SENATE BILL NO. 1243 Offered January 10, 2007 Prefiled January 10, 2007 A BILL to amend the Code of Virginia by adding a section numbered 22.1-98.3, relating to the composite index. ---------- Patrons-- Herring; Delegates: Caputo, May, Poisson and Rust ---------- Referred to Committee on Education and Health ----------

Be it enacted by the General Assembly of Virginia:

1.  That the Code of Virginia is amended by adding a section numbered 22.1-98.3 as follows:

§ 22.1-98.3. Reduced composite index of ability-to-pay.

Each locality whose total reported September 30th K through 12 student membership growth has exceeded five percent for any two of the three most recently ended years may elect at its option to have its composite index of local ability to pay reduced by 10 percent for the current year. The governing body of each locality that elects this option shall provide a written certification to the Superintendent of Public Instruction on or before October 31 of the year. Each locality making such certification shall receive its state share for basic aid based on the reduced composite index of local ability to pay, provided that no other locality shall receive less funding for public education from use of the reduced composite index of local ability to pay. Instead, any locality making the certification shall receive an additional appropriation from general funds of the Commonwealth that are not otherwise designated for public education to fund the additional amount required for the state share for basic aid to the locality resulting from use of the reduced composite index of local ability to pay.