SB435: Educational programs; computation of composite index.

Chief Patron

Jill Holtzman Vogel (R-27)
Served: 2008–

Progress

	Introduced
	Passed Committee
	Passed House
	Passed Senate
	Signed by Governor
	Became Law

Status

01/08/2008: In Education and Health Committee

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Summary

Education; computation of composite index. Modifies the current Standards of Quality funding formula and calculation of composite index of local ability to pay to incorporate within the real estate indicator of local wealth the land-use taxation value for those properties assessed and taxed at their use value.

The current composite index of local ability to pay incorporates the "true value" of real property (rather than any special use assessed values) weighted 50%, with adjusted gross income weighted at 40%, and taxable retail sales weighted at 10%, as indicators of local wealth.

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Video

Votes were cast on this bill on the following dates for which Richmond Sunlight has video: 01/17/2008.

Comments

Jim Weigand writes:

Localities that choose land use valuations should not be rewarded with additional state aid at the expense of those localities that don't. This benefits Counties at the expense of Cities.

Posted 4 months ago. #

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