Educational programs; computation of composite index. (SB435)
Introduced By
Sen. Jill Holtzman Vogel (R-Winchester)
Progress
✓ |
Introduced |
☐ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
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. Read the Bill »
Status
01/17/2008: Awaiting a Vote in the Education and Health Committee
History
Date | Action |
---|---|
01/08/2008 | Prefiled and ordered printed; offered 01/09/08 086564338 |
01/08/2008 | Referred to Committee on Education and Health |
01/17/2008 | Stricken at request of patron in Education and Health |
Comments
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.