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

DateAction
01/08/2008Prefiled and ordered printed; offered 01/09/08 086564338
01/08/2008Referred to Committee on Education and Health
01/17/2008Stricken at request of patron in Education and Health

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.