HB191: Composite index of local ability-to-pay; use value of real estate in certain localities.

HOUSE BILL NO. 191

Offered January 13, 2016
Prefiled December 27, 2015
A BILL to amend the Code of Virginia by adding a section numbered 22.1-98.3, relating to the composite index of local ability-to-pay; use value of real estate in certain localities.

Patrons-- Minchew, Greason, Lingamfelter, Anderson, Austin, Bell, John J., Bell, Richard P., Bell, Robert B., Boysko, Campbell, Cline, Collins, Dudenhefer, Farrell, Garrett, Gilbert, Howell, Hugo, Jones, Kilgore, Knight, Landes, LaRock, Marshall, R.G., Miller, O'Quinn, Rush, Stolle, Toscano, Villanueva, Ware, Webert and Wilt; Senators: Vogel and Black

Committee Referral Pending

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. Composite index of local ability-to-pay; use value of real estate in certain localities.

For the purpose of determining the state and local shares of basic aid funding, the composite index of local ability-to-pay or "local composite index" shall utilize the use value of all applicable real estate:

1. Devoted to (i) agricultural use, (ii) horticultural use, (iii) forest use, and (iv) open-space use, as those terms are defined in § 58.1-3230, in each locality that has adopted an ordinance pursuant to § 58.1-3231 by which it assesses the value of such real estate for the purpose of local taxation pursuant to § 58.1-3236; and

2. Used in agricultural and forestal production within (i) an agricultural district, a forestal district, or an agricultural and forestal district established pursuant to Chapter 43 (§ 15.2-4300 et seq.) of Title 15.2 or (ii) an agricultural and forestal district of local significance established pursuant to Chapter 44 (§ 15.2-4400 et seq.) of Title 15.2 in each locality that assesses the value of such real estate for the purpose of local taxation pursuant to § 58.1-3236 regardless of whether it has adopted a local land-use plan or local ordinance pursuant to § 58.1-3231.