Bill Text: VA HJR50 | 2017 | Regular Session | Prefiled
Bill Title: Composite Index of Local Ability to Pay; DOE to study effect of local use value assessment
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2016-12-01 - Left in Rules [HJR50 Detail]
Download: Virginia-2017-HJR50-Prefiled.html
WHEREAS, the Commonwealth's elementary and secondary education funding formula determines the Composite Index of Local Ability to Pay (Composite Index) by taking into consideration the weighted true value of real estate in a locality; and
WHEREAS, 95 localities have adopted ordinances to provide for the use value assessment and taxation of certain classifications of real estate; and
WHEREAS, the Composite Index calculation does not take local use value assessments into consideration; now, therefore, be it
RESOLVED by the House of Delegates, the Senate concurring, That the Department of Education be requested to study the effect of local use value assessment of certain real estate on the Composite Index of Local Ability to Pay.
In conducting its study, the Department of Education shall (i) determine, for each of the 95 localities that have adopted ordinances to provide for the use value assessment and taxation of certain real estate, the use value of all applicable (a) real estate devoted to agricultural use, (b) real estate devoted to horticultural use, (c) real estate devoted to forest use, and (d) real estate devoted to open-space use, as those terms are defined in §58.1-3230 of the Code of Virginia, and (ii) recalculate the Composite Index of Local Ability to Pay for each locality after taking into consideration such use values.
Technical assistance shall be provided to the Department of Education by the Department of Taxation and each locality in the Commonwealth. All agencies of the Commonwealth shall provide assistance to the Department of Education for this study, upon request.
The Department of Education shall complete its meetings by November 30, 2016, and shall submit to the Governor and the General Assembly an executive summary and a report of its findings and recommendations for publication as a House or Senate document. The executive summary and report shall be submitted as provided in the procedures of the Division of Legislative Automated Systems for the processing of legislative documents and reports no later than the first day of the 2017 Regular Session of the General Assembly and shall be posted on the General Assembly's website.
