2019 Session

Budget Amendments - SB1100 (Committee Approved)

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Composite Index Adjusted for Land Use (2020-22 Biennium) (language only)

Item 136 #7s

Item 136 #7s

Direct Aid to Public Education


Page 147, after line 5, insert:

"Beginning July 1, 2020, the true value of property indicator shall incorporate the land-use assessment value for those properties within a land-use plan pursuant to Article 4 (§ 58.1-3229 et seq.) of Chapter 32 of Title 58.1 Code of Virginia.".


(This amendment modifies, beginning with FY 2021, concurrent with the next re-benchmarking of the Standards of Quality costs, the current calculation of composite index of local ability to pay to incorporate within the real estate indicator of local wealth the land-use assessment value for those properties located within a land-use plan.)