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2025 Session

Budget Amendments - HB1600 (Member Request)

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Chief Patron: Cole J.
Review LCI Adjustment to Recognize Real Property Tax Exemptions (language only)

Item 1 #6h

Item 1 #6h

Legislative Department
General Assembly of Virginia

Language

Page 13, after line 17, insert:

"5. The Joint Subcommittee shall review the impact of the true value of real property that is exempt from taxation pursuant to either § 58.1-3219.5 or § 58.1-3219.9 on the composite index of local ability-to-pay and submit its findings to the Governor and the Chairs of the House Appropriations and Senate Finance and Appropriations Committees no later than November 1, 2025."



Explanation

(This amendment directs the Joint Subcommittee on Elementary and Secondary Education Funding to analyze the impact on the local composite index from real estate tax exemptions for disabled veterans or surviving spouses of an armed force servicemember who died in the line of duty.)