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2004 SESSION
047528212Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding in Chapter 13.2 of Title 22.1 a section numbered 22.1-253.13:9 as follows:
§ 22.1-253.13:9. Apportionment of state and local share.
In apportioning the state and local share for the costs of providing an educational program meeting the Standards of Quality as required by Article VIII, § 2 of the Constitution of Virginia, the General Assembly shall, beginning July 1, 2005, annually increase the state share by five percent of the total costs, so that, by July 1, 2008, the local share shall not exceed 65 percent and the state share shall be equal to at least 35 percent of the total costs for those localities whose local share is greater than or equal to 65 percent of the total costs in any fiscal biennium.