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2004 SESSION
047533212Patrons-- Amundson, Albo, Callahan, Dillard, Petersen, Rust and Scott, J.M.; Senators: Cuccinelli, Howell, Mims, Puller, Saslaw and Ticer
Be 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. Calculation 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, as provided in the appropriation act, modify the formula that determines each locality's ability to pay for its share of providing an educational program meeting the prescribed Standards of Quality to (i) adjust the weights assigned to the real property, sales tax, and other revenue components to reflect current levels; (ii) provide for a population density adjustment; and (iii) incorporate median adjusted gross income in certain localities, as provided in the appropriation act.
Such modified formula shall be implemented to address the costs of providing such educational program beginning with the 2005-2006 school year.