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2006 SESSION

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063804410
HOUSE BILL NO. 1476 Offered January 19, 2006 A BILL to amend and reenact § 15.2-2502 of the Code of Virginia, relating to request by localities for funding of state mandates. ---------- Patron-- McEachin ---------- Referred to Committee on Counties, Cities and Towns ----------

Be it enacted by the General Assembly of Virginia:

1.  That § 15.2-2502 of the Code of Virginia is amended and reenacted as follows:

§ 15.2-2502. Notification by state officials and agencies; requests for funding state mandates.

A. Notwithstanding any contrary provision of general law, the Compensation Board and Department of Taxation shall, no later than the fifteenth day following final adjournment of each regular session of the General Assembly, inform all localities and school divisions of the estimated amounts of all state moneys they will receive during the upcoming fiscal year and any other information that may be required for such localities and school divisions to be able to compute amounts of moneys they may collect.

B. In any calendar year that the increase in the Consumer Price Index as published by the United States Department of Commerce is more than the percentage increase in the assessed value of private real estate in a locality, then for the next calendar year that locality may receive, upon request to the General Assembly, funding from the Commonwealth for any state mandates enacted that calendar year.