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2020 SESSION

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SJ 28 Composite index of local ability to pay; JLARC to study feasibility of adjusting.

Introduced by: Bryce E. Reeves | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Study; JLARC; feasibility of adjusting the composite index of local ability to pay; report. Requires the Joint Legislative Audit and Review Commission to study the feasibility of adjusting the composite index of local ability to pay by (i) reviewing current statutory, constitutional, and budgetary provisions governing the calculation of Standards of Quality costs and funding; (ii) examining the components of the composite index of local ability to pay; (iii) evaluating other states' public school funding formulas; (iv) hearing local concerns and seeking input from various state and national experts, as applicable; and (v) determining the feasibility of reducing the local share under the Local Composite Index (LCI) in school divisions in which the locality is determined to have above-average fiscal stress or high fiscal stress by the Virginia Commission on Local Government in its most recent "Report on the Comparative Revenue Capacity, Revenue Effort, and Fiscal Stress of Virginia Counties and Cities."


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