HB4002 S ED AMT

M.J. White 7915

    The Committee on Education moved to amend the bill by striking out the title and substituting therefor a new title, to read as follows:

    Eng. Com. Sub. for House Bill No. 4002--A Bill to amend and reenact §11-1C-5b of the Code of West Virginia, 1931, as amended; and to amend and reenact §18-9A-2, §18-9A-2a and §18-9A-11 of said code, all relating to calculating local share; changing the deadline for Tax Commissioner to report the total assessed values to the State Board of Education; delaying use of assessment ratio study for calculating local share until the second consecutive year, and consecutive years thereafter, that assessments are below sixty percent of market value including the ten-percent variance; creating assumption that all property in a county is assessed at sixty percent for the purpose of determining whether to use the sales ratio analysis in the calculation of local share when a valid sales ratio analysis cannot be obtained due to a lack of arm’s-length sales of property in a county; allowing Tax Commissioner to waive the use of the sales ratio analysis for calculating local share upon a showing by the assessor of that county that the preliminary sales ratio for the next succeeding year would meet the minimum ratio; delaying the increase in the percent of local levy rate for county boards of education used for calculating local share until the second consecutive year, and consecutive years thereafter, that assessments are below sixty percent of market value including the ten-percent variance; clarifying language pertaining to the amount that assumed assessed values is to be added to for the purpose of calculating local share; and requiring the state to use the most recent projections or estimations that may be available from the Tax Department for any estimation or preliminary computations of local share required prior to the report to the state board by the Tax Commissioner.

Adopted

Rejected