Senate Bill No. 112
(By Senator Dittmar)
____________
[Introduced January 17, 2000; referred to the Committee
on Education.]
____________
A BILL to amend article five, chapter eighteen of the code of
West Virginia, one thousand nine hundred thirty-one, as
amended, by adding thereto a new section, designated section
forty-four, relating to the use of tax revenue generated by
local boards of education of new growth for capital
improvements to existing schools and new schools.
Be it enacted by the Legislature of West Virginia:
That article five, chapter eighteen of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, be
amended by adding thereto a new section, designated section
forty-four, to read as follows:
ARTICLE 5. COUNTY BOARD OF EDUCATION.
§18-5-44. County board of education authorized to use new
growth money tax revenue for capital improvements
to existing schools and new schools.
(a) The county board of education may
use and expend new
growth money
to finance the cost of construction projects for
existing public schools in this state or to finance the cost of
the new construction projects for public schools in this state.
(b)
"New growth money" means the property tax revenue
generated as the result of an additional appraisal or valuation
due to new construction or improvements to existing real
property, including beginning recovery of natural resources as
provided in subsection (a), section six-e, article eight, chapter
eleven of this code. The property tax revenue so generated
shall be set aside and dedicated exclusively for capital
improvements to existing schools and new schools. This use and
dedication only applies to or affects school money and does not
apply to any money for other county offices. It does not include
money in the school aid formula.
NOTE: The purpose of this bill is to authorize the use of
tax revenue generated by new growth for capital improvements to
existing schools and new schools.
This section is new; therefore, strike-throughs and
underscoring have been omitted.