VA HB1101

Requires the Department of Education, in coordination with the Department of Taxation, to revise the local composite index school funding formula by December 1, 2026

Mandates inclusion of local data center revenue as a factor in calculating required local effort, including real property taxes and business personal property taxes from data center operations

Protects school divisions without data centers by requiring the revision ensure they are not disadvantaged by the formula changes

Requires General Assembly approval of the revised formula through the appropriation act before implementation

If approved, the revised formula would take effect beginning with the 2028-2030 biennium