VA HB748

Bath County School Board may enter into cost-savings agreements with Augusta County School Board for consolidation or sharing of educational, administrative, or support services, even though Bath County does not meet the standard requirement of having 65% or more of local taxes from real estate

Participating school boards can receive state basic aid calculated using the composite index of local ability-to-pay of the contiguous (neighboring) school division, potentially increasing state funding

All other conditions and limitations in existing Virginia Code § 22.1-98.2 regarding cost-savings agreements still apply to any agreement between these two counties

Additional funds resulting from such agreements require a specific appropriation in the state budget before payment can be made

The bill amends Chapter 589 of the 2008 Acts of Assembly by removing outdated provisions including the July 1, 2010 payment start date and certain caps on basic aid payments