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localities. The formula is used to determine the “state’s share” of an additional $25.54 per student.
The local composite index is a means by which the state determines a locality’s wealth relative to other localities in the state. Rappahannock is considered one of the wealthiest localities, and thus the formula contributes less of the $25.54 per student to Rappahannock than to most localities in the state.
The governor’s newly-created Commission on State and Local Government Responsibility and Taxing Authority will recommend a formula for distribution in future years.
“Our proposal,” Allen said, “is the first down-payment to finally returning lottery profits to localities.”
89.1%