HB1164:

Composite index of local ability-to-pay; use value of real estate in certain localities.

Bill Summary:

Composite index of local ability-to-pay; use
value of real estate in certain localities. Requires, for the
purpose of determining the state and local shares of basic aid funding,
that the composite index of local ability-to-pay utilize the use
value of all applicable real estate (i) devoted to agricultural use,
horticultural use, forest use, and open-space use in each locality
that has adopted an ordinance by which it provides for the use valuation
and taxation of such real estate and (ii) used in agricultural and
forestal production within an agricultural district, forestal district,
agricultural and forestal district, or agricultural and forestal
district of local significance in each locality that provides for
the use valuation and taxation of such real estate, regardless of
whether it has adopted a local land-use plan or local ordinance for
such valuation and taxation.