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

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