Bath County and Augusta County School Boards; cost-savings agreements, requirements.

Certain school divisions; cost-savings agreements;requirements. Removes the limitation on any school board thatenters into certain cost-savings agreements with a school board thatgoverns a contiguous school division for the consolidation or sharingof educational, administrative, or support services and thus qualifiesfor adjustment of state share of basic aid computed annually on thebasis of the composite index of local ability-to-pay of such contiguousschool division that caps such adjusted basic aid payment at an amountequal to the basic aid payment appropriated to such locality by the2007 Session of the General Assembly. The bill also permits, notwithstandingthe requirement set forth in relevant law that a school divisionhas 65 percent or more of its local taxes coming from real estatetaxes in order for the school board that governs such school divisionto be eligible to enter into such cost-savings agreements with acontiguous school division, the Bath County School Board to enterinto such cost-savings agreements with the Augusta County SchoolBoard, provided that all other conditions and limitations set forthin relevant law apply to any such agreement.