EDITORIAL A FAIR SHARE GREUEL PLAN SEEKS TO BOOST EQUITY, TOURISM FOR VALLEY.

LOS Angeles City Councilwoman Wendy Greuel has called for a proposal that would create equity in city tax policies, boost business in the San Fernando Valley and give Vals a better return on their taxes.

Which is to say, the plan probably has too much going for it to get passed by the full council.

Nonetheless, this is an idea the council ought to take seriously, because if it passes -- and even more so if doesn't -- that will tell us a lot about City Hall's priorities.

What Greuel proposes is that the revenues from bed taxes at Valley hotels stop going into the city's general coffers, but to LA Inc., which works to bring tourism to the city. LA Inc., in turn, would work with the San Fernando Valley Conference and Visitors Bureau to bring tourists and business travelers to the Valley.

Seeing that the city has lavished a similar subsidy on the planned Convention Center hotel -- and that developers of a massive hotel in the Grand Avenue Project have sought the same deal -- Greuel's plan only seems fair.

For years, targeted tax breaks have been used to boost downtown while Valley taxpayers have borne the burden of paying for city government. And for decades, the Valley has received a proportionally smaller share of city services, despite paying a proportionally higher share of the costs.

So it's the Valley's turn, or at least it should be.

And beefing up tourism would be a good way to boost the local economy. Already, due to its proximity to various entertainment and business venues, the Valley accounts for 17 percent of the city's hospitality business -- and that's with little promotion.

There are also many other possible uses for the cash -- such as helping to meet the Valley's pressing road, transit and policing needs, the products of a half-century of city neglect.

It would be refreshing to see the city, having taken such good care of downtown, extend the same kind of attention to the Valley. But don't count on it.