Code of Virginia § 2.2-2324. Exemption from taxation.
109 words·~1 min read·
/va/title-2-2/chapter-22/2-2-2324A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
As set forth in subsection C of § 2.2-2315 , the Authority shall be performing an essential governmental function in the exercise of the powers conferred upon it by this article. Accordingly, the Authority shall not be required to pay any taxes or assessments upon any project or any property or upon any operations of the Authority or the income therefrom. Agents, lessees, sublessees, or users of tangible personal property owned by or leased to the Authority also shall not be required to pay any sales or use tax upon such property or the revenue derived therefrom.
1999, cc. 852 , 881 , § 2.1-548.64; 2001, c. 844 .