Code of Virginia § 60.2-503. Authority to terminate elections.
70 words·~1 min read·
/va/title-60-2/chapter-5/60-2-503A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If any nonprofit organization is delinquent in making payments in lieu of taxes as required under subsection C of § 60.2-501 , the Commission may terminate such organization's election to make payments in lieu of taxes as of the beginning of the next taxable year, and such termination shall be effective for that and the next taxable year.
1974, c. 466, § 60.1-89; 1981, cc. 248, 252; 1986, c. 480.