Virginia Code 23.1-1234: Exemption from taxation.
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Neither the Authority nor its agent are required to pay any taxes or assessments upon or with respect to a project, any property acquired or used by the Authority or its agent under the provisions of this article, or the income from any such project or property. Any bonds issued under the provisions of this article, the transfer of such bonds, and the income from such bonds, including any profit made on the sale of such bonds, are exempt from taxation of any kind by the Commonwealth and the localities and other political subdivisions of the Commonwealth.
Terms Used In Virginia Code 23.1-1234
- Authority: means the Virginia College Building Authority established in § Virginia Code 23.1-1220
- Project: includes landscaping, site preparation, furniture, equipment and machinery, and other similar items necessary or convenient for the intended use of a particular facility or structure. See Virginia Code 23.1-1220
1972, c. 686, § 23-30.53; 2016, c. 588.