Virginia Code 36-158: Definitions
As used in this chapter:
Terms Used In Virginia Code 36-158
- Business firm: means any corporation, partnership, electing small business (Subchapter S) corporation, limited liability company, or sole proprietorship authorized to do business in the Commonwealth and subject to tax imposed under Articles 2 (§ 58. See Virginia Code 36-158
- City: means an independent incorporated community which became a city as provided by law before noon on July 1, 1971, or which has within defined boundaries a population of 5,000 or more and which has become a city as provided by law. See Virginia Code 1-208
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Department: means the Department of Housing and Community Development. See Virginia Code 36-158
- Fund: means the Housing Revitalization Zone Fund. See Virginia Code 36-158
- Housing revitalization zone: means an area declared by the Governor to be eligible for the benefits of this chapter. See Virginia Code 36-158
- Housing unit: means any building, structure, or portion thereof, which is occupied as, or intended for occupancy as, a residence by one or more families. See Virginia Code 36-158
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Qualified business firm: means a business firm designated as a qualified business firm by the Department pursuant to § 36-165. See Virginia Code 36-158
- Qualified owner occupant: means the owner of a housing unit who also uses the housing unit as the owner's residence, and who is designated as a qualified owner occupant pursuant to § 36-165. See Virginia Code 36-158
- real estate: includes lands, tenements and hereditaments, and all rights and appurtenances thereto and interests therein, other than a chattel interest. See Virginia Code 1-219
- Town: means any existing town or an incorporated community within one or more counties which became a town before noon, July 1, 1971, as provided by law or which has within defined boundaries a population of 1,000 or more and which has become a town as provided by law. See Virginia Code 1-254
“Based assessed value” means the assessed value of real estate within a housing revitalization zone as shown upon the records of the local assessing officer on January 1 of the year preceding the date of the designation of such zone.
“Business firm” means any corporation, partnership, electing small business (Subchapter S) corporation, limited liability company, or sole proprietorship authorized to do business in the Commonwealth and subject to tax imposed under Articles 2 (§ 58.1-320 et seq.) and 10 (§ 58.1-400 et seq.) of Chapter 3 of Title 58.1.
“Department” means the Department of Housing and Community Development.
“Fund” means the Housing Revitalization Zone Fund.
“Housing revitalization zone” means an area declared by the Governor to be eligible for the benefits of this chapter.
“Housing unit” means any building, structure, or portion thereof, which is occupied as, or intended for occupancy as, a residence by one or more families.
“Local zone administrator” means the chief executive of the county, city, or town in which a housing revitalization zone is located, or his designee.
“Planning district” means a contiguous area within the boundaries established by the Department of Housing and Community Development.
“Qualified business firm” means a business firm designated as a qualified business firm by the Department pursuant to § 36-165.
“Qualified owner occupant” means the owner of a housing unit who also uses the housing unit as the owner’s residence, and who is designated as a qualified owner occupant pursuant to § 36-165.