§ 63.2-2100 Family and Children’s Trust Fund; public purpose; exempt from taxation
A. There is hereby created the Family and Children’s Trust Fund (the Trust Fund). The exercise of powers granted under this chapter shall be in all respects for the benefit of the citizens of the Commonwealth and for the support and development of services for the prevention and treatment of child abuse and neglect and violence within families. This goal shall be achieved through public and private collaboration.
B. The Trust Fund will be performing an essential governmental function in the exercise of the powers conferred upon it by this chapter. Gifts, contributions, grants, devises, and bequests, whether personal or real property, and the income therefrom, accepted by the Trust Fund, shall be deemed to be gifts to the Commonwealth, which shall be exempt from all state and local taxes, and shall be regarded as the property of the Commonwealth for the purposes of all tax laws.
History
This law was first created in 1986. The record of its establishment is cataloged in chapter 416 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1986 “Acts” aren’t available online. It has been modified 3 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 2002, chapter 747; in 2012, chapters 803 and 835; in 2016, chapters 110 and 627.
1986, c. 416, § 63.1-326; 2002, c. 747; 2012, cc. 803, 835; 2016, cc. 110, 627.