{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-4903.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-4903.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-4903.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-4903.html"}],"law_id":66473,"edition_id":1,"section_id":66473,"structure_id":13549,"section_number":"15.2-4903","catch_line":"Creation of industrial development authorities","history":"1966, c. 651, \u00a7 15.1-1376; 1975, c. 254; 1997, c. 587; 1999, c. 157; 2000, c. 398; 2001, cc. 5, 6, 730; 2002, cc. 169, 680, 725; 2003, cc. 159, 343, 345, 350, 357; 2004, cc. 292, 782, 933; 2016, cc. 164, 312; 2017, c. 560.","full_text":"A\n\nThe governing body of any locality in the Commonwealth is hereby authorized to create by ordinance a political subdivision of the Commonwealth, with such public and corporate powers as are set forth in this chapter. Any such ordinance may limit the type and number of facilities that the authority may otherwise finance under this chapter, which ordinance of limitation may, from time to time, be amended. Louisa County may, by ordinance, authorize an authority created or established under this chapter to acquire, own, operate, and regulate the use of airports, landing fields, and facilities, and other property incident thereto, including such facilities and property necessary for the servicing of aircraft. In the absence of any such limitation, an authority shall have all powers granted under this chapter.B\n\nThe name of the authority shall be the Industrial Development Authority of (the blank spaces to be filled in with the name of the locality which created the authority, including the proper designation thereof as a county, city or town).C\n\nNotwithstanding subsection B, for any authority authorized by this section, the name of the authority may be the Economic Development Authority of (the blank space to be filled in with the name of the locality that created the authority), if the governing body of such locality so chooses.D\n\nThe authority jointly created by the Town of South Boston and Halifax County pursuant to § 15.2-4916 may be named the Economic Development Authority of Halifax, Virginia, or such other name as the governing bodies of the Town of South Boston and Halifax County shall choose in the concurrent resolutions creating such authority.","order_by":null,"text":{"0":{"id":241240,"text":"The governing body of any locality in the Commonwealth is hereby authorized to create by ordinance a political subdivision of the Commonwealth, with such public and corporate powers as are set forth in this chapter. Any such ordinance may limit the type and number of facilities that the authority may otherwise finance under this chapter, which ordinance of limitation may, from time to time, be amended. Louisa County may, by ordinance, authorize an authority created or established under this chapter to acquire, own, operate, and regulate the use of airports, landing fields, and facilities, and other property incident thereto, including such facilities and property necessary for the servicing of aircraft. In the absence of any such limitation, an authority shall have all powers granted under this chapter.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":241241,"text":"The name of the authority shall be the Industrial Development Authority of (the blank spaces to be filled in with the name of the locality which created the authority, including the proper designation thereof as a county, city or town).","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":241242,"text":"Notwithstanding subsection B, for any authority authorized by this section, the name of the authority may be the Economic Development Authority of (the blank space to be filled in with the name of the locality that created the authority), if the governing body of such locality so chooses.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":241243,"text":"The authority jointly created by the Town of South Boston and Halifax County pursuant to § 15.2-4916 may be named the Economic Development Authority of Halifax, Virginia, or such other name as the governing bodies of the Town of South Boston and Halifax County shall choose in the concurrent resolutions creating such authority.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":13549,"edition_id":1,"name":"Industrial Development and Revenue Bond Act","identifier":"49","label":"chapter","depth":3,"order_by":1,"parent_id":12721,"metadata":{},"date_created":"2026-06-26 03:45:11","date_modified":"2026-06-26 03:45:11","permalink":{"id":158343,"object_type":"structure","relational_id":13549,"identifier":"49","token":"15.2\/IV\/49","url":"\/15.2\/IV\/49\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12721,"edition_id":1,"name":"Other Governmental Entities","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12720,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":157897,"object_type":"structure","relational_id":12721,"identifier":"IV","token":"15.2\/IV","url":"\/15.2\/IV\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12720,"edition_id":1,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":151279,"object_type":"structure","relational_id":12720,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":62034,"structure_id":13549,"section_number":"15.2-4900","catch_line":"Short title","url":"\/15.2-4900\/","token":"15.2\/IV\/49\/15.2-4900","metadata":false},{"id":54556,"structure_id":13549,"section_number":"15.2-4901","catch_line":"Purpose of chapter","url":"\/15.2-4901\/","token":"15.2\/IV\/49\/15.2-4901","metadata":false},{"id":60789,"structure_id":13549,"section_number":"15.2-4902","catch_line":"Definitions","url":"\/15.2-4902\/","token":"15.2\/IV\/49\/15.2-4902","metadata":false},{"id":66473,"structure_id":13549,"section_number":"15.2-4903","catch_line":"Creation of industrial development authorities","url":"\/15.2-4903\/","token":"15.2\/IV\/49\/15.2-4903","metadata":false},{"id":74389,"structure_id":13549,"section_number":"15.2-4904","catch_line":"Directors; qualifications; terms; vacancies; compensation and expenses; quorum; records; certification and distribution of report concerning bond issuance","url":"\/15.2-4904\/","token":"15.2\/IV\/49\/15.2-4904","metadata":false},{"id":82150,"structure_id":13549,"section_number":"15.2-4905","catch_line":"Powers of authority","url":"\/15.2-4905\/","token":"15.2\/IV\/49\/15.2-4905","metadata":false},{"id":54514,"structure_id":13549,"section_number":"15.2-4906","catch_line":"Public hearing and approval","url":"\/15.2-4906\/","token":"15.2\/IV\/49\/15.2-4906","metadata":false},{"id":75699,"structure_id":13549,"section_number":"15.2-4907","catch_line":"Fiscal impact statement","url":"\/15.2-4907\/","token":"15.2\/IV\/49\/15.2-4907","metadata":false},{"id":72636,"structure_id":13549,"section_number":"15.2-4908","catch_line":"Issuance of bonds, notes and other obligations of authority","url":"\/15.2-4908\/","token":"15.2\/IV\/49\/15.2-4908","metadata":false},{"id":83307,"structure_id":13549,"section_number":"15.2-4909","catch_line":"Liability of Commonwealth, political subdivisions, directors and officers","url":"\/15.2-4909\/","token":"15.2\/IV\/49\/15.2-4909","metadata":false},{"id":77169,"structure_id":13549,"section_number":"15.2-4910","catch_line":"Security for payment of bonds; default","url":"\/15.2-4910\/","token":"15.2\/IV\/49\/15.2-4910","metadata":false},{"id":70332,"structure_id":13549,"section_number":"15.2-4911","catch_line":"Rents, fees and other charges","url":"\/15.2-4911\/","token":"15.2\/IV\/49\/15.2-4911","metadata":false},{"id":69318,"structure_id":13549,"section_number":"15.2-4912","catch_line":"Exemption from taxation","url":"\/15.2-4912\/","token":"15.2\/IV\/49\/15.2-4912","metadata":false},{"id":85317,"structure_id":13549,"section_number":"15.2-4913","catch_line":"Authority to be nonprofit; excess earnings","url":"\/15.2-4913\/","token":"15.2\/IV\/49\/15.2-4913","metadata":false},{"id":67758,"structure_id":13549,"section_number":"15.2-4914","catch_line":"Dissolution of authority; disposition of property","url":"\/15.2-4914\/","token":"15.2\/IV\/49\/15.2-4914","metadata":false},{"id":56510,"structure_id":13549,"section_number":"15.2-4915","catch_line":"Bonds as legal investments and lawful security","url":"\/15.2-4915\/","token":"15.2\/IV\/49\/15.2-4915","metadata":false},{"id":61752,"structure_id":13549,"section_number":"15.2-4916","catch_line":"Authorities acting jointly","url":"\/15.2-4916\/","token":"15.2\/IV\/49\/15.2-4916","metadata":false},{"id":80463,"structure_id":13549,"section_number":"15.2-4917","catch_line":"Facility sites","url":"\/15.2-4917\/","token":"15.2\/IV\/49\/15.2-4917","metadata":false},{"id":77243,"structure_id":13549,"section_number":"15.2-4918","catch_line":"Provisions of chapter cumulative; construction","url":"\/15.2-4918\/","token":"15.2\/IV\/49\/15.2-4918","metadata":false},{"id":83378,"structure_id":13549,"section_number":"15.2-4919","catch_line":"Provisions of chapter controlling over other statutes and charters","url":"\/15.2-4919\/","token":"15.2\/IV\/49\/15.2-4919","metadata":false},{"id":79142,"structure_id":13549,"section_number":"15.2-4920","catch_line":"Validation of creation of authorities, appointment of directors and proceedings; curative resolutions","url":"\/15.2-4920\/","token":"15.2\/IV\/49\/15.2-4920","metadata":false}],"previous_section":{"id":60789,"structure_id":13549,"section_number":"15.2-4902","catch_line":"Definitions","url":"\/15.2-4902\/","token":"15.2\/IV\/49\/15.2-4902","metadata":false},"next_section":{"id":74389,"structure_id":13549,"section_number":"15.2-4904","catch_line":"Directors; qualifications; terms; vacancies; compensation and expenses; quorum; records; certification and distribution of report concerning bond issuance","url":"\/15.2-4904\/","token":"15.2\/IV\/49\/15.2-4904","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-4903\/","history_text":"

This law was first created in 1966. The record of its establishment is cataloged in chapter 651 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1966 \u201cActs\u201d aren\u2019t available online. It has been modified 10 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1975, chapter 254; in 1997, chapter 587<\/a>; in 1999, chapter 157<\/a>; in 2000, chapter 398<\/a>; in 2001, chapters 5<\/a>, 6<\/a>, and 730<\/a>; in 2002, chapters 169<\/a>, 680<\/a>, and 725<\/a>; in 2003, chapters 159<\/a>, 343<\/a>, 345<\/a>, 350<\/a>, and 357<\/a>; in 2004, chapters 292<\/a>, 782<\/a>, and 933<\/a>; in 2016, chapters 164<\/a> and 312<\/a>; in 2017, chapter 560<\/a>.<\/p>","references":[{"id":62210,"section_number":"56-576","catch_line":"Definitions","order_by":null,"url":"\/56-576\/"},{"id":86211,"section_number":"56-585.1:10","catch_line":"Program for electric infrastructure serving business parks","order_by":null,"url":"\/56-585.1_10\/"}],"refers_to":[{"id":61752,"section_number":"15.2-4916","catch_line":"Authorities acting jointly","order_by":null,"url":"\/15.2-4916\/"}],"permalink":{"id":158357,"object_type":"law","relational_id":66473,"identifier":"15.2-4903","token":"15.2\/IV\/49\/15.2-4903","url":"\/15.2-4903\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-4903\/","token":"15.2\/IV\/49\/15.2-4903","dublin_core":{"Title":"Creation of industrial development authorities","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-4903","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The governing body<\/span> of any locality<\/span> in the Commonwealth is hereby authorized to create by ordinance<\/span> a political subdivision of the Commonwealth, with such public and corporate powers as are set forth in this chapter. Any such ordinance<\/span> may limit the type and number of facilities<\/span> that the authority<\/span> may otherwise finance under this chapter, which ordinance<\/span> of limitation may, from time to time, be amended. Louisa County<\/span> may, by ordinance<\/span>, authorize an authority<\/span> created or established under this chapter to acquire, own, operate, and regulate the use of airports, landing fields, and facilities<\/span>, and other property incident thereto, including such facilities<\/span> and property necessary for the servicing of aircraft. In the absence of any such limitation, an authority<\/span> shall have all powers granted under this chapter. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The name of the authority<\/span> shall be the Industrial Development Authority<\/span> of (the blank spaces to be filled in with the name of the locality<\/span> which created the authority<\/span>, including the proper designation thereof as a county<\/span>, city<\/span> or town<\/span>). <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Notwithstanding subsection B, for any authority<\/span> authorized by this section, the name of the authority<\/span> may be the Economic Development Authority<\/span> of (the blank space to be filled in with the name of the locality<\/span> that created the authority<\/span>), if the governing body<\/span> of such locality<\/span> so chooses. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The authority<\/span> jointly created by the Town<\/span> of South Boston and Halifax County<\/span> pursuant to § 15.2-4916<\/a> may be named the Economic Development Authority<\/span> of Halifax, Virginia, or such other name as the governing bodies of the Town<\/span> of South Boston and Halifax County<\/span> shall choose in the concurrent resolutions creating such authority<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCREATION OF INDUSTRIAL DEVELOPMENT AUTHORITIES (\u00a7 15.2-4903)\n\nA. The governing body of any locality in the Commonwealth is hereby authorized\nto create by ordinance a political subdivision of the Commonwealth, with such\npublic and corporate powers as are set forth in this chapter. Any such ordinance\nmay limit the type and number of facilities that the authority may otherwise\nfinance under this chapter, which ordinance of limitation may, from time to\ntime, be amended. Louisa County may, by ordinance, authorize an authority\ncreated or established under this chapter to acquire, own, operate, and regulate\nthe use of airports, landing fields, and facilities, and other property incident\nthereto, including such facilities and property necessary for the servicing of\naircraft. In the absence of any such limitation, an authority shall have all\npowers granted under this chapter.\n\nB. The name of the authority shall be the Industrial Development Authority of\n(the blank spaces to be filled in with the name of the locality which created\nthe authority, including the proper designation thereof as a county, city or\ntown).\n\nC. Notwithstanding subsection B, for any authority authorized by this section,\nthe name of the authority may be the Economic Development Authority of (the\nblank space to be filled in with the name of the locality that created the\nauthority), if the governing body of such locality so chooses.\n\nD. The authority jointly created by the Town of South Boston and Halifax County\npursuant to § 15.2-4916 may be named the Economic Development Authority of\nHalifax, Virginia, or such other name as the governing bodies of the Town of\nSouth Boston and Halifax County shall choose in the concurrent resolutions\ncreating such authority.\n\nHISTORY: 1966, c. 651, \u00a7 15.1-1376; 1975, c. 254; 1997, c. 587; 1999, c. 157;\n2000, c. 398; 2001, cc. 5, 6, 730; 2002, cc. 169, 680, 725; 2003, cc. 159, 343,\n345, 350, 357; 2004, cc. 292, 782, 933; 2016, cc. 164, 312; 2017, c. 560.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}