{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/33.2-1506.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/33.2-1506.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/33.2-1506.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/33.2-1506.html"}],"law_id":71556,"edition_id":1,"section_id":71556,"structure_id":13651,"section_number":"33.2-1506","catch_line":"Exemption from taxation; exemption from Virginia Public Procurement Act","history":"2011, cc. 830, 868, \u00a7 33.1-23.12; 2014, c. 805.","full_text":"A\n\nThe Bank will be performing an essential governmental function in the exercise of the powers conferred upon it by this article. Accordingly, the Bank shall not be required to pay any taxes or assessments to the Commonwealth or its localities or any political subdivision thereof upon any capital, moneys or any property or upon any operations of the Bank or the income therefrom, or any taxes or assessments upon any project or any property or project obligation acquired by the Bank under the provisions of this article or upon the income therefrom.B\n\nThe provisions of the Virginia Public Procurement Act (§ 2.2-4300 et seq.) shall not apply to the Bank in the exercise of any power conferred under this article.","order_by":null,"text":{"0":{"id":257941,"text":"The Bank will be performing an essential governmental function in the exercise of the powers conferred upon it by this article. Accordingly, the Bank shall not be required to pay any taxes or assessments to the Commonwealth or its localities or any political subdivision thereof upon any capital, moneys or any property or upon any operations of the Bank or the income therefrom, or any taxes or assessments upon any project or any property or project obligation acquired by the Bank under the provisions of this article or upon the income therefrom.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":257942,"text":"The provisions of the Virginia Public Procurement Act (§ 2.2-4300 et seq.) shall not apply to the Bank in the exercise of any power conferred under this article.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":13651,"edition_id":1,"name":"Virginia Transportation Infrastructure Bank","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":13147,"metadata":{},"date_created":"2026-06-26 03:45:28","date_modified":"2026-06-26 03:45:28","permalink":{"id":206487,"object_type":"structure","relational_id":13651,"identifier":"1","token":"33.2\/III\/15\/1","url":"\/33.2\/III\/15\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13147,"edition_id":1,"name":"Transportation Funding","identifier":"15","label":"chapter","depth":3,"order_by":1,"parent_id":13146,"metadata":{},"date_created":"2026-06-26 03:44:21","date_modified":"2026-06-26 03:44:21","permalink":{"id":206485,"object_type":"structure","relational_id":13147,"identifier":"15","token":"33.2\/III\/15","url":"\/33.2\/III\/15\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13146,"edition_id":1,"name":"Transportation Funding and Development","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12806,"metadata":{},"date_created":"2026-06-26 03:44:21","date_modified":"2026-06-26 03:44:21","permalink":{"id":206483,"object_type":"structure","relational_id":13146,"identifier":"III","token":"33.2\/III","url":"\/33.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12806,"edition_id":1,"name":"Highways and Other Surface Transportation Systems","identifier":"33.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:54","date_modified":"2026-06-26 03:43:54","permalink":{"id":204785,"object_type":"structure","relational_id":12806,"identifier":"33.2","token":"33.2","url":"\/33.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":56384,"structure_id":13651,"section_number":"33.2-1500","catch_line":"Legislative findings and purposes","url":"\/33.2-1500\/","token":"33.2\/III\/15\/1\/33.2-1500","metadata":false},{"id":62146,"structure_id":13651,"section_number":"33.2-1501","catch_line":"Definitions","url":"\/33.2-1501\/","token":"33.2\/III\/15\/1\/33.2-1501","metadata":false},{"id":83639,"structure_id":13651,"section_number":"33.2-1502","catch_line":"Creation of the Virginia Transportation Infrastructure Bank","url":"\/33.2-1502\/","token":"33.2\/III\/15\/1\/33.2-1502","metadata":false},{"id":66089,"structure_id":13651,"section_number":"33.2-1503","catch_line":"Eligibility and project selection","url":"\/33.2-1503\/","token":"33.2\/III\/15\/1\/33.2-1503","metadata":false},{"id":73129,"structure_id":13651,"section_number":"33.2-1504","catch_line":"Grants from the Commonwealth Transportation Board","url":"\/33.2-1504\/","token":"33.2\/III\/15\/1\/33.2-1504","metadata":false},{"id":74721,"structure_id":13651,"section_number":"33.2-1505","catch_line":"Project obligations","url":"\/33.2-1505\/","token":"33.2\/III\/15\/1\/33.2-1505","metadata":false},{"id":71556,"structure_id":13651,"section_number":"33.2-1506","catch_line":"Exemption from taxation; exemption from Virginia Public Procurement Act","url":"\/33.2-1506\/","token":"33.2\/III\/15\/1\/33.2-1506","metadata":false},{"id":54624,"structure_id":13651,"section_number":"33.2-1507","catch_line":" Reporting requirement","url":"\/33.2-1507\/","token":"33.2\/III\/15\/1\/33.2-1507","metadata":false}],"previous_section":{"id":74721,"structure_id":13651,"section_number":"33.2-1505","catch_line":"Project obligations","url":"\/33.2-1505\/","token":"33.2\/III\/15\/1\/33.2-1505","metadata":false},"next_section":{"id":54624,"structure_id":13651,"section_number":"33.2-1507","catch_line":" Reporting requirement","url":"\/33.2-1507\/","token":"33.2\/III\/15\/1\/33.2-1507","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/33.2-1506\/","history_text":"

This law was first created in 2011. The record of its establishment is cataloged in chapters 830<\/a> and 868<\/a> 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. It has been modified 1 time. 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. That modification is as follows: in 2014, chapter 805<\/a>.<\/p>","references":false,"refers_to":[{"id":70034,"section_number":"2.2-4300","catch_line":"Short title; purpose; declaration of intent","order_by":null,"url":"\/2.2-4300\/"}],"permalink":{"id":206513,"object_type":"law","relational_id":71556,"identifier":"33.2-1506","token":"33.2\/III\/15\/1\/33.2-1506","url":"\/33.2-1506\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/33.2-1506\/","token":"33.2\/III\/15\/1\/33.2-1506","dublin_core":{"Title":"Exemption from taxation; exemption from Virginia Public Procurement Act","Type":"Text","Format":"text\/html","Identifier":"\u00a7 33.2-1506","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The Bank<\/span> will be performing an essential governmental function in the exercise of the powers conferred upon it by this article. Accordingly, the Bank<\/span> shall not be required to pay any taxes or assessments to the Commonwealth or its localities or any political subdivision thereof upon any capital, moneys or any property or upon any operations of the Bank<\/span> or the income therefrom, or any taxes or assessments upon any project or any property or project obligation<\/span> acquired by the Bank<\/span> under the provisions of this article or upon the income therefrom. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The provisions of the Virginia Public Procurement Act (§ 2.2-4300<\/a> et seq.) shall not apply to the Bank<\/span> in the exercise of any power conferred under this article. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nEXEMPTION FROM TAXATION; EXEMPTION FROM VIRGINIA PUBLIC PROCUREMENT ACT (\u00a7\n33.2-1506)\n\nA. The Bank will be performing an essential governmental function in the\nexercise of the powers conferred upon it by this article. Accordingly, the Bank\nshall not be required to pay any taxes or assessments to the Commonwealth or its\nlocalities or any political subdivision thereof upon any capital, moneys or any\nproperty or upon any operations of the Bank or the income therefrom, or any\ntaxes or assessments upon any project or any property or project obligation\nacquired by the Bank under the provisions of this article or upon the income\ntherefrom.\n\nB. The provisions of the Virginia Public Procurement Act (§ 2.2-4300 et\nseq.) shall not apply to the Bank in the exercise of any power conferred under\nthis article.\n\nHISTORY: 2011, cc. 830, 868, \u00a7 33.1-23.12; 2014, c. 805.","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}}