{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/45.2-1723.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/45.2-1723.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/45.2-1723.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/45.2-1723.html"}],"law_id":55481,"edition_id":1,"section_id":55481,"structure_id":14250,"section_number":"45.2-1723","catch_line":"(Effective until July 1, 2029) Declaration of public purpose; exemption from taxation","history":"2019, cc. 555, 556, \u00a7 67-1606; 2021, Sp. Sess. I, c. 387.","full_text":"A\n\nThe exercise of the powers granted by this article shall be in all respects for the benefit of the citizens of the Commonwealth and for the promotion of their welfare, convenience, and prosperity.B\n\nThe Authority shall be deemed to be performing an essential governmental function in the exercise of the powers conferred upon it by this article, and the property of the Authority and its income and operations shall be exempt from taxation or assessments upon any property acquired or used by the Authority under the provisions of this article.","order_by":null,"text":{"0":{"id":203363,"text":"The exercise of the powers granted by this article shall be in all respects for the benefit of the citizens of the Commonwealth and for the promotion of their welfare, convenience, and prosperity.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":203364,"text":"The Authority shall be deemed to be performing an essential governmental function in the exercise of the powers conferred upon it by this article, and the property of the Authority and its income and operations shall be exempt from taxation or assessments upon any property acquired or used by the Authority under the provisions of this article.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":14250,"edition_id":1,"name":"Southwest Virginia Energy Research and Development Authority","identifier":"6","label":"article","depth":4,"order_by":1,"parent_id":13194,"metadata":{},"date_created":"2026-06-26 03:47:27","date_modified":"2026-06-26 03:47:27","permalink":{"id":224977,"object_type":"structure","relational_id":14250,"identifier":"6","token":"45.2\/V\/17\/6","url":"\/45.2\/V\/17\/6\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13194,"edition_id":1,"name":"Other Sources of Energy Generally; 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exemption from taxation","url":"\/45.2-1723\/","token":"45.2\/V\/17\/6\/45.2-1723","metadata":false},{"id":75551,"structure_id":14250,"section_number":"45.2-1724","catch_line":"(Effective until July 1, 2029) Sunset","url":"\/45.2-1724\/","token":"45.2\/V\/17\/6\/45.2-1724","metadata":false}],"previous_section":{"id":75533,"structure_id":14250,"section_number":"45.2-1722","catch_line":"(Effective until July 1, 2029) Confidentiality of information","url":"\/45.2-1722\/","token":"45.2\/V\/17\/6\/45.2-1722","metadata":false},"next_section":{"id":75551,"structure_id":14250,"section_number":"45.2-1724","catch_line":"(Effective until July 1, 2029) Sunset","url":"\/45.2-1724\/","token":"45.2\/V\/17\/6\/45.2-1724","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/45.2-1723\/","history_text":"

This law was first created in 2019. The record of its establishment is cataloged in chapters 555<\/a> and 556<\/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.<\/p>","references":false,"refers_to":false,"permalink":{"id":225003,"object_type":"law","relational_id":55481,"identifier":"45.2-1723","token":"45.2\/V\/17\/6\/45.2-1723","url":"\/45.2-1723\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/45.2-1723\/","token":"45.2\/V\/17\/6\/45.2-1723","dublin_core":{"Title":"(Effective until July 1, 2029) Declaration of public purpose; exemption from taxation","Type":"Text","Format":"text\/html","Identifier":"\u00a7 45.2-1723","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The exercise of the powers granted by this article shall be in all respects for the benefit of the citizens of the Commonwealth and for the promotion of their welfare, convenience, and prosperity. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Authority<\/span> shall be deemed to be performing an essential governmental function in the exercise of the powers conferred upon it by this article, and the property of the Authority<\/span> and its income and operations shall be exempt from taxation or assessments upon any property acquired or used by the Authority<\/span> under the provisions of this article. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\n(EFFECTIVE UNTIL JULY 1, 2029) DECLARATION OF PUBLIC PURPOSE; EXEMPTION FROM\nTAXATION (\u00a7 45.2-1723)\n\nA. The exercise of the powers granted by this article shall be in all respects\nfor the benefit of the citizens of the Commonwealth and for the promotion of\ntheir welfare, convenience, and prosperity.\n\nB. The Authority shall be deemed to be performing an essential governmental\nfunction in the exercise of the powers conferred upon it by this article, and\nthe property of the Authority and its income and operations shall be exempt from\ntaxation or assessments upon any property acquired or used by the Authority\nunder the provisions of this article.\n\nHISTORY: 2019, cc. 555, 556, \u00a7 67-1606; 2021, Sp. Sess. I, c. 387.","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}}