                                 CODE OF VIRGINIA

REVENUE SHARING AGREEMENTS (§ 15.2-6214)

Notwithstanding the requirements of Chapter 34 (§ 15.2-3400 et seq.) of Title
15.2, the County of Alleghany and the Town of Clifton Forge may agree to a
revenue and economic growth sharing arrangement with respect to tax revenues
generated by any industry, business or other for-profit employment generating
enterprise locating in any of the localities. The obligations of the parties to
any such agreement shall not be construed to be debt within the meaning of
Article VII, Section 10 of the Constitution of Virginia. Any such agreement
shall be approved by a majority vote of the governing bodies of the localities
reaching agreement but shall not require any other approval.

HISTORY: 1993, c. 982, § 15.1-1675; 1997, c. 587; 2006, c. 861.