                                 CODE OF VIRGINIA

EXEMPTION FROM TAXES OR ASSESSMENTS (§ 2.2-2214)

The exercise of the powers granted by this article shall be in all respects for
the benefit of the people of the Commonwealth, for the increase of their
commerce and prosperity, and for the improvement of their health and living
conditions, and as the operation and maintenance of the projects by the
Authority and the undertaking of activities in the furtherance of the purposes
of the Authority constitutes the performance of the essential governmental
functions, the Authority shall not be required to pay any taxes or assessments
upon any project or any property acquired or used by the Authority under the
provisions of this article or upon the income therefrom, including sales and use
taxes on the tangible personal property used in the operations of the Authority.
The exemption granted in this section shall not be construed to extend to
persons conducting on the premises of the facility businesses for which local or
state taxes would otherwise be required.
		Any bonds or refunding bonds issued under the provisions of this article and
any transfer of such bonds shall at all times be free from state and local
taxation. The interest on the bonds and any refunding bonds or bond anticipation
notes shall at all times be exempt from taxation by the Commonwealth and by any
of its political subdivisions.

HISTORY: 1995, c. 758, § 9-266.18; 2001, c. 844.