                                 CODE OF VIRGINIA

EXEMPTION FROM TAXATION (§ 2.2-2324)

As set forth in subsection C of § 2.2-2315, the Authority shall be performing
an essential governmental function in the exercise of the powers conferred upon
it by this article. Accordingly, the Authority shall not be required to pay any
taxes or assessments upon any project or any property or upon any operations of
the Authority or the income therefrom. Agents, lessees, sublessees, or users of
tangible personal property owned by or leased to the Authority also shall not be
required to pay any sales or use tax upon such property or the revenue derived
therefrom.

HISTORY: 1999, cc. 852, 881, § 2.1-548.64; 2001, c. 844.