                                 CODE OF VIRGINIA

EXEMPTION FROM TAXES OR ASSESSMENTS (§ 2.2-2363)

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 projects by the Authority
and the undertaking of activities in furtherance of the purpose of the Authority
constitute the performance of 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 tangible personal
property used in the operations of the Authority, and shall at all times be free
from state and local taxation. The exemption granted in this section shall not
be construed to extend to persons conducting on the premises of a facility
businesses for which local or state taxes would otherwise be required.

HISTORY: 2020, cc. 1164, 1169.