                                 CODE OF VIRGINIA

GOVERNMENTAL FUNCTION; EXEMPTION FROM TAXATION (§ 33.2-2216)

The exercise of the powers granted by this chapter will be in all respects for
the benefit of the people of the Commonwealth and for the increase of their
commerce and prosperity and is a public purpose, and as the operation and
maintenance of the project will constitute the performance of essential
governmental functions, the Commission shall not be required to pay any taxes or
assessments upon the project or any property acquired by the Commission or under
its jurisdiction, control, possession, or supervision, or upon its activities in
the operation and maintenance of the project, or used by the Commission under
the provisions of this chapter, or upon the income therefrom, and the bonds
issued under the provisions of this chapter, their transfer, and the income
therefrom, including any profit made on the sale thereof, shall at all times be
free from all state and local taxation within the Commonwealth.

HISTORY: 1956, c. 714; 2014, c. 805; 2015, c. 256.