                                 CODE OF VIRGINIA

GOVERNMENTAL FUNCTION; EXEMPTION FROM TAXATION (§ 33.2-299.3)

The exercise of the powers granted by this article will 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 rail facilities by the
Authority and the undertaking of activities in the furtherance of the purposes
of the Authority will constitute the performance of the essential governmental
functions, the Authority shall not be required to pay any taxes or assessments
upon any rail facilities 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 hereby granted shall not be construed to extend to
persons conducting on the premises of any rail facility businesses for which
local or state taxes would otherwise be required.

HISTORY: 2020, cc. 1230, 1275.