                                 CODE OF VIRGINIA

REVENUE SHARING AGREEMENTS (§ 33.2-3807)

Notwithstanding the requirements of Chapter 34 (§ 15.2-3400 et seq.) of Title
15.2, the members may agree to a revenue and economic growth-sharing arrangement
with respect to tax revenues and other income and revenues generated by any
facility owned by the authority. Such members may be located in any jurisdiction
participating in the Appalachian Region Interstate Compact or a similar
agreement of interstate cooperation for economic development authorized by law.
The obligations of the parties to any such agreement shall not be construed to
be debt within the meaning of Article VII, Section 10 of the Constitution of
Virginia. Any such agreement shall be approved by a majority vote of the
governing bodies of the members reaching such an agreement but shall not require
any other approval.

HISTORY: 2021, Sp. Sess. I, cc. 353, 354.