                                 CODE OF VIRGINIA

SEPARATE CLASSIFICATION OF MACHINERY AND TOOLS USED IN SEMICONDUCTOR
MANUFACTURING (§ 58.1-3508.1)

Machinery and tools used in semiconductor manufacturing shall constitute a
classification for local taxation separate from other classifications of
machinery and tools as defined in § 58.1-3507. The governing body of any
county, city or town may levy a tax on such classification of property at a
different rate from the tax levied on other machinery and tools. The rate of tax
and the rate of assessment shall not exceed that applicable generally to
machinery and tools.

HISTORY: 1996, c. 971; 1997, c. 77.