58.1-3606.1 - Property indirectly owned by government. - Virginia Statutes

§ 58.1-3606.1. Property indirectly owned by government.

Property indirectly owned by the Commonwealth or any political subdivisionthereof or by the United States shall include, but not be limited to, aleasehold interest or other right pursuant to a concession, as defined in §56-557, in a transportation facility and real property acquired orconstructed for the development and/or operation of the qualifyingtransportation facility when (i) the qualifying transportation facility isowned, or title to it is held, by the Commonwealth or any politicalsubdivision thereof or by the United States and is being developed and/oroperated pursuant to a concession under the Public-Private Transportation Actof 1995 (§ 56-556 et seq.) or similar federal law and (ii) the property orleasehold interest is required to be dedicated to the Commonwealth, itspolitical subdivision, or the United States upon the termination of theconcession.

(2006, c. 922.)