58.1-3662 - Generating and cogenerating equipment used for energy conversion. - Virginia Statutes

§ 58.1-3662. Generating and cogenerating equipment used for energy conversion.

Generating equipment installed after December 31, 1974, for the purpose ofconverting from oil or natural gas to coal or to wood, wood bark, woodresidue, or to any other alternate energy source for manufacturing, and anycogenerating equipment installed since such date for use in manufacturing,are hereby declared to be a separate class of property and shall constitute aclassification for local taxation separate from other classifications oftangible personal property. The governing body of any county, city or townmay, by ordinance, exempt or partially exempt such property from localtaxation, and such ordinance shall become effective on January 1 of the yearfollowing the year of adoption.

(Code 1950, § 58-16.5; 1980, c. 675; 1982, c. 58; 1984, c. 675.)