58.1-608.1 - Refund authorized for certain building materials. - Virginia Statutes

§ 58.1-608.1. Refund authorized for certain building materials.

A. From July 1, 1993, through June 30, 2004, any organization meeting thefollowing conditions and criteria may apply to the Department of Taxation fora refund of any taxes paid on tangible personal property pursuant to thischapter:

1. The organization is exempt from taxation under § 501(c)(3) of the InternalRevenue Code;

2. The organization is organized and operated primarily to acquire land andpurchase materials to erect or rehabilitate low-cost homes on such land; and

3. The homes are sold at cost on a nondiscriminatory basis to persons whootherwise would be unable to afford to buy a home through conventional means.

B. Notwithstanding the provisions of subsection A, an organization exemptfrom taxation under § 501(c)(3) of the Internal Revenue Code may apply for arefund of any sales and use tax paid on tangible personal property used torepair or rehabilitate homes owned and occupied by low-income persons whocould not otherwise afford to finance the rehabilitation or repair of theirhomes.

C. The Department of Taxation may require that any organization submit salestax receipts along with the refund application to qualify for the refundauthorized pursuant to this section.

D. The provisions of this section do not apply to any organization to theextent that the organization already is exempt from taxes imposed on tangiblepersonal property by this chapter pursuant to § 58.1-609.11.

(1989, c. 739; 1990, c. 349; 1993, c. 647; 1994, c. 728; 1999, cc. 12, 334;2000, c. 493.)