62.1-219 - Exemption from taxation. - Virginia Statutes

§ 62.1-219. Exemption from taxation.

As set forth in § 62.1-200, the Authority will be performing an essentialgovernmental function in the exercise of the powers conferred upon it by thischapter. Accordingly, the Authority shall not be required to pay any taxes orassessments upon any project or any property or upon any operations of theAuthority or the income therefrom, or any taxes or assessments upon anyproject or any property or local obligation acquired, credit enhanced or usedby the Authority under the provisions of this chapter or upon the incometherefrom. Any bonds and credit enhancements issued by the Authority underthe provisions of this chapter, the transfer thereof and the incometherefrom, including any profit on the sale thereof, shall at all times befree from taxation and assessment of every kind by the Commonwealth and bythe local governments and other political subdivisions of the Commonwealth.

(1984, c. 699; 1985, c. 67; 1998, c. 399.)