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2001 SESSION

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018838500
SENATE BILL NO. 909 Offered January 10, 2001 Prefiled January 5, 2001 A BILL to amend the Code of Virginia by adding in Article 4 of Chapter 36 of Title 58.1 section numbered 58.1-3650.905, designating certain organizations to be exempt from property taxation. ---------- Patrons-- Mims; Delegate: May ---------- Referred to Committee on Finance ----------

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding in Article 4 of Chapter 36 of Title 58.1 section numbered 58.1-3650.905 as follows:

§ 58.1-3650.905. Property of National Sporting Library, Incorporated.

A. National Sporting Library, Incorporated, a nonprofit corporation, is hereby designated as a benevolent and cultural organization within the context of Section 6(a)(6) of Article X of the Constitution of Virginia.

B. Property located in Loudoun County and the Town of Middleburg, owned by the National Sporting Library, Incorporated and acquired by it on May 17, 2000, and used by it exclusively for benevolent and cultural purposes on a nonprofit basis as set forth in subsection A of this section, is hereby determined to be exempt from local taxation effective January 1, 2001.