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2001 SESSION

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011496776
SENATE BILL NO. 939 FLOOR AMENDMENT IN THE NATURE OF A SUBSTITUTE (Proposed by Delegate Hull on February 19, 2001) (Patron Prior to Substitute--Senator Byrne) A BILL to amend the Code of Virginia by adding a section numbered 58.1-3212.1, relating to local real estate tax liability.

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 58.1-3212.1 as follows:

§ 58.1-3212.1. Restrictions and exemptions in certain localities.

In addition to the provisions of § 58.1-3211, any county operating under the urban county executive form of government may by ordinance raise the income and financial worth limitations for any exemption or deferral program to a maximum of no more than 125 percent of the income and financial worth limitations specified in the applicable provisions of § 58.1-3211.