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2001 SESSION

018135406
SENATE BILL NO. 940
Offered January 10, 2001
Prefiled January 8, 2001
A BILL to amend the Code of Virginia by adding in Article 4 of Chapter 36 of Title 58.1 a section numbered 58.1-3650.905, designating certain organizations to be exempt from property taxation.
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Patron-- Byrne
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Referred to Committee on Finance
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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 a section numbered 58.1-3650.905 as follows:

§ 58.1-3650.905. Property of Homestretch, Inc.

A. Homestretch, Inc., a nonprofit corporation, is hereby designated as a charitable and benevolent organization within the context of Section 6(a)(6) of Article X of the Constitution of Virginia.

B. Property located at 2838 Annandale Road, No. 335; 8001 Chanute Place, No. 13; and 2904 Kings Chapel Road, No. 10 in Fairfax County, owned by Homestretch, Inc. and used by it exclusively for charitable and benevolent purposes on a nonprofit basis as set forth in subsection A of this section, is hereby determined to be exempt from local taxation.