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2003 SESSION
Be it enacted by the General Assembly of Virginia:
1. That § 58.1-3940 of the Code of Virginia is amended and reenacted as follows:
§ 58.1-3940. Limitation on collection of local taxes.
A. Except as otherwise specifically provided, collection of local taxes shall only be enforceable for five years following December 31 of the year for which such taxes were assessed.
B. Real property taxes shall be enforceable by sale under Article 4 (§
58.1-3965 et seq.) of the property on which such taxes were assessed and by other
means permitted under this chapter for twenty 20 years after December 31 of the
year for which such taxes were assessed, provided that whenever taxes or portions of taxes that would
otherwise be due have been deferred pursuant to an ordinance enacted in
conformity with Article 2 (§ 58.1-3210 et seq.) or Article 2.1 (§ 58.1-3219 et
seq.) of Chapter 32 of this title, the statute of limitations provided by this subsection
shall be tolled with respect to taxes deferred during the pendency of such deferral.
C. Nothing in this section shall affect the collection of The limitation
periods provided in subsections A and B of this section shall not apply to
taxes or other charges that have been reduced to judgment or a judgment
lien resulting from a suit to collect taxes or other charges, which may be
collected by any means provided in this chapter or any means provided by general law
for the collection of judgments so long as the judgment or judgment lien remains
enforceable pursuant to general law.
D. The statutes of limitations established by this section shall be tolled, with respect to any tax obligation or tax lien not discharged or otherwise relieved or rendered unenforceable pursuant to applicable law, for any period during which all or substantially all of the assets or estate of the taxpayer are subject to the control or custody of any court or receiver, including without limitation any United States Bankruptcy Court.