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1995 SESSION

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LD6037492
HOUSE BILL NO. 1497 Offered January 11, 1995 A BILL to amend the Code of Virginia by adding a section numbered 58.1-3650.610, designating certain organizations to be exempt from property taxation. ---------- Patron--Woodrum ---------- Referred to Committee on Finance ----------

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 58.1-3650.610 as follows:

§ 58.1-3650.610. Property of Young Life of Virginia, Inc.

A. Young Life of Virginia, 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 (approximately 273 acres) located in Rockbridge County, owned by Young Life of Virginia, 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.