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1995 SESSION

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LD4594260
HOUSE BILL NO. 1586 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. ----------
Patrons--Hall, Cantor, Cunningham, Jones, D.C., Reid, Rhodes and Watkins; Senators: Lambert and Marsh
---------- 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 Old Dominion Chapter, National Railway Historical Society.

A. The Old Dominion Chapter, National Railway Historical Society, a nonprofit corporation, is hereby designated as a cultural and historical organization within the context of Section 6(a)(6) of Article X of the Constitution of Virginia.

B. Property located in the City of Richmond, owned by the Old Dominion Chapter, National Railway Historical Society and used by it exclusively for cultural and historical purposes on a nonprofit basis as set forth in subsection A of this section, is hereby determined to be exempt from local taxation.