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1996 SESSION

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962146484
HOUSE BILL NO. 193 Offered January 10, 1996 A BILL to amend the Code of Virginia by adding sections numbered 58.1-3650.650 through 58.1-3650.652, designating certain organizations to be exempt from property taxation. ---------- Patrons-- Nixon, Cox, Ingram and Watkins; Senator: 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 sections numbered 58.1-3650.650 through 58.1-3650.652 as follows:

§ 58.1-3650.650. Property of Iverson Properties, Inc.

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

B. Property located in Chesterfield County, owned by Iverson Properties, Inc., and used by it exclusively for charitable purposes on a nonprofit basis as set forth in subsection A of this section, is hereby determined to be exempt from local taxation.

§ 58.1-3650.651. Property of Terjo Properties, Inc.

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

B. Property located in Chesterfield County, owned by Terjo Properties, Inc., and used by it exclusively for charitable purposes on a nonprofit basis as set forth in subsection A of this section, is hereby determined to be exempt from local taxation.

§ 58.1-3650.652. Property of Winters Hill Properties, Inc.

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

B. Property located in Chesterfield County, owned by Winters Hill Properties, Inc., and used by it exclusively for charitable purposes on a nonprofit basis as set forth in subsection A of this section, is hereby determined to be exempt from local taxation.