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1996 SESSION

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964812492
HOUSE BILL NO. 220 Offered January 10, 1996 A BILL to amend the Code of Virginia by adding a section numbered 58.1-3650.650, designating certain organizations to be exempt from property taxation. ---------- Patrons-- Woodrum, Cranwell and Thomas ---------- 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 58.1-3650.650 as follows:

§ 58.1-3650.650. Property of Habitat for Humanity in the Roanoke Valley, Inc.

A. Habitat for Humanity in the Roanoke Valley, 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 the City of Roanoke, owned by Habitat for Humanity in the Roanoke Valley, 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.

C. This exemption is contigent upon Habitat for Humanity in the Roanoke Valley, Inc.'s payment on or before October 5 of each year a service charge in the amount equal to twenty percent (20%) of the City of Roanoke real estate tax levy, which would be applicable to Habitat for Humanity in the Roanoke Valley, Inc. were it not exempt from property tax, for so long as Habitiat for Humanity in the Roanoke Valley, Inc. is exempt from property tax.