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1996 SESSION

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961925400
HOUSE BILL NO. 255 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. ---------- Patron-- Phillips ---------- 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 Oxbow Project

A. The Oxbow Project, a nonprofit organization, 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 Wise County and in the Town of Saint Paul, owned by the Oxbow Project 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.