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1996 SESSION

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962200340
HOUSE BILL NO. 46 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-- May and Mims; Senator: Waddell ---------- 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 Purcellville Preservation Association.

A. The Purcellville Preservation Association, 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 Loudoun County, owned by the Purcellville Preservation Association 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.