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1998 SESSION

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984309364
HOUSE BILL NO. 328 Offered January 15, 1998 A BILL to amend the Code of Virginia by adding a section numbered 58.1-3650.749, designating certain organizations to be exempt from property taxation. ---------- Patrons-- Morgan, Bloxom and Davis; Senators: Bolling and Norment ---------- 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 58.1-3650.749 as follows:

§ 58.1-3650.749. Property of The Rosewell Foundation, Inc.

A. The Rosewell Foundation, Inc., a nonprofit corporation, is hereby designated as a charitable and benevolent organization within the context of Section 6(a)(6) of Article X of the Constitution of Virginia.

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