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1999 SESSION
Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding a section numbered 58.1-3650.804 as follows:
§ 58.1-3650.804. Property of Point of Honor, Inc.
A. Point of Honor, Inc., a nonprofit organization, is hereby designated as a historical and cultural organization within the context of Section 6 (a) (6) of Article X of the Constitution of Virginia.
B. Effective retroactive to May 1, 1990, property located in the City of Lynchburg, owned by Point of Honor, Inc., and used by it exclusively for historical and cultural purposes on a nonprofit basis as set forth in subsection A of this section, is hereby determined to be exempt from local taxation.