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1999 SESSION

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992417323
HOUSE BILL NO. 1549 Offered January 13, 1999 Prefiled January 11, 1999 A BILL to amend the Code of Virginia by adding a section numbered 58.1-3650.804, designating certain organizations to be exempt from property taxation. ---------- Patrons-- Landes; Senator: Hanger ---------- 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 58.1-3650.804 as follows:

§ 58.1-3650.804. Property of the 121 Verona Corporation.

A. The 121 Verona Corporation, a nonprofit corporation, is hereby designated as a benevolent organization within the context of Section 6(a)(6) of Article X of the Constitution of Virginia.

B. Property located in Augusta County, owned by the 121 Verona Corporation and used by it exclusively for benevolent purposes on a nonprofit basis as set forth in subsection A of this section, is hereby determined to be exempt from local taxation.