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1999 SESSION

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992638296
HOUSE BILL NO. 1597 Offered January 13, 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-- Howell; Senator: Chichester ---------- 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 Central Virginia Education Telecommunication Corporation.

A. The Central Virginia Education Telecommunication 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 Stafford County, owned by the Central Virginia Education Telecommunication 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.