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1999 SESSION

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999820722
SENATE BILL NO. 795 Offered January 13, 1999 A BILL to amend the Code of Virginia by adding a section numbered 58.1-3650.804, designating certain property to be exempt from taxation. ---------- Patrons-- Norment and Bolling ---------- 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 Newport News Green Foundation, Inc.

A. Newport News Green 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 the City of Newport News, which is owned by Newport News Green 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.