Virginia Code 23.1-3013: (Effective until date pursuant to Acts 2023, cc. 756 and 778, cl. 5) Taxation
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A. The Medical School is not required to pay any taxes or assessments upon any project acquired and constructed by the Medical School under the provisions of this chapter.
Terms Used In Virginia Code 23.1-3013
- Bonds: includes bonds, notes, revenue certificates, lease participation certificates, and other evidences of indebtedness, payment obligations, or deferred purchase financing arrangements. See Virginia Code 23.1-3000
- Medical School: means the Eastern Virginia Medical School. See Virginia Code 23.1-3000
- Project: means any medical educational institution and medical facility, including colleges, schools, and divisions offering undergraduate and graduate programs for the health professions and sciences and such other courses of study as may be appropriate; medical and paramedical facilities; such other facilities deemed by the board as consistent with the powers and purposes of Eastern Virginia Medical School; all related and supporting facilities; and all necessary, desirable, or incidental lands, buildings, improvements, and other appurtenances and equipment. See Virginia Code 23.1-3000
B. The bonds issued under the provisions of this chapter, their transfer, the income from such bonds, and the income from the transfer of such bonds, including any profit made on the sale of such bonds, are exempt from taxation by the Commonwealth and any political subdivision of the Commonwealth.
2016, c. 588.