Virginia Code 58.1-3122.3: Commissioners to provide certain information to the Virginia Economic Development Partnership Authority; confidentiality of such information.
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A. Each commissioner of the revenue shall provide to the Virginia Economic Development Partnership Authority (the Authority), upon entering into a written agreement, such tax information as may be necessary to facilitate the administration and enforcement by the Authority of performance agreements with businesses that have received incentive awards, the provisions of § 58.1-3 notwithstanding.
Terms Used In Virginia Code 58.1-3122.3
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
B. Any tax information provided to the Authority under this section shall be confidential and shall not be divulged by the Authority. Any tax information so provided shall be used by the Authority solely for the purpose of verifying capital investment claims of those businesses that have received incentive awards.