CODE OF VIRGINIA

GIFTS, DEVISES AND BEQUESTS (§ 10.1-1803)

Gifts, devises or bequests, whether personal or real property, and the income
therefrom, accepted by the Foundation, shall be deemed to be gifts to the
Commonwealth, which shall be exempt from all state and local taxes, and shall be
regarded as the property of the Commonwealth for the purposes of all tax laws.

HISTORY: 1966, c. 525, § 10-165; 1988, c. 891.