CODE OF VIRGINIA

EXEMPTION FROM TAXATION; AUTHORITIES TO BE MUNICIPAL CORPORATE INSTRUMENTALITIES
OF COMMONWEALTH (§ 15.2-6314)

The bonds or other securities issued by an authority, the interest thereon, and
all real and personal property and any interest therein of an authority, and all
income derived therefrom by an authority shall at all times be free from
taxation by the Commonwealth, or by any political subdivision thereof. The
authority shall be regarded as a municipal corporate instrumentality of the
Commonwealth for the purpose of discharging its functions and exercising its
powers under this chapter.

HISTORY: Code 1950, § 15-952; 1954, c. 645; 1962, c. 623, § 15.1-1335; 1997,
c. 587.