CODE OF VIRGINIA

EXEMPTION FROM TAXATION (§ 2.2-2313)

The Authority is declared to be performing a public function and to be a public
body corporate and a political subdivision of the Commonwealth. Accordingly, the
income, including any profit made on the sale thereof from all bonds issued by
the Authority, shall at all times be exempt from all taxation by the
Commonwealth or any public subdivision thereof. If, after all indebtedness and
other obligations of the Authority are discharged, the Authority is dissolved,
its remaining assets shall inure to the benefit of the Commonwealth.

HISTORY: 1984, c. 749, § 9-233; 2001, c. 844.