§ 33.1-307. Exemption from taxation
The exercise of the powers granted by this article will be in all respects for the benefit of the people of the Commonwealth, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions, and as the operation and maintenance of turnpike projects by the Board will constitute the performance of essential government functions, the Board shall not be required to pay any taxes or assessments upon any turnpike project or any property acquired or used by the Board under the provisions of this article or upon the income therefrom, and the bonds issued under the provisions of this article, their transfer and the income therefrom (including any profit made on the sale thereof) shall at all times be free from taxation within the Commonwealth.
(Code 1950, § 33-255.12; 1952, c. 223; 1970, c. 322.)Sections: Previous 33.1-300 33.1-301 33.1-302 33.1-303 33.1-304 33.1-305 33.1-306 33.1-307 33.1-308 33.1-309 33.1-310 33.1-311 33.1-312 33.1-313 33.1-314 Next
Last modified: April 3, 2009