15.2-7220 - Taxation.
§ 15.2-7220. Taxation.
The exercise of the powers granted by this Act shall in all respects bepresumed to be for the benefit of the public, for the increase of theircommerce and for the promotion of their health, safety, welfare, convenience,and prosperity, and as the operation and maintenance of any service that theAuthority is authorized to provide will constitute the performance of anessential governmental function, the Authority shall not be required to payany taxes or assessments upon any facilities acquired and constructed by itunder the provisions of this Act and the bonds issued under the provisions ofthis Act, their transfer, and the income therefrom, including any profit madeon the sale thereof, shall at all times be free and exempt from taxation bythe Commonwealth and by any political subdivision thereof. Persons, firms,partnerships, associations, corporations, and organizations leasing propertyof the Authority or doing business on property of the Authority shall besubject to and liable for payment of all applicable taxes of the politicalsubdivision in which such leased property lies or in which business isconducted including but not limited to any leasehold tax on real property andtaxes on the sale of utility services and local general retail sales and usetaxes, taxes to be paid on licenses in respect to any business, profession,vocation or calling, and taxes upon consumers of gas, electricity, telephone,and other public utility services. The Authority shall continue to pay orimpute any taxes presently paid or imputed by Bristol Virginia Utilities andto collect and remit all taxes presently collected and remitted by BristolVirginia Utilities.
(2010, cc. 117, 210.)