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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>355130</law_id><section_number>23.1-1234</section_number><catch_line>Exemption from taxation</catch_line><edition url="https://vacode.org/2026/" slug="2026" current="TRUE" last_updated="2026-08-02">2026</edition><structure><unit label="title" level="1" order_by="62" identifier="23.1">Institutions of Higher Education; Other Educational and Cultural Institutions</unit><unit label="subtitle" level="2" order_by="3" identifier="III">Management and Financing</unit><unit label="chapter" level="3" order_by="3" identifier="12">Virginia College Building Authority</unit><unit label="article" level="4" order_by="2" identifier="2">Nonprofit Private Institutions of Higher Education; Projects</unit></structure><text>
						<section><p>Neither the <span class="dictionary">Authority</span> nor its agent are required to pay any taxes or assessments upon or with respect to a <span class="dictionary">project</span>, any property acquired or used by the <span class="dictionary">Authority</span> or its agent under the provisions of this article, or the income from any such <span class="dictionary">project</span> or property. Any <span class="dictionary"><span class="dictionary">bonds</span></span> issued under the provisions of this article, the transfer of such <span class="dictionary"><span class="dictionary">bonds</span></span>, and the income from such <span class="dictionary"><span class="dictionary">bonds</span></span>, including any profit made on the sale of such <span class="dictionary"><span class="dictionary">bonds</span></span>, are exempt from taxation of any kind by the Commonwealth and the localities and other political subdivisions of the Commonwealth.</p></section></text><history>1972, c. 686, &#xA7; 23-30.53; 2016, c. 588.</history><metadata></metadata></law>
