The governing body of a locality may by ordinance or resolution, or the governing bodies of two or more localities may by concurrent ordinances or resolutions or by agreement, create a tourism financing development authority for the purpose of supporting tourism infrastructure in localities. The name of the authority shall contain the word "authority." The authority shall be a public body politic and corporate. Any such locality that levies a transient occupancy tax pursuant to § 58.1-3819 shall designate any excess over two percent to be used for purposes of the authority except such revenues that are otherwise encumbered by the locality.
2007, c. 864.
Structure Code of Virginia
Title 15.2 - Counties, Cities and Towns
Chapter 55.2 - Tourism Financing Development Authority Act
§ 15.2-5517. One or more localities may create authority
§ 15.2-5518. Directors; qualifications; terms; vacancies; compensation and expenses; quorum; records
§ 15.2-5519. Powers of authority
§ 15.2-5520. Liability of authority
§ 15.2-5521. Dissolution of authority; disposition of property
§ 15.2-5522. Provisions of chapter controlling over other statutes and charters