The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of the Commonwealth and for the increase of their commerce and prosperity and is a public purpose, and as the operation and maintenance of the project will constitute the performance of essential governmental functions, the Commission shall not be required to pay any taxes or assessments upon the project or any property acquired by the Commission or under its jurisdiction, control, possession, or supervision, or upon its activities in the operation and maintenance of the project, or used by the Commission under the provisions of this chapter, or upon the income therefrom, and the bonds issued under the provisions of this chapter, their transfer, and the income therefrom, including any profit made on the sale thereof, shall at all times be free from all state and local taxation within the Commonwealth.
1956, c. 714; 2014, c. 805; 2015, c. 256.
Structure Code of Virginia
Title 33.2 - Highways and Other Surface Transportation Systems
Chapter 22 - Chesapeake Bay Bridge and Tunnel District and Commission
§ 33.2-2201. Chesapeake Bay Bridge and Tunnel District
§ 33.2-2202. Chesapeake Bay Bridge and Tunnel Commission
§ 33.2-2203. General powers of the Commission
§ 33.2-2204. Additional powers of the Commission
§ 33.2-2205. Regulations of the Commission; enforcement
§ 33.2-2206. Acquisition of property
§ 33.2-2207. Consent of Commonwealth to use subaqueous soil of the Chesapeake Bay
§ 33.2-2209. Bonds not to constitute a debt or pledge of taxing power
§ 33.2-2212. Cessation of tolls
§ 33.2-2213. Transfer to Commonwealth
§ 33.2-2216. Governmental function; exemption from taxation
§ 33.2-2218. Bonds eligible for investment
§ 33.2-2219. Protection from competition
§ 33.2-2220. Miscellaneous; penalties