Bonds, their transfer and the income therefrom, including any profit made on the sale thereof, shall at all times be exempt from all taxation by the Commonwealth or any political subdivision thereof, except inheritance or gift taxes.
Va. Code Ann. § 15.2-5422
Bonds exempt from taxation
Known as the Electric Authorities Act
The act spans §§ 15–15 (36 sections).
1979, c. 416, § 15.1-1625; 1997, c. 587.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.