10.1-1024 - Gifts and bequests to Foundation.

§ 10.1-1024. Gifts and bequests to Foundation.

Gifts, devises and bequests of money, securities and other assets accepted bythe Foundation, whether personal or real property, shall be deemed to begifts to the Commonwealth, which shall be exempt from all state and localtaxes and shall be regarded as property of the Commonwealth for the purposesof all tax laws.

(1992, c. 426; 2000, c. 1053.)