10.1-217 - Gifts, devises and bequests.
§ 10.1-217. Gifts, devises and bequests.
Gifts, devises or bequests, whether personal or real property, and the incomederived therefrom, accepted by the Director, shall be deemed as gifts to theCommonwealth, which shall be exempt from all state and local taxes, and shallbe regarded as the property of the Commonwealth for the purposes of all taxlaws.
(1989, c. 553.)