Chap. 119.—An ACT to authorize cities, towns and counties to exempt manufac-
turing establishments and works of internal improvements from local taxation.
[S B 16]

Approved March 17, 1930

I. Be it enacted by the general assembly of Virginia, That the
governing bodies of the cities, towns and counties in this State, be,
and they are hereby given authority to exempt manufacturing estab-
lishments and works of internal improvement, from local taxation
for a period of not exceeding five years, as an inducement to their
location in such city, town or county, in pursuance of the provisions
of section one hundred and eighty-nine of the Constitution of Vir-
ginia; provided, however, that no such manufacturing establishment
or work of internal improvement shall be so exempted which would
compete with any existing establishment or industry in said city, town
or county; and provided further, nor until the governing body of such
county, city or town shall enter of record its conclusion that the loss
in revenue due to such exemptions will be more than compensated by
the increased taxable values created by the location of such new indus-
try after the period of exemption has expired.