Code of Virginia

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Code of Virginia
Title 15.2. Counties, Cities and Towns
Chapter 49. Industrial Development and Revenue Bond Act
1/22/2019

§ 15.2-4907. Fiscal impact statement.

Every request for industrial development (facility) financing when submitted to the governing body of the locality for approval shall be accompanied by a statement in the following form:

____________________
Date

________________________________________
(Name of Applicant)
________________________________________
(Facility)

a1. Maximum amount of financing sought$_____
b2. Estimated taxable value of the facility's real property to be constructed in the locality$_____
c3. Estimated real property tax per year using present tax rates$_____
d4. Estimated personal property tax per year using present tax rates$_____
e5. Estimated merchants' capital tax per year using present tax rates$_____
f6. a. Estimated dollar value per year of goods that will be purchased from Virginia companies within the locality$_____
gb. Estimated dollar value per year of goods that will be purchased from non-Virginia companies within the locality$_____
hc. Estimated dollar value per year of services that will be purchased from Virginia companies within the locality$_____
id. Estimated dollar value per year of services that will be purchased from non-Virginia companies within the
locality
$_____
j7. Estimated number of regular employees on year round basis$_____
k8. Average annual salary per employee$_____

Signature

________________________________________
Authority Chairman
________________________________________
Name of Authority

If one or more of the above questions do not apply to the facility indicate by writing N/A (not applicable) on the appropriate line.

The provisions of this section shall not apply to bonds, notes or other obligations issued pursuant to hearings held and governmental approvals obtained prior to the effective date of this act in compliance with federal law or regulation.

1983, c. 514, § 15.1-1378.2; 1997, c. 587; 1998, c. 728.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.