Virginia § 23.1-3228 - Gifts and bequests; exemption from taxation
Full text of Virginia Code of Virginia § 23.1-3228 — Gifts and bequests; exemption from taxation, with citation guidance and answers to common questions.
§ 23.1-3228. Gifts and bequests; exemption from taxation
Gifts and bequests of money, securities, or other property to the Fund, and the interest or income from such gifts and bequests, are gifts to the Commonwealth, and the Fund is exempt from all state and local taxes. Unless otherwise restricted by the terms of the gift or bequest, the Commission may sell, exchange, or otherwise dispose of such gifts and bequests. The proceeds from such transactions shall be deposited to the credit of the Fund. The Commission shall not actively solicit private donations for the Fund; however, this limitation shall not prevent the Commission from actively encouraging financial support for the Commission through the special license plate and income tax checkoff programs. Notwithstanding any other provision of this section, the Commission may accept and solicit public and private contributions for the limited purpose of assisting nonprofit arts and cultural institutions and organizations in the Commonwealth to enhance the fiscal stability, financial management, and fundraising abilities of such organizations.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 23.1-3228
What does Code of Virginia § 23.1-3228 cover?
Section 23.1-3228 ("Gifts and bequests; exemption from taxation") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 23.1-3228?
A common citation format is "Code of Virginia § 23.1-3228" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 23.1-3228 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.