Virginia § 59.1-542.1 - Local incentives; motor sports facilities
Full text of Virginia Code of Virginia § 59.1-542.1 — Local incentives; motor sports facilities, with citation guidance and answers to common questions.
§ 59.1-542.1. Local incentives; motor sports facilities
A. A locality that is home to a motor sports facility, as defined in § 58.1-4030, in the Commonwealth may propose local incentives that address the economic conditions within such locality and will help stimulate real property improvements and new job creation. Such local incentives may include: (i) reduction of permit fees; (ii) reduction of user fees; (iii) reduction of business, professional, and occupational license taxes; or (iv) partial exemption from taxation of substantially rehabilitated real estate pursuant to § 58.1-3221. The extent and duration of such incentives shall conform to the requirements of the Constitutions of Virginia and the United States. Local incentives may also include regulatory flexibility, including (a) special zoning districts, (b) permit process reform, (c) exemptions from local ordinances, or (d) other public incentives that are binding on the locality.
B. A locality may establish eligibility criteria for local incentives that differ from the criteria required to qualify for the incentives provided by this chapter.
2024, c. 572.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 59.1-542.1
What does Code of Virginia § 59.1-542.1 cover?
Section 59.1-542.1 ("Local incentives; motor sports facilities") 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 § 59.1-542.1?
A common citation format is "Code of Virginia § 59.1-542.1" (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 § 59.1-542.1 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.