Article's fresh but short from the pilot. The link's there for credit. In its entirety, FYI:
RICHMOND
Legislation permitting Virginia Beach to grant tax breaks to a financially-troubled military aviation museum flew out of the Senate Finance Committee Tuesday morning.
Sen. Frank Wagner's SB 508 authorizes a locality to exempt real and personal property of federally recognized nonprofits that display "Warbirds to the general public" or use such pre-1955 militaryairplanes for educational purposes.
That proposed add-on to the state tax code is crafted specifically for the Military AviationMuseum in Pungo.
Its proprietor, Jerry Yagen, last summer said he could no longer afford to keep his collection of airplanes from the World War I and World War II eras and would be selling them.
The Virginian-Pilot recently reported that Yagen sold a dozen airplanes and has noted that he faces a lawsuit from a competitor that had hoped to acquire four trade schools he once owned.
In brief remarks about the bill Tuesday, Wagner presented it as an asset and "large tourist attraction" for Virginia Beach that hasn't previously relied on public dollars, unlike some other museums.
Also speaking in support of the measure was Beach lobbyist Bob Matthias. He said the $80,000 a year in lost tax revenue to the city would be more than made up for from other tourism revenue.
A similar bill has been filed by Del. Barry Knight, R-Virginia Beach, in the House of Delegates.
http://hamptonroads.com/2014/01/aviation-museum-tax-bill-soars-va-senate-panel