19-29-39 - Property and income of authority exempt from taxation.
§ 19-29-39. Property and income of authority exempt from taxation.
Any property in this state acquired by an authority for railroad purposes pursuant to the provisions of this chapter, and any income derived by the authority from the ownership, operation or control thereof shall be exempt from taxation to the same extent as other property belonging to political subdivisions of this state.
Sources: Laws, 1980, ch. 544, § 20, eff from and after July 1, 1980.