§ 42-116-24 - Tax exemption.
SECTION 42-116-24
§ 42-116-24 Tax exemption. – (a) Bonds issued by the corporation in accordance with this chapter, theprincipal and the income from these bonds, including any profit made on thesale of these bonds, are, at all times, exempt from taxation by and within thestate.
(b) The exercise of the powers granted by this chapter are inall respects for the benefit of the people of the state, the increase of theircommerce, welfare, and prosperity and for the improvement of their health andliving conditions and constitute the performance of an essential governmentalfunction and the corporation, its assets, its properties, and its moneys, andthe income derived from these are exempt from all state, municipal, and localtaxes, excises and assessments; provided, however, that the corporation makespayments of real property taxes to municipalities and political subdivisionswith respect to the real property of the corporation (other than real propertyowned by the corporation and used for the conduct of its operations) located inthe municipalities and political subdivisions.
(c) With respect to any transfer of real estate or aninterest in real estate to or from the corporation, neither the corporation northe entity or person making or receiving the transfer are required to pay anyreal estate conveyance or transfer tax or recording fees of any kind on accountof instruments or documents recorded by or on behalf of the corporation or anyentity or person in connection with the transfer.