Section 4-3-8 Exemption of bonds, property and income of authority from taxation; concessionaires, tenants, etc., subject to state and local taxation. - Alabama Statutes

Section 4-3-8

Exemption of bonds, property and income of authority from taxation; concessionaires, tenants, etc., subject to state and local taxation.

The bonds issued by the authority and the income therefrom shall be exempt from all taxation in the state. All property and income of the authority shall be exempt from all state, county, municipal and other local taxation; provided, however, that this exemption shall not be construed to exempt concessionaires, licensees, tenants, operators or lessees of the authority from the payment of any taxes, including licenses or privilege taxes levied by the state, the county or any municipality in the state.

(Acts 1963, No. 265, p. 696, §16.)