9511.7 - Exemption from Commonwealth taxation. - Pennsylvania Statutes

§ 9511.7. Exemption from Commonwealth taxation. The effectuation of the purposes of this chapter is for the benefit of the citizens of this Commonwealth and for the improvement of their commerce and prosperity. Since the commission will be performing essential government functions in effectuating these purposes, the commission shall not be required to pay any tax or assessment on any property acquired or used by it for the purposes provided under this chapter. A bond, note or other obligation issued by the commission, its transfer and the income from its issuance and transfer, including any profits made on the sale of the bond, note or other obligation, shall be free from taxation within the Commonwealth. (July 18, 2007, P.L.169, No.44, eff. imd.) 2007 Amendment. Act 44 added section 9511.7. Section 11.1 of Act 44 provided that Act 44 shall apply retroactively to July 1, 2007.