§ 24-12-31 - Tax exemption. - Rhode Island Statutes

SECTION 24-12-31

   § 24-12-31  Tax exemption. – The exercise of the powers granted by this chapter will be in all respects forthe benefit of the people of the state, for the increase of their commerce andprosperity and for the improvement of their health and living conditions, andas the acquisition, construction, operation, and maintenance by the authorityof the projects as defined in this chapter as will constitute the performanceof essential governmental functions, the authority shall not be required to payany taxes or assessments upon the projects or upon any property acquired orused by the authority under the provisions of this chapter or upon the incomefrom the projects, and the bonds issued under the provisions of this chapter,their transfer and the income therefrom (including any profit made on the salethereof) shall at all times be free from taxation within the state.