§ 42-55-24 - Tax exemption. - Rhode Island Statutes

SECTION 42-55-24

   § 42-55-24  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 their well being and prosperity andfor the improvement of their social and economic conditions, and thecorporation shall not be required to pay any tax or assessment on any propertyowned by the corporation under the provisions of this chapter or upon theincome from the property; nor shall the corporation be required to pay anyrecording fee or transfer tax of any kind on account of instruments recorded byit or on its behalf. Any bonds, notes, or other obligations issued by thecorporation under the provisions of this chapter, their transfer, and theincome from them (including any profits made on their sale), shall at all timesbe free from taxation by the state or any political subdivision or otherinstrumentality of the state, excepting inheritance, estate, and gift taxes.