§ 45-38.1-14 - Exemption from taxation. - Rhode Island Statutes

SECTION 45-38.1-14

   § 45-38.1-14  Exemption from taxation.– The exercise of the powers granted by this chapter are in all respects for thebenefit of the people of the state, for the increase of their commerce,welfare, and prosperity, and for the improvement of their health and livingconditions, and constitutes the performance of an essential governmentalfunction, and neither the corporation nor its agent nor the lessee shall or maybe required to pay any taxes or assessments upon or in respect of a project orany property acquired or used by the corporation or its agent or the lesseeunder the provisions of this chapter, or upon the income therefrom, and anybonds issued under the provisions of this chapter, their transfer, and theincome from the bonds, including any profit made on the sale of the bonds,shall at all times be free from taxation of every kind by the state and by themunicipalities and all other political subdivisions of the state.