§ 5-1-4-26 — Tax exemption

The exercise of the powers granted by this
chapter will be in all respects for the benefit of the people of the state,
for the increase of their commerce and prosperity, and for the
improvement of their health and living conditions, and as the operation
and maintenance of a project by an authority or its agent will constitute
the performance of essential governmental functions, such authority
shall not be required to pay any taxes or assessments upon or in respect
of a project or any property acquired or used by such authority under
the provisions of this chapter, or upon the income therefrom, and the
bonds issued under the provisions of this chapter, the interest thereon,
the proceeds received by a holder from the sale of such bonds to the
extent of the holder's cost of acquisition, or proceeds received upon
redemption prior to maturity or proceeds received at maturity, and the
receipt of such interest and proceeds shall be exempt from taxation in
the state of Indiana for all purposes except the financial institutions tax
imposed under IC 6-5.5.
Formerly: Acts 1971, P.L.41, SEC.1; Acts 1972, P.L.10, SEC.1.
As amended by P.L.21-1990, SEC.3; P.L.254-1997(ss), SEC.4;
P.L.79-2017, SEC.5.