§ 2412 — Property and income

§ 2412. Property and income. 1. The property of the agency and its\nincome and operations shall be exempt from taxation or assessments of\nevery kind and nature, other than assessments for local improvements and\nthe tax imposed by article eleven of the tax law; nor shall the agency\nbe required to pay any recording fee or transfer tax of any kind on\naccount of instruments recorded by it or on its behalf.\n 2. Notwithstanding the provisions of subdivision one of this section,\nall mortgages recorded prior to the effective date of this subdivision\nas to which an assignment to the agency has been recorded shall be\nrecordable, enforceable, assignable and valid for all purposes as if the\nmortgage recording tax had been paid regardless of whether a mortgage\nrecording tax was paid thereon.\n