§ 3566 — Tax exemption and tax contract by the state

New York § 3566

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 4: Roswell Park Cancer Institute Corporation Act
• Art. 10-C: New York Health Care Corporations

Text

§ 3566. Tax exemption and tax contract by the state. 1. It is hereby\ndetermined that the creation of the corporation and the fulfillment of\nits corporate purposes is in all respects for the benefit of the people\nof the state of New York and is a public purpose. Accordingly, the\ncorporation shall be regarded as performing an essential governmental\nfunction in the exercise of the powers conferred upon it by this title,\nand the corporation shall not be required to pay any fees, taxes,\nspecial ad valorem levies or assessments of any kind, except as provided\npursuant to the public health law, whether state or local, including but\nnot limited to fees, taxes, special ad valorem levies or assessments on\nreal property, franchise taxes, sales taxes, transfer taxes, mortgage\ntaxes or other taxes, upon or with respect to any property owned by it\nor under its jurisdiction, control or supervision, or upon the uses\nthereof, or upon or with respect to its activities or operations in\nfurtherance of the powers conferred upon it by this title, or upon or\nwith respect to any fares, tolls, rentals, rates, charges, fees,\nrevenues or other income received by the corporation. Provided however,\nthat the corporation shall continue to pay any fee, charge, assessment\nor payment in lieu of taxes which had been heretofore paid by the state\nin conjunction with the operation of Roswell Park Cancer Institute at\nthe effective date of transfer.\n 2. Any bonds issued pursuant to this title together with the income\ntherefrom shall at all times be free from taxation.\n 3. The state hereby covenants with the purchasers and with all\nsubsequent holders and transferees of bonds issued by the corporation\npursuant to this title, in consideration of the acceptance of and\npayment for the bonds, that the bonds of the corporation issued pursuant\nto this title and the income therefrom shall at all times be free from\ntaxation.\n 4. The corporation may pay, or may enter into agreements with any\nmunicipality to pay, a sum or sums annually or otherwise or to provide\nother considerations with respect to real property owned by the\ncorporation located within such municipality.\n