§ 3615 — Tax exemption and tax contract by the state

New York § 3615

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 5: Clifton-fine Health Care Corporation
• Art. 10-C: New York Health Care Corporations

Text

§ 3615. Tax exemption and tax contract by the state. 1. It is hereby\ndetermined that the creation of the corporation and the carrying out 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 or other taxes, upon or with\nrespect to any property owned by it or under its jurisdiction, control\nor supervision, or upon the uses thereof, or upon or with respect to its\nactivities or operations in furtherance of the powers conferred upon it\nby the title, or upon or with respect to any fares, tolls, rentals,\nrates, charges, fees, revenues or other income received by the\ncorporation. Provided, however, that any real property owned or acquired\nby the corporation outside of the towns shall be exempt from real\nproperty taxes, ad valorem levies or special assessments only pursuant\nto and to the extent provided by an agreement with the governing body of\nthe municipality in which such real property is located. Provided,\nfurther, subsidiaries of the corporation are not included within the\nforegoing exemption.\n 2. Any bonds issued pursuant to this title together with the income\ntherefrom shall at all times be exempt 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 and all revenues, monies, and\nother property pledged to pay or to secure the payment of such bonds\nshall at all times be free from taxation.\n 4. The corporation may pay, or may enter into agreements with the\ntowns or any municipality to pay, a sum or sums annually or otherwise or\nto provide other considerations with respect to real property owned by\nthe corporation located within the towns or such municipality.\n