New York § 3869 Tax exemption

New York Statutes

§ 3869 — Tax exemption

New York § 3869

Law PBAPublic Authorities

Title 2Buffalo Fiscal Stability Authority

Art. 10-DMiscellaneous Authorities

This text of New York § 3869 (Tax exemption) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Public Authorities § 3869 (2026).

Text

§ 3869. Tax exemption.

1.It is hereby determined that the creation of\nthe authority and the carrying out of its corporate purposes are in all\nrespects for the benefit of the people of the state of New York and are\npublic purposes. Accordingly, the authority shall be regarded as\nperforming an essential governmental function in the exercise of the\npowers conferred upon it by this title. The authority shall not be\nrequired to pay any fees, taxes, special ad valorem levies or\nassessments of any kind, whether state or local, including, but not\nlimited to, fees, taxes, special ad valorem levies or assessments on\nreal property, franchise taxes, sales taxes or other taxes, upon income\nor with respect to any property owned by it or under its jurisdiction,\ncontrol or supervision, or up

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§ 3869. Tax exemption. 1. It is hereby determined that the creation of\nthe authority and the carrying out of its corporate purposes are in all\nrespects for the benefit of the people of the state of New York and are\npublic purposes. Accordingly, the authority shall be regarded as\nperforming an essential governmental function in the exercise of the\npowers conferred upon it by this title. The authority shall not be\nrequired to pay any fees, taxes, special ad valorem levies or\nassessments of any kind, whether state or local, including, but not\nlimited to, fees, taxes, special ad valorem levies or assessments on\nreal property, franchise taxes, sales taxes or other taxes, upon income\nor with respect to any property owned by it or under its jurisdiction,\ncontrol or supervision, or upon the uses thereof, or upon or with\nrespect to its activities or operations in furtherance of the powers\nconferred upon it by this title, or upon or with respect to any fares,\ntolls, rentals, rates, charges, fees, revenues or other income received\nby the authority.\n 2. Any bonds, notes or other obligations issued pursuant to this\ntitle, and the income therefrom shall, to the maximum extent\npracticable, be exempt from taxation.\n