Rhode Island § 16-62-12 § 16-62-12. Exemption from taxation.

Rhode Island Statutes

§ 16-62-12 — § 16-62-12. Exemption from taxation.

Rhode Island § 16-62-12

Title 16Education

Ch. 16-62The Rhode Island Student Loan Authority

This text of Rhode Island § 16-62-12 (§ 16-62-12. Exemption from taxation.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 16-62-12 (2026).

Text

§ 16-62-12. Exemption from taxation.
(a) The exercise of the powers granted by this chapter will be in all respects for the
            benefit of the people of this state, the increase of their commerce, welfare, and
            prosperity, and for the improvement of their living conditions, and will constitute
            the performance of an essential government function; and the authority shall not be
            required to pay any taxes or assessments upon or in respect of any transaction or
            of any property or money of the authority levied by any municipality or political
            subdivision of the state.
         
(b) The authority shall not be require

Free access — add to your briefcase to read the full text and ask questions with AI

§ 16-62-12. Exemption from taxation.

(a) The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of this state, the increase of their commerce, welfare, and prosperity, and for the improvement of their living conditions, and will constitute the performance of an essential government function; and the authority shall not be required to pay any taxes or assessments upon or in respect of any transaction or of any property or money of the authority levied by any municipality or political subdivision of the state.

(b) The authority shall not be required to pay state taxes of any kind, and the authority, its property, and money, and, except for estate, inheritance, and gift taxes, any bonds or notes issued under the provisions of this chapter and the income, including gain from sale or exchange from it shall at all times be free from taxation of every kind by the state and by the municipalities and all political subdivisions of the state. The authority shall not be required to pay any transfer tax of any kind on account of instruments recorded by it or on its behalf.