§ 45-59-23 — § 45-59-23. Exemption from taxation.

§ 45-59-23. Exemption from taxation.

(a) Any notes or other obligations issued by any district management authority, their transfer and the income from the notes or obligations (including any profits made on the sale of the notes or obligations), will at all times be free from taxation by the state or any political subdivision or other instrumentality of the state.

(b) The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of this state and of the municipalities within which the district management authorities will undertake their activities, the increase of their commerce, welfare and prosperity and for the improvement of their health and living conditions and will constitute the performance of essential governmental functions and the district management authorities will not be required to pay any real or personal property taxes or assessments upon or in respect of any property owned by them levied by any municipality or other political subdivision of the state.

Legislative History

P.L. 2001, ch. 205, § 1; P.L. 2001, ch. 373, § 1.