South Carolina Statutes
§ 57-5-1470 — Exemption of bonds from taxation.
All turnpike bonds issued under this article, and the interest thereon, are exempt from all state, county, municipal, school district, and other taxes or assessment, direct or indirect, general or special, imposed by the State of South Carolina, whether imposed for the purpose of general revenue or otherwise, except inheritance, estate, or transfer taxes. Each turnpike facility constitutes a portion of the state highway system and as such is not subject to ad valorem or other forms of taxation by the State or any of its political subdivisions.
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South Carolina § 57-5-1470 (Exemption of bonds from taxation.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1980 Act No. 449; 1985 Act No. 201, Part II, SECTION 84D.
Nearby Sections
15
§ 57-5-1010
Definitions.§ 57-5-1050
Elimination of intersections.§ 57-5-1080
Permit required to open private driveway or side-road entrance or exit to primary highway.§ 57-5-1130
Penalties.