Tennessee Statutes
§ 13-23-127 — Tax exemption
Tennessee·Title 13
(a)The exercise of the powers granted by this part will be in all respects for the benefit of the people of the state, for their well being and prosperity and for the improvement of their social and economic conditions, and the agency is not required to pay any tax or assessment on any property owned by the agency under this part or upon the income therefrom; nor is the agency required to pay any transfer tax of any kind on account of instruments recorded by it or on its behalf.
(b)Any obligations issued by the agency under this part, their transfer, and the income therefrom, including any profit made on the sale thereof, shall at all times be free from taxation by the state or any local unit or political subdivision or other instrumentality of the state, excepting inheritance and gift t
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Legislative History
Acts 1973, ch. 241, § 17; 1975, ch. 152, § 1; T.C.A., § 13-2327.
Nearby Sections
15
§ 13-10-101
Chapter definitions§ 13-10-102
Functions of commissioner§ 13-10-104
Authority of commissioner to inspect property and records and conduct investigations and hearings§ 13-10-107
State financial assistance - Contingencies§ 13-10-109
Financial assistance - Approved sources§ 13-10-201
Responsibility for implementation§ 13-10-202
Financial and legal independence§ 13-10-203
Enforcement authority§ 13-10-204
Confidentiality of information§ 13-10-205
Audits and reporting§ 13-10-206
Authority to adopt policies and regulations§ 13-11-101
Short title§ 13-11-102
Purpose§ 13-11-103
Chapter definitions