N.Y. Public Authorities Law Section 1470-M
Tax exemptions


1.

It is hereby determined that the creation of the authority and the carrying out of its corporate purposes is in all respects for the benefit of the people of the city of Rome and its environs, and is a public purpose, and the authority shall be regarded as performing a governmental function in the exercise of the powers conferred upon it by this title and shall be required to pay no taxes or assessments upon any of the property acquired by it or under its jurisdiction, control or supervision or upon its activities.

2.

Any bonds or notes issued pursuant to this title, together with the income therefrom, as well as the property of the authority, shall be exempt from taxation, except for transfer and estate taxes. * NB City of Rome Parking Authority ceased to exist 12/31/2000 per § 1470-b, and thereafter until all liabilities have been met/discharged, and all bonds paid/discharged

Source: Section 1470-M — Tax exemptions, https://www.­nysenate.­gov/legislation/laws/PBA/1470-M (updated Sep. 22, 2014; accessed Jun. 15, 2024).

Accessed:
Jun. 15, 2024

Last modified:
Sep. 22, 2014

§ 1470-M’s source at nysenate​.gov

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