N.Y. Public Authorities Law Section 1982
Tax contract by the state


The state of New York covenants with the purchasers and with all subsequent holders and transferees of bonds and notes issued by the authority pursuant to this title, in consideration of the acceptance of and payments for the bonds and notes, that the bonds and notes of the authority issued pursuant to this title and the income therefrom, and all moneys, funds and revenues pledged to pay or secure the payment of such bonds and notes, shall at all times be free from taxation except for transfer and estate taxes.

Source: Section 1982 — Tax contract by the state, https://www.­nysenate.­gov/legislation/laws/PBA/1982 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 1982’s source at nysenate​.gov

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