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§24-12-31  Tax Exemption. –


Published: 2015

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TITLE 24

Highways

CHAPTER 24-12

Rhode Island Turnpike and Bridge Authority

SECTION 24-12-31



   § 24-12-31  Tax exemption. –

The exercise of the powers granted by this chapter will be in all respects for

the benefit of the people of the state, for the increase of their commerce and

prosperity and for the improvement of their health and living conditions, and

as the acquisition, construction, operation, and maintenance by the authority

of the projects as defined in this chapter as will constitute the performance

of essential governmental functions, the authority shall not be required to pay

any taxes or assessments upon the projects or upon any property acquired or

used by the authority under the provisions of this chapter or upon the income

from the projects, and the bonds issued under the provisions of this chapter,

their transfer and the income therefrom (including any profit made on the sale

thereof) shall at all times be free from taxation within the state.



History of Section.

(P.L. 1954, ch. 3390, § 12; G.L. 1956, § 24-12-31; P.L. 1997, ch.

326, § 154.)