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.)