State Affairs and Government
Rhode Island Housing and Mortgage Finance Corporation
§ 42-55-24 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 their well being and prosperity and
for the improvement of their social and economic conditions, and the
corporation shall not be required to pay any tax or assessment on any property
owned by the corporation under the provisions of this chapter or upon the
income from the property; nor shall the corporation be required to pay any
recording fee or transfer tax of any kind on account of instruments recorded by
it or on its behalf. Any bonds, notes, or other obligations issued by the
corporation under the provisions of this chapter, their transfer, and the
income from them (including any profits made on their sale), shall at all times
be free from taxation by the state or any political subdivision or other
instrumentality of the state, excepting inheritance, estate, and gift taxes.
History of Section.
(P.L. 1973, ch. 262, § 1.)