The property and income of the authority, all bonds issued by the authority, the interest payable on and the income derived from such bonds, conveyances by or to the authority and leases, mortgages and deeds of trust or trust indentures by or to the authority shall be exempt from all taxation in the state. The authority shall be exempt from all taxes levied by any county, municipality or other political subdivision of the state, including, but without limitation, license and excise taxes imposed in respect of the privilege of engaging in any of the activities in which the authority may engage. Nothing in this section shall be construed to exempt any private person, firm or corporation from payment of any ad valorem, mortgage or deed taxes or recording fees notwithstanding the fact that the authority shall have acquired an interest in the property or instrument subject to such taxes or fees.
Structure Code of Alabama
Chapter 1A - Alabama Housing Finance Authority.
Article 1 - Housing Finance Authority.
Section 24-1A-1 - Legislative Findings and Declaration of Purpose of Article.
Section 24-1A-2 - Definitions.
Section 24-1A-3 - Incorporation of Authority Authorized; Application; Filing; Fees.
Section 24-1A-5 - Powers of Authority.
Section 24-1A-8 - Refunding Bonds.
Section 24-1A-11 - Applicability of Certain Provisions of Uniform Commercial Code.
Section 24-1A-12 - Exemption From Taxation.
Section 24-1A-13 - Liability of State.
Section 24-1A-14 - Exemption From Usury and Interest Laws.
Section 24-1A-16 - Earnings of Authority; Nonprofit; Excess Paid to State.
Section 24-1A-17 - Dissolution of Authority; Vesting Title to Property in State.
Section 24-1A-18 - Utilization of Services Provided by Department of Finance.
Section 24-1A-19 - Conflict of Interest; Rules Governing.