28A.24 Exemption from taxation.
Since an authority is performing essential governmental functions, an authority is not required to pay any taxes or assessments of any kind or nature upon any property required or used by it for its purposes, or any rates, fees, rentals, receipts, or incomes at any time received by it, and the bonds issued by an authority, their transfer, and the income, including any profits made on the sale of the bonds, is deductible in determining net income for the purposes of the state individual and corporate income tax under chapter 422, subchapters II and III, and shall not be taxed by any political subdivision of this state.
91 Acts, ch 198, §23
CS91, §330B.24
C93, §28A.24
2013 Acts, ch 30, §8; 2020 Acts, ch 1062, §94
Referred to in §422.7(2)(h)
Structure Iowa Code
Title I - STATE SOVEREIGNTY AND MANAGEMENT
Chapter 28A - QUAD CITIES INTERSTATE METROPOLITAN AUTHORITY COMPACT
Section 28A.1 - Quad cities interstate metropolitan authority compact.
Section 28A.5 - Petition and public hearing.
Section 28A.7 - Board of commissioners — appointment.
Section 28A.8 - Commissioners — terms of office.
Section 28A.9 - Organization — officers — meetings — compensation.
Section 28A.10 - Rights and powers.
Section 28A.11 - Regulations — ordinances.
Section 28A.12 - Eminent domain procedures.
Section 28A.13 - Authority procedures.
Section 28A.14 - Official records and officer bonds.
Section 28A.15 - Change of name.
Section 28A.16 - Budget and appropriation.
Section 28A.17 - Local sales and services tax.
Section 28A.18 - Bonds and notes payable from revenue.
Section 28A.19 - Existing jurisdictions.
Section 28A.20 - Cooperation with other governments.
Section 28A.21 - Transfer of existing facilities.
Section 28A.22 - Funds of the authority.
Section 28A.23 - Award of contracts.
Section 28A.24 - Exemption from taxation.