116-209.13. Tax exemption.
The exercise of the powers granted by this Article in all respects will be 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 Authority shall not be required to pay any taxes on any property owned by the Authority under the provisions of this Article or upon the income therefrom, and the bonds issued under the provisions of this Article shall at all times be free from taxation by the State or any local unit or political subdivision or other instrumentality of the State, excepting inheritance or gift taxes, income taxes on the gain from the transfer of the bonds, and franchise taxes. The interest on the bonds is not subject to taxation as income. (1967, c. 1177; 1995, c. 46, s. 9.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 116 - Higher Education
Article 23 - State Education Assistance.
§ 116-201 - Purpose and definitions.
§ 116-204 - Powers of Authority.
§ 116-204.1 - Council on residency determination policies.
§ 116-205 - Title to property; use of State lands; offices.
§ 116-206 - Acquisition of obligations.
§ 116-207 - Terms of acquisitions.
§ 116-208 - Construction of Article.
§ 116-209.1 - Provisions in conflict.
§ 116-209.3 - Additional powers.
§ 116-209.4 - Authority to issue bonds.
§ 116-209.5 - Bond resolution.
§ 116-209.9 - Negotiability of bonds.
§ 116-209.10 - Bonds eligible for investment.
§ 116-209.11 - Additional pledge.
§ 116-209.12 - Credit of State not pledged.
§ 116-209.14 - Annual reports.
§ 116-209.15 - Merger of trust fund.
§ 116-209.16 - Other powers; criteria.
§ 116-209.16A - Information on career and major options.
§ 116-209.17 - Establishment of student assistance program.
§ 116-209.18 - Powers of Authority to administer student assistance program.
§ 116-209.19 - Grants to students.
§ 116-209.20 - Public purpose.
§ 116-209.22 - Constitutional construction.
§ 116-209.23 - Inconsistent laws inapplicable.
§ 116-209.24 - Parental loans.
§ 116-209.25 - Parental Savings Trust Fund.
§ 116-209.27 - Administration of scholarships previously awarded by Teaching Fellows Program.
§ 116-209.28 - Administration of scholarships previously awarded by the Principal Fellows Program.
§ 116-209.45 - Forgivable Education Loans for Service Program and Fund.
§ 116-209.50 - Recodified as G.S§ 127A-190, effective November 18, 2021.
§ 116-209.51 - Recodified as G.S§ 127A-191, effective November 18, 2021.
§ 116-209.52 - Recodified as G.S§ 127A-192, effective November 18, 2021.
§ 116-209.53 - Recodified as G.S§ 127A-193, effective November 18, 2021.
§ 116-209.54 - Recodified as G.S§ 127A-194, effective November 18, 2021.
§ 116-209.55 - Recodified as G.S§ 127A-195, effective November 18, 2021.
§ 116-209.61 - North Carolina Teaching Fellows Commission established; membership.
§ 116-209.62 - North Carolina Teaching Fellows Program established; administration.
§ 116-209.63 - Terms of forgivable loans; receipt and disbursement of funds.
§ 116-209.81 - Eligibility requirements for a scholarship.
§ 116-209.82 - Semester limitation on eligibility for scholarship.
§ 116-209.83 - Scholarship amounts; adjustment of scholarship amounts.
§ 116-209.84 - Scholarship administration; reporting requirements.
§ 116-209.85 - Scholarship Reserve Fund for Public Colleges and Universities.
§ 116-209.90 - Tuition grants for graduates to attend a constituent institution.