159C-14. Tax exemption.
The authority shall not be required to pay any taxes on any project or on any other property owned by the authority under the provisions of this Chapter or upon the income therefrom.
The interest on bonds issued by the authority shall be exempt from all income taxes within the State.
All projects and all transactions therefor shall be subject to taxation to the extent such projects and transactions would be subject to taxation if no public body were involved therewith. (1975, c. 800, s. 1; 1977, c. 719, s. 5.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 159C - Industrial and Pollution Control Facilities Financing Act
§ 159C-2 - Legislative findings and purposes.
§ 159C-4 - Creation of authorities.
§ 159C-7 - Approval of industrial projects and pollution control projects by Secretary of Commerce.
§ 159C-10 - Location of projects.
§ 159C-11 - Financing agreements.
§ 159C-12 - Security documents.
§ 159C-15 - Construction contracts.
§ 159C-16 - Conflict of interest.
§ 159C-17 - Credit of State not pledged.
§ 159C-18 - Bonds eligible for investment.
§ 159C-19 - Revenue refunding bonds.
§ 159C-20 - No power of eminent domain.
§ 159C-21 - Dissolution of authorities.
§ 159C-22 - Annual reports; application of Article 3, Subchapter III of Chapter 159.
§ 159C-23 - Officers not liable.
§ 159C-24 - Additional method.
§ 159C-25 - Liberal construction.