§ 42-133-10. Exemption from taxation.
The exercise of the powers granted by this chapter shall be in all respects for the benefit of the people of the state, and the corporation, and any trust established by the corporation, shall not be required to pay taxes of the state or any political subdivision of the state of any kind, including any tax or assessment on any property owned by the corporation, or any trust established by the corporation, under the provisions of this chapter or upon the income from any property. Any bonds 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. 2002, ch. 65, art. 8, § 1.
Structure Rhode Island General Laws
Title 42 - State Affairs and Government
Chapter 42-133 - Tobacco Settlement Financing Corporation Act
Section 42-133-1. - Short title.
Section 42-133-3. - Definitions.
Section 42-133-4. - Creation — Powers — Construction of chapter — Termination.
Section 42-133-5. - General powers.
Section 42-133-6. - Board and officers.
Section 42-133-7. - Sale of state’s tobacco receipts.
Section 42-133-9. - Trust funds.
Section 42-133-10. - Exemption from taxation.
Section 42-133-11. - Bankruptcy.
Section 42-133-11.1. - Stay of execution upon appeal.
Section 42-133-12. - Limited power to incur debt.
Section 42-133-13. - Bonds as legal investments.
Section 42-133-14. - Agreement by the state.
Section 42-133-15. - Credit of the state.
Section 42-133-16. - Annual report and audit.
Section 42-133-17. - Attorney general.
Section 42-133-18. - Chapter controlling over inconsistent provisions.