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2017 Code of Alabama
Title 23 - HIGHWAYS, ROADS, BRIDGES AND FERRIES.
Chapter 7 - ALABAMA TRANSPORTATION INFRASTRUCTURE BANK ACT.
Section 23-7-10 - Essential governmental function of bank; taxation.
Universal Citation: AL Code § 23-7-10 (2017)
Section 23-7-10Essential governmental function of bank; taxation.
The bank is performing an essential governmental function in the exercise of the powers conferred upon it and is not required to pay taxes or assessments upon property or upon its operations or the income from them, or taxes or assessments upon property or loan obligations acquired or used by the bank or upon the income from them.
(Act 2015-50, §10.)
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