2017 New Jersey Revised Statutes
TITLE 32 - INTERSTATE AND PORT AUTHORITIES AND COMMISSIONS
Section 32:8-9 - Property and securities of commission tax-exempt
32:8-9. Property and securities of commission tax-exempt
ARTICLE VIII.
The effectuation of its authorized purposes by the commission is and will be in all respects for the benefit of the people of the state of New Jersey and the commonwealth of Pennsylvania, and for the increase of their commerce and prosperity, and since the commission will be performing essential governmental functions in effectuating said purposes, the commission shall not be required to pay any taxes or assessments upon any property acquired or used by it for purposes authorized by this agreement; and the bonds or obligations issued by the commission, their transfer and the income therefrom, including any profits made on the sale thereof, shall, at all times, be free from taxation within the state of New Jersey and the commonwealth of Pennsylvania.
