2010 Rhode Island Code
Title 16 Education
CHAPTER 16-57 Higher Education Assistance Authority
§ 16-57-11 Exemption from taxation.
§ 16-57-11 Exemption from taxation. – (a) The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of this state, the increase of their commerce, welfare, and prosperity and for the improvement of their living conditions and will constitute the performance of an essential governmental function and the authority shall not be required to pay any taxes or assessments upon or in respect of any transaction or of any property or money of the authority, levied by any municipality or political subdivision of the state.
(b) The authority shall not be required to pay state taxes of any kind, and the authority, its property, and money shall at all times be free from taxation of every kind by the state and by the municipalities and all political subdivisions of the state. The authority shall not be required to pay any transfer tax of any kind on account of instruments recorded by it or on its behalf.
History of Section.
(P.L. 1977, ch. 238, § 1.)
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