28A.24 - EXEMPTION FROM TAXATION.
28A.24 EXEMPTION FROM TAXATION.
Since an authority is performing essential governmental functions,
an authority is not required to pay any taxes or assessments of any
kind or nature upon any property required or used by it for its
purposes, or any rates, fees, rentals, receipts, or incomes at any
time received by it, and the bonds issued by an authority, their
transfer, and the income, including any profits made on the sale of
the bonds, is deductible in determining net income for the purposes
of the state individual and corporate income tax under divisions II
and III of chapter 422, and shall not be taxed by any political
subdivision of this state. Section History: Recent Form
91 Acts, ch 198, §23
CS91, § 330B.24
C93, § 28A.24