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§ 385. Exemption from taxation

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 73 P.S. Trade and Commerce

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 73 P.S. Trade and Commerce (Refs & Annos)
Chapter 12. Economic Development Financing Law (Refs & Annos)
73 P.S. § 385
§ 385. Exemption from taxation
The effectuation of the authorized purpose of authorities created under section 41 of this act and the financing authority created under section 6.12 of this act shall and will be in all respects for the benefit of the people of the Commonwealth of Pennsylvania, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions; and, since they will as public instrumentalities of the Commonwealth be performing essential governmental functions in effectuating such purposes, authorities and the financing authority shall not be required to pay any taxes or assessments upon any property acquired or used by them for such purposes, and the bonds issued by any authority or by the financing authority, their transfer and the income therefrom (including any profits made on the sale thereof) shall at all times be free from taxation within the Commonwealth of Pennsylvania.

Credits

1967, Aug. 23, P.L. 251, § 15. Amended 1975, Dec. 19, P.L. 576, No. 165, § 10, imd. effective; 1976, April 7, P.L. 81, No. 34, § 1; 1987, July 10, P.L. 273, No. 48, § 5, imd. effective; 1993, Dec. 17, P.L. 490, No. 74, § 10, imd. effective.

Footnotes

73 P.S. § 374.
73 P.S. § 376.1.
73 P.S. § 385, PA ST 73 P.S. § 385
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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