Legislation
SECTION 3566
Tax exemption and tax contract by the state
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 10-C, TITLE 4
§ 3566. Tax exemption and tax contract by the state. 1. It is hereby
determined that the creation of the corporation and the fulfillment of
its corporate purposes is in all respects for the benefit of the people
of the state of New York and is a public purpose. Accordingly, the
corporation shall be regarded as performing an essential governmental
function in the exercise of the powers conferred upon it by this title,
and the corporation shall not be required to pay any fees, taxes,
special ad valorem levies or assessments of any kind, except as provided
pursuant to the public health law, whether state or local, including but
not limited to fees, taxes, special ad valorem levies or assessments on
real property, franchise taxes, sales taxes, transfer taxes, mortgage
taxes or other taxes, upon or with respect to any property owned by it
or under its jurisdiction, control or supervision, or upon the uses
thereof, or upon or with respect to its activities or operations in
furtherance of the powers conferred upon it by this title, or upon or
with respect to any fares, tolls, rentals, rates, charges, fees,
revenues or other income received by the corporation. Provided however,
that the corporation shall continue to pay any fee, charge, assessment
or payment in lieu of taxes which had been heretofore paid by the state
in conjunction with the operation of Roswell Park Cancer Institute at
the effective date of transfer.
2. Any bonds issued pursuant to this title together with the income
therefrom shall at all times be free from taxation.
3. The state hereby covenants with the purchasers and with all
subsequent holders and transferees of bonds issued by the corporation
pursuant to this title, in consideration of the acceptance of and
payment for the bonds, that the bonds of the corporation issued pursuant
to this title and the income therefrom shall at all times be free from
taxation.
4. The corporation may pay, or may enter into agreements with any
municipality to pay, a sum or sums annually or otherwise or to provide
other considerations with respect to real property owned by the
corporation located within such municipality.
determined that the creation of the corporation and the fulfillment of
its corporate purposes is in all respects for the benefit of the people
of the state of New York and is a public purpose. Accordingly, the
corporation shall be regarded as performing an essential governmental
function in the exercise of the powers conferred upon it by this title,
and the corporation shall not be required to pay any fees, taxes,
special ad valorem levies or assessments of any kind, except as provided
pursuant to the public health law, whether state or local, including but
not limited to fees, taxes, special ad valorem levies or assessments on
real property, franchise taxes, sales taxes, transfer taxes, mortgage
taxes or other taxes, upon or with respect to any property owned by it
or under its jurisdiction, control or supervision, or upon the uses
thereof, or upon or with respect to its activities or operations in
furtherance of the powers conferred upon it by this title, or upon or
with respect to any fares, tolls, rentals, rates, charges, fees,
revenues or other income received by the corporation. Provided however,
that the corporation shall continue to pay any fee, charge, assessment
or payment in lieu of taxes which had been heretofore paid by the state
in conjunction with the operation of Roswell Park Cancer Institute at
the effective date of transfer.
2. Any bonds issued pursuant to this title together with the income
therefrom shall at all times be free from taxation.
3. The state hereby covenants with the purchasers and with all
subsequent holders and transferees of bonds issued by the corporation
pursuant to this title, in consideration of the acceptance of and
payment for the bonds, that the bonds of the corporation issued pursuant
to this title and the income therefrom shall at all times be free from
taxation.
4. The corporation may pay, or may enter into agreements with any
municipality to pay, a sum or sums annually or otherwise or to provide
other considerations with respect to real property owned by the
corporation located within such municipality.