Statutes » New York » PBA Law » Article 8

N.Y. PBA Law § 2479

This is the official text of N.Y. PBA Law § 2479, part of New York’s PBA Law — part of the compiled statutory law of New York, published by the state as "PBA Law." Browse the sections below, each linked to its official government source.

Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.

Exemption from taxation of bonds and notes

Official statutory text

* § 2479. Exemption from taxation of bonds and notes. It is hereby\ndetermined that the creation of the authority is in all respects for the\nbenefit of the people of the state, for the improvement of their health\nand welfare, and for the promotion of the economy, and that said\npurposes are public purposes and the authority will be performing an\nessential governmental function in the exercise of the powers conferred\nupon it by this title, and the state covenants with the purchasers and\nall subsequent holders and transferees of bonds and notes issued by the\nauthority, in consideration of the acceptance of and payment for the\nbonds and notes, that the bonds and notes of the authority, issued\npursuant to this title and the income therefrom and all its fees,\ncharges, gifts, grants, revenues, receipts, and other moneys received or\nto be received, pledged to pay or secure the payment of such bonds or\nnotes shall at all times be free from taxation, except for estate or\ngift taxes and taxes on transfers.\n * NB (Disbanded March, 1980)\n

Status: in_force · Read it on the official government site

Need a lawyer in New York?

Find a New York lawyer
About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.