N.Y. PBA Law § 536
This is the official text of N.Y. PBA Law § 536, 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.
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Tax contract by the state
Official statutory text
§ 536 Tax contract by the state. (1) The state of New York covenants\nwith the purchasers and with all subsequent holders and transferees of\nbonds and notes issued by the authority pursuant to this title, in\nconsideration of the making of any payment for the bonds or notes, that\nthe bonds and notes of the authority issued pursuant to this title and\nthe income therefrom, and all moneys, funds, tolls and other revenue\npledged to pay or secure the payment of such bonds and notes, shall at\nall times be free from taxation except for estate taxes and taxes on\ntransfers by or in contemplation of death.\n (2) Nothing herein shall be construed to repeal or supersede any tax\nexemptions heretofore or hereafter granted by general or other laws.\n
Status: in_force · Read it on the official government site
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