GroundRules
Ark. Code Ann. § 14-188-117: Exemption from taxes or assessments
Where this section sits in the code
- AR Code
- Title 14
- Chapter 188
(a) (1) The property of a rural development authority is declared to be public property used for essential and exclusively public and governmental purposes and not for profit. (2) The property and income from notes and bonds issued by an authority shall be exempt from all taxes, including state income taxes, and special assessments of the state or any state public body. (b) (1) In lieu of taxes or special assessments, an authority may agree to make payments to a state public body for improvements, services, and facilities furnished by the state public body for the benefit of a development project. (2) In no event shall these payments exceed the estimated cost to the state public body of the improvements, services, or facilities to be furnished. Acts 1963, No. 172, § 22; A.S.A. 1947, § 20-1422.
(a) (1) The property of a rural development authority is declared to be public property used for essential and exclusively public and governmental purposes and not for profit. (2) The property and income from notes and bonds issued by an authority shall be exempt from all taxes, including state income taxes, and special assessments of the state or any state public body.
(1) The property of a rural development authority is declared to be public property used for essential and exclusively public and governmental purposes and not for profit.
(2) The property and income from notes and bonds issued by an authority shall be exempt from all taxes, including state income taxes, and special assessments of the state or any state public body.
(b) (1) In lieu of taxes or special assessments, an authority may agree to make payments to a state public body for improvements, services, and facilities furnished by the state public body for the benefit of a development project. (2) In no event shall these payments exceed the estimated cost to the state public body of the improvements, services, or facilities to be furnished.
(1) In lieu of taxes or special assessments, an authority may agree to make payments to a state public body for improvements, services, and facilities furnished by the state public body for the benefit of a development project.
(2) In no event shall these payments exceed the estimated cost to the state public body of the improvements, services, or facilities to be furnished.
Collected 2026-09-17T21:35:43Z. Source file · JSON
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Arkansas electronic product files were republished by Public.Resource.Org under a public-domain mark. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows. Source