RS 33:9030: Property exempt from taxes

The property of the corporation acquired or held for the purposes of this Chapter is to be used for an essential public and governmental purpose and such property shall be exempt from all taxes of the state or any of its local governmental or political subdivisions; provided, however, that such exemption shall terminate when the corporation sells, or otherwise disposes of the property in the economic development area to any purchaser or transferee not a public body.