N.Y. Public Authorities Law § 2624: Exemption from taxation

§ 2624. Exemption from taxation. 1. It is hereby determined that the

creation of the authority and the conduct of its corporate purposes is

in all respects for the benefit of the people of this state and the

United States, and is a public purpose, and the authority shall be

regarded as performing a governmental function in the exercise of the

powers conferred upon it by this title.

2. The authority, its operations, property and moneys shall be free

from taxation of every kind and nature by a public corporation, the

state and any subdivision thereof.