N.Y. Public Authorities Law § 2676-o: Exemption from taxes, assessments and certain fees

§ 2676-o. Exemption from taxes, assessments and certain fees. 1. The

authority shall not be required to pay any fees, taxes, special ad

valorem levies, or assessments, whether state or local, including but

not limited to fees, taxes, special ad valorem levies, or assessments on

real property, franchise taxes, sales taxes, or other excise taxes, upon

any property owned by it or under its jurisdiction, control or

supervision, or upon the uses thereof, or upon its activities in the

operation and maintenance of its facilities or any rentals, rates,

charges, fees, revenues, or other income received by the authority.

Notwithstanding the previous sentence, the authority shall be required

to pay water and pure water fees or charges as may be negotiated by any

public corporation. The authority shall at all times be exempt from any

filing, mortgage recording, or transfer fees or taxes in relation to

instruments filed, recorded, or transferred by it or on its behalf. The

construction, use, occupation, or possession of any property owned by

the authority or the county, including improvements thereon, by any

person or public corporation under a lease, lease and sublease, or any

other agreement shall not operate to abrogate or limit the foregoing

exemption, notwithstanding that the lessee, user, occupant, or person in

possession shall claim ownership for federal income tax purposes.

2. Any bonds issued pursuant to this title together with the income

therefrom as well as the property of the authority shall at all times be

exempt from taxes, except for transfer and estate taxes. The state

hereby covenants with the purchasers and with all subsequent holders and

transferees of bonds issued by the authority pursuant to this title, in

consideration of the acceptance of and payment for the bonds, that the

bonds of the authority issued pursuant to this title and the income

therefrom and all revenues, monies, and other property pledged to secure

the payment of such bonds shall at all times be free from taxation,

except for transfer and estate taxes.