N.Y. Public Authorities Law § 3414: Exemption from taxes and certain fees

§ 3414. Exemption from taxes and certain fees. 1. The corporation

shall not be required to pay any fees, taxes or assessments of any kind,

except as provided by the public health law, whether state or local,

including but not limited to fees or taxes on real property, franchise

taxes, sales taxes or other excise taxes, upon any property owned by it

or under its jurisdiction, control or supervision and used for a public

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

operation and maintenance of its facilities used for a public purpose,

or any revenues or other income received by the corporation from public

purpose activities. The foregoing shall not, however, limit the county

from receiving rentals, fees or other consideration pursuant to

agreements negotiated with the corporation. The corporation 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, lease or possession of

any property owned by the corporation or the county, including

improvements thereon, by any person or public corporation under

agreement with the corporation or the county 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 corporation 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 corporation pursuant to this title,

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

the bonds of the corporation 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.