{"data":{"id":"us-mi/mich.-comp.-laws-324.21538","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 324.21538","heading":"Property and income of authority; bonds or notes as exempt from tax.","body":"Sec. 21538.\n\nProperty of the authority is public property devoted to an essential public and governmental function and purpose. Income of the authority is for a public purpose.\n\nThe property of the authority and its income and operation are exempt from all taxes and special assessments of the state or a political subdivision of the state.\n\nBonds or notes issued by the authority, and the interest on and income from those bonds and notes, are exempt from all taxation of the state or a political subdivision of the state.","path":["MI Code","Chapter 324","Act Act-451-of-1994"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-324-21538","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"3553484dabacc5186c55b29a7967824356cf2cdc3bd10713e864f0915765b8a8","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-324.21537","next":"us-mi/mich.-comp.-laws-324.21539"},"notice":"GroundRules: Original legal text. Not legal advice."}