(SB 34)
Agriculture and Business Development Authority bonds,
tax exemption repealed.
Section
1.
That
§
1-16E-22
be amended to read as follows:
1-16E-22.
The exercise of the powers granted by this chapter
will
shall
be in all respects for the
benefit of the people of the state
, and the
. The
authority is not required to pay any tax or assessment
on any property owned by the authority under the provisions of this chapter or upon the income
therefrom; nor is the authority required to pay any transfer tax of any kind on account of
instruments recorded by it or on its behalf.