N.Y. Pub. Auth. Law § 2545

§ 2545. Exemption from taxation. 1. It is hereby determined that the\ncreation of the corporation and the carrying out of its corporate\npurpose is in all respects a public and governmental purpose for the\nbenefit of the people of the state and for the improvement of their\nhealth, safety, welfare, comfort and security, and that said purposes\nare public purposes and that the corporation will be performing an\nessential governmental function in the exercise of the powers conferred\nupon it by this title.\n 2. The property of the corporation and its income and operations shall\nbe exempt from taxation.\n 3. The notes and bonds of the corporation issued pursuant to this\ntitle and the income therefrom and all its fees, charges, gifts, grants,\nrevenues, receipts, and other monies received or to be received, pledged\nto pay or secure the payment of such notes or bonds shall at all times\nbe free from taxation, except for estate and gift taxes and taxes on\ntransfers.\n