The bank is performing an essential governmental function in the exercise of the powers conferred upon it and is not required to pay taxes or assessments upon property or upon its operations or the income from them, or taxes or assessments upon property or loan obligations acquired or used by the bank or upon the income from them.
S.C. Code Ann. § 11-43-200
Exemption from taxes or assessments
Known as the South Carolina Transportation Infrastructure Bank Act
The act spans §§ 11-43-110 to 11-43-630 (46 sections).
1997 Act No. 148, SECTION 2.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.