The authority 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 authority or upon the income from them.
S.C. Code Ann. § 11-50-110
Exempt from taxes and assessments
Known as the South Carolina Rural Infrastructure Act
The act spans §§ 11–11 (20 sections).
2010 Act No. 171, SECTION 1, eff May 26, 2010.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.