Sec. 31.25.260. Tax exemption.

176 words·~1 min read·/ak/title-31/chapter-25/31-25-260

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)The exercise of the powers granted by this chapter is, in all respects, for the benefit of the people of the state, for their well-being and prosperity, and for the improvement of their social and economic conditions, and the corporation is not required to pay a tax or assessment on any property owned by the corporation under the provisions of this chapter or on the income from it, including state taxes levied or authorized under AS 43.56.010

(a)and municipal taxes under AS 43.56.010

(b)as provided in AS 43.56.020 .

(b)All obligations issued under this chapter are declared to be issued by a body corporate and public of the state and for an essential public and governmental purpose, and the obligations, and the interest and income on and from the obligations, and all fees, charges, funds, revenue, income, and other money pledged or available to pay or secure the payment of the obligations, or interest on the obligations, are exempt from taxation except for transfer, inheritance, and estate taxes.