39:2A-31 Exercise of powers by commission for people; tax exemption.
130 words·~1 min read·
/nj/title-39/chapter-2a/39-2a-31A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
32. The exercise of the powers granted by this act will be in all respects for the benefit of the people of the State, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions, and as the operation and maintenance of facilities and assets by the commission will constitute the performance of essential governmental functions, the commission shall not be required to pay any taxes or assessments upon any facility and assets or any property acquired or used by the commission under the provisions of this act or upon the income therefrom, and any facility and assets and any property acquired or used by the commission under the provisions of this act and the income therefrom shall be exempt from taxation.
L.2003,c.13,s.32.