Chapter 43. to exempt from taxation all property held by the trustees of the Corcoran Gallery of Art, and for other purposes
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CHAP. 43.— An Act to exempt from taxation all property held by the trustees of the Corcoran Gallery of Art, and for other purposes.Jan. 26, 1887. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*,Corcoran Art Gallery.Property held as endowment fund for, in Washington to be released from taxes. That all property held as endowment fund by the trustees of the Corcoran Gallery of Art, in the city of Washington, District of Columbia, for the purpose of revenue to support said institution, shall be, and the same is hereby, declared exempt from all taxation anti assessments by the municipal authorities or by the United States so long as the same shall be so held; and all taxes and assessments made or imposed upon any of the property of said trustees subsequent to the tenth day of May, eighteen hundred and sixty-nine, whether real, *Proviso*.Real estate.personal, or mixed, be, and the same are hereby, released: *Provided*, That real estate heretofore purchased by said trustees in the management of the endowment fund shall be exempt from taxation only while so held, and not to exceed five years from the passage of this act.
Approved, January 26, 1887.