State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_131E > GS_131E-28

§ 131E‑28.  Taxexemptions.

(a)        Hospital authorities shall be exempt from the payment oftaxes or fees to the State or any of its subdivisions, or to any officer oremployee of the State or any of its subdivisions.

(b)        Hospital authority property used for public purposes shallbe exempt from all local and municipal taxes and for the purposes of this taxexemption, an authority shall be deemed to be a municipal corporation.

(c)        Bonds, notes, debentures, or other evidences of indebtednessof a hospital authority issued under the Local Government Revenue Bond Act,Chapter 159 of the General Statutes, Article 5, or issued pursuant to the bondand revenue anticipation provisions of Chapter 159 of the General Statutes,Article 9, or issued pursuant to G.S. 131E‑26(b) or contracted pursuantto G.S. 131E‑32 shall at all times be free from taxation by the State orany of its subdivisions, except for inheritance or gift taxes, income taxes onthe gain from the transfer of the instruments, and franchise taxes. The intereston the instruments is not subject to taxation as income. (1943, c. 780, s. 21; 1971, c. 799; 1973, c. 695, s.6; 1977, c. 268; 1983, c. 775, s. 1; 1995, c. 46, s. 13.)