§ 27-76-104. Exemption from taxation or assessment

AR Code § 27-76-104 (2018) (N/A)
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(a) A regional mobility authority is exempt from ad valorem property taxation of or assessments on each of the following:

(1) A transportation system;

(2) A transportation project; and

(3) Property the regional mobility authority acquires or uses under this chapter for a transportation project or transportation system.

(b) Income from the ownership or operation of the regional mobility authority shall be exempt from state income tax.