Public Authorities Law § 2479 · Title 19. New York State Sports Authority
Exemption from taxation of bonds and notes
Text — Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
* § 2479. Exemption from taxation of bonds and notes. It is hereby determined that the creation of the authority is in all respects for the benefit of the people of the state, for the improvement of their health and welfare, and for the promotion of the economy, and that said purposes are public purposes and the authority will be performing an essential governmental function in the exercise of the powers conferred upon it by this title, and the state covenants with the purchasers and all subsequent holders and transferees of bonds and notes issued by the authority, in consideration of the acceptance of and payment for the bonds and notes, that the bonds and notes of the authority, issued pursuant to this title and the income therefrom and all its fees, charges, gifts, grants, revenues, receipts, and other moneys received or to be received, pledged to pay or secure the payment of such bonds or notes shall at all times be free from taxation, except for estate or gift taxes and taxes on transfers.
* NB (Disbanded March, 1980)
Source of truth
- Edition
- Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
- Official file
- https://legislation.nysenate.gov/pdf/laws/PBA2479
- Text hash
- sha256 4420274fef0d7b6c03888ad2f7df8bbdbc908810edd4985880daf8d216913fb4
- Composed by
- gen_ny_statutes.py 2026-11-10: the Senate's Open Legislation law tree (GET /api/3/laws/<ID>?full=true) read in document order; the Senate's PDF of the whole law (GET /pdf/laws/<ID>?full=true), read with PDFium, prints the same words in the same order
- The Senate's note "(Disbanded March, 1980)" is printed with the text.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.