Revenue bonds and mortgage bonds of an authority, together with interest thereon, shall be exempt from ad valorem and income taxation by the Commonwealth and all of its political subdivisions. The properties, moneys and other assets of an authority, and all revenues or other income of an authority, shall be exempt from all taxation, licenses, fees, or charges of any kind imposed by the state or by any county, municipality, political subdivision, taxing district, or other public agency or body of the state.
History: Created 1970 Ky. Acts ch. 243, sec. 15.

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Terms Used In Kentucky Statutes 96A.140

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • authority: means a transit authority created pursuant to this chapter. See Kentucky Statutes 96A.010
  • County: means any county in the Commonwealth wherein there is located an incorporated city and for the purpose of this chapter shall also mean a county which has adopted an urban-county government or consolidated local government. See Kentucky Statutes 96A.010
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • State: means the Commonwealth. See Kentucky Statutes 96A.010
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