Section 48:1614 - Tax and regulatory exemptionsA. The authority shall not be required to pay any taxes or assessments upon any property acquired or used by it under the provisions of this Chapter. The income therefrom shall be exempt from taxation of any type by the state of Louisiana and by any parish, municipality or political subdivision of the state. In the event of any lease of authority property, or any other arrangement which amounts to a leasehold interest to a private party, this exemption shall not apply to the value of such leasehold interest, nor shall it apply to the income of the lessee. Otherwise, however, and for purposes of taxation, when property of the authority is leased to private parties to be employed solely for purposes of the authority, the acts and activities of the lessee shall be considered as the acts and activities of the authority and the exemption hereunder shall apply to such acts and activities.B. Except as provided herein, the authority shall not be subject in any respect to the authority, control, or supervision of any regulatory body of the state including but not limited to the public service commission or any political subdivision thereof, but its books and records shall be subject to audit annually by the legislative auditor.La. Roads, Bridges and Ferries § 48:1614
Added by Acts 1976, No. 638, §1.Added by Acts 1976, No. 638, §1.