Section 6901.316 - State tax exemption(a) Property of funds.--The property of each of the funds and their income and operation shall be exempt from all taxation by the Commonwealth and its political subdivisions.(b) Contributions.--Contributions made pursuant to a Tuition Account Program Contract; any increase in the value of those contributions, the retention, or transfer during life or as a result of death of any legal interest in a Tuition Account Program Contract; and payment of qualified higher education expenses of beneficiaries made pursuant to Tuition Account Program Contracts shall be exempt from all taxation by the Commonwealth and its political subdivisions.1992, April 3, P.L. 28, No. 11, § 316, imd. effective. Amended 2000, June 22, P.L. 418, No. 58, § 5, effective in 60 days.