§ 1715. Exemption from taxation

Latest version.

(a) General exemption
Except as otherwise provided in subsections (b) and (c) of this section, the settlement lands received by the State Corporation shall not be subject to any form of Federal, State, or local taxation while held by the State Corporation.
(b) Income-producing activities
The exemption provided in subsection (a) of this section shall not apply to any income-producing activities occurring on the settlement lands.
(c) Payments in lieu of taxes
Nothing in this subchapter shall prevent the making of payments in lieu of taxes by the State Corporation for services provided in connection with the settlement lands.

(Pub. L. 95–395, title II, § 201, as added Pub. L. 96–601, § 5(a), Dec. 24, 1980, 94 Stat. 3498.)

Effective Date

Pub. L. 96–601, § 5(b), Dec. 24, 1980, 94 Stat. 3499, provided that: “The amendment made by subsection (a) [enacting this part] shall take effect on September 30, 1978.”

                    
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