Arkansas § 14-188-117 - Exemption from taxes or assessments.
Full text of Arkansas Arkansas Code of 1987 Annotated § 14-188-117 — Exemption from taxes or assessments., with citation guidance and answers to common questions.
§ 14-188-117. Exemption from taxes or assessments.
The property of a rural development authority is declared to be public property used for essential and exclusively public and governmental purposes and not for profit. The property and income from notes and bonds issued by an authority shall be exempt from all taxes, including state income taxes, and special assessments of the state or any state public body. In lieu of taxes or special assessments, an authority may agree to make payments to a state public body for improvements, services, and facilities furnished by the state public body for the benefit of a development project. In no event shall these payments exceed the estimated cost to the state public body of the improvements, services, or facilities to be furnished.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 14-188-117
What does Arkansas Code of 1987 Annotated § 14-188-117 cover?
Section 14-188-117 ("Exemption from taxes or assessments.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 14-188-117?
A common citation format is "Arkansas Code of 1987 Annotated § 14-188-117" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 14-188-117 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.