Georgia § 20-3-355 - Tax exemptions of authority and its bonds and notes; exceptions.
Full text of Georgia Official Code of Georgia Annotated § 20-3-355 — Tax exemptions of authority and its bonds and notes; exceptions., with citation guidance and answers to common questions.
§ 20-3-355. Tax exemptions of authority and its bonds and notes; exceptions.
The authority is a duly created public corporation and political subdivision of the state and is performing essential governmental functions in the exercise of its corporate purposes. Accordingly, the authority shall not be required to pay and shall be exempt and free from the payment of any taxes and assessments to the state or to any county, municipality, or other political subdivision of the state, upon any of its property or upon its obligations or other evidences of indebtedness issued pursuant to this subpart and part, or upon any moneys, funds, revenues, or other income held or received by it; and the bonds and notes issued by the authority and the income from such bonds or notes shall also at all times be exempt from taxation within the state, except for death and gift taxes and taxes of transfers. Real property owned by the authority shall be exempt from all property taxation and special assessments of the state or political subdivisions of the state, but the authority may agree to pay, in lieu of such taxes, such amounts as it finds consistent with the cost to the state or political subdivision of supplying municipal services to it and maintaining its economic feasibility, which payments such bodies are authorized to accept. The exemption from taxation provided in this Code section shall not, however, extend to nor include any exemption from sales and use taxes on property purchased by or for the use of the authority. (Ga. L. 1969, p. 683, § 27; Code 1933, § 32-3741, enacted by Ga. L. 1980, p. 835, § 3.)
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 20-3-355
What does Official Code of Georgia Annotated § 20-3-355 cover?
Section 20-3-355 ("Tax exemptions of authority and its bonds and notes; exceptions.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. 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 Georgia § 20-3-355?
A common citation format is "Official Code of Georgia Annotated § 20-3-355" (Georgia). 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 Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 20-3-355 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia 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 Georgia.