South Carolina § 48-5-140 - Authority exempt from taxes and assessments; bonds issued by authority free from taxation and assessments of every kind.
Full text of South Carolina South Carolina Code of Laws § 48-5-140 — Authority exempt from taxes and assessments; bonds issued by authority free from taxation and assessments of every kind., with citation guidance and answers to common questions.
§ 48-5-140. Authority exempt from taxes and assessments; bonds issued by authority free from taxation and assessments of every kind.
The authority in performing an essential governmental function in the exercise of the powers conferred upon it is not required to pay taxes or assessments upon property or upon its operations or the income from them, or taxes or assessments upon property or loan obligation acquired or used by the authority or upon the income from them. Bonds issued by the authority, the transfer of bonds, and the income from them, are free from taxation and assessment of every kind by this State, and by the project sponsors and other political subdivisions of this State.
HISTORY: 1992 Act No. 513, SECTION 3.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 48-5-140
What does South Carolina Code of Laws § 48-5-140 cover?
Section 48-5-140 ("Authority exempt from taxes and assessments; bonds issued by authority free from taxation and assessments of every kind.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. 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 South Carolina § 48-5-140?
A common citation format is "South Carolina Code of Laws § 48-5-140" (South Carolina). 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 South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 48-5-140 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina 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 South Carolina.