South Carolina § 59-109-150 - Exemption from taxation.
Full text of South Carolina South Carolina Code of Laws § 59-109-150 — Exemption from taxation., with citation guidance and answers to common questions.
§ 59-109-150. Exemption from taxation.
The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of this State, for the increase of their commerce, welfare, and prosperity, and for the improvement of their health and living conditions, and as the operation and maintenance of a project by the authority or its agent or a participating institution for higher learning will constitute the performance of an essential public function, neither the authority nor its agent shall be required to pay any taxes or assessments upon or in respect of a project or any property acquired or owned by the authority under the provisions of this chapter or upon the income therefrom, and any bonds issued under the provisions of this chapter, their transfer, and the income therefrom, including any profit made on the sale thereof, shall at all times be free from taxation of every kind by the State and by the municipalities and other political subdivisions in the State."
HISTORY: 1962 Code SECTION 22-41.14; 1969 (56) 444; 1993 Act No. 167, SECTION 11.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 59-109-150
What does South Carolina Code of Laws § 59-109-150 cover?
Section 59-109-150 ("Exemption from taxation.") 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 § 59-109-150?
A common citation format is "South Carolina Code of Laws § 59-109-150" (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 § 59-109-150 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.