Tennessee § 7-36-121 - Tax exemption.
Full text of Tennessee Tennessee Code Annotated § 7-36-121 — Tax exemption., with citation guidance and answers to common questions.
§ 7-36-121. Tax exemption.
So long as the authority owns any of the systems, the property and revenue of such system shall be exempt from all state, county, and municipal taxation. Any bonds issued by the authority pursuant to this chapter, and the income therefrom, shall be exempt from all state, county, and municipal taxation, except inheritance, transfer and estate taxes, and except as otherwise provided by the laws of this state. Acts 2016, ch. 995, § 1. Code Commission Notes. Acts 2016, ch. 995, § 1 enacted a new chapter 41, §§ 7-41-101 — 7-41-132 , but the chapter has been redesignated as chapter 36, §§ 7-36-101 — 7-36-132 by authority of the Code Commission. Effective Dates. Acts 2016, ch. 995, § 3. April 27, 2016.
Frequently Asked Questions About Tennessee § 7-36-121
What does Tennessee Code Annotated § 7-36-121 cover?
Section 7-36-121 ("Tax exemption.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. 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 Tennessee § 7-36-121?
A common citation format is "Tennessee Code Annotated § 7-36-121" (Tennessee). 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 Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 7-36-121 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee 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 Tennessee.