Title 11 Cities, Counties, and Local Taxing Units Chapter 17 Utah Industrial Facilities and Development Act Section 10 Tax exemption for property and bonds -- Exception.
11-17-10.Tax exemption for property and bonds -- Exception.
All property acquired or held by the county or municipality under this chapter is declared
to be public property used for essential public and governmental purposes; and all such property
and bonds issued under this chapter and the income from them are exempt from all taxes imposed
by the state, any county, any municipality, or any other political subdivision of the state, except
for the corporate franchise tax. This exemption shall not extend to the interests of any private
person, firm, association, partnership, corporation, or other private business entity in such
property or in any other property such business entity may place upon or use in connection with
any project, all of which shall be subject to the provisions of Section 59-4-101 and all other
applicable laws nor to any income of such private business entity, which, except as provided in
this section for such bonds and the income from them, shall be subject to all applicable laws,
regarding the taxing of such income.
Amended by Chapter 2, 1987 General Session
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