§ 3969. Tax exemption. 1. It is hereby determined that the creation of
the authority and the carrying out of its corporate purposes are in all
respects for the benefit of the people of the state of New York and are
public purposes. Accordingly, the authority shall be regarded as
performing an essential governmental function in the exercise of the
powers conferred upon it by this title. The authority shall not be
required to pay any fees, taxes, special ad valorem levies or
assessments of any kind, whether state or local, including, but not
limited to, fees, taxes, special ad valorem levies or assessments on
real property, franchise taxes, sales taxes or other taxes, upon income
or with respect to any property owned by it or under its jurisdiction,
control or supervision, or upon the uses thereof, or upon or with
respect to its activities or operations in furtherance of the powers
conferred upon it by this title, or upon or with respect to any fares,
tolls, rentals, rates, charges, fees, revenues or other income received
by the authority.

2. Any bonds, notes or other obligations issued pursuant to this
title, and the income therefrom, shall be exempt from taxation.