Exemption from Taxation, and In-Lieu Payments

As an instrumentality of Guam, the Authority and all property acquired by or for the Board and all revenues and income therefrom are exempt from taxation by Guam or by any political subdivision or public corporation thereof and from all taxes imposed under the authority of I Liheslaturan Guåhan, or with respect to which I Liheslatura is authorized to grant exemption. Sales of liquid fuels for electric power generation to the Authority are exempt from the tax on such sales to the same extent as sales to the United States are exempt and sales of all fuel to the Authority for electric power generation are exempt from the business privilege tax. SOURCE: GC § 21509, Subsection (b) repealed by P.L. 16-025:1 (Aug. 21, 1981). Amended by P.L. 29-002:VI:28 (May 18, 2007) the name, Gross Receipts Tax, changed to Business Privilege Tax, effective July 17, 2007. 2025 NOTE: Reference to the “Guam Legislature” replaced with I Liheslaturan Guåhan and reference to the “Legislature” replaced with I Liheslatura pursuant to 2 GCA § 1101. 2023 NOTE: References to “Territory” replaced with “Guam” pursuant to 1 GCA § 420. 2014 NOTE: Subsection designation was removed to adhere to the Compiler’s general codification scheme pursuant to the authority granted by 1 GCA § 1606.