Exemption of property from taxation

The real property of a housing project, as defined in the Regional Housing Law, is declared to be public property used for essential public and governmental purposes and is property of a regional housing authority of this state and is exempt from taxation until a deed conveying that property to a nonexempt entity is executed and delivered by the regional housing authority. History: Laws 1994, ch. 132, § 22; 2009, ch. 48, § 15.