204-C:49 Tax Exemption. –
I. The exercise of the powers granted by this chapter shall be in all respects for the benefit of the people of the state, for their well being and prosperity and for the improvement of their social and economic conditions, and the authority shall not be required to pay any tax or assessment on any property owned by the authority under the provisions of this chapter or upon the income from such property; nor shall the authority be required to pay any recording fee or transfer tax of any kind on account of instruments recorded by it or on its behalf. Any obligations issued by the authority under this chapter, their transfer, and the income from such obligations, including any profits made on their sale shall at all times be free from taxation by the state or any political subdivision of the state, excepting inheritance, estate and gift taxes.
II. The authority may covenant and consent that the interest on certain of its bonds shall be includable, under the Internal Revenue Code of 1954 or any subsequent corresponding internal revenue law of the United States, in the gross income of the holders of the bonds to the same extent and in the same manner that the interest on bills, bonds, notes or other obligations of the United States is includable in the gross income of the holders thereof under said Internal Revenue Code or any such subsequent law. The powers herein conferred shall be in addition to the powers conferred by any other law and such powers shall not be subject to the limitations or restrictions of any other law, but nothing contained herein shall be construed to covenant or consent, or to authorize any covenant or consent, to the application of any other provision of any other law, federal or state, to the authority or to such bonds, notes, or other obligations, or to the elimination or modification in any way of any other exemption, including without limitation exemption from taxation under RSA 204-C:49, I, privilege, or immunity thereof.