1. (a) An authority is not required to pay any tax or assessment on:

   1. (1) Any project; or
   2. (2) The income from any project.

2. (b) This State, any political subdivision, and any other public agency in this State may not tax:

   1. (1) Any bond that is issued under this subtitle;
   2. (2) The transfer of the bond; or
   3. (3) Any income from the bond, including any profit on the sale of the bond.

Added by Acts 1985, c. 173, § 2.