1. (a) Except as provided in subsection (b) of this section, the Corporation is not required to pay taxes or assessments on its:

   1. (1) properties;
   2. (2) activities; or
   3. (3) revenue derived from its properties or activities.
2. (b) If the Corporation sells or leases land or facilities to a private entity, the land or facilities shall be subject to real property taxes.

Added by Acts 2004, c. 26, § 2, eff. Oct. 1, 2004.