The exercise of the powers granted by the Oklahoma Space Industry Development Act to the Oklahoma Space Industry Development Authority will be in all respects for the benefit of the people of the state. The operation and maintenance of projects by the Authority will constitute the performance of essential governmental functions, and the Authority shall not be required to pay any taxes or assessments upon any project or any property acquired or used by the Authority under the provisions of the Oklahoma Space Industry Development Act or upon the income therefrom, and the bonds issued under the provisions of the Oklahoma Space Industry Development Act, their transfer and the income therefrom, including any profit made on the sale thereof, shall at all times be free from taxation within the state.

Laws 1999, SB 720, c. 164, § 31, emerg. eff. July 1, 1999; Amended by Laws 2025, SB 912, c. 274, § 15, emerg. eff. July 1, 2025 (superseded document available); Renumbered from 74 O.S. 5231 by Laws 2025, SB 912, c. 274, § 48, emerg. eff. July 1, 2025.