NRS361.062. Property of trusts for furtherance of public functions exempted.

Latest version.

All property, both real and personal, of a trust created for the benefit and furtherance of any public function pursuant to the provisions of general or special law is exempt from taxation; but moneys in lieu of taxes may be paid to the beneficiary pursuant to any agreement contained in the instrument creating the trust.

(Added to NRS by 1971, 1036; A 1975, 1408)

                    
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