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U.S. Code as of:
01/19/04
Section 1401e. Exemptions from taxation; authority of municipalities to alter, amend, or repeal existing laws
Nothing in sections 1401 to 1401e of this title shall be
construed as altering, amending, or repealing exemptions from
taxation, existing on May 26, 1936, of property used for
educational, charitable, or religious purposes. Subject to the
provisions of said sections, the legislative authority of the
respective municipalities is empowered to alter, amend, or repeal,
subject to the approval of the Governor, any law imposing taxes on
real and personal property on May 26, 1936.
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