Section 1-16H-44 - Property tax exemption for certain leased property in Lawrence CountyIf the authority leases land, improvements, equipment, fixtures, or other property interests in Lawrence County to an entity that:
(1) Is organized and operated on a not-for-profit basis;(2) Is organized as a limited liability company;(3) Has members of the limited liability company otherwise qualifying for exemption from real property taxation in the state where the entity's headquarters are located; and(4) Is organized and operated for scientific research and related educational purposes;the property and any possessory interest in the property is exempt from real property taxation.