Section 16-54-12

Property exempt from taxes; employees exempt from town license taxes.

The property of the university, of every kind and description, shall forever be exempt from all taxes, municipal, county or state, and from all local assessments. All employees are exempt from the payment of town licenses for their labor while working for this institution.

(School Code 1927, §511; Code 1940, T. 52, §467; Acts 1979, No. 79-225, p. 342, §1.)