§ 52. Tax exemptions of an authority. 1. An authority shall be exempt\nfrom the payment of (a) any taxes or fees to the state or any\nsubdivision thereof and (b) any fees to any officer or employee of the\nstate or of any subdivision thereof, except where it is provided by or\npursuant to law that such officer or employee is personally entitled to\nsuch fees as compensation for services rendered or performed by him in\nhis official capacity.\n 2. Bonds, mortgages, notes and other obligations of an authority are\ndeclared to be issued for a public purpose and to be public\ninstrumentalities and together with interest thereon, shall be exempt\nfrom tax.\n 2-a. The state of New York hereby consents to the inclusion, under the\nUnited States internal revenue code of nineteen hundred fifty-four or\nany subsequent internal revenue law of the United States of the interest\npayable on bonds, mortgages, notes or other obligations of an authority\nwhich are hereafter issued and secured (1) by a mortgage which is\ninsured under section two hundred twenty-one (d) (3) of the national\nhousing act (or any successor section under said act or any subsequent\nhousing act) by an authority as mortgagor in connection with the\nfinancing of a project assisted under section eight of the United States\nhousing act of nineteen hundred thirty-seven, or (2) by a pledge of\nhousing assistance payments made or to be made under a contract or\ncontracts between an authority and the United States or any agency or\ninstrumentality thereof, in the gross income of the person who receives\nor is entitled to receive such interest to the same extent and in the\nsame manner that the interest on bills, notes, bonds or other\nobligations of the United States issued subsequent to the effective date\nof section four of the public debt act of nineteen hundred forty-one is\nincludible in the gross income of the holder or holders thereof under\nsaid internal revenue code or any subsequent internal revenue law of the\nUnited States and, notwithstanding any provisions to the contrary\ncontained in this chapter or in any general, special or local law, an\nauthority is authorized and empowered to issue such bonds, mortgages,\nnotes or other obligations and shall include therein such reference to\nor summary of this subdivision as it shall deem proper. The consent\nhereby given by the state of New York shall not be construed to consent\nto the application of any other provision of any other law, federal or\nstate, to an authority or to the elimination or modification in any way\nof any other exemption, privilege, or immunity thereof.\n 3. Except as to state projects, the property of an authority shall be\nexempt from all local and municipal taxes. A federal or municipal\nproject consisting of land and one or more multiple dwellings leased by\nan authority for a term of not less than ten years shall be exempt from\nsuch taxes during the period of such lease. A municipality may (a) fix a\nsum which shall be paid to it annually by the authority in respect of\neach project; or (b) agree that the authority shall not pay or be liable\nto pay any sum whatsoever in respect of a project or projects for any\nyear or years; or (c) agree with an authority or government upon the sum\nto be paid by the authority for any year or years in respect of a\nproject or projects, or accept or agree to accept a fixed sum or other\nconsideration in lieu of such payment; provided, however, that the sum\nfixed, or agreed to be paid by the authority, for any year shall in no\ncase exceed the sum last levied as an annual tax upon the property\nincluded in such project prior to the time of its acquisition by the\nauthority; and provided, further, that the sum fixed, or agreed to be\npaid by the authority, for any year with respect to a federal project\nshall in no case exceed the sum last levied as an annual tax upon the\nproperty included in such project prior to the time of its acquisition\nby the au
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