---
urn: urn:us-la:rs:47:51
citation: "R.S. 47:51"
status: active
breadcrumb: "Title 47 › Subtitle II › Chapter 1 › Part I › Subpart C"
acts_citations:
  - { year: 1979, number: 300, section: 1, effective_date: null, role: enactment }
  - { year: 2015, number: 123, section: 1, effective_date: 2015-07-01, role: amendment }
---

# Exclusions from gross income; governmental subsidies

Funds accrued by a corporation engaged in operating a public transportation system from any federal, state or municipal governmental entity to subsidize the operation and maintenance of such a transportation system shall not be included in gross income and shall be exempt from taxation under this Chapter. All expenses of operating the transit system incurred by the corporation shall be deductible in arriving at net income.