The 1997 amendment applies to taxable years beginning after December 31, 1996. L 1997, c 107, §7.

Exempting particular classes from income taxes does not render law objectionable on grounds of inequality. 35 H. 855, aff'd 130 F.2d 786.

Exemption is grant of immunity where otherwise liable to assessment. 35 H. 855, aff'd 130 F.2d 786.

Claims for exemption strictly construed. 36 H. 340.