It is hereby determined that the creation of the commission and the carrying out of its corporate purposes is in all respects for the benefit of the people of the state and is a public purpose, and the commission shall be regarded as performing a governmental function in the exercise of the powers conferred upon it by this title and shall be required to pay no taxes or assessments upon any of the property acquired by it or under its jurisdiction or control or supervision or upon its activities.
New York Legal Code