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All real and chattel property, including land, buildings, equipment, accessories, vehicles, and any property currently owned or to be acquired in the future by any community economic development entity or its subsidiaries sponsored by Titles II and VII of the Federal Economic Opportunities Act, and by special employee-owned corporations or their subsidiaries for the development of their goals and purposes is hereby exempted from the payment of Commonwealth or municipal property taxes. History —Apr. 20, 1979, No. 37, p. 90, § 1; Sept. 11, 1979, No. 5, p. 996; Aug. 29, 1990, No. 74, p. 415, § 6, eff. 30 days after Aug. 29, 1990.