CA Pub Util Code Section 130531

Notwithstanding any other provision of law:

(a)

The commission and its revenues are exempt from all taxes on, or measured by, income.

(b)

Bonds issued by the commission are exempt from all property taxation, and the interest on the bonds are exempt from all taxes on income.

(c)

All property owned by the commission is exempt from property taxes, assessments, and other public charges secured by liens.