It is enacted by the General Assembly as follows:

SECTION 1. The act passed by the general assembly at its January session 1955 and approved March 30, 1955 entitled "An Act to Incorporate the Greenville Water District," as amended by Chapter 22 of the 1996 Public Laws, as further amended, is hereby further amended by adding thereto the following section:

"SECTION 11. Tax Exempt Status. All property, real and personal, owned or held by the Greenville Water District, shall be free and exempt from all taxation."

SECTION 2. This act shall take effect upon passage.