§ 9-957. Authority and bonds exempt from tax

Latest version.

   (a) No tax on projects. -- An authority is not required to pay any tax or assessment on:

   (1) Any project; or

   (2) The income from any project.

(b) No tax on bonds. -- This State, any political subdivision, and any other public agency in this State may not tax:

   (1) Any bond that is issued under this subtitle;

   (2) The transfer of the bond; or

   (3) Any income from the bond, including any profit on the sale of the bond.

HISTORY: 1985, ch. 173, § 2.

                    
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