§1049. Tax exemption






Revenue obligation securities issued under this subchapter shall constitute a proper
public purpose and the securities, their transfer and the income from them, including
any profits made on their sale, shall at all times be exempt from taxation within
the State, whether or not those securities, their transfer or the income from them,
including any profits made on their sale, are subject to taxation under the United
States Internal Revenue Code, as amended. [1987, c. 393, §11 (AMD).]





SECTION HISTORY

1981, c. 476, §2 (NEW).
1987, c. 393, §11 (AMD).