The Controller shall establish and maintain accounts and perform accounting transactions as determined by the Treasurer to be necessary to comply with all provisions of federal law and regulations pertaining to retaining the bondholders’ exemption from federal income taxation on interest paid on state bonds.
State agencies administering state bond programs shall provide the Treasurer with all program and fiscal information as determined by the Treasurer to be necessary to comply with these federal provisions.
(Added by Stats. 1987, Ch. 6, Sec. 3. Effective March 23, 1987.)
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