§ 12-309. Tax status

MD Econ Dev Code § 12-309 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(a)    A bond, the transfer of a bond, the interest payable on a bond, the income derived from a bond, and the profit realized on sale or exchange of a bond are exempt from State and local taxes.

(b)    A political subdivision may issue bonds under this subtitle without regard to their federal tax status.