Section 9-957 - Authority and bonds exempt from tax.
§ 9-957. Authority and bonds exempt from tax.
(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.
[1985, ch. 173, § 2.]