§ 1-1109
58 words·~1 min read·
/md/local-government/1-1109A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§1–1109.
(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 the sale or exchange of a bond are exempt from State and local taxes.
(b)A county or municipality may issue bonds without regard to the federal tax status of the bonds.