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Section 16-18b-19 Exemption From Federal Income Taxation.

Section 16-18B-19

Exemption from federal income taxation.

The corporation on behalf of the state shall have the power to provide for such payments to the United States of America as the directors deem necessary to cause the interest on any bonds to be and remain exempt from federal income taxation. The corporation shall have the power to make agreements respecting the investment of the proceeds of the bonds or other funds of the corporation necessary in order that the interest income on bonds of the corporation be and remain exempt from federal income taxation.

(Act 98-391, p. 771, §19.)

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Local Government
Alabama
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1
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Kay Ivey
Kay Ivey
April 10, 2017 -
Republican
1-334-242-3935
600 Dexter Ave., Montgomery, AL, 36104

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