[§206M-12.5]  Federal tax-exempt status. Special purpose revenue bonds issued pursuant to this chapter, to the extentpracticable, shall be issued to comply with requirements imposed by applicablefederal law providing that the interest on the special purpose revenue bondsshall be excluded from gross income for federal income tax purposes (except ascertain minimum taxes, environmental taxes, or other federal taxes or taxconsequences may apply).  The development corporation may enter intoagreements, establish funds or accounts, and take any action required to complywith applicable federal law.  Nothing in this chapter shall be deemed toprohibit the issuance of special purpose revenue bonds, the interest on whichmay be included in gross income for federal income tax purposes. [L 2000, c 72,§2]