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56.869 Tax exemptions for notes issued by the commission -- Negotiability of notes.
Interest on all funding notes, project notes, and tax and revenue anticipation notes issued <br>by the commission shall be exempt from income taxation and the funding notes, project <br>notes, and tax and revenue anticipation notes shall be exempt from ad valorem taxation <br>by the Commonwealth and its political subdivisions. All funding notes, project notes, and <br>tax and revenue anticipation notes issued pursuant to KRS 56.860 to 56.869 shall be <br>negotiable instruments.
Effective: May 30, 1997 <br>History: Created 1997 (1st Extra. Sess.) Ky. Acts ch. 4, sec. 11, effective May 30,
1997.
Page 1 of 1
56.869 Tax exemptions for notes issued by the commission -- Negotiability of notes.
Interest on all funding notes, project notes, and tax and revenue anticipation notes issued <br>by the commission shall be exempt from income taxation and the funding notes, project <br>notes, and tax and revenue anticipation notes shall be exempt from ad valorem taxation <br>by the Commonwealth and its political subdivisions. All funding notes, project notes, and <br>tax and revenue anticipation notes issued pursuant to KRS 56.860 to 56.869 shall be <br>negotiable instruments.
Effective: May 30, 1997 <br>History: Created 1997 (1st Extra. Sess.) Ky. Acts ch. 4, sec. 11, effective May 30,
1997.
Page 1 of 1
56.869 Tax exemptions for notes issued by the commission -- Negotiability of notes.
Interest on all funding notes, project notes, and tax and revenue anticipation notes issued <br>by the commission shall be exempt from income taxation and the funding notes, project <br>notes, and tax and revenue anticipation notes shall be exempt from ad valorem taxation <br>by the Commonwealth and its political subdivisions. All funding notes, project notes, and <br>tax and revenue anticipation notes issued pursuant to KRS 56.860 to 56.869 shall be <br>negotiable instruments.
Effective: May 30, 1997 <br>History: Created 1997 (1st Extra. Sess.) Ky. Acts ch. 4, sec. 11, effective May 30,
1997.
