164A.200 Corporation exempt from taxation -- Interest on bonds issued by corporation may be subject to federal income taxation. The Kentucky Higher Education Student Loan Corporation has been duly created as an <br>independent de jure municipal corporation and political subdivision of the <br>Commonwealth of Kentucky. As the corporation will in all respects be performing <br>essential governmental and public functions, the corporation shall not be required to pay <br>any taxes or assessments upon any of its property, real, personal, or mixed, nor upon the <br>income therefrom; and bonds, notes or other obligations issued by the corporation under <br>this chapter, the income thereon, and the transfer thereof, including any profit made on <br>the sale thereof, shall at all times be exempt from taxation or assessment of any type by <br>the Commonwealth, its agencies and departments, and by all political subdivisions within <br>the state. Nothing contained in this chapter shall preclude or prevent the authorization and <br>issuance by the corporation from time to time of bonds, notes or other obligations, the <br>receipt of interest on which may be subject to federal income taxation. Effective: July 13, 1984 <br>History: Amended 1984 Ky. Acts ch. 356, sec. 1, effective July 13, 1984. -- Created 1978 Ky. Acts ch. 387, sec. 20, effective June 17, 1978.
164A.200 Corporation exempt from taxation -- Interest on bonds issued by corporation may be subject to federal income taxation. The Kentucky Higher Education Student Loan Corporation has been duly created as an <br>independent de jure municipal corporation and political subdivision of the <br>Commonwealth of Kentucky. As the corporation will in all respects be performing <br>essential governmental and public functions, the corporation shall not be required to pay <br>any taxes or assessments upon any of its property, real, personal, or mixed, nor upon the <br>income therefrom; and bonds, notes or other obligations issued by the corporation under <br>this chapter, the income thereon, and the transfer thereof, including any profit made on <br>the sale thereof, shall at all times be exempt from taxation or assessment of any type by <br>the Commonwealth, its agencies and departments, and by all political subdivisions within <br>the state. Nothing contained in this chapter shall preclude or prevent the authorization and <br>issuance by the corporation from time to time of bonds, notes or other obligations, the <br>receipt of interest on which may be subject to federal income taxation. Effective: July 13, 1984 <br>History: Amended 1984 Ky. Acts ch. 356, sec. 1, effective July 13, 1984. -- Created 1978 Ky. Acts ch. 387, sec. 20, effective June 17, 1978.
164A.200 Corporation exempt from taxation -- Interest on bonds issued by corporation may be subject to federal income taxation. The Kentucky Higher Education Student Loan Corporation has been duly created as an <br>independent de jure municipal corporation and political subdivision of the <br>Commonwealth of Kentucky. As the corporation will in all respects be performing <br>essential governmental and public functions, the corporation shall not be required to pay <br>any taxes or assessments upon any of its property, real, personal, or mixed, nor upon the <br>income therefrom; and bonds, notes or other obligations issued by the corporation under <br>this chapter, the income thereon, and the transfer thereof, including any profit made on <br>the sale thereof, shall at all times be exempt from taxation or assessment of any type by <br>the Commonwealth, its agencies and departments, and by all political subdivisions within <br>the state. Nothing contained in this chapter shall preclude or prevent the authorization and <br>issuance by the corporation from time to time of bonds, notes or other obligations, the <br>receipt of interest on which may be subject to federal income taxation. Effective: July 13, 1984 <br>History: Amended 1984 Ky. Acts ch. 356, sec. 1, effective July 13, 1984. -- Created 1978 Ky. Acts ch. 387, sec. 20, effective June 17, 1978.
