Any bonds issued by the bank, the transfer of bonds, and the income from them, are free from taxation and assessment of every kind by the state and by the local governments and other political subdivisions of the state.
Ala. Code § 23-7-26
Taxation of Bonds and Income.
Known as the Alabama Transportation Infrastructure Bank Act
The act spans §§ 23-7-1 to 23-7-9 (31 sections).
(Act 2015-50, §26.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.