Interest on all funding notes, project notes, and tax and revenue anticipation notes issued by the commission shall be exempt from income taxation and the funding notes, project notes, and tax and revenue anticipation notes shall be exempt from ad valorem taxation by the Commonwealth and its political subdivisions. All funding notes, project notes, and tax and revenue anticipation notes issued pursuant to KRS 56.860 to 56.869 shall be negotiable instruments.
KRS 56.869
Tax exemptions for notes issued by the commission -- Negotiability of notes
Effective: May 30, 1997 History: Created 1997 (1st Extra
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.