California Revenue and Taxation Code

§ 24314

RTC § 24314 Effective Jul 15, 1986Div. 2 · Part 11 · Ch. 6 · Art. 2

Statute text

The following phrase (or its substantial equivalent) in other codes or statutes does not exempt the gain or loss from the sale or transfer of bonds from the provisions of this part: “The issuance, transfer and interest income earned on any bonds issued by an agency (state or local) under this article (chapter, section, etc.) is exempt from taxation of every kind by any state or local entity.”

Legislative history

Added by Stats. 1986, Ch. 317, Sec. 2. Effective July 15, 1986.