56.869 Tax exemptions for notes issued by the commission -- Negotiability of notes. - Kentucky Statutes

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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
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. Effective: May 30, 1997
History: Created 1997 (1st Extra. Sess.) Ky. Acts ch. 4, sec. 11, effective May 30, 1997.