55:14K-26 - Inclusion of interest on bonds in gross income for purposes of federal income tax - New Jersey Statutes

55:14K-26.  Inclusion of interest on bonds in gross income for purposes of federal income tax
    The agency may consent, at or prior to the time of issuance of any issue of  its bonds, to the inclusion of interest on such bonds in the gross income of  holders of such bonds under the federal Internal Revenue Code of 1954, as amended, or any subsequent federal law, to the same extent and in the same manner as the interest on bills, notes, bonds and other obligations of the United States is includible in the gross income of the holders thereof under the federal Internal Revenue Code of 1954, as amended, or any subsequent federal law.  Nothing contained in this act shall be construed to waive or to authorize the agency to waive any other exemption, privilege or immunity of the  State or to consent or to authorize the agency to consent to the application of  any other provision of any other laws, federal or State, to the agency or to  its bonds, which would not otherwise be so applicable.

     L.1983, c. 530, s. 26, eff. Jan. 17, 1984.