§ 35-8-22 - Rebate to federal government. - Rhode Island Statutes

SECTION 35-8-22

   § 35-8-22  Rebate to federal government.– Notwithstanding any contrary provision of general or special law, the state andits agencies may rebate to the United States treasury any income frominvestments (including gains from the disposition of investments) of proceedsof bonds or notes to the extent deemed necessary to exempt (in whole or inpart) the interest paid on the bonds or notes from federal income taxation.