California · Government Code

GOV §5903.5: Section 5903 shall apply to any bonds the interest on which will not be subject to federal income taxation under the law in existence on the date of issuance or pending on the date of issuance with an

What this law says, in plain English

This statute applies Section 5903 to bonds whose interest will not be subject to federal income tax based on laws existing or pending on the issuance date.

Read the full statutory text

Section 5903 shall apply to any bonds the interest on which will not be subject to federal income taxation under the law in existence on the date of issuance or pending on the date of issuance with an effective date preceding the date of issuance, notwithstanding any other provision of law, if the bonds are issued by the same state or local government for the same project or purpose and within 45 days of the date of issuance of bonds described in Section 5903.

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