Federal · Title 48 — Territories and Insular Possessions
48 U.S.C. § 1670: Industrial development bonds
Read the full statutory text
The legislature of the government of American Samoa may cause to be issued after September 20, 1984 , industrial development bonds (within the meaning of section 103(b)(2) 1 of title 26). 1 See References in Text note below. The interest on any bond or other obligation issued by or on behalf of the Government of American Samoa shall be exempt from taxation by the Government of American Samoa and the governments of any of the several States, the District of Columbia, any territory or possession of the United States, and any subdivision thereof. The exemption provided by paragraph (1) shall not apply to gift, estate, inheritance, legacy, succession, or other wealth transfer taxes. For exclusion of interest for purposes of Federal income taxation, see section 103 of title 26 .
Verify at the official source: Federal legislative text
Facing this? Know exactly what happens next.
MOFRD turns this code section into your situation: the deadlines that apply to you, the forms your county uses, and the resolution paths people in your position actually take. Free for 3 days — no card required.
This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.