Maryland · Maryland Code — Transportation Article
Md. Code, Transp. § 3-607: (a) The bonds, notes, and other evidences of obligation issued under this subtitle, their transfer, the interest payable on them, and any income derived from them, including any profit realized in their sale or exchange, shall be exempt from taxation by this State or by any of its political subdivis
What this law says, in plain English
This statute establishes tax-exempt status for certain bonds and notes issued by a state department, specifies they are not state debt, and permits the department to pledge revenues as security with priority over other claims.
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