The principal of and interest on bonds, the transfer of bonds, and any income derived from the bonds, including profits made in their sale or transfer, are forever exempt from State and local taxes.
Structure Maryland Statutes
Division II - Independent and Regional Development Units and Resources
Title 12 - Local Development Authorities and Resources
Subtitle 1 - Economic Development Revenue Bond Act
Section 12-102 - Construction and Effect of Subtitle
Section 12-103 - Legislative Findings; Purposes of Subtitle
Section 12-105 - Industrial Development Authorities -- in General
Section 12-106 - Industrial Development Authorities -- Board of Directors
Section 12-107 - Administration
Section 12-108 - Benefit of Net Earnings
Section 12-109 - Powers of Authority, County, and Municipal Corporation
Section 12-111 - Authorizing Resolution
Section 12-112 - Manner and Price of Sale of Bonds; Applicability of Local Government Article
Section 12-113 - Payment of Bonds
Section 12-114 - Conclusive Presumption of Finding by Public Body
Section 12-115 - Alternative Procedures for Bond Issuance