(a) A bond, the transfer of a bond, the interest payable on a bond, the income derived from a bond, and the profit realized on sale or exchange of a bond are exempt from State and local taxes.
(b) A political subdivision may issue bonds under this subtitle without regard to their federal tax status.
Structure Maryland Statutes
Division II - Independent and Regional Development Units and Resources
Title 12 - Local Development Authorities and Resources
Subtitle 3 - Redevelopment Bonds
Section 12-302 - Ordinance or Resolution
Section 12-303 - Designation of Blighted Area
Section 12-304 - Authority to Issue Bonds
Section 12-305 - Security for Bonds
Section 12-306 - Allowable Expenditures
Section 12-307 - Agreements Between Political Subdivisions
Section 12-308 - Conditions of Issuance
Section 12-310 - Findings Conclusive