80-12-305. Tax exemption of bonds. Bonds issued by the authority under this chapter and their transfer and income, including any profits made on their sale, are exempt from taxation by the state or any political subdivision or other instrumentality of the state, except for estate taxes. The authority is not required to pay recording or transfer fees or taxes on instruments recorded by it.
History: En. Sec. 22, Ch. 580, L. 1983; amd. Sec. 33, Ch. 9, Sp. L. May 2000.
Structure Montana Code Annotated
Chapter 12. Montana Agricultural Loan Authority Act
80-12-301. Issuance of bonds -- credit of the state not pledged
80-12-302. Provisions of bond resolutions or trust indentures
80-12-304. Negotiability of bonds
80-12-305. Tax exemption of bonds
80-12-306. Purchase of bonds -- cancellation
80-12-307. Pledge against impairment of contracts
80-12-310. Continuing validity of authority members' signatures
80-12-311. Accounts of the authority
80-12-312. Reserve funds and appropriations