Authority and bonds exempt from tax

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  7. Authority and bonds exempt from tax

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    (a)    An authority is not required to pay any tax or assessment on:

        (1)    Any project; or

        (2)    The income from any project.

    (b)    This State, any political subdivision, and any other public agency in this State may not tax:

        (1)    Any bond that is issued under this subtitle;

        (2)    The transfer of the bond; or

        (3)    Any income from the bond, including any profit on the sale of the bond.


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