1008.258 – BONDS EXEMPT FROM TAXATION. The following are
Texas Special District Local Laws Code § 1008.258
Summary
This law exempts certain bonds issued by special districts from state and local taxation. It benefits the districts by allowing them to issue bonds without the burden of tax liabilities, thereby encouraging investment and funding for local projects.
Bonds issued by the district are tax-exempt.
Transfer and issuance of these bonds are also exempt from taxation.
Profits from the sale of the bonds are not taxable.
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In simple terms: Learn about Texas's BONDS EXEMPT FROM TAXATION. The following are law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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