Statutory Text

Economic Development § 10-337

§ 10-337 — Tax Status

Statutory Text

    (a)    The Authority, its agent, or its lessee is not required to pay a tax or assessment on:

        (1)    a project or property that it acquires or uses under this subtitle; or

        (2)    the income from that project or property.

    (b)    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 all State and local taxes.