Text: HSB00747 Text: HSB00749 Text: HSB00700 - HSB00799 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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PAG LIN
1 1 Section 1. Section 296.1, Code 1995, is amended by adding
1 2 the following new unnumbered paragraph:
1 3 NEW UNNUMBERED PARAGRAPH. Any bonds or notes issued under
1 4 the terms of this section by a school district shall be exempt
1 5 from taxation by the state of Iowa and the interest on the
1 6 bonds or notes shall be exempt from the state income tax.
1 7 Sec. 2. This Act applies to bonds and notes of a school
1 8 district issued on or after the effective date of this Act.
1 9 EXPLANATION
1 10 The bill exempts from taxation by the state bonds and notes
1 11 issued by school districts and the interest earned is exempt
1 12 from the state income tax.
1 13 The bill applies to bonds and notes issued on or after the
1 14 effective date.
1 15 LSB 4225YC 76
1 16 mg/sc/14
Text: HSB00747 Text: HSB00749 Text: HSB00700 - HSB00799 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
Iowa General Assembly
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