701—302.36(422) Exemption of interest earned on bonds issued to finance beginning farmer loan program. Interest earned on or after July 1, 1989, from bonds or notes issued by the agricultural development authority to finance the beginning farmer loan program is exempt from the state income tax.
This rule is intended to implement Iowa Code sections 175.17 and 422.7.
[Editorial change: IAC Supplement 11/2/22]