Public Finance

Bonded Indebtedness of State

SECTION 35-8-6.1

§ 35-8-6.1. Exclusion from sinking fund commission authority.

Notwithstanding any general law or special law to the contrary, the sinking fund commission shall have no authority to take or cause to be taken any action or actions that would adversely affect the exclusion from income taxation of interest on any bonds, notes or certificates of indebtedness, including without limitation the interest portion of any certificates of participation issued by or at the direction of the state.

History of Section.
(P.L. 1998, ch. 31, art. 26, § 3.)