§ 120701 Bond Tax Exemption Rules

• •Money from bonds (like loans) issued by the board is not taxed by the state.
• •This means the state won't take extra money from these bonds or their interest.
• •But, some taxes like inheritance or estate taxes may still apply.

If the state sells bonds to build a new school, the money earned from those bonds won't be taxed by the state.

The state won't take extra money from the bonds or the interest they earn, but if someone inherits money from these bonds, they might still pay inheritance tax.