California Insurance Code 10089.48 – Interest earned on any bonds issued by the authority shall at all …
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Interest earned on any bonds issued by the authority shall at all times be free from state personal income tax and corporate income tax.
(Added by Stats. 1995, Ch. 944, Sec. 2. Effective January 1, 1996.)
Terms Used In California Insurance Code 10089.48
- Authority: means the California Earthquake Authority. See California Insurance Code 10089.5
- Bonds: means bonds, notes, commercial paper, variable rate and variable maturity securities, and any other evidence of indebtedness. See California Insurance Code 10089.5
- State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28