Maryland Housing and Community Development Section 4-252

      The following are exempt at all times from taxation of every kind and nature whatsoever by the State, a political subdivision, or a governmental unit of any kind:

            (1)      a bond or note that the Administration issues under this part;

            (2)      the transfer of, interest payable on, or income derived from the bond or note; and

            (3)      profit realized by the sale or exchange of the bond or note.