There is a newer version
of
this Section
2017 Rhode Island General Laws
Title 35 - Public Finance
Chapter 35-8 - Bonded Indebtedness of State
Section 35-8-28 - Interest earnings on state bonded indebtedness - Federal requirements.
Universal Citation: RI Gen L § 35-8-28 (2017)
§ 35-8-28. Interest earnings on state bonded indebtedness - Federal requirements.
Notwithstanding any general or public law or rule to the contrary, income from investments in the capital development fund may be applied to capital purposes and shall not become part of the general fund of the state to the extent necessary to exempt (in whole or in part) the interest paid on such bonds or notes from federal taxation, to preserve and maintain any federal tax credits associated with such bonds or notes, or to preserve or maintain any refundable tax credits paid or to be paid to the state with regard to such bonds or notes.
History of Section.
(P.L. 2010, ch. 7, § 1.)
Disclaimer: These codes may not be the most recent version. Rhode Island may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
