Nevada Revised Statutes 315.99856 – Notes, bonds and other obligations: Waiver of exemption of interest from federal income taxation; issuance of obligations not exempt from taxation
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The Authority may:
Terms Used In Nevada Revised Statutes 315.99856
- Statute: A law passed by a legislature.
1. Waive, by such means as the Authority deems appropriate, any exemption from federal income taxation of interest on the bonds, notes or other obligations of the Authority provided by 26 U.S.C. § 141 to 149, inclusive, and related portions of the Internal Revenue Code or any succeeding code or other federal statute providing a similar exemption; or
2. Issue notes, bonds or other obligations, the interest on which is not exempt from federal income taxation or excluded from gross revenue for the purpose of federal income taxation, if necessary to carry out the purposes of NRS 315.961 to 315.99874, inclusive.