Alabama § 16-16B-11 (Implementation Conditioned on Separate Legislative Enactment.) Tax Exemption

Alabama Statutes

§ 16-16B-11 — (Implementation Conditioned on Separate Legislative Enactment.) Tax Exemption

Alabama § 16-16B-11

Title 16Education

Ch. 16BAlabama Ahead Act

This text of Alabama § 16-16B-11 ((Implementation Conditioned on Separate Legislative Enactment.) Tax Exemption) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 16-16B-11 (2026).

Text

The Authority shall have the power to make such payments to the United States of America as the board of directors of the Authority deems necessary to cause the interest on any bonds of the Authority, including the Bonds, to be and remain exempt from, or excludible from gross income for purposes of, federal income taxation. The Authority shall have the power to make such agreements respecting the investment of funds of the Authority as the Authority shall deem necessary in order that the interest income on bonds of the Authority be and remain exempt from, or excludible from gross income for purposes of, federal income taxation.

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The Authority shall have the power to make such payments to the United States of America as the board of directors of the Authority deems necessary to cause the interest on any bonds of the Authority, including the Bonds, to be and remain exempt from, or excludible from gross income for purposes of, federal income taxation. The Authority shall have the power to make such agreements respecting the investment of funds of the Authority as the Authority shall deem necessary in order that the interest income on bonds of the Authority be and remain exempt from, or excludible from gross income for purposes of, federal income taxation.