Tennessee § 49-7-904 College savings bonds - Authorized - Taxation

Tennessee Statutes

§ 49-7-904 — College savings bonds - Authorized - Taxation

Tennessee § 49-7-904

Title49

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Bluebook

Tenn. Code Ann. § 49-7-904 (2026).

Text

(a)Bonds issued by the state funding board pursuant to title 9, chapter 9, or by the Tennessee state school bond authority pursuant to chapter 3, part 12 of this title, may be designated by the appropriate issuer as college savings bonds and issued in accordance with this part.

(b)College savings bonds and the interest on the bonds shall be free from all taxation by the state or its political subdivisions, except for inheritance, transfer and estate taxes, and except to the extent the interest may be included within the measure of corporate privilege taxes imposed pursuant to state law.

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(a) Bonds issued by the state funding board pursuant to title 9, chapter 9, or by the Tennessee state school bond authority pursuant to chapter 3, part 12 of this title, may be designated by the appropriate issuer as college savings bonds and issued in accordance with this part. (b) College savings bonds and the interest on the bonds shall be free from all taxation by the state or its political subdivisions, except for inheritance, transfer and estate taxes, and except to the extent the interest may be included within the measure of corporate privilege taxes imposed pursuant to state law.