Utah Statutes
§ 63H-8-303 — Power to issue mortgage credit certificates -- Impact of federal legislation on tax exempt status of corporation bonds.
Utah·Title 63H Independent State Entities·Ch. 63H-8 Utah Housing Corporation Act·Part 63H-8-3 Corporation Duties and Powers
(1)In order to accomplish the purposes of this chapter the corporation may issue mortgage credit certificates under 26 U.S.C. Sec. 25, as amended, and has the sole responsibility for issuing or approving the issuance of mortgage credit certificates allowable to the state.
(2)A power granted to the corporation by this chapter may not be diminished by the enactment of federal legislation that would cause the interest on bonds, notes, or other obligations of the corporation to be subject to taxation under federal law.
(3)An exemption from state taxation granted in this chapter is not affected by federal legislation described under Subsection (2).
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Utah § 63H-8-303 (Power to issue mortgage credit certificates -- Impact of federal legislation on tax exempt status of corporation bonds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Renumbered and Amended by Chapter 226, 2015 General Session
Nearby Sections
15
§ 63H-1-101
Title.§ 63H-1-102
Definitions.§ 63H-1-103
Severability.§ 63H-1-202
Applicability of other law.§ 63H-1-204
MIDA energy tax.§ 63H-1-205
MIDA accommodations tax.§ 63H-1-208
Former rail line.§ 63H-1-209
Immunity from contaminated property claims.§ 63H-1-301
Authority board -- Delegation of power.§ 63H-1-302
Number of board members -- Appointment.