NRS319.327. Exemption of interest on Division’s bonds from federal income taxation: Waiver; issuance of obligations not exempt from taxation.

  The Division may:

      1.  Waive, by such means as the Division deems appropriate, any exemption from federal income taxation of interest on the division’s bonds, notes or other obligations provided by 26 U.S.C. §§ 103 and 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 this chapter.

      (Added to NRS by 1987, 1352)