Delaware § 1319 - Exemption from taxation.
Full text of Delaware Delaware Code § 1319 — Exemption from taxation., with citation guidance and answers to common questions.
§ 1319. Exemption from taxation.
The State covenants with the purchasers and with all subsequent holders, owners and transferees of bonds, in consideration of the acceptance of and payment for the bonds, that the bonds (which include interest thereon), and their transfer, shall be exempt from taxation by the State and its political subdivisions, except for estate, inheritance or gift taxes.
Notwithstanding the foregoing, the Authority may elect to issue bonds, the interest on which is subject to federal income taxation.
Any real or personal property of the Authority and all revenues of the Authority shall be exempt from any and all taxation by the State or any political subdivision thereof for any purpose.
62 Del. Laws, c. 164, §§ 1, 2; 63 Del. Laws, c. 179, § 34;Frequently Asked Questions About Delaware § 1319
What does Delaware Code § 1319 cover?
Section 1319 ("Exemption from taxation.") is part of the Delaware Code, the codified statutory law of Delaware. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Delaware § 1319?
A common citation format is "Delaware Code § 1319" (Delaware). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Delaware law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Delaware official source linked on this page or consult a licensed Delaware attorney.
How does Delaware § 1319 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Delaware can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Delaware.