Indiana § 36-7-12-31 - Bonds, notes, warrants, proceeds, and interest; exemption from state taxes
Full text of Indiana Indiana Code § 36-7-12-31 — Bonds, notes, warrants, proceeds, and interest; exemption from state taxes, with citation guidance and answers to common questions.
§ 36-7-12-31. Bonds, notes, warrants, proceeds, and interest; exemption from state taxes
Sec. 31. Bonds, notes, or warrants issued under this chapter and:
(1) proceeds received from their sale by a holder, to the extent of the holder's cost of acquisition;
(2) proceeds received on their redemption before maturity;
(3) proceeds received at their maturity; and
(4) interest received on them;
are exempt from state taxes as provided by IC 6-8-5.
[Pre-Local Government Recodification Citation: 18-6-4.5-25.]
As added by Acts 1981, P.L.309, SEC.31. Amended by Acts 1982, P.L.28, SEC.11.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 36-7-12-31
What does Indiana Code § 36-7-12-31 cover?
Section 36-7-12-31 ("Bonds, notes, warrants, proceeds, and interest; exemption from state taxes") is part of the Indiana Code, the codified statutory law of Indiana. 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 Indiana § 36-7-12-31?
A common citation format is "Indiana Code § 36-7-12-31" (Indiana). 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 Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 36-7-12-31 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana 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 Indiana.