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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>59284</law_id><section_number>15.2-5422</section_number><catch_line>Bonds exempt from taxation</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="15.2">Counties, Cities and Towns</unit><unit label="subtitle" level="2" order_by="1" identifier="IV">Other Governmental Entities</unit><unit label="chapter" level="3" order_by="1" identifier="54">Electric Authorities Act</unit></structure><text>
						<section><p><span class="dictionary"><span class="dictionary">Bonds</span></span>, their transfer and the income therefrom, including any profit made on the sale thereof, shall at all times be exempt from all taxation by the Commonwealth or any political subdivision thereof, except inheritance or gift taxes.</p></section></text><history>1979, c. 416, &#xA7; 15.1-1625; 1997, c. 587.</history><metadata></metadata></law>
