United States Code

26 U.S.C. § 103

Interest on State and local bonds

Statute Watch

Get an alert when any bill in Congress would change this law — and every time it moves.

Sign in to follow →

Bills that would change it 16

  • HR 2434 No Tax Subsidies for Stadiums Act of 2025 Amends 103(b), 103(c) · introduced · 119th Congress
  • S 1192 No Tax Subsidies for Stadiums Act of 2025 Amends 103(b), 103(c) · introduced · 119th Congress
  • HR 1879 No Tax Breaks for Sanctuary Cities Act Amends 103(c) · introduced · 119th Congress
  • S 311 ACE Act Amends · introduced · 119th Congress
  • HR 750 ACE Act Amends · introduced · 119th Congress
  • HR 6795 ACE Act Amends · introduced · 118th Congress
  • S 3520 ACE Act Amends · introduced · 118th Congress
  • HR 993 No Tax Subsidies for Stadiums Act of 2023 Amends 103(b), 103(c) · introduced · 118th Congress
  • S 392 No Tax Subsidies for Stadiums Act of 2023 Amends 103(b), 103(c) · introduced · 118th Congress
  • HR 6806 No Tax Subsidies for Stadiums Act of 2022 Amends 103(b), 103(c) · introduced · 117th Congress
  • HR 894 No Tax Breaks for Sanctuary Cities Act Amends 103(c) · introduced · 117th Congress
  • HR 606 No Abortion Bonds Act Amends · introduced · 117th Congress
  • HR 2446 No Tax Subsidies for Stadiums Act of 2019 Amends 103(b), 103(c) · introduced · 116th Congress
  • S 1242 A bill to amend the Internal Revenue Code of 1986 to ensure that bonds used to finance professional stadiums are not treated as tax-exemp... Amends 103(b), 103(c) · introduced · 116th Congress
  • HR 219 No Abortion Bonds Act Amends · introduced · 116th Congress
  • HR 4131 No Abortion Bonds Act Amends · introduced · 115th Congress

The law today

From the official United States Code, current through Public Law 119-124.

(a) Exclusion Except as provided in subsection (b), gross income does not include interest on any State or local bond. (b) Exceptions Subsection (a) shall not apply to— (1) Private activity bond which is not a qualified bond Any private activity bond which is not a qualified bond (within the meaning of section 141). (2) Arbitrage bond Any arbitrage bond (within the meaning of section 148). (3) Bond not in registered form, etc. Any bond unless such bond meets the applicable requirements of section 149. (c) Definitions For purposes of this section and part IV— (1) State or local bond The term “State or local bond” means an obligation of a State or political subdivision thereof. (2) State The term “State” includes the District of Columbia and any possession of the United States.
Official text at uscode.house.gov ↗