# Financial Institutions (GFI)

## Title 13. State-Operated Financial Programs

### Subtitle 11. Heritage Areas

#### Section 13-1123

The bonds of the Authority, their transfer, the interest payable on them, and any income derived from them, including any profit realized in their sale or exchange, are exempt at all times from every kind of taxation by this State or by any of its political subdivisions, municipal corporations, or public agencies.

---

Md. Code Ann., Fin. Inst. (as displayed at mgaleg.maryland.gov, October 16, 2026)