# Local Government (GLG)

## Title 19. Public Debt

### Subtitle 2. Public Securities

#### Section 19-221

The following obligations are exempt from State and local taxation:

(1) a bond or grant anticipation note issued under this part;

(2) a bond issued to pay the notes issued under item (1) of this section; and

(3) the interest on the obligations.

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Md. Code Ann., Local Gov't (as displayed at mgaleg.maryland.gov, October 16, 2026)