26 U.S.C. § 103
Interest on State and local bonds
United States · Title 26 — INTERNAL REVENUE CODE · Status: effective
Cite this
- Citation
- 26 U.S.C. § 103, Interest on State and local bonds, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/462178
- Permanent ID
ys:prov:462178@1- SHA-256
59eb1db7ca7569b406d24e91cb79b559bfa13e71e0189c6877afd0bfcce487f4
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
Except as provided in subsection (b), gross income does not include interest on any State or local bond.
Subsection (a) shall not apply to—
Any private activity bond which is not a qualified bond (within the meaning of section 141).
Any arbitrage bond (within the meaning of section 148).
Any bond unless such bond meets the applicable requirements of section 149.
For purposes of this section and part IV—
The term “State or local bond” means an obligation of a State or political subdivision thereof.
The term “State” includes the District of Columbia and any possession of the United States.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone. The law that originally enacted this section predates the public laws loaded here, so only later amendments are listed.
- Revenue Adjustment Act of 1975House: no recorded tallySenate: no recorded tally
- An Act to amend title XVIII of the Social Security Act, and for other purposes.House: no recorded tallySenate: no recorded tally
- Tax Reform Act of 1976House: no recorded tallySenate: no recorded tally
- New York City Loan Guarantee Act of 1978House: no recorded tallySenate: no recorded tally
- Revenue Act of 1978House: no recorded tallySenate: no recorded tally
- Technical Corrections Act of 1979House: no recorded tallySenate: no recorded tally
- Crude Oil Windfall Profit Tax Act of 1980House: no recorded tallySenate: no recorded tally
- Omnibus Reconciliation Act of 1980House: no recorded tallySenate: no recorded tally
- Economic Recovery Tax Act of 1981House: no recorded tallySenate: no recorded tally
- Tax Equity and Fiscal Responsibility Act of 1982House: no recorded tallySenate: no recorded tally
- Surface Transportation Assistance Act of 1982House: no recorded tallySenate: no recorded tally
- An act to amend the Internal Revenue Code of 1954 with respect to the tax treatment of periodic payments for damages received on account of personal injury or sickness, and for other purposes.House: no recorded tallySenate: no recorded tally
- Deficit Reduction Act of 1984House: no recorded tallySenate: no recorded tally
- Consolidated Omnibus Budget Reconciliation Act of 1985House: no recorded tallySenate: no recorded tally
- Tax Reform Act of 1986House: no recorded tallySenate: no recorded tally
- Technical and Miscellaneous Revenue Act of 1988House: no recorded tallySenate: no recorded tally