Printable Format79-1407. Tax exempt bonds. No person shall be required to list for taxation any state, county, city, school district and municipal bonds of the state of Kansas, or other evidences of indebtedness issued by municipal corporations of this state.
History: L. 1925, ch. 279, § 1; L. 1930, ch. 17, § 1; March 11.
Source or prior law:
L. 1907, ch. 408, § 15; R.S. 1923, 79-1407.
Cross References to Related Sections:
Secured debts, exemption of governmental obligations stamped as, see 79-3121 through 79-3125.
Law Review and Bar Journal References:
Mentioned in discussing tax exemptions, Peter F. Caldwell, 1958 J.C.B. 69, 74.
Mentioned as comparison in discussion of exemptions under industrial revenue bond financing, Donald A. Bell and Winton M. Hinkle, 9 W.L.J. 372, 378 (1970).
"Survey of Kansas Law: Taxation," Sandra Craig McKenzie and Virginia Ratzlaff, 33 K.L.R. 71, 83 (1984).
CASE ANNOTATIONS
1. Bonds of the United States are not taxable. Lantz v. Hanna, 111 Kan. 461, 463, 207 P. 767.
2. Cited in construing operation of money and credits law. Davis-Wellcome Mortgage Co. v. Haynes, 119 Kan. 1, 5, 237 P. 918. Overruled: Voran v. Wright, 129 Kan. 601, 607, 284 P. 807.
3. Cited in holding mortgage-registration ct of 1925 constitutional. Citizens Bank v. State Tax Commission, 132 Kan. 5, 6, 294 P. 940.