Section 24991.

Cal. Revenue and Taxation Code - RTC § 24991.
in effect
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Section 1275(a)(3) of the Internal Revenue Code, relating to the definition of tax-exempt obligation, does not apply but instead the term “tax-exempt obligation” means an obligation the interest on which is exempt from tax under this part.

References

referencesCal. Revenue and Taxation Code - RTC § 1275.
Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026

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