48 U.S.C. § 745
Tax exempt bonds
All bonds issued by the Government of Puerto Rico, or by its authority, shall be exempt from taxation by the Government of the United States, or by the Government of Puerto Rico or of any political or municipal subdivision thereof, or by any State, Territory, or possession, or by any county, municipality, or other municipal subdivision of any State, Territory, or possession of the United States, or by the District of Columbia.
Notes of Decisions
Cited in 5
cases, 1952–2015 · leading case: Franklin California Tax-Free v. Commonwealth of Puerto Rico, 542 B.R. 322 (1st Cir. 2015).
Franklin California Tax-Free v. Commonwealth of Puerto Rico, 542 B.R. 322 (1st Cir. 2015). “at 953 (codified as amended at 48 U.S.C. § 745 ). This provision has not been amended since 1961, when limits on the amount of municipal debt that could be issued (as a percentage of the municipalities' property valuation) were removed, subject to approval by a vote in the…”
Agnes Wiggins v. United States of Am., Through the Dep't of the Army, 799 F.2d 962 (5th Cir. 1986). “In this case of first impression we join the virtually unanimous holdings and rea-sonings of the other federal Courts of Appeals and recognize that a discretionary functions limitation is implicit in private suits brought against the United States Government under the Suits in…”
Davenport Bank & Trust Co. v. Iowa Dep't of Revenue & Fin., 457 N.W.2d 610 (Iowa 1990). “This exemption is created by 48 U.S.C. § 745 which provides that bonds issued by the government of Puerto Rico shall be exempt from taxation by the government of the United States or by any state.”
Desmond v. United States, 105 F. Supp. 9 (S.D.N.Y. 1952). “The motion to dismiss is granted with respect to any claim for maintenance and cure accruing prior to February 14th, 1950, and denied as to the claim after that .”
Rochester Bank & Trust Co. v. Comm'r of Revenue, 305 N.W.2d 776 (Minn. 1981). “§ 745 (1976) provides: All bonds issued by the Government of Puer-to Rico, or by its authority, shall be exempt from taxation by the Government of the United States, or by the Government of Puerto Rico or any political or municipal subdivision thereof or by any state, territory,…”
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