Section 24991 Of Article 4.5. Capital Gains And Losses From California Revenue And Taxation Code >> Division 2. >> Part 11. >> Chapter 15. >> Article 4.5.

. 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.