single state municipal bond fund(redirected from State Municipal Bond Fund)
Single State Municipal Bond Fund
In the United States, a mutual fund that invests exclusively in municipal bonds issued in a single state. The returns from such a fund are exempt from all federal taxes and all state taxes if the bondholder is a resident of that state. A single state municipal bond fund is attractive to locals and encourages them to invest in the fund. It is particularly important in states such as New York, with large populations, and states with high capital gains taxes, such as Oregon.
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single state municipal bond fund
See double-exempt fund.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.