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INCENTIVES - INDUSTRIALREVENUEBONDS <br />Other Types of Bond Issuances <br />• Tax Exempt (Exempt Facility /Solid Waste Disposal) — These bonds are <br />used to finance solid waste disposal facilities which include facilities <br />for the collection, storage, treatment, utilization, processing or final <br />disposal of solid waste (typically, either private landfills or solid waste <br />disposal from manufacturing facilities.) Volume cap is required, but <br />there is no restriction on amount of issuance in any jurisdiction or <br />nationwide. The interest paid on these bonds is exempt from federal <br />and state income tax. <br />• Taxable (Industrial or Pollution Control Facilities)— In North Carolina <br />taxable bonds can be issued to finance industrial or solid pollution <br />control facilities that do not meet the requirements for tax exemption <br />under federal law. These bonds are not exempt from federal tax, but are <br />exempt from state income tax. The taxable bond interest rate is more <br />costly to the borrower. There is no limit on bond account <br />North Carolina Department of Commerce Incentives 1 19 <br />