Word: exempt
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Dates: during 1970-1979
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Saved Car. Though Congress has the constitutional authority to establish uniform laws on bankruptcies, the states are permitted to exempt certain holdings from being seized and sold to satisfy creditors. California is one of the most liberal; it allows debtors to keep up to $20,000 equity in a house, $500 in a car, most household goods, tools of trade, $1,000 in a savings and loan association account and $1,500 in a credit union account. Moreover, under a ruling won by Slate a decade ago, Californians may convert any funds or assets into exempt categories before filing...
...power plant, the University went ahead with plans to get Boston Redevelopment Authority (BRA) approval for the project. MASCO needed this approval so it could take advantage of a state law which aids developers of "blighted" land in urban renewal areas. This law makes the developer eligible for tax-exempt building if the applicant can prove to the BRA board that the land is blighted and will be benefited by renewal. In return, the applicant has to pay some taxes to the city a percentage of the project's income...
...bill, now in the Senate Ways and Mcans Committee, which would exempt college students from paying the meal tax of their board bills will "probably not pass the Legislature." Kevin Jones, an aide to Massachusetts State Sen. Walter Boverini, said yesterday...
...called the hearing to determine whether Mission Park Associates--the developing entity comprised of the Roxbury Tenants of Harvard and two private developers--should be granted a permit that allows for tax exempt construction...
...money it needs. Today debt service amounts to a staggering $1.9 billion a year, or 17% of the budget. With less than 4% of the U.S. population, New York has been selling 18% of all municipal bonds on the U.S. market and 39% of all short-term tax-exempt notes. Says Jackson Phillips, senior vice president of Moody's Investors Service, Inc.: "A lot of cities are just not coming to market. They're postponing things. But New York keeps coming...