Shown at bottom is the relevant section of the State’s Fiscal Impact Statement (front page shown immediately below) regarding the grandfathering of out-of-state municipal bonds held as of December 31, 2011. I should probably remind you to check with your tax professional. There’s probably something somewhere that says we have to tell you we are not authorized to provide tax advice. Click on the image immediately below to go right to the full document. Once there, use your browser to search for “municipal.” You’ll eventually get to page 10, where the grandfathering is mentioned.