12 U.S.C. § 2277a–12 — Exemption from taxation
submitted 38 years ago by Pub. L. 92-181 to r/title-12-BANKS-AND-BANKING · 71 words · no verdicts yet
The Corporation, its franchise, capital, reserves, surplus, and income are exempt from government taxes. Its real property may still be taxed like other real property.
Even if another law says otherwise,, the Corporation*, including its franchise, and its capital, reserves, surplus, and income, must be exempt from all taxation imposed by the United States, or by any State*, county, municipality, or local taxing authority, except that any real property of the Corporation must be subject to State, county, municipal, and local taxation to the same extent according to its value as other real property is taxed.
Notwithstanding any other provision of law, the Corporation*, including its franchise, and its capital, reserves, surplus, and income, shall be exempt from all taxation imposed by the United States, or by any State*, county, municipality, or local taxing authority, except that any real property of the Corporation shall be subject to State, county, municipal, and local taxation to the same extent according to its value as other real property is taxed.
Source credit: (Pub. L. 92–181, title V, § 5.63, as added Pub. L. 100–233, title III, § 302, Jan. 6, 1988, 101 Stat. 1618.)
- 1988Enacted · Pub. L. 92-181 · 101 Stat. 1618
A history note hasn’t been published yet. The record shows enactment by Pub. L. 92-181 on 1988-01-06.
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