7 USC 1511 - Tax Exemption

The Corporation, including its franchise, its capital, reserves, and surplus, and its income and property, shall be exempt from all taxation on or after February 16, 1938, imposed by the United States or by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority. A contract of insurance of the Corporation, and a contract of insurance reinsured by the Corporation, shall be exempt from taxation imposed by any State, municipality, or local taxing authority.

(Feb. 16, 1938, ch. 30, title V, §511, 52 Stat. 75; Pub. L. 103–354, title I, §108, Oct. 13, 1994, 108 Stat. 3197.)

Sections:  Previous  1505  1506  1507  1508  1508a  1509  1510  1511  1512  1513  1514  1515  1516  1517  1518  Next

Last modified: October 26, 2015