Source: https://www.law.cornell.edu/uscode/text/12/1795k?quicktabs_8=0
Timestamp: 2016-02-11 09:38:17
Document Index: 215246042

Matched Legal Cases: ['§ 1795', '§ 1795', '§ 1795', '§\u202f1795', '§\u202f312', '§\u202f2813', '§\u202f2813']

12 U.S. Code § 1795k - State and local tax exemption | US Law | LII / Legal Information Institute
U.S. Code › Title 12 › Chapter 14 › Subchapter III › § 1795k 12 U.S. Code § 1795k - State and local tax exemption
§ 1795k.
Except as provided in paragraph (2), the notes, bonds, debentures, and other obligations issued on behalf of the Central Liquidity Facility and the income therefrom shall be exempt from all State and local taxation now or hereafter imposed.
Any obligation described in paragraph (1) shall not be exempt from State or local gift, estate, inheritance, legacy, succession, or other wealth transfer taxes.
(c) “State” defined; tax statusFor purposes of this section—
the term “State” includes the District of Columbia; and
taxes imposed by counties or municipalities, or any territory, dependency, or possession of the United States shall be treated as local taxes.
(June 26, 1934, ch. 750, title III, § 312, as added Pub. L. 98–369, div. B, title VIII, § 2813(a)(2), July 18, 1984, 98 Stat. 1206.)
Pub. L. 98–369, div. B, title VIII, § 2813(c), July 18, 1984, 98 Stat. 1207, provided that: “The amendments made by this section [enacting this section and amending section 1795b of this title and section 501 of Title 26, Internal Revenue Code] shall take effect on October 1, 1979.”