Source: http://www4.law.cornell.edu/uscode/text/12/2290?quicktabs_8=1
Timestamp: 2013-12-10 10:35:52
Document Index: 86924056

Matched Legal Cases: ['§ 2290', '§ 2290', '§ 2290', '§ 11', 'art 810', 'art 811']

12 USC § 2290 - Exemptions | Title 12 - Banks and Banking | U.S. Code | LII / Legal Information Institute
USC › Title 12 › Chapter 24 › § 2290	prevnext
12 USC § 2290 - Exemptions
Federal, State, and local taxes The Bank, its property, its franchise, capital, reserves, surplus, security holdings, and other funds, and its income shall be exempt from all taxation now or hereafter imposed by the United States or by any State or local taxing authority; except that (1)
any real property and any tangible personal property of the Bank shall be subject to Federal, State, and local taxation to the same extent according to its value as other such property is taxed, and (2)
any obligations issued by the Bank shall be subject to Federal taxation to the same extent as the obligations of private corporations are taxed.
Exempt securities All obligations issued by the Bank pursuant to this chapter shall be deemed to be exempted securities within the meaning of sections 77c
(a)(2), 77ddd
(a)(4), and 78c
(a)(12) of title 15.
Budget status of Federal agencies; restrictions Nothing herein shall affect the budget status of the Federal agencies selling obligations to the Bank under section 2285
(a) of this title, or the method of budget accounting for their transactions. The receipts and disbursements of the Bank in the discharge of its functions shall not be included in the totals of the budget of the United States Government and shall be exempt from any general limitation imposed by statute on expenditures and net lending (budget outlays) of the United States.
(Pub. L. 93–224, § 11,Dec. 29, 1973, 87 Stat. 940.)
This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.12 CFR - Title 12—Banks and Banking12 CFR Part 810 - FEDERAL FINANCING BANK BILLS12 CFR Part 811 - BOOK-ENTRY PROCEDURE FOR FEDERAL FINANCING BANK SECURITIES