Vadnais, et al. v. Federal National Mortgage, et al., No. 13-2733 (8th Cir. 2014)
Annotate this CaseSwift County filed suit against Fannie Mae, Freddie Mac, and FHFA, alleging that the federal agencies violated state law by failing to pay taxes on the transfers of deeds to real property. The court affirmed the district court's grant of the federal agencies' motion to dismiss because the Exemption Statutes, 12 U.S.C. 1723a(c)(2) and 12 U.S.C. 1452(e), established an exemption from all state taxation. The court concluded that the Exemption Statutes are a valid exercise of Congress's power under the Commerce Clause and the federal agencies are federal instrumentalities, not privately-held corporations.
Court Description: Civil case. In action alleging Fannie Mae and Freddie Mac had not paid deed transfer taxes owed in Minnesota, the district court did not err in finding the federal agencies were exempt from the taxes pursuant to provisions of the federal statutes setting forth their charters; these exemption statutes are a valid exercise of Congress' Commerce Clause powers; Fannie Mae and Freddie Mac are federal instrumentalities.
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