1997 U.S. Code
Title 12 - BANKS AND BANKING
CHAPTER 4 - TAXATION
SUBCHAPTER I - FEDERAL RESERVE BANKS
Sec. 531 - Exemption from taxation
View Metadata| Publication Title | United States Code, 1994 Edition, Supplement 3, Title 12 - BANKS AND BANKING |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 12 - BANKS AND BANKING CHAPTER 4 - TAXATION SUBCHAPTER I - FEDERAL RESERVE BANKS Sec. 531 - Exemption from taxation |
| Contains | section 531 |
| Date | 1997 |
| Laws in Effect as of Date | January 26, 1998 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Dec. 23, 1913, ch. 6, §7(c), 38 Stat. 258; Mar. 3, 1919, ch. 101, §1, 40 Stat. 1314; Pub. L. 103-66, title III, §3002(c)(2), Aug. 10, 1993, 107 Stat. 338. |
| Statutes at Large References | 38 Stat. 258 40 Stat. 1314 107 Stat. 338 |
| Public Law References | Public Law 103-66 |
§531. Exemption from taxation
Federal reserve banks, including the capital stock and surplus therein and the income derived therefrom, shall be exempt from Federal, State, and local taxation, except taxes upon real estate.
(Dec. 23, 1913, ch. 6, §7(c), 38 Stat. 258; Mar. 3, 1919, ch. 101, §1, 40 Stat. 1314; Pub. L. 103–66, title III, §3002(c)(2), Aug. 10, 1993, 107 Stat. 338.)
CodificationSection is comprised of subsec. (c) [formerly third undesignated par.] of section 7 of act Dec. 23, 1913. Subsecs. (a) and (b) of section 7 are classified to sections 289 and 290, respectively, of this title.
Amendments1993—Pub. L. 103–66 inserted section catchline.
Cross ReferencesUnited States obligations and evidences of ownership as subject to Federal taxation, see section 3124 of Title 31, Money and Finance.
Section Referred to in Other SectionsThis section is referred to in title 26 section 137.
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