2020 US Code
Title 15 - Commerce and Trade
Chapter 15 - Economic Recovery
Subchapter I - Generally
Sec. 713a-5 - Exemption of Commodity Credit Corporation and its obligations from taxation
| 15 U.S.C. § 713a-5 (2020) |
| §713a–5. Exemption of Commodity Credit Corporation and its obligations from taxation |
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Bonds, notes, debentures, and other similar obligations issued by the Commodity Credit Corporation under the provisions of sections 713a–1 to 713a–5 of this title shall be deemed and held to be instrumentalities of the Government of the United States, and as such they and the income derived therefrom shall be exempt from Federal, State, municipal, and local taxation (except surtaxes, estate, inheritance, and gift taxes). The Commodity Credit Corporation, including its franchise, its capital, reserves, and surplus, and its income shall be exempt from all taxation imposed by the United States, by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority; except that any real property of the Commodity Credit Corporation shall be subject to State, Territorial, county, municipal, or local taxation to the same extent according to its value as other real property is taxed. |
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(Mar. 8, 1938, ch. 44, §5, 52 Stat. 108.) |
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REFERENCES IN TEXT
Sections 713a–1 to 713a–5, referred to in text, was in the original "this Act". Section 1 and 2 of that act, set out as sections 713a–1 and 713a–2 of this title, have been repealed and section 3 of that act, set out as section 713a–3 of this title, has been omitted. EXCEPTIONS FROM TRANSFER OF FUNCTIONSFor exception of functions of corporations of Department of Agriculture from transfer of functions to Secretary of Agriculture by Reorg. Plan No. 2 of 1953, see Exceptions From Transfer of Functions note set out under section 712a of this title. |
| United States Code, 2018 Edition, Supplement 2, Title 15 - COMMERCE AND TRADE |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 15 - COMMERCE AND TRADE CHAPTER 15 - ECONOMIC RECOVERY SUBCHAPTER I - GENERALLY Sec. 713a-5 - Exemption of Commodity Credit Corporation and its obligations from taxation |
| section 713a-5 |
| 2020 |
| January 13, 2021 |
| No |
| standard |
| 52 Stat. 108 |
