15-U.S.C.-713A-5
§713A-5 – §713A-5. Exemption of Commodity Credit Corporation and Its Obligations From Taxation
Pathway
Title 15 > Chapter 15 > Subchapter I > Section 713a-5
Details
- Reference: Section 713a-5
- Legend: §713A-5 – §713A-5. Exemption of Commodity Credit Corporation and Its Obligations From Taxation
- USCode Year: 2013
Provision Content
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.
(Mar. 8, 1938, ch. 44, §5, 52 Stat. 108.)
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 Section 1 and 2 of that act, set out as sections 713a–1 and 713a–2 of this title, have been repealed and section 3 of that act, set out as section 713a–3 of this title, has been omitted.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 Functions
For 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.
U.S. Encyclopedia of Law Coverage
15-U.S.C.-697B in the Legal Encyclopedia: Trade Law
In this entry about 15-U.S.C.-697B, find legal reference material, bibliographies and premiere content related to trade law in the American Encyclopedia of Law, presenting a comprehensive view of the United States trade law-specific issues, written by authorities in the field.
15-U.S.C.-713A-3 in the Legal Encyclopedia: Economic Recovery
In this entry about 15-U.S.C.-713A-3, find legal reference material, bibliographies and premiere content related to economic recovery in the American Encyclopedia of Law, presenting a comprehensive view of the United States economic recovery-specific issues, written by authorities in the field.
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