§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 ; Aug. 10, 1993, Pub. L. 103–66, title III, §3002(c)(2), 107 Stat. 338 .)

Codification

Section 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.

Amendments

1993-Pub. L. 103–66 inserted section catchline.

Cross References

United 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 Sections

This section is referred to in title 26 section 137.