12 USC 2278b-10: Exemption from taxation
Text contains those laws in effect on January 7, 2011
From Title 12-BANKS AND BANKINGCHAPTER 23-FARM CREDIT SYSTEMSUBCHAPTER VI-ASSISTANCE TO FARM CREDIT SYSTEMPart B-Financial Assistance Corporation
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§2278b–10. Exemption from taxation
(a) Assets
The Financial Assistance Corporation, and the capital, reserves, and surplus thereof, and the income derived therefrom, shall be exempt from Federal, State, municipal, and local taxation, except taxes on real estate held by the Financial Assistance Corporation to the same extent, according to its value, as other similar property held by other persons is taxed.
(b) Obligations
The notes, bonds, debentures, and other obligations issued by the Financial Assistance Corporation shall be accorded the same tax treatment as System-wide obligations.
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