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Code · BILL · 116th Congress · H.R. 6422 (Introduced in House) — To facilitate efficient investments and financing of infrastructure projects and new job creation through the establi... · Sec. 16

Sec. 16. Exemption from certain laws

91 words·~1 min read·/bill/116/hr/6422/ih/section-16

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Section 504(b) of the Federal Credit Reform Act of 1990 ( 2 U.S.C. 661c(b) ) requiring prior budget authority shall not apply to any contract or loan under this Act. The priority established in favor of the United States by section 3713 of title 31, United States Code, shall not apply with respect to any indebtedness of the Bank. All bonds issued by the Bank, and the interest on or credits with respect to such bonds, shall not be subject to taxation by any State, county, municipality, or local taxing authority.
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Sec. 16
Exemption from certain laws
U.S.C.§ 661c
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