Code · BILL · 116th Congress · H.R. 7231 (Introduced in House) — To establish the Infrastructure Bank for America as a corporation to serve as a lender for and investor in infrastruc... · Sec. 8

Sec. 8. Holding Company and Bank exemption from taxation

100 words·~1 min read·/bill/116/hr/7231/ih/section-8

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective for taxable years ending on or after the date of enactment of this Act, the Holding Company and the Bank, including franchises, capital, reserves, surplus, advances, and income of the Holding Company or Bank shall be exempt from all taxation imposed by the United States, by any territory, dependency, or possession thereof, or by any State, county, municipal, or local taxing authority, except that any real property of the Holding Company and the Bank 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.