Chapter 512. Providing certain exemptions from taxation for Treasury bills
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CHAP. 512.— An Act Providing certain exemptions from taxation for Treasury bills. June 17, 1930.[[H. R. 1244](/us/bill/71/hr/1244).][[Public, No. 376](/us/pl/71/376).] *Be it enacted by the Senate and House of Representatives of the United, States of America in Congress assembled*, That section 5 of Second Liberty Loan Act.*Ante*, p. 20, amended.the Second Liberty Bond Act, as amended (Public, Numbered 11, Seventy-first Congress, June 17, 1929), is amended by adding at the end thereof a new subdivision to read as follows:
" “(d) Any gain from the sale or other disposition of Treasury bills Tax exemption of gain from sale, etc., of Treasury bills.issued hereunder (after the date upon which this subdivision becomes law) shall be exempt from all taxation (except estate or inheritance taxes) now or hereafter imposed by the United States, any State, or any of the possessions of the United States, or by any local taxing authority; and no loss from the sale or other disposition of such Loss on sale not allowed as deduction on taxes.Treasury bills shall be allowed as a deduction, or otherwise recognized, for the purposes of any tax now or hereafter imposed by the United States or any of its possessions.
” " Approved, June 17, 1930.