§ 2098. Taxation
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/usc/title-12/section-2098A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Each Federal land bank association 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 a Federal land bank association to the same extent, according to its value, as other similar property held by other persons is taxed. The mortgages held by the Federal land bank associations and the notes, bonds, debentures, and other obligations issued by the associations shall be considered and held to be instrumentalities of the United States and, as such, they and the income therefrom shall be exempt from all Federal, State, municipal, and local taxation, other than Federal income tax liability of the holder thereof under the Public Debt Act of 1941 (31 U.S.C. 3124).
(Pub. L. 92–181, title II, § 2.16, formerly § 2.17, as added Pub. L. 100–233, title IV, § 401, Jan. 6, 1988, 101 Stat. 1637; renumbered § 2.16 and amended Pub. L. 100–399, title IV, § 401(w), (x), Aug. 17, 1988, 102 Stat. 999.)
Connections6 cite this · traces to 3
Cited by 6 sections · top 5
statutes-at-large
- Public Law 99–205To amend the Farm Credit Act of 1971, to restructure and reform the Farm Credit System, and for other purposes
- Public Law 100–399To make technical corrections to the agricultural credit laws
- Public Law 100–233To provide credit assistance to farmers, to strengthen the Farm Credit System, to facilitate the establishment of secondary markets for agricultural loans, and for other purposes
U.S. Code
statute-compilations
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17 references not yet in our index
- Pub. L. 92–181, title II, § 2
- Pub. L. 100–233, title IV, § 401
- 101 Stat. 1637
- Pub. L. 100–399, title IV, § 401(w)
- 102 Stat. 999
- 85 Stat. 602
- Pub. L. 99–205, title II, § 205(e)(16)
- 99 Stat. 1705
- Pub. L. 100–233, title VIII, § 805(j)
- 101 Stat. 1715
- Pub. L. 100–233, § 401
- Pub. L. 92–181
- Pub. L. 100–399, § 401(x)
- Pub. L. 100–399
- section 401 of Pub. L. 100–233
- section 1001(b) of Pub. L. 100–399
- 101 Stat. 1622
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§ 2098
Taxation
Stat.×4
Stat. Comp.×1
U.S.C.×1
Pub. L.Pub. L. 92–181, title II, § 2
Pub. L.Pub. L. 100–233, title IV, § 401
Stat.101 Stat. 1637
Pub. L.Pub. L. 100–399, title IV, § 401(w)
Stat.102 Stat. 999
Cites 20 · showing 8Cited by 6 across 3 sources