
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC2278b-10]

 
                       TITLE 12--BANKS AND BANKING
 
                     CHAPTER 23--FARM CREDIT SYSTEM
 
             SUBCHAPTER VI--ASSISTANCE TO FARM CREDIT SYSTEM
 
                Part B--Financial Assistance Corporation
 
Sec. 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.

(Pub. L. 92-181, title VI, Sec. 6.30, as added Pub. L. 100-233, title 
II, Sec. 201, Jan. 6, 1988, 101 Stat. 1604.)
