
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC531]

 
                       TITLE 12--BANKS AND BANKING
 
                           CHAPTER 4--TAXATION
 
                   SUBCHAPTER I--FEDERAL RESERVE BANKS
 
Sec. 531. Exemption from taxation

    Federal reserve banks, including the capital stock and surplus 
therein and the income derived therefrom, shall be exempt from Federal, 
State, and local taxation, except taxes upon real estate.

(Dec. 23, 1913, ch. 6, Sec. 7(c), 38 Stat. 258; Mar. 3, 1919, ch. 101, 
Sec. 1, 40 Stat. 1314; Pub. L. 103-66, title III, Sec. 3002(c)(2), Aug. 
10, 1993, 107 Stat. 338.)

                          Codification

    Section is comprised of subsec. (c) [formerly third undesignated 
par.] of section 7 of act Dec. 23, 1913. Subsec. (a) of section 7 and 
subsec. (b) [enacted by Pub. L. 106-113, div. B, Sec. 1000(a)(5) [title 
III, Sec. 302(2)], Nov. 29, 1999, 113 Stat. 1536, 1501A-304] of section 
7 are classified to section 289 of this title. Another subsec. (b) of 
section 7 is classified to section 290 of this title.


                               Amendments

    1993--Pub. L. 103-66 inserted section catchline.

                  Section Referred to in Other Sections

    This section is referred to in title 26 section 139.
