
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: 15USC713a-5]

 
                      TITLE 15--COMMERCE AND TRADE
 
                      CHAPTER 15--ECONOMIC RECOVERY
 
                         SUBCHAPTER I--GENERALLY
 
Sec. 713a-5. Exemption of Commodity Credit Corporation and its 
        obligations from taxation
        
    Bonds, notes, debentures, and other similar obligations issued by 
the Commodity Credit Corporation under the provisions of sections 713a-1 
to 713a-5 of this title shall be deemed and held to be instrumentalities 
of the Government of the United States, and as such they and the income 
derived therefrom shall be exempt from Federal, State, municipal, and 
local taxation (except surtaxes, estate, inheritance, and gift taxes). 
The Commodity Credit Corporation, including its franchise, its capital, 
reserves, and surplus, and its income shall be exempt from all taxation 
imposed by the United States, by any Territory, dependency, or 
possession thereof, or by any State, county, municipality, or local 
taxing authority; except that any real property of the Commodity Credit 
Corporation 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.

(Mar. 8, 1938, ch. 44, Sec. 5, 52 Stat. 108.)

                       References in Text

    Sections 713a-1 to 713a-5, referred to in text, was in the original 
``this Act''. Section 1 and 2 of that act, set out as sections 713a-1 
and 713a-2 of this title, have been repealed and section 3 of that act, 
set out as section 713a-3 of this title, has been omitted.

                  Exceptions From Transfer of Functions

    For exception of functions of corporations of Department of 
Agriculture from transfer of functions to Secretary of Agriculture by 
Reorg. Plan No. 2 of 1953, see Exceptions From Transfer of Functions 
note set out under section 712a of this title.
