
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC1490h]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
       CHAPTER 8A--SLUM CLEARANCE, URBAN RENEWAL, AND FARM HOUSING
 
                      SUBCHAPTER III--FARM HOUSING
 
Sec. 1490h. Taxation of property held by Secretary

    All property subject to a lien held by the United States or the 
title to which is acquired or held by the Secretary under this 
subchapter other than property used for administrative purposes shall be 
subject to taxation by a State, Commonwealth, territory, possession, 
district, and local political subdivisions in the same manner and to the 
same extent as other property is taxed: Provided, That no tax shall be 
imposed or collected on or with respect to any instrument if the tax is 
based on--
        (1) the value of any notes or mortgages or other lien 
    instruments held by or transferred to the Secretary;
        (2) any notes or lien instruments administered under this 
    subchapter which are made, assigned, or held by a person otherwise 
    liable for such tax; or
        (3) the value of any property conveyed or transferred to the 
    Secretary, whether as a tax on the instrument, the privilege of 
    conveying or transferring, or the recordation thereof; nor shall the 
    failure to pay or collect any such tax be a ground for refusal to 
    record or file such instruments, or for failure to impart notice, or 
    prevent the enforcement of its provisions in any State or Federal 
    court.

(July 15, 1949, ch. 338, title V, Sec. 528, as added Pub. L. 95-128, 
title V, Sec. 512(a), Oct. 12, 1977, 91 Stat. 1142; amended Pub. L. 98-
479, title II, Sec. 204(c)(3), Oct. 17, 1984, 98 Stat. 2233.)


                               Amendments

    1984--Pub. L. 98-479 substituted ``property held by Secretary'' for 
``Farmers Home Administration-held property'' in section catchline.


                             Effective Date

    Section 512(c) of Pub. L. 95-128 provided that: ``The amendment made 
by subsection (a) [enacting this section] shall become effective as of 
January 1, 1977.''


   Refund of Tax Payments Prior to October 12, 1977, Barred; Federal 
           Officers or Employees Not Liable for Such Payments

    Section 512(b) of Pub. L. 95-128 provided that: ``Notwithstanding 
any other provision of law, no State, Commonwealth, territory, 
possession, district, or local political subdivision which has received, 
prior to the date of enactment of this Act [Oct. 12, 1977], tax payments 
from the Department of Agriculture based on property held by the Farmers 
Home Administration shall be liable for, or be obligated to refund, the 
amount of any such payment, which, if it had been made after the date of 
enactment of this Act, would have been authorized by the provisions of 
section 528 of the Housing Act of 1949 [this section], and no officer or 
employee of the United States shall incur or be under any liability by 
reason of having made or authorized any such payments.''
