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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 531 Exemption from taxation us united_states_code code_section 12 BANKS AND BANKING 4 TAXATION 531 12 U.S.C. § 531 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s531 data/legal/raw/us/code/title-12/usc12.xml eaaad6ff373246c9b1f6be579a43bc839348429ddcf0b9a4a0afbd14b11305de e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa 22239008b71ebe886b8ec1117ba647b955321cdd5b53e385dcc8b3153f1e62de 2026-07-04 official
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12 U.S.C. § 531 - Exemption from taxation

Text

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, § 7(c), 38 Stat. 258; Mar. 3, 1919, ch. 101, § 1, 40 Stat. 1314; Pub. L. 10366, title III, § 3002(c)(2), Aug. 10, 1993, 107 Stat. 338.)

Notes

Editorial Notes

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. 106113, div. B, § 1000(a)(5) [title III, § 302(2)], Nov. 29, 1999, 113 Stat. 1536, 1501A304] 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.

Amendments1993—Pub. L. 10366 inserted section catchline.