Title 12 — Banks and BankingRelease 119-73
§2277a–12 Exemption from taxation
Title 12 › Chapter CHAPTER 23— - FARM CREDIT SYSTEM › Subchapter SUBCHAPTER V— - FARM CREDIT ADMINISTRATION ORGANIZATION › Part Part E— - Farm Credit System Insurance Corporation › § 2277a–12
Summary
Federal, state, and local governments cannot tax the Corporation or its franchise, capital, reserves, surplus, or income. However, any land or buildings the Corporation owns must be taxed by states and localities the same way and to the same extent as other real property, based on their value.
Full Legal Text
Title 12, §2277a–12
Banks and Banking — Source: USLM XML via OLRC
Notwithstanding any other provision of law, the Corporation, including its franchise, and its capital, reserves, surplus, and income, shall be exempt from all taxation imposed by the United States, or by any State, county, municipality, or local taxing authority, except that any real property of the Corporation shall be subject to State, county, municipal, and local taxation to the same extent according to its value as other real property is taxed.
Reference
Citations & Metadata
Citation
12 U.S.C. § 2277a–12
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73