Title 12, Banks and BankingRelease 119-102
§2279g Transactions to Accomplish Mergers Exempt From Certain State Taxes
Title 12 › CHAPTER 23 — FARM CREDIT SYSTEM › SUBCHAPTER VII — RESTRUCTURING OF SYSTEM INSTITUTIONS › Part E — Taxation of Merger Transactions › § 2279g
Summary
State and local governments must not treat a merger or consolidation of the Farm Credit System under this subchapter or Title IV of the 1987 Agricultural Credit Act as a change of ownership for property tax or reassessment purposes.
Full Legal Text
Title 12, §2279g
Banks and Banking, Source: USLM XML via OLRC
No State or political subdivision thereof may treat the merger or consolidation of two or more institutions of the Farm Credit System under this subchapter or title IV of the Agricultural Credit Act of 1987 as resulting in a change of ownership of any property owned by any of such merging or consolidating institutions, for purposes of any law of such State or political subdivision providing for reassessment of property on the occurrence of a change of ownership or imposing a tax on the ownership or transfer of property.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
References in Text
The Agricultural Credit Act of 1987, referred to in text, is Pub. L. 100–233, Jan. 6, 1988, 101 Stat. 1568. Title IV of that Act amended this chapter. For complete classification of this Act to the Code see
Short Title
of 1988 Amendment note set out under section 2001 of this title and Tables.
Statutory Notes and Related Subsidiaries
Effective Date
Section effective as if enacted immediately after enactment of Pub. L. 100–233, which was approved Jan. 6, 1988, see section 1001(a) of Pub. L. 100–399, set out as an
Effective Date
of 1988 Amendment note under section 2002 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 2279g
Title 12, Banks and Banking
Last Updated
Aug 21, 2026
Release point: 119-102