Title 15, Commerce and TradeRelease 119-73not60
§713a–5 Exemption of Commodity Credit Corporation and Its Obligations From Taxation
Title 15 › Chapter 15— ECONOMIC RECOVERY › Subchapter I— GENERALLY › § 713a–5
Summary
Treats CCC bonds, notes, debentures, and similar debts as government instruments for tax rules. Those obligations and income are exempt from federal, state, municipal, and local taxes, except surtaxes and estate, inheritance, and gift taxes. CCC itself (franchise, capital, reserves, surplus, income) is also tax-exempt, but its real property may be taxed like other real property.
Full Legal Text
Title 15, §713a–5
Commerce and Trade, Source: USLM XML via OLRC
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.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
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 section 1 and 2 of that act, set out as section 713a–1 and 713a–2 of this title, have been repealed and section 3 of that act, set out as section 713a–3 of this title, has been omitted.
Executive Documents
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.
Reference
Citations & Metadata
Citation
15 U.S.C. § 713a–5
Title 15, Commerce and Trade
Last Updated
Apr 3, 2026
Release point: 119-73not60