§ 2134. Taxation

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1971

   Farm Credit Act of 1971

   Pub. L. 92–181 title III § 3 · 85 Stat. 583

   Enacted · 12 U.S.C. § 2134

   Pub. L. 92–181, title III, § 3.13, Dec. 10, 1971, 85 Stat. 608

   Source evidence

   Code source credit
   Pub. L. 92–181, title III, § 3.13, Dec. 10, 1971, 85 Stat. 608

   Enacted provision · exact public law section
   (3) Make contracts.

2. 1985

   Farm Credit Amendments Act of 1985

   Pub. L. 99–205 title II § 205(e)(10) · 99 Stat. 1678

   Struck · 12 U.S.C. § 2134

   Pub. L. 99–205 struck out last two sentences relating to exemption of banks for cooperatives and their property, franchises, capital, reserves, surplus, other funds, and income from Federal and non-Federal taxation except for Federal income taxation of interest on obligations of such banks and for Federal and non-Federal taxation of real and tangible personal property of such banks to same extent as similar property is taxed, and making such exemption provisions applicable only for any year or part thereof in which stock in such banks was held by the Governor of the Farm Credit Administration

   Source evidence

   Code amendment note
   Pub. L. 99–205 struck out last two sentences relating to exemption of banks for cooperatives and their property, franchises, capital, reserves, surplus, other funds, and income from Federal and non-Federal taxation except for Federal income taxation of interest on obligations of such banks and for Federal and non-Federal taxation of real and tangible personal property of such banks to same extent as similar property is taxed, and making such exemption provisions applicable only for any year or part thereof in which stock in such banks was held by the Governor of the Farm Credit Administration.

   Enacted provision · exact public law section
   (10) in section 2.10— (A) striking out “the Governor of” in the sixth sentence; (B) striking out “Governor” in the seventh sentence and inserting in lieu thereof “Farm Credit Administration”; (C) striking out “Governor” in the eighth sentence and inserting in lieu thereof “Farm Credit Administration”; and (D) in the ninth sentence— (i) striking out “Governor” and inserting in lieu thereof “Farm Credit Administration”; and (ii) striking out “him” and “he” and inserting in lieu thereof in both places “Farm Credit Administration”;

   Effective date note
   Amendment by Pub. L. 99–205 effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as a note under section 2001 of this title.

3. 1988

   Agricultural Credit Act of 1987

   Pub. L. 100–233 title VIII § 805(p) · 101 Stat. 1568

   Inserted · 12 U.S.C. § 2134

   Pub. L. 100–233 inserted before period at end “, except that interest on such obligations shall be subject to Federal income taxation in the hands of the holder”

   Source evidence

   Code amendment note
   Pub. L. 100–233 inserted before period at end “, except that interest on such obligations shall be subject to Federal income taxation in the hands of the holder”.

   Enacted provision · exact public law section
   (p) 12 USC 2134. Section 3.13 is amended by inserting “, except that interest on such obligations shall be subject to Federal income taxation in the hands of the holder” before the period at the end.

3 of 3 references resolved to an enrolled provision