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Title 12 — Banks and Banking

Chapter 4 — Taxation

§ 531. Exemption from taxation

Statutory 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.

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. Pub. L. 63–6 § 7(c) · 38 Stat. 103

    Enacted · 12 U.S.C. § 531

    Dec. 23, 1913, ch. 6, § 7(c), 38 Stat. 258

    Source evidence

    Code source credit
    Dec. 23, 1913, ch. 6, § 7(c), 38 Stat. 258

    Enacted provision · exact public law section
    Sec. 5. That for the purposes of this Act the arbitrators herein provided for, or either of them, shall have power to administer oaths and affirmations, sign subpoenas, require the attendance and testimony of witnesses, and the production of such books, papers, contracts, agreements, and documents material to a just determination of the matters under investigation as may be ordered by the court; and may invoke the aid of the United States courts to compel witnesses to attend and testify and to produce such books, papers, contracts, agreements, and documents to the same extent and under the Vol. 24, p. 383; Vol. 25, p. 858; Vol. 26, p. 743. same conditions and penalties as is provided for in the Act to regulate commerce, approved February fourth, eighteen hundred and eighty-seven, and the amendments thereto.

  2. Omnibus Budget Reconciliation Act of 1993

    Pub. L. 103–66 title III § 3002(c)(2) · 107 Stat. 312

    Inserted · 12 U.S.C. § 531

    Pub. L. 103–66 inserted section catchline

    Source evidence

    Code amendment note
    Pub. L. 103–66 inserted section catchline.

    Enacted provision · exact public law section
    (2) The last undesignated paragraph of section 7 of the Federal Reserve Act (12 U.S.C. 531) is amended by striking “Federal reserve banks” and inserting “(c) Exemption From Taxation.—Federal reserve banks”.

2 of 2 references resolved to an enrolled provision

Editorial Notes

Codification

Section is comprised of subsec. (c) [formerly third undesignated par.] of section 7 of act . Subsec. (a) of section 7 and subsec. (b) [enacted by Pub. L. 106–113, div. B, § 1000(a)(5) [title III, § 302(2)], , 113 Stat. 1536, 1501A–304] 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.

Amendments

1993—Pub. L. 103–66 inserted section catchline.

Credits

1913–1993 · 3 acts
  1. 1913Dec. 23, 1913, ch. 6, § 7(c), 38 Stat. 258
  2. 1919Mar. 3, 1919, ch. 101, § 1, 40 Stat. 1314
  3. 1993Pub. L. 103–66, title III, § 3002(c)(2), , 107 Stat. 338.
Show as published

(Dec. 23, 1913, ch. 6, § 7(c), 38 Stat. 258; Mar. 3, 1919, ch. 101, § 1, 40 Stat. 1314; Pub. L. 103–66, title III, § 3002(c)(2), , 107 Stat. 338.)

Parsed from the official OLRC USLM XML in data/usc_all/usc12.xml · release point 119-108 · OLRC build 2026-07-23

USLM identifier /us/usc/t12/s531