§ 1490h. Taxation of property held by Secretary

Statutory text

All property subject to a lien held by the United States or the title to which is acquired or held by the Secretary under this subchapter other than property used for administrative purposes shall be subject to taxation by a State, Commonwealth, territory, possession, district, and local political subdivisions in the same manner and to the same extent as other property is taxed: Provided, That no tax shall be imposed or collected on or with respect to any instrument if the tax is based on—

the value of any notes or mortgages or other lien instruments held by or transferred to the Secretary;

any notes or lien instruments administered under this subchapter which are made, assigned, or held by a person otherwise liable for such tax; or

the value of any property conveyed or transferred to the Secretary, whether as a tax on the instrument, the privilege of conveying or transferring, or the recordation thereof; nor shall the failure to pay or collect any such tax be a ground for refusal to record or file such instruments, or for failure to impart notice, or prevent the enforcement of its provisions in any State or Federal court.

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.

1949
Housing and Community Development Act of 1977
Pub. L. 95–128 title V § 512(a) · 91 Stat. 1111
Enacted · 42 U.S.C. § 1490h
July 15, 1949, ch. 338, title V, § 528, as added Pub. L. 95–128, title V, § 512(a), Oct. 12, 1977, 91 Stat. 1142
Source evidence
Code source credit
July 15, 1949, ch. 338, title V, § 528, as added Pub. L. 95–128, title V, § 512(a), Oct. 12, 1977, 91 Stat. 1142
Enacted provision · exact public law section
(a) Title V of the Housing Act of 1949 is amended by adding the following new section at the end thereof: “Sec. 528. All property subject to a lien held by the United States or the title to which is acquired or held by the Secretary under this title other than property used for administrative purposes shall be subject to taxation by a State, Commonwealth, territory, possession, district, and local political subdivisions in the same manner and to the same extent as other property is taxed: Provided, That no tax shall be imposed or collected on or with respect to any instrument if the tax is based on— “(1) the value of any notes or mortgages or other lien instruments held by or transferred to the Secretary; “(2) any notes or lien instruments administered under this title which are made, assigned, or held by a person otherwise liable for such tax; or “(3) the value of any property conveyed or transferred to the Secretary, whether as a tax on the instrument, the privilege of conveying or transferring, or the recordation thereof; nor shall the failure to pay or collect any such tax be a ground for refusal to record or file such instruments, or for failure to impart notice, or prevent the enforcement of its provisions in any State or Federal court.”.
1984
Housing and Community Development Technical Amendments Act of 1984
Pub. L. 98–479 title II § 204(c)(3) · 98 Stat. 2218
Substituted · 42 U.S.C. § 1490h
Pub. L. 98–479 substituted “property held by Secretary” for “Farmers Home Administration-held property” in section catchline
Source evidence
Code amendment note
Pub. L. 98–479 substituted “property held by Secretary” for “Farmers Home Administration-held property” in section catchline.
Enacted provision · exact public law section
(3) The Housing Act of 1949 is amended by inserting the following section heading for section 528: “taxation of property held by 42 USC 14906. secretary”.

2 of 2 references resolved to an enrolled provision

Editorial Notes

Amendments

1984—Pub. L. 98–479 substituted “property held by Secretary” for “Farmers Home Administration-held property” in section catchline.

Statutory Notes and Related Subsidiaries

Effective Date

Pub. L. 95–128, title V, § 512(c), Oct. 12, 1977, 91 Stat. 1142, provided that: “The amendment made by subsection (a) [enacting this section] shall become effective as of January 1, 1977.”

Refund of Tax Payments Prior to October 12, 1977, Barred; Federal Officers or Employees Not Liable for Such Payments

Pub. L. 95–128, title V, § 512(b), Oct. 12, 1977, 91 Stat. 1142, provided that: “Notwithstanding any other provision of law, no State, Commonwealth, territory, possession, district, or local political subdivision which has received, prior to the date of enactment of this Act [Oct. 12, 1977], tax payments from the Department of Agriculture based on property held by the Farmers Home Administration shall be liable for, or be obligated to refund, the amount of any such payment, which, if it had been made after the date of enactment of this Act, would have been authorized by the provisions of section 528 of the Housing Act of 1949 [this section], and no officer or employee of the United States shall incur or be under any liability by reason of having made or authorized any such payments.”

Credits

1949–1984 · 2 acts

1949July 15, 1949, ch. 338, title V, § 528, as added Pub. L. 95–128, title V, § 512(a), Oct. 12, 1977, 91 Stat. 1142
1984amended Pub. L. 98–479, title II, § 204(c)(3), Oct. 17, 1984, 98 Stat. 2233.

Show as published

(July 15, 1949, ch. 338, title V, § 528, as added Pub. L. 95–128, title V, § 512(a), Oct. 12, 1977, 91 Stat. 1142; amended Pub. L. 98–479, title II, § 204(c)(3), Oct. 17, 1984, 98 Stat. 2233.)