12 U.S.C. § 2134
Taxation
United States · Title 12 — BANKS AND BANKING · Status: effective
Cite this
- Citation
- 12 U.S.C. § 2134, Taxation, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/438172
- Permanent ID
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Full text
Each bank for cooperatives and its obligations are instrumentalities of the United States and as such any and all notes, debentures, and other obligations issued by such bank shall be exempt, both as to principal and interest from all taxation (except surtaxes, estate, inheritance, and gift taxes) now or hereafter imposed by the United States or any State, territorial, or local taxing authority, except that interest on such obligations shall be subject to Federal income taxation in the hands of the holder.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone. The law that originally enacted this section predates the public laws loaded here, so only later amendments are listed.
- Farm Credit Amendments Act of 1985House: no recorded tallySenate: no recorded tally
- Agricultural Credit Act of 1987House: no recorded tallySenate: no recorded tally