The Central Liquidity Facility, and its franchise, activities, capital reserves, surplus, and income, shall be exempt from all State and local taxation now or hereafter imposed, other than taxes on real property held by the Facility (to the same extent, according to its value, as other similar property held by other persons is taxed).
12 U.S. Code § 1795k - State and local tax exemption
(a) Franchise, activities, etc., of Central Liquidity Facility; exception
(b) Notes, bonds, debentures and other obligations of Central Liquidity Facility; exceptions
Any obligation described in paragraph (1) shall not be exempt from State or local gift, estate, inheritance, legacy, succession, or other wealth transfer taxes.
(c) “State” defined; tax statusFor purposes of this section—
the term “State” includes the District of Columbia; and
taxes imposed by counties or municipalities, or any territory, dependency, or possession of the United States shall be treated as local taxes.
Statutory Notes and Related Subsidiaries