7 U.S.C. § 1511

Tax exemption

The Corporation, including its franchise, its capital, reserves, and surplus, and its income and property, shall be exempt from all taxation on or after February 16, 1938 , imposed by the United States or by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority. A contract of insurance of the Corporation, and a contract of insurance reinsured by the Corporation, shall be exempt from taxation imposed by any State, municipality, or local taxing authority.

( Feb. 16, 1938, ch. 30 , title V, § 511, 52 Stat. 75 ; Pub. L. 103–354, title I, § 108 , Oct. 13, 1994 , 108 Stat. 3197 .)