Us Code § 24908 - Transfer taxes and levies and recording charges
Full text of Us Code United States Code § 24908 — Transfer taxes and levies and recording charges, with citation guidance and answers to common questions.
§ 24908. Transfer taxes and levies and recording charges
A transfer of an interest in rail property under this chapter is exempt from a tax or levy related to the transfer that is imposed by the United States Government, a State, or a political subdivision of a State. On payment of the appropriate and generally applicable charge for the service performed, a transferee or transferor may record an instrument and, consistent with the final system plan, the release or removal of a pre-existing lien or encumbrance of record related to the interest transferred.
(Pub. L. 103–272, §1(e), July 5, 1994, 108 Stat. 937.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 24908 | 45:743(e) (words "title VII of the Railroad Revitalization and Regulatory Reform Act of 1976 [45 U.S.C. 851 et seq.] or of"). | Jan. 2, 1974, Pub. L. 93–236, 87 Stat. 985, §303(e) (words "title VII of the Railroad Revitalization and Regulatory Reform Act of 1976 or of"); added Feb. 5, 1976, Pub. L. 94–210, §601(d), 90 Stat. 84; Sept. 30, 1976, Pub. L. 94–436, §5 (related to title VII), 90 Stat. 1399. |
The words "or conveyances", "(whether real, personal, or mixed)", "which are made at any time", "the purposes of", "imposts", "or on the recording of deeds, bills of sale, liens, encumbrances, or other instruments evidencing, effectuating, or incident to any such transfers or conveyances, whether imposed on the transferor or on the transferee", "now or hereafter", "to compensate . . . the cost of", "such deeds, bills of sale, liens, encumbrances, or other", and "the designations and applicable principles in" are omitted as surplus.
About This Section
49 U.S.C. § 24908 is part of Title 49 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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