Us Code § 3307 - Exemption from taxation
Full text of Us Code United States Code § 3307 — Exemption from taxation, with citation guidance and answers to common questions.
§ 3307. Exemption from taxation
(a) United States, State, or local taxes
The Institute, its property, and its income are exempt from all taxation now or hereafter imposed by the United States (except to the extent that section 3310(a)(3) of this title requires the imposition of taxes imposed under chapter 21 of title 26, relating to the Federal Insurance Contributions Act) or by any State or local taxing authority of the United States.
(b) Charitable contributions; transfers for public, charitable, and religious uses; charitable and similar gifts
For purposes of title 26, the Institute shall be treated as an organization described in sections 170(b)(1)(A), 170(c), 2055(a), 2106(a)(2)(A), 2522(a), and 2522(b) of title 26.
(Pub. L. 96–8, §8, Apr. 10, 1979, 93 Stat. 17; Pub. L. 99–514, §2, Oct. 22, 1986, 100 Stat. 2095.)
Editorial Notes
References in Text
The Federal Insurance Contributions Act, referred to in subsec. (a), is act Aug. 16, 1954, ch. 736, §§3101, 3102, 3111, 3112, 3121 to 3128, 68A Stat. 415, which is classified generally to chapter 21 (§3101 et seq.) of Title 26, Internal Revenue Code. For complete classification of this Act to the Code, see section 3128 of Title 26 and Tables.
Amendments
1986—Pub. L. 99–514 substituted in subsecs. (a) and (b) "Internal Revenue Code of 1986" for "Internal Revenue Code of 1954", which for purposes of codification was translated as "title 26" thus requiring no change in text.
Statutory Notes and Related Subsidiaries
Effective Date
Section effective as of January 1, 1979, see section 18 of Pub. L. 96–8, set out as a note under section 3301 of this title.
About This Section
22 U.S.C. § 3307 is part of Title 22 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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