Us Code § 4420 - Tax status; tort liability
Full text of Us Code United States Code § 4420 — Tax status; tort liability, with citation guidance and answers to common questions.
§ 4420. Tax status; tort liability
(a) Tax status
The Institute and the franchise, capital, reserves, income, and property of the Institute shall be exempt from all taxation now or hereafter imposed by the United States, by any Indian tribe, or by any State or political subdivision thereof.
(b) Tort liability
(1) The Institute shall be subject to liability relating to tort claims only to the extent a Federal agency is subject to such liability under chapter 171 of title 28.
(2) For purposes of chapter 171 of title 28, the Institute shall be treated as a Federal agency (within the meaning of section 2671 of such title).
(3) For purposes of chapter 171 of title 28, the President of the Institute shall be deemed the head of the Agency.
(Pub. L. 99–498, title XV, §1513, Oct. 17, 1986, 100 Stat. 1608; Pub. L. 100–446, title II, Sept. 27, 1988, 102 Stat. 1818.)
Editorial Notes
Amendments
1988—Pub. L. 100–446 inserted "; tort liability" in section catchline, designated existing provisions as subsec. (a) and inserted heading, and added subsec. (b).
About This Section
20 U.S.C. § 4420 is part of Title 20 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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