Amendments
1988—[Pub. L. 100–233] inserted before period at end “, except that interest on such obligations shall be subject to Federal income taxation in the hands of the holder”.
1985—[Pub. L. 99–205] struck out last two sentences relating to exemption of banks for cooperatives and their property, franchises, capital, reserves, surplus, other funds, and income from Federal and non-Federal taxation except for Federal income taxation of interest on obligations of such banks and for Federal and non-Federal taxation of real and tangible personal property of such banks to same extent as similar property is taxed, and making such exemption provisions applicable only for any year or part thereof in which stock in such banks was held by the Governor of the Farm Credit Administration.
Effective Date of 1985 Amendment
Amendment by [Pub. L. 99–205] effective thirty days after Dec. 23, 1985, see [section 401 of Pub. L. 99–205], set out as a note under [section 2001 of this title].
