5. ACT OF AUGUST 11, 1939

SEC. 8. This corporation 1 is hereby declared to be a charitable and benevolent institution, and all of its funds and property shall be exempt from taxation other than taxes on real estate. (53 Stat. 1414.)

6. ACT OF MARCH 13, 1942

No duties or import taxes shall be levied, collected, or payable under the Tariff Act of 1930, as amended, or under section 3425 of the Internal Revenue Code, with respect to scrap iron, scrap steel, as defined in paragraph 301 of the Tariff Act of 1930 (U. S. C., title 19, sec. 1001, par. 301), relaying and rerolling rails, or nonferrous-metal scrap entered for consumption or withdrawn from warehouse for consumption during the period beginning with the day following the date of enactment of this Act and ending with the close of June 30, 1949. (56 Stat. 171, c. 180, as amended Aug. 8, 1947, § 1, 61 Stat. 917, and June 8, 1948, 62 Stat. 344, 80th Cong., Pub. Law 613.)

7. REVENUE ACT OF 1942

SEC. 137 (c). AMENDMENTS INAPPLICABLE TO EMPLOYMENT TAXES.-The amendments made by this section shall not apply to the employment taxes imposed by Subchapters A and C of Chapter 9 of the Internal Revenue Code, or the corresponding provisions of a prior law. (Oct. 21, 1942, 56 Stat. 836.)

8. REVENUE ACT OF 1943

SEC. 307 (c). POWER OF SECRETARY OF TREASURY TO AUTHORIZE EXEMPTION.— Notwithstanding the amendments made by this section, the Secretary of the Treasury may authorize exemption from the taxes imposed by Chapter 19, 29, or 30 of the Internal Revenue Code as to any particular articles or services, or class of articles or services, to be purchased for the exclusive use of the United States, if he determines that the imposition of such taxes with respect to such articles or services, or class of articles or services, will cause substantial burden or expense which can be avoided by granting tax exemption and that the full benefit of such exemption, if granted, will accrue to the United States. (Feb. 25, 1944, 58 Stat. 66, as amended Nov. 8, 1945, § 303, 59 Stat. 576.)

9. ACT OF APRIL 29, 1947

The import tax imposed under section 3425 of the Internal Revenue Code shall not apply with respect to articles (other than copper sulphate) entered for consumption or withdrawn from warehouse for consumption during the period beginning with the day following the date of the enactment of this Act and ending with the close of March 31, 1949. (61 Stat. 56, c. 45.)

10. RECONSTRUCTION FINANCE CORPORATION ACT, AS AMENDED JUNE 30, 1947

SEC. S. The Corporation, including its franchise, capital, reserves and surplus, and its income shall be exempt from all taxation now or hereafter imposed by the United States, by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority, except that any real property of the Corporation shall be subject to special assessments for local improvements and shall be subject to State, Territorial, county, municipal, or local taxation to the same extent according to its value as other real property is taxed: Provided, That the special assessment and taxation of real property as authorized herein shall not include the taxation as real property of possessory interests, pipe lines, power lines, or machinery or equipment owned by the Corporation regardless of their nature, use, or manner of attachment or affixation to the land, building, or other structure upon or in which the same may be located. The exemptions provided for in the preceding sentence with respect to taxation (which shall, for all purposes, be deemed to include sales, use, storage, and purchase taxes) shall be construed to be applicable not only with respect to the Corporation but also 1 Group Hospitalization, Inc.

with respect to any other public corporation which is now or which may be hereafter wholly financed and wholly managed by the Corporation. Such exemptions shall also be construed to be applicable to loans made, and personal property owned by the Corporation or such other corporations, but such exemptions shall not be construed to be applicable in any State to any buildings which are considered by the laws of such State to be personal property for taxation purposes. Notwithstanding any other provision of law or any privilege or consent to tax expressly or impliedly granted thereby, the shares of preferred stock of national banking associations, and the shares of preferred stock, capital notes, and debentures of State banks and trust companies, acquired prior to July 1, 1947, by the Corporation, and the dividends or interest derived therefrom by the Corporation, shall not, so long as the Corporation shall continue to own the same, be subject to any taxation by the United States, by any Territory, dependency or possession thereof, or the District of Columbia, or by any State, county, municipality, or local taxing authority, whether now, heretofore, or hereafter imposed, levied, or assessed, and whether for a past, present, or future taxing period. (61 Stat. 205.)

11. INSTITUTE OF INTER-AMERICAN AFFAIRS ACT

SEC. 10. The Institute [of Inter-American Affairs], including its franchise and income, shall be exempt from taxation now or hereafter imposed by the United States * * * (Aug. 5, 1947, 61 Stat. 783.)

12. SEC. 20B OF THE INTERSTATE COMMERCE ACT,
AS AMENDED APRIL 9, 1948

(12) The provisions of sections 1801, 1802, 3481, and 3482 of the Internal Revenue Code and any amendments thereto, unless specifically providing to the contrary, shall not apply to the issuance, transfer, or exchange of securities or the making or delivery of conveyances to make effective any alteration or modification effected pursuant to this section. (62 Stat. 167; 80th Cong., Pub. Law 478.)

13. NATIONAL HOUSING ACT, AS AMENDED JULY 1, 1948 SEC. 304. The [Federal National Mortgage] Association, including its franchise, capital, reserves, surplus, mortgage loans, income, and stock shall be exempt from all taxation now or hereafter imposed by the United States * * * Stat. 1208; 80th Cong., Pub. Law 864.)

14. ACT OF MARCH 31, 1949

(62

The import tax imposed under section 3425 of the Internal Revenue Code shall not apply with respect to articles (other than copper sulfate and other than composition metal provided for in paragraph 1657 of the Tariff Act of 1930, as amended, which is suitable both in its composition and shape, without further refining or alloying, for processing into castings, not including as castings ingots or similar cast forms) entered for consumption or withdrawn from warehouse for consumption during the period beginning April 1, 1949, and ending with the close of June 30, 1950. (63 Stat. ; 81st Cong., Pub. Law 33.)

APPENDIX III

Table of Added or Amended Provisions in the Text of
This Document

1 Sec. 506 (d) of the 1942 act amends I. R. C. 1800 (e) and (f) in full, but includes only (e) in the new provision; Sec. 506 (e) reletters the original (g) as (h), and inserts a new (f) and (g).

? This amendment changes a rate of tax which had already been changed by the prior amendment of Sept. 20, 1941 (55 Stat. 708, §533 (b)). ́

Original (e-g) relettered (f-h).

This amendment changes rates of tax that had already been changed by the prior amendment of Sept. 20, 1941 (55 Stat. 709, § 534 (a)).

This amendment changes rates of tax that had already been changed by the prior amendment of Sept. 20, 1941 (55 Stat. 709, § 534 (b)).

This amendment changes a rate of tax that had already been changed by the prior amendment of Sept. 20, 1941 (55 Stat. 707 (10)).

'Original parts II and III renumbered I and II.