U.S. Code » Title 7 » Chapter CHAPTER 36— CROP INSURANCE › Subchapter SUBCHAPTER I— FEDERAL CROP INSURANCE

7 U.S.C. § 1511

Tax exemption

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The Corporation, including its franchise, its capital, reserves, and surplus, and its income and property, shall be exempt from all taxation on or after February 16, 1938, imposed by the United States or by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority. A contract of insurance of the Corporation, and a contract of insurance reinsured by the Corporation, shall be exempt from taxation imposed by any State, municipality, or local taxing authority.

Notes of Decisions
Cited in 5 cases, 1992–2015 · leading case: ACE Prop. & Cas. Ins. v. Comm'r of Revenue, 770 N.E.2d 980 (Mass. 2002).
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ACE Prop. & Cas. Ins. v. Comm'r of Revenue, 770 N.E.2d 980 (Mass. 2002). · cites it 13× “Believing that premiums on FCIC-reinsured policies are exempt from State taxation under the Act, see 7 U.S.C. § 1511 , ACE did not include those premiums on its premium excise return for 1995.”
State of Kansas ex rel. Ron Todd v. United States, 995 F.2d 1505 (10th Cir. 1993). “The FCIC found it was paying state taxes on premiums for reinsured contracts which the FCIC is exempt from under 7 U.S.C. § 1511 , by virtue of its reimbursement of expenses for private insurance companies on reinsured contracts.”
State of Kan. ex rel. Todd v. United States, 791 F. Supp. 1491 (D. Kan. 1992). “Even though the FCIC is exempt from state taxes, 7 U.S.C. § 1511 , it must reimburse the private insurers for their expenses, 7 U.”
Greenwich Ins. v. Mississippi Windstorm Underwriting Ass'n, 808 F.3d 652 (5th Cir. 2015). “Greenwich also cites 7 U.S.C. § 1511 (2012) for the proposition that MPCI is exempt from state and local taxes and 7 C.”
Greenwich Ins. Co. v. MS Windstorm Underw, No. 15-60405 (5th Cir. Dec. 16, 2015). “351 (b)(2) and (5) for the proposition that MWUA’s post-Katrina assessments could not be based on MPCI premiums. Neither of these propositions is in dispute, and we therefore undertake no close analysis of these preemption clauses.”
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