A State or a territory or possession of the United States may tax United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) as money on hand or on deposit in the same way and at the same rate that the State, territory, or possession taxes other forms of money. This section does not affect a law taxing national banks.
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| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 5154 | 31:425, 426. | Aug. 13, 1894, ch. 281, |
The words "United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks)" are substituted for "Circulating notes of national banking associations and United States legal tender notes and other notes and certificates of the United States payable on demand and circulating or intended to circulate as currency and gold, silver, or other coin" in 31:425 to eliminate unnecessary words and for consistency with section 5103 of the revised title.
This restates 31:5154 to clarify the intent of the section. See 26 Cong. Rec. 7152, 7170 (1894).
1983-
Amendment effective Sept. 13, 1982, see section 2(i) of