; or (ii) any administrative or other action that becomes effective after the acquisition. (B) State law The Bank may conduct its business without regard to any qualification or law of any State relating to incorporation. (4) Taxation (A) In general Subject to subparagraph (B), the Bank (including its activities, capital, reserves, surplus and income) shall be exempt from all taxation imposed by any State or local political subdivision of a State. (B) Real property Any real property of the Bank shall be subject to taxation by a State or political subdivision of a State to the same extent according to the value of the real property as other real property is taxed. (5) Power to remove; jurisdiction Notwithstanding any other provision of law, any civil action, suit, or proceeding to which the Bank is a party shall be deemed to arise under the laws of the United States, and the United States district courts shall have original jurisdiction. The Bank may, without bond or security, remove any such action, suit, or proceeding from a State court to a United States district court or to the United States District Court for the District of Columbia. (6) Spending safeguards (A) In general The Chief Executive Officer of the Bank— (i) shall require any Eligible Clean Energy Financing Institution receiving financial support pursuant to this section to report quarterly, in a format specified by the Chief Executive Officer, on such entity’s use of such support and its progress fulfilling the objectives for which such support was granted, and the Chief Executive Officer shall make these reports available to the public; (ii) may establish additional reporting and information requirements for any recipient of financing support made available pursuant to this section; (iii) shall establish appropriate mechanisms to ensure appropriate use and compliance with all terms of any financing support made available pursuant to this section