Notes on 26 U.S.C. § 501 : US Code - Notes

Search Notes on 26 U.S.C. § 501 : US Code - Notes

(Aug. 16, 1954, ch. 736, 68A Stat. 163; Mar. 13, 1956, ch. 83, Sec.
5(2), 70 Stat. 49; Pub. L. 86-428, Sec. 1, Apr. 22, 1960, 74 Stat.
54; Pub. L. 86-667, Sec. 1, July 14, 1960, 74 Stat. 534; Pub. L. 87-
834, Sec. 8(d), Oct. 16, 1962, 76 Stat. 997; Pub. L. 89-352, Sec.
1, Feb. 2, 1966, 80 Stat. 4; Pub. L. 89-800, Sec. 6(a), Nov. 8,
1966, 80 Stat. 1515; Pub. L. 90-364, title I, Sec. 109(a), June 28,
1968, 82 Stat. 269; Pub. L. 91-172, title I, Secs. 101(j)(3)-(6),
121(b)(5)(A), (6)(A), Dec. 30, 1969, 83 Stat. 526, 527, 541; Pub.
L. 91-618, Sec. 1, Dec. 31, 1970, 84 Stat. 1855; Pub. L. 92-418,
Sec. 1(a), Aug. 29, 1972, 86 Stat. 656; Pub. L. 93-310, Sec. 3(a),
June 8, 1974, 88 Stat. 235; Pub. L. 93-625, Sec. 10(c), Jan. 3,
1975, 88 Stat. 2119; Pub. L. 94-455, title XIII, Secs. 1307(a)(1),
(d)(1)(A), 1312(a), 1313(a), title XIX, Sec. 1906(b)(13)(A), title
XXI, Secs. 2113(a), 2134(b), Oct. 4, 1976, 90 Stat. 1720, 1727,
1730, 1834, 1907, 1927; Pub. L. 94-568, Secs. 1(a), 2(a), Oct. 20,
1976, 90 Stat. 2697; Pub. L. 95-227, Sec. 4(a), Feb. 10, 1978, 92
Stat. 15; Pub. L. 95-345, Sec. 1(a), Aug. 15, 1978, 92 Stat. 481;
Pub. L. 95-600, title VII, Sec. 703(b)(2), (g)(2)(A), (B), Nov. 6,
1978, 92 Stat. 2939, 2940; Pub. L. 96-222, title I, Sec.
108(b)(2)(B), Apr. 1, 1980, 94 Stat. 226; Pub. L. 96-364, title II,
Sec. 209(a), Sept. 26, 1980, 94 Stat. 1290; Pub. L. 96-601, Sec.
3(a), Dec. 24, 1980, 94 Stat. 3496; Pub. L. 96-605, title I, Sec.
106(a), Dec. 28, 1980, 94 Stat. 3523; Pub. L. 97-119, title I, Sec.
103(c)(1), Dec. 29, 1981, 95 Stat. 1638; Pub. L. 97-248, title II,
Sec. 286(a), title III, Sec. 354(a), (b), Sept. 3, 1982, 96 Stat.
569, 640, 641; Pub. L. 97-448, title III, Sec. 306(b)(5), Jan. 12,
1983, 96 Stat. 2406; Pub. L. 98-369, div. A, title X, Secs.
1032(a), 1079, div. B, title VIII, Sec. 2813(b), July 18, 1984, 98
Stat. 1033, 1056, 1206; Pub. L. 99-272, title XI, Sec. 11012(b),
Apr. 7, 1986, 100 Stat. 260; Pub. L. 99-514, title X, Secs.
1012(a), 1024(b), title XI, Secs. 1109(a), 1114(b)(14), title XVI,
Sec. 1603(a), title XVIII, Secs. 1879(k)(1), 1899A(15), Oct. 22,
1986, 100 Stat. 2390, 2406, 2435, 2451, 2768, 2909, 2959; Pub. L.
100-203, title X, Sec. 10711(a)(2), Dec. 22, 1987, 101 Stat. 1330-
464; Pub. L. 100-647, title I, Secs. 1010(b)(4), 1011(c)(7)(D),
1016(a)(1)(A), (2)-(4), 1018(u)(14), (15), (34), title II, Sec.
2003(a)(1), (2), title VI, Sec. 6202(a), Nov. 10, 1988, 102 Stat.
3451, 3458, 3573, 3574, 3590, 3592, 3597, 3598, 3730; Pub. L. 101-
73, title XIV, Sec. 1402(a), Aug. 9, 1989, 103 Stat. 550; Pub. L.
102-486, title XIX, Sec. 1940(a), Oct. 24, 1992, 106 Stat. 3034;
Pub. L. 103-66, title XIII, Sec. 13146(a), (b), Aug. 10, 1993, 107
Stat. 443; Pub. L. 104-168, title XIII, Sec. 1311(b)(1), July 30,
1996, 110 Stat. 1477; Pub. L. 104-188, title I, Secs. 1114(a),
1704(j)(5), Aug. 20, 1996, 110 Stat. 1759, 1882; Pub. L. 104-191,
title III, Secs. 341(a), 342(a), Aug. 21, 1996, 110 Stat. 2070;
Pub. L. 105-33, title IV, Sec. 4041(a), Aug. 5, 1997, 111 Stat.
360; Pub. L. 105-34, title I, Sec. 101(c), title IX, Secs. 963(a),
(b), 974(a), Aug. 5, 1997, 111 Stat. 799, 892, 898; Pub. L. 105-
206, title VI, Sec. 6023(6), (7), July 22, 1998, 112 Stat. 825;
Pub. L. 107-16, title VI, Sec. 611(d)(3)(C), June 7, 2001, 115
Stat. 98; Pub. L. 107-90, title II, Sec. 202, Dec. 21, 2001, 115
Stat. 890; Pub. L. 108-121, title I, Secs. 105(a), 108(a), Nov. 11,
2003, 117 Stat. 1338, 1339; Pub. L. 108-218, title II, Sec. 206(a),
(b), Apr. 10, 2004, 118 Stat. 610, 611; Pub. L. 108-357, title III,
Sec. 319(a), (b), Oct. 22, 2004, 118 Stat. 1470, 1471; Pub. L. 109-
58, title XIII, Sec. 1304(a), (b), Aug. 8, 2005, 119 Stat. 997;
Pub. L. 109-135, title IV, Sec. 412(bb), (cc), Dec. 21, 2005, 119
Stat. 2639.)
AMENDMENT OF SECTION
For termination of amendment by section 901 of Pub. L. 107-16,
see Effective and Termination Dates of 2001 Amendments note below.
REFERENCES IN TEXT
Sections 306A and 306B of the Rural Electrification Act of 1936,
referred to in subsec. (c)(12)(B)(iv), are classified to sections
936a and 936b, respectively, of Title 7, Agriculture. Section 311
of the Act was classified to section 940a of Title 7 prior to
repeal by Pub. L. 104-127, title VII, Sec. 780, Apr. 4, 1996, 110
Stat. 1151.
The date of the enactment of this subparagraph, referred to in
subsec. (c)(12)(H)(vii), is the date of enactment of Pub. L. 108-
357, which was approved Oct. 22, 2004.
The date of the enactment of this subparagraph, referred to in
subsec. (c)(21)(C)(ii), is the date of enactment of Pub. L. 102-
486, which was approved Oct. 24, 1992.
The Federal Mine Safety and Health Act of 1977, referred to in
subsec. (c)(21)(D)(i), is Pub. L. 91-173, Dec. 30, 1969, 83 Stat.
742, as amended by Pub. L. 95-164, Nov. 9, 1977, 91 Stat. 1290.
Part C of title IV of the Act is classified generally to part C
(Sec. 931 et seq.) of subchapter IV of chapter 22 of Title 30,
Mineral Lands and Mining. For complete classification of this Act
to the Code, see Short Title note set out under section 801 of
Title 30 and Tables.
Section 4223 of the Employee Retirement Income Security Act of
1974, referred to in subsec. (c)(22)(A)(i), (C), (D), is classified
to section 1403 of Title 29, Labor.
Section 4049 of the Employee Retirement Income Security Act of
1974, referred to in subsec. (c)(24), was classified to section
1349 of Title 29, prior to its repeal by Pub. L. 100-203, title IX,
Sec. 9312(a), Dec. 22, 1987, 101 Stat. 1330-361.
The date of the enactment of the Single-Employer Pension Plan
Amendments Act of 1986, referred to in subsec. (c)(24), is the date
of enactment of title XI of Pub. L. 99-272, which was approved Apr.
7, 1986.
The date of enactment of this subparagraph, referred to in
subsec. (c)(27)(B)(iii)(I), is the date of enactment of Pub. L. 105-
34, which was approved Aug. 5, 1997.
Section 15(j) of the Railroad Retirement Act of 1974, referred to
in subsec. (c)(28), is classified to section 231n(j) of Title 45,
Railroads.
The provisions of subsec. (a) of section 115, referred to in
subsec. (f)(3)(B), now comprise section 115 in its entirety,
following the deletion therefrom of the subsec. (a) designation by
section 1901(a)(19) of Pub. L. 94-455.
The Federal Credit Union Act, referred to in subsec. (l)(1), is
act June 26, 1934, ch. 750, 48 Stat. 1216, as amended. Title III of
the Federal Credit Union Act is classified generally to subchapter
III (Sec. 1795 et seq.) of chapter 14 of Title 12, Banks and
Banking. For complete classification of this Act to the Code, see
section 1751 of Title 12 and Tables.
Sections 21A and 21B of the Federal Home Loan Bank Act, referred
to in subsec. (l)(2), (3), are classified to sections 1441a and
1441b, respectively, of Title 12.
Section 1855(d) of the Social Security Act, referred to in
subsec. (o), is classified to section 1395w-25(d) of Title 42, The
Public Health and Welfare.
Sections 212(a)(3)(B) and 219 of the Immigration and Nationality
Act, referred to in subsec. (p)(2)(A), (C)(i), are classified to
sections 1182(a)(3)(B) and 1189, respectively, of Title 8, Aliens
and Nationality.
The International Emergency Economic Powers Act, referred to in
subsec. (p)(2)(B), is title II of Pub. L. 95-223, Dec. 28, 1977, 91
Stat. 1626, as amended, which is classified generally to chapter 35
(Sec. 1701 et seq.) of Title 50, War and National Defense. For
complete classification of this Act to the Code, see Short Title
note set out under section 1701 of Title 50 and Tables.
Section 5 of the United Nations Participation Act of 1945,
referred to in subsec. (p)(2)(B), is classified to section 287c of
Title 22, Foreign Relations and Intercourse.
Section 140(d)(2) of the Foreign Relations Authorization Act,
Fiscal Years 1988 and 1989, referred to in subsec. (p)(2)(C)(i), is
classified to section 2656f(d)(2) of Title 22, Foreign Relations
and Intercourse.
The date of the enactment of this subsection, referred to in
subsec. (p)(3)(A)(ii), is the date of enactment of Pub. L. 108-121,
which was approved Nov. 11, 2003.
Section 556(b)(2), referred to in subsec. (p)(4), was repealed by
Pub. L. 108-357, title IV, Sec. 413(a)(1), Oct. 22, 2004, 118 Stat.
1506.
Section 11(b) of the Internal Security Act of 1950 (64 Stat. 997;
50 U.S.C. 790(b)), referred to in subsec. (q), was repealed by Pub.
L. 103-199, title VIII, Sec. 803(1), Dec. 17, 1993, 107 Stat. 2329.
AMENDMENTS
2005 - Subsec. (c)(12)(C). Pub. L. 109-58, Sec. 1304(a), struck
out concluding provisions which read as follows: "Clauses (ii)
through (v) shall not apply to taxable years beginning after
December 31, 2006."
Subsec. (c)(12)(F). Pub. L. 109-135, Sec. 412(bb)(1), substituted
"subparagraph (C)(iv)" for "subparagraph (C)(iii)".
Subsec. (c)(12)(G). Pub. L. 109-135, Sec. 412(bb)(2), substituted
"subparagraph (C)(v)" for "subparagraph (C)(iv)".
Subsec. (c)(12)(H)(x). Pub. L. 109-58, Sec. 1304(b), struck out
cl. (x) which read as follows: "This subparagraph shall not apply
to taxable years beginning after December 31, 2006."
Subsec. (c)(22)(B)(ii). Pub. L. 109-135, Sec. 412(cc),
substituted "clause (ii) of paragraph (21)(D)" for "clause (ii) of
paragraph (21)(B)".
2004 - Subsec. (c)(12)(C). Pub. L. 108-357, Sec. 319(a)(1), added
cls. (ii) to (v) and concluding provisions and struck out former
cl. (ii) which read as follows: "from the prepayment of a loan
under section 306A, 306B, or 311 of the Rural Electrification Act
of 1936 (as in effect on January 1, 1987)."
Subsec. (c)(12)(E) to (G). Pub. L. 108-357, Sec. 319(a)(2), added
subpars. (E) to (G).
Subsec. (c)(12)(H). Pub. L. 108-357, Sec. 319(b), added subpar.
(H).
Subsec. (c)(15)(A). Pub. L. 108-218, Sec. 206(a), amended subpar.
(A) generally. Prior to amendment, subpar. (A) read as follows:
"Insurance companies or associations other than life (including
interinsurers and reciprocal underwriters) if the net written
premiums (or, if greater, direct written premiums) for the taxable
year do not exceed $350,000."
Subsec. (c)(15)(C). Pub. L. 108-218, Sec. 206(b), inserted before
period at end ", except that in applying section 831(b)(2)(B)(ii)
for purposes of this subparagraph, subparagraphs (B) and (C) of
section 1563(b)(2) shall be disregarded".
2003 - Subsec. (c)(19)(B). Pub. L. 108-121, Sec. 105(a),
substituted ", widowers, ancestors, or lineal descendants" for "or
widowers".
Subsecs. (p), (q). Pub. L. 108-121, Sec. 108(a), added subsec.
(p) and redesignated former subsec. (p) as (q).
2001 - Subsec. (c)(18)(D)(iii). Pub. L. 107-16, Secs.
611(d)(3)(C), 901, temporarily struck out "(other than paragraph
(4) thereof)" after "section 402(g)". See Effective and Termination
Dates of 2001 Amendment note below.
Subsec. (c)(28). Pub. L. 107-90 added par. (28).
1998 - Subsec. (n)(3). Pub. L. 105-206, Sec. 6023(6), substituted
"subparagraph (E)(ii)" for "subparagraph (C)(ii)" in concluding
provisions.
Subsec. (o). Pub. L. 105-206, Sec. 6023(7), substituted "section
1855(d)" for "section 1853(e)".
1997 - Subsec. (c)(26). Pub. L. 105-34, Sec. 101(c), inserted
concluding provisions "A spouse and any qualifying child (as
defined in section 24(c)) of an individual described in
subparagraph (B) (without regard to this sentence) shall be treated
as described in subparagraph (B)."
Subsec. (c)(27). Pub. L. 105-34, Sec. 963(a), (b), designated
existing provisions as subpar. (A), redesignated former subpar. (A)
as cl. (i), redesignated subpar. (B) as cl. (ii) and former cls.
(i) and (ii) of subpar. (B) as subcls. (I) and (II), respectively,
of cl. (ii), redesignated subpar. (C) as cl. (iii) and former cls.
(i) and (ii) of subpar. (C) as subcls. (I) and (II), respectively,
of cl. (iii), and added subpar. (B).
Subsec. (e)(1)(A). Pub. L. 105-34, Sec. 974(a), inserted
"(including the purchase of patron accounts receivable on a
recourse basis)" after "billing and collection".
Subsecs. (o), (p). Pub. L. 105-33 added subsec. (o) and
redesignated former subsec. (o) as (p).
1996 - Subsec. (c)(4). Pub. L. 104-168 designated existing
provisions as subpar. (A) and added subpar. (B).
Subsec. (c)(21)(D)(ii)(III). Pub. L. 104-188, Sec. 1704(j)(5),
substituted "section 101(7)" for "section 101(6)" and "1752(7)" for
"1752(6)".
Subsec. (c)(26). Pub. L. 104-191, Sec. 341(a), added par. (26).
Subsec. (c)(27). Pub. L. 104-191, Sec. 342(a), added par. (27).
Subsecs. (n), (o). Pub. L. 104-188, Sec. 1114(a), added subsec.
(n) and redesignated former subsec. (n) as (o).
1993 - Subsec. (c)(2). Pub. L. 103-66, Sec. 13146(b), inserted at
end "Rules similar to the rules of subparagraph (G) of paragraph
(25) shall apply for purposes of this paragraph."
Subsec. (c)(25)(G). Pub. L. 103-66, Sec. 13146(a), added subpar.
(G).
1992 - Subsec. (c)(21). Pub. L. 102-486 amended par. (21)
generally, substituting present provisions consisting of subpars.
(A) to (D) for former provisions consisting of subpars. (A) and
(B).
1989 - Subsec. (l). Pub. L. 101-73 amended subsec. (l) generally.
Prior to amendment, subsec. (l) read as follows: "The organization
described in this subsection is the Central Liquidity Facility
established under title III of the Federal Credit Union Act (12
U.S.C. 1795 et seq.)."
1988 - Subsec. (c)(1). Pub. L. 100-647, Sec. 1018(u)(15),
substituted "Any" for "any".
Subsec. (c)(12)(B)(iv). Pub. L. 100-647, Sec. 2003(a)(1), added
cl. (iv).
Subsec. (c)(12)(C). Pub. L. 100-647, Sec. 2003(a)(2), amended
subpar. (C) generally. Prior to amendment, subpar. (C) read as
follows: "In the case of a mutual or cooperative electric company,
subparagraph (A) shall be applied without taking into account any
income received or accrued from qualified pole rentals."
Subsec. (c)(17)(A)(ii), (iii), (18)(B), (C). Pub. L. 100-647,
Sec. 1018(u)(34), made technical amendments to Pub. L. 99-154, Sec.
1114(b)(14). See 1986 Amendment note below.
Subsec. (c)(18)(D)(iv). Pub. L. 100-647, Sec. 1011(c)(7)(D),
added cl. (iv).
Subsec. (c)(23). Pub. L. 100-647, Sec. 1018(u)(14), substituted
"Any" for "any".
Subsec. (c)(25)(A). Pub. L. 100-647, Sec. 1016(a)(1)(A), inserted
at end "For purposes of clause (iii), the term 'real property'
shall not include any interest as a tenant in common (or similar
interest) and shall not include any indirect interest."
Subsec. (c)(25)(C)(v). Pub. L. 100-647, Sec. 1016(a)(3)(B),
struck out cl. (v) which read as follows: "any organization
described in this paragraph."
Subsec. (c)(25)(D). Pub. L. 100-647, Sec. 1016(a)(2), substituted
"A corporation or trust shall in no event be treated as described
in subparagraph (A) unless such corporation or trust permits its
shareholders or beneficiaries" for "A corporation or trust
described in this paragraph must permit its shareholders or
beneficiaries" in introductory text.
Subsec. (c)(25)(E), (F). Pub. L. 100-647, Sec. 1016(a)(3)(A),
(4), added subpars. (E) and (F).
Subsec. (e)(1)(A). Pub. L. 100-647, Sec. 6202(a), inserted
"(including the purchasing of insurance on a group basis)" after
"purchasing".
Subsec. (m)(3)(E). Pub. L. 100-647, Sec. 1010(b)(4)(A), added
subpar. (E).
Subsec. (m)(5). Pub. L. 100-647, Sec. 1010(b)(4)(B), added par.
(5).
1987 - Subsec. (c)(3). Pub. L. 100-203 inserted "(or in
opposition to)" after "in behalf of".
1986 - Subsec. (c)(1)(A)(i). Pub. L. 99-514, Sec. 1899A(15),
substituted "July 18, 1984" for "the date of the enactment of the
Tax Reform Act of 1984".
Subsec. (c)(14)(B)(iv). Pub. L. 99-514, Sec. 1879(k)(1), added
cl. (iv).
Subsec. (c)(15). Pub. L. 99-514, Sec. 1024(b), amended par. (15)
generally. Prior to amendment, par. (15) read as follows: "Mutual
insurance companies or associations other than life or marine
(including inter-insurers and reciprocal underwriters) if the gross
amount received during the taxable year from the items described in
section 822(b) (other than paragraph (1)(D) thereof) and premiums
(including deposits and assessments) does not exceed $150,000."
Subsec. (c)(17)(A)(ii), (iii), (18)(B), (C). Pub. L. 99-514, Sec.
1114(b)(14), as amended by Pub. L. 100-647, Sec. 1018(u)(34),
substituted "highly compensated employees (within the meaning of
section 414(q))" for "officers, shareholders, persons whose
principal duties consist of supervising the work of other
employees, or highly compensated employees".
Subsec. (c)(18)(D). Pub. L. 99-514, Sec. 1109(a), added subpar.
(D).
Subsec. (c)(24). Pub. L. 99-272 added par. (24).
Subsec. (c)(25). Pub. L. 99-514, Sec. 1603(a), added par. (25).
Subsecs. (m), (n). Pub. L. 99-514, Sec. 1012(a), added subsec.
(m) and redesignated former subsec. (m) as (n).
1984 - Subsec. (c)(1). Pub. L. 98-369, Sec. 2813(b)(2),
designated existing provisions as subpar. (A) and added subpar.
(B).
Subsec. (c)(1)(A). Pub. L. 98-369, Sec. 1079, substituted
provisions referring to corporations exempt from Federal income
taxes under any Act of Congress as amended and supplemented before
July 18, 1984, or under this title without regard to any provision
of law not contained in this title and not contained in a revenue
Act for provisions referring to corporations exempt from Federal
income taxes under any Act of Congress as amended and supplemented.
Subsec. (k). Pub. L. 98-369, Sec. 1032(a), added subsec. (k).
Former subsec. (k) redesignated (l).
Subsec. (l). Pub. L. 98-369, Sec. 2813(b)(1), added subsec. (l).
Former subsec. (l) redesignated (m).
Pub. L. 98-369, Sec. 1032(a), redesignated former subsec. (k) as
(l).
Subsec. (m). Pub. L. 98-369, Sec. 2813(b)(1), redesignated former
subsec. (l) as (m).
1983 - Subsec. (c)(23). Pub. L. 97-448 substituted "75 percent"
for "25 percent".
1982 - Subsec. (c)(19). Pub. L. 97-248, Sec. 354(a)(1),
substituted "past or present members of the Armed Forces of the
United States" for "war veterans" after "A post or organization
of".
Subsec. (c)(19)(B). Pub. L. 97-248, Sec. 354(a)(2), substituted
"past or present members of the Armed Forces of the United States"
for "war veterans" wherever appearing, struck out "veterans (but
not war veterans), or are" after "individuals who are", and
substituted "or of cadets" for "or such individuals" before ",
and".
Subsec. (c)(23). Pub. L. 97-248, Sec. 354(b), added par. (23).
Subsecs. (j), (k). Pub. L. 97-248, Sec. 286(a), added subsec. (j)
and redesignated former subsec. (j) as (k).
1981 - Subsec. (c)(21)(B)(iii). Pub. L. 97-119 substituted
"established under section 9501" for "established under section 3
of the Black Lung Benefits Revenue Act of 1977".
1980 - Subsec. (c)(12). Pub. L. 96-605 designated existing
provision as subpar. (A), struck out provision that, in the case of
any mutual or cooperative telephone company, the 85 per cent or
more income requirement be applied without taking into account any
income received or accrued from a nonmember telephone company for
the performance of communication services which involve members of
such mutual or cooperative telephone company, and added subpars.
(B) to (D).
Subsec. (c)(21). Pub. L. 96-222 substituted "Federal Mine Safety
and Health Act of 1977" for "Federal Coal Mine Health and Safety
Act of 1969".
Subsec. (c)(22). Pub. L. 96-364 added par. (22).
Subsec. (i). Pub. L. 96-601 inserted provision that the
restriction on religious discrimination not apply to an auxiliary
of a fraternal beneficiary society if the society is described in
subsec. (c)(8) of this section, is exempt from income tax under
subsec. (a) of this section, and limits its membership to the
members of a particular religion or to a club which in good faith
limits its membership to the members of a particular religion in
order to further the teachings or principles of that religion, and
not to exclude individuals of a particular race or color.
1978 - Subsec. (c)(12). Pub. L. 95-345 inserted provision
relating to applicability of statutory provisions to mutual or
cooperative telephone company of income received or accrued from a
nonmember telephone company.
Subsec. (c)(20). Pub. L. 95-600, Sec. 703(b)(2), substituted
"this paragraph" for "section 501(c)(20)".
Subsec. (c)(21). Pub. L. 95-227 added par. (21).
Subsecs. (g), (i). Pub. L. 95-600, Sec. 703(g)(2)(B),
redesignated subsec. (g), which was added by section 2(a) of Pub.
L. 94-568, as subsec. (i). Former subsec. (i), relating to cross
reference, redesignated (j).
Subsecs. (i), (j). Pub. L. 95-600, Sec. 703(g)(2)(A), amended
Pub. L. 95-600, Sec. 2(a). See 1976 Amendment note below.
1976 - Subsec. (c)(3). Pub. L. 94-455, Secs. 1313(a),
1307(d)(1)(A), inserted "or to foster national or international
amateur sports competition (but only if no part of its activities
involve the provision of athletic facilities or equipment)" after
"educational purposes" and inserted "(except as otherwise provided
in subsection (h))" after "influence legislation".
Subsec. (c)(7). Pub. L. 94-568, Sec. 1(a), struck out requirement
that clubs be "operated exclusively" for specified purposes but
required that substantially all of club activities be for specified
purposes.
Subsec. (c)(17), (18). Pub. L. 94-455, Sec. 1906(b)(13)(A),
struck out "or his delegate" after "Secretary".
Subsec. (c)(20). Pub. L. 94-455, Sec. 2134(b), added par. (20).
Subsec. (e)(1)(A). Pub. L. 94-455, Sec. 1312(a), inserted
"clinical" after "food".
Subsec. (g). Pub. L. 94-568, Sec. 2(a), added subsec. (g)
relating to prohibition of discrimination by certain social clubs.
Pub. L. 94-455, Sec. 2113(a), added subsec. (g) defining
agricultural. Former subsec. (g) redesignated (h).
Subsec. (h). Pub. L. 94-455, Secs. 1307(a)(1), 2113(a), added
subsec. (h). Former subsec. (g), relating to cross reference,
redesignated (h) and further redesignated (i).
Subsec. (i). Pub. L. 94-568, Sec. 2(a), as amended by Pub. L. 95-
600, Sec. 703(g)(2)(A), added subsec. (i). Former subsec. (i)
redesignated (j).
Pub. L. 94-455, Sec. 1307(a)(1), redesignated subsec. (h),
relating to cross reference, as (i).
Subsec. (j). Pub. L. 94-568, Sec. 2(a), as amended by Pub. L. 95-
600, Sec. 703(g)(2)(A), redesignated subsec. (i), relating to
cross reference, as (j).
1975 - Subsec. (b). Pub. L. 93-625 inserted references to part VI
of this subchapter.
1974 - Subsecs. (f), (g). Pub. L. 93-310 added subsec. (f) and
redesignated former subsec. (f) as (g).
1972 - Subsec. (c)(19). Pub. L. 92-418 added par. (19).
1970 - Subsec. (c)(13). Pub. L., 91-618 substituted "corporation
chartered solely for the purpose of disposal of bodies by burial or
cremation which is not permitted" for "corporation chartered solely
for burial purposes as a cemetery corporation and is not
permitted".
1969 - Subsec. (a). Pub. L. 91-172, Sec. 101(j)(3), struck out
reference to section 504.
Subsec. (b). Pub. L. 91-172, Sec. 101(j)(4), inserted reference
to certain other activities in heading and to part III in text, and
struck out reference to tax on unrelated income.
Subsec. (c). Pub. L. 91-172, Secs. 101(j)(5), 121(b)(6)(A),
substituted "part IV" for "part III" after "Corporations organized
by an association subject to" and added par. 18.
Subsec. (c)(9). Pub. L. 91-172, Sec. 121(b)(5)(A), inserted
reference to designated beneficiaries and struck out reference to
85 percent or more income of voluntary employees' beneficiary
associations.
Subsec. (c)(10). Pub. L. 91-172, Sec. 121(b)(5)(A), substituted
provisions concerning domestic fraternal societies, orders, or
associations, operating under the lodge system, for provisions
covering voluntary employees' beneficiary associations which would
pay benefits to designated beneficiaries of members.
Subsec. (e). Pub. L. 91-172, Sec. 101(j)(6), substituted "section
170(b)(1)(A)(iii)" for "section 503(b)(5)" in last sentence.
1968 - Subsecs. (e), (f). Pub. L. 90-364 added subsec. (e) and
redesignated former subsec. (e) as (f).
1966 - Subsec. (c)(6). Pub. L. 89-800 inserted reference to
professional football leagues (whether or not administering a
pension fund for football players).
Subsec. (c)(14). Pub. L. 89-352 designated as subpar. (A)
provisions covering credit unions which were formerly set out
preceding subpar. (A), designated as subpar. (B) and clauses (i),
(ii), and (iii) thereunder provisions covering corporation or
associations without capital stock organized before Sept. 1, 1957,
which formerly were set out as provisions preceding subpar. (A) and
as subpars. (A), (B), and (C) respectively, and added subpar. (C).
1962 - Subsec. (c)(15). Pub. L. 87-834 substituted "$150,000" for
"$75,000".
1960 - Subsec. (c)(14). Pub. L. 86-428 substituted "September 1,
1957" for "September 1, 1951".
Subsec. (c)(17). Pub. L. 86-667 added par. (17).
1956 - Subsec. (c)(15). Act Mar. 13, 1956, substituted "the items
described in section 822(b) (other than paragraph (1)(D) thereof)"
for "interest, dividends, rents,".
EFFECTIVE DATE OF 2005 AMENDMENT
Pub. L. 109-58, title XIII, Sec. 1304(c), Aug. 8, 2005, 119 Stat.
997, provided that: "The amendments made by this section [amending
this section] shall take effect on the date of the enactment of
this Act [Aug. 8, 2005]."
EFFECTIVE DATE OF 2004 AMENDMENTS
Pub. L. 108-357, title III, Sec. 319(e), Oct. 22, 2004, 118 Stat.
1473, provided that: "The amendments made by this section [amending
this section and sections 512 and 1381 of this title] shall apply
to taxable years beginning after the date of the enactment of this
Act [Oct. 22, 2004]."
Pub. L. 108-218, title II, Sec. 206(e), Apr. 10, 2004, 118 Stat.
611, provided that:
"(1) In general. - Except as provided in paragraph (2), the
amendments made by this section [amending this section and section
831 of this title] shall apply to taxable years beginning after
December 31, 2003.
"(2) Transition rule for companies in receivership or
liquidation. - In the case of a company or association which -
"(A) for the taxable year which includes April 1, 2004, meets
the requirements of section 501(c)(15)(A) of the Internal Revenue
Code of 1986, as in effect for the last taxable year beginning
before January 1, 2004, and
"(B) on April 1, 2004, is in a receivership, liquidation, or
similar proceeding under the supervision of a State court,
the amendments made by this section shall apply to taxable years
beginning after the earlier of the date such proceeding ends or
December 31, 2007."
EFFECTIVE DATE OF 2003 AMENDMENT
Pub. L. 108-121, title I, Sec. 105(b), Nov. 11, 2003, 117 Stat.
1338, provided that: "The amendments made by this section [amending
this section] shall apply to taxable years beginning after the date
of the enactment of this Act [Nov. 11, 2003]."
Pub. L. 108-121, title I, Sec. 108(b), Nov. 11, 2003, 117 Stat.
1341, provided that: "The amendments made by this section [amending
this section] shall apply to designations made before, on, or after
the date of the enactment of this Act [Nov. 11, 2003]."
EFFECTIVE AND TERMINATION DATES OF 2001 AMENDMENT
Amendment by Pub. L. 107-16 applicable to years beginning after
Dec. 31, 2001, see section 611(i)(1) of Pub. L. 107-16, set out as
a note under section 415 of this title.
Amendment by Pub. L. 107-16 inapplicable to taxable, plan, or
limitation years beginning after Dec. 31, 2010, and the Internal
Revenue Code of 1986 to be applied and administered to such years
as if such amendment had never been enacted, see section 901 of
Pub. L. 107-16, set out as a note under section 1 of this title.
EFFECTIVE DATE OF 1997 AMENDMENTS
Amendment by section 101(c) of Pub. L. 105-34 applicable to
taxable years beginning after Dec. 31, 1997, see section 101(e) of
Pub. L. 105-34, set out as an Effective Date note under section 24
of this title.
Section 963(c) of Pub. L. 105-34 provided that: "The amendments
made by this section [amending this section] shall apply to taxable
years beginning after December 31, 1997."
Section 974(b) of Pub. L. 105-34 provided that: "The amendment
made by subsection (a) [amending this section] shall apply to
taxable years beginning after December 31, 1996."
Section 4041(b) of Pub. L. 105-33 provided that: "The amendment
made by subsection (a) [amending this section] shall take effect on
the date of the enactment of this Act [Aug. 5, 1997]."
EFFECTIVE DATE OF 1996 AMENDMENTS
Section 341(b) of Pub. L. 104-191 provided that: "The amendment
made by this section [amending this section] shall apply to taxable
years beginning after December 31, 1996."
Section 342(b) of Pub. L. 104-191 provided that: "The amendment
made by this section [amending this section] shall apply to taxable
years ending after the date of the enactment of this Act [Aug. 21,
1996]."
Section 1114(b) of Pub. L. 104-188 provided that: "The amendment
made by subsection (a) [amending this section] shall apply to
taxable years beginning after the date of the enactment of this Act
[Aug. 20, 1996]."
Section 1311(d)(3) of Pub. L. 104-168 provided that:
"(A) In general. - The amendment made by subsection (b) [amending
this section] shall apply to inurement occurring on or after
September 14, 1995.
"(B) Binding contracts. - The amendment made by subsection (b)
shall not apply to any inurement occurring before January 1, 1997,
pursuant to a written contract which was binding on September 13,
1995, and at all times thereafter before such inurement occurred."
EFFECTIVE DATE OF 1993 AMENDMENT
Section 13146(c) of Pub. L. 103-66 provided that: "The amendments
made by this section [amending this section] shall apply to taxable
years beginning on or after January 1, 1994."
EFFECTIVE DATE OF 1992 AMENDMENT
Amendment by Pub. L. 102-486 applicable to taxable years
beginning after Dec. 31, 1991, see section 1940(d) of Pub. L. 102-
486, set out as a note under section 192 of this title.
EFFECTIVE DATE OF 1989 AMENDMENT
Section 1402(b) of Pub. L. 101-73 provided that: "The amendment
made by subsection (a) [amending this section] shall take effect on
the date of the enactment of this Act [Aug. 9, 1989]."
EFFECTIVE DATE OF 1988 AMENDMENT
Amendment by section 1011(c)(7)(D) of Pub. L. 100-647 applicable
to plan years beginning after Dec. 31, 1987, with exception in case
of a plan described in section 1105(c)(2) of Pub. L. 99-514, see
section 1011(c)(7)(E) of Pub. L. 100-647, set out as a note under
section 401 of this title.
Section 1016(a)(1)(B) of Pub. L. 100-647 provided that: "The
amendment made by subparagraph (A) [amending this section] shall
apply with respect to property acquired by the organization after
June 10, 1987, except that such amendment shall not apply to any
property acquired after June 10, 1987, pursuant to a binding
written contract in effect on June 10, 1987, and at all times
thereafter before such acquisition."
Amendment by sections 1010(b)(4), 1016(a)(2)-(4), and
1018(u)(14), (15), (34) of Pub. L. 100-647 effective, except as
otherwise provided, as if included in the provision of the Tax
Reform Act of 1986, Pub. L. 99-514, to which such amendment
relates, see section 1019(a) of Pub. L. 100-647, set out as a note
under section 1 of this title.
Section 2003(a)(3) of Pub. L. 100-647 provided that: "The
amendments made by this subsection [amending this section] shall
apply to taxable years ending after the date of the enactment of
the Omnibus Budget Reconciliation Act of 1986 [Oct. 21, 1986]."
Section 6202(b) of Pub. L. 100-647 provided that: "The amendment
made by subsection (a) [amending this section] shall apply to
purchases before, on, or after the date of the enactment of this
Act [Nov. 10, 1988]."
EFFECTIVE DATE OF 1987 AMENDMENT
Amendment by Pub. L. 100-203 applicable with respect to
activities after Dec. 22, 1987, see section 10711(c) of Pub. L. 100-
203, set out as a note under section 170 of this title.
EFFECTIVE DATE OF 1986 AMENDMENTS
Amendment by section 1012(a) of Pub. L. 99-514 applicable to
taxable years beginning after Dec. 31, 1986, see section 1012(c) of
Pub. L. 99-514, set out as an Effective Date note under section 833
of this title.
Amendment by section 1024(b) of Pub. L. 99-514 applicable to
taxable years beginning after Dec. 31, 1986, see section 1024(e) of
Pub. L. 99-514, set out as a note under section 831 of this title.
Amendment by section 1109(a) of Pub. L. 99-514 applicable to
taxable years beginning after Dec. 31, 1986, see section 1109(c) of
Pub. L. 99-514, set out as a note under section 219 of this title.
Amendment by section 1114(b)(14) of Pub. L. 99-514 applicable to
years beginning after Dec. 31, 1986, see section 1114(c)(1) of Pub.
L. 99-514, set out as a note under section 414 of this title.
Section 1603(c) of Pub. L. 99-514 provided that: "The amendments
made by this section [amending this section and section 514 of this
title] shall apply to taxable years beginning after December 31,
1986."
Section 1879(k)(2) of Pub. L. 99-514 provided that: "The
amendments made by this subsection [amending this section] shall
apply to taxable years ending after August 13, 1981."
Amendment by Pub. L. 99-272 effective Jan. 1, 1986, with certain
exceptions, see section 11019 of Pub. L. 99-272, set out as a note
under section 1341 of Title 29, Labor.
EFFECTIVE DATE OF 1984 AMENDMENT
Amendment by section 1032 of Pub. L. 98-369 applicable to taxable
years beginning after July 18, 1984, see section 1032(c) of Pub. L.
98-369, set out as a note under section 170 of this title.
Amendment by section 2813(b) of Pub. L. 98-369 effective Oct. 1,
1979, see section 2813(c) of Pub. L. 98-369, set out as an
Effective Date note under section 1795k of Title 12, Banks and
Banking.
EFFECTIVE DATE OF 1983 AMENDMENT
Amendment by Pub. L. 97-448 effective as if included in the
provisions of the Tax Equity and Fiscal Responsibility Act of 1982,
Pub. L. 97-248, to which such amendment relates, see section 311(d)
of Pub. L. 97-448, set out as a note under section 31 of this
title.
EFFECTIVE DATE OF 1982 AMENDMENT
Section 286(c) of Pub. L. 97-248 provided that: "The amendments
made by this section [amending this section and sections 170, 2055,
and 2522 of this title] shall take effect on October 5, 1976."
Section 354(c) of Pub. L. 97-248 provided that: "The amendments
made by subsections (a) and (b) [amending this section] shall apply
to taxable years beginning after the date of the enactment of this
Act [Sept. 3, 1982]."
EFFECTIVE DATE OF 1981 AMENDMENT
Amendment by Pub. L. 97-119 effective Jan. 1, 1982, see section
103(d)(1) of Pub. L. 97-119, set out as an Effective Date note
under section 9501 of this title.
EFFECTIVE DATE OF 1980 AMENDMENTS
Section 106(c)(1) of Pub. L. 96-605, as amended by Pub. L. 99-
514, Sec. 2, Oct. 22, 1986, 100 Stat. 2095, provided that: "The
amendments made by subsection (a) [amending this section] shall
apply to all taxable years to which the Internal Revenue Code of
1986 [formerly I.R.C. 1954] applies."
Section 3(b) of Pub. L. 96-601 provided that: "The amendment made
by subsection (a) [amending this section] shall apply to taxable
years beginning after October 20, 1976."
Amendment by Pub. L. 96-364 applicable to taxable years ending
after Sept. 26, 1980, see section 210(c) of Pub. L. 96-364, set out
as an Effective Date note under section 418 of this title.
Amendment by Pub. L. 96-222 effective, except as otherwise
provided, as if it had been included in the provisions of the
Revenue Act of 1978, Pub. L. 95-600, to which such amendment
relates, see section 201 of Pub. L. 96-222, set out as an Effective
Date of 1980 Amendment note under section 32 of this title.
EFFECTIVE DATE OF 1978 AMENDMENTS
Amendment by section 703(b)(2), (g)(2)(B) of Pub. L. 95-600
effective on Oct. 4, 1976, see section 703(r) of Pub. L. 95-600,
set out as a note under section 46 of this title.
Section 703(g)(2)(C) of Pub. L. 95-600 provided that: "The
amendments made by this paragraph [amending this section] shall
take effect on October 20, 1976, as if included in Public Law 94-
568."
Section 1(b) of Pub. L. 95-345 provided that: "The amendment made
by subsection (a) [amending this section] shall apply to taxable
years beginning after December 31, 1974."
Amendment by Pub. L. 95-227 applicable with respect to
contributions, acts, and expenditures made after Dec. 31, 1977, in
and for taxable years beginning after such date, see section 4(f)
of Pub. L. 95-227, set out as a note under section 192 of this
title.
EFFECTIVE DATE OF 1976 AMENDMENTS
Section 1(d) of Pub. L. 94-568 provided that: "The amendments
made by this section [amending this section and sections 277 and
512 of this title] shall apply to taxable years beginning after the
date of the enactment of this Act [Oct. 20, 1976]."
Section 2(b) of Pub. L. 94-568 provided that: "The amendment made
by subsection (a) [amending this section] shall apply to taxable
years beginning after the date of the enactment of this Act [Oct.
20, 1976]."
Section 1307(e) of Pub. L. 94-455 provided that: "The amendments
made by this section [amending this section and sections 170, 275,
2055, 2106, 2522, 6104, 6161, 6201, 6211, 6212, 6213, 6214, 6344,
6501, 6512, 6601, and 7422 of this title and enacting sections 504
and 4911 of this title] shall apply -
"(1) except as otherwise specified in paragraph (2), in the
case of amendments to subtitle A, to taxable years beginning
after December 31, 1976;
"(2) in the case of the amendments made by subsection (a)(2)
[enacting section 504 of this title], to activities occurring
after the date of the enactment of this Act [Oct. 4, 1976];
"(3) in the case of amendments to chapter 11, to the estates of
decedents dying after December 31, 1976;
"(4) in the case of amendments to chapter 12, to gifts in
calendar years beginning after December 31, 1976;
"(5) in the case of amendments to subtitle D, to taxable years
beginning after December 31, 1976; and
"(6) in the case of amendments to subtitle F, on and after the
date of the enactment of this Act [Oct. 4, 1976]."
Section 1312(b) of Pub. L. 94-455 provided that: "The amendment
made by this section [amending this section] shall apply to taxable
years ending after December 31, 1976."
Section 1313(d) of Pub. L. 94-455 provided that: "The amendments
made by this section [amending this section and sections 170, 2055,
and 2522 of this title] shall apply on the day following the date
of the enactment of this Act [Oct. 4, 1976]."
Section 2113(b) of Pub. L. 94-455 provided that: "The amendment
made by this section [amending this section] applies to taxable
years ending after December 31, 1975."
EFFECTIVE DATE OF 1975 AMENDMENT
Amendment by Pub. L. 93-625 applicable to taxable years beginning
after Dec. 31, 1974, see section 10(e) of Pub. L. 93-625, set out
as an Effective Date note under section 527 of this title.
EFFECTIVE DATE OF 1974 AMENDMENT
Section 3(b) of Pub. L. 93-310 provided that: "The amendments
made by this section [amending this section] shall apply to taxable
years ending after December 31, 1973."
EFFECTIVE DATE OF 1972 AMENDMENT
Section 1(c) of Pub. L. 92-418 provided that: "The amendments
made by this section [amending this section and section 512 of this
title] shall apply to taxable years beginning after December 31,
1969."
EFFECTIVE DATE OF 1970 AMENDMENT
Section 2 of Pub L. 91-618 provided that: "The amendment made by
the first section of this Act [amending this section] shall apply
to taxable years ending after the date of enactment of this Act
[Dec. 31, 1970]."
EFFECTIVE DATE OF 1969 AMENDMENT
Amendment by section 101(j)(3) of Pub. L. 91-172 effective Jan.
1, 1970, except that amendment of subsec. (a) of this section
applicable to taxable years beginning after Dec. 31, 1969, see
section 101(k)(1), (2)(B) of Pub. L. 91-172, set out as an
Effective Date note under section 4940 of this title.
Amendment by section 121(b)(5)(A), (6)(A) of Pub. L. 91-172
applicable to taxable years beginning after Dec. 31, 1969, see
section 121(g) of Pub. L. 91-172, set out as a note under section
511 of this title.
EFFECTIVE DATE OF 1968 AMENDMENT
Section 109(b) of Pub. L. 90-364 provided that: "The amendments
made by subsection (a) [amending this section] shall apply to
taxable years ending after the date of the enactment of this Act
[June 28, 1968]."
EFFECTIVE DATE OF 1966 AMENDMENTS
Section 6(c) of Pub. L. 89-800 provided that: "The amendment made
by subsection (a) [amending this section] shall apply to taxable
years ending after the date of the enactment of this Act [Nov. 8,
1966]."
Section 3 of Pub. 89-352 provided in part that: "The amendment
made by the first section of this Act [amending this section] shall
apply to taxable years ending after the date of the enactment of
this Act [Feb. 2, 1966]."
EFFECTIVE DATE OF 1962 AMENDMENT
Section 8(h) of Pub. L. 87-834 provided that: "The amendments
made by this section [enacting sections 823 to 826 of this title,
amending this section and sections 821, 822, 832, 841, 1016, and
1201 of this title, and redesignating former section 823 as section
822(f) of this title] (other than by subsection (f) [amending
section 831 of this title]) shall apply with respect to taxable
years beginning after December 31, 1962."
EFFECTIVE DATE OF 1960 AMENDMENTS
Section 6 of Pub. L. 86-667 provided that:
"(a) Except as provided in subsection (b), the amendments made by
this Act [amending this section and sections 503, 511, 513, and 514
of this title] shall apply to taxable years beginning after
December 31, 1959.
"(b) In the case of loans, the amendments made by section 2 of
this Act [amending section 503 of this title] shall apply only to
loans made, renewed, or continued after December 31, 1959."
Section 2 of Pub. L. 86-428 provided that: "The amendment made by
this Act [amending this section] shall apply only with respect to
taxable years beginning after December 31, 1959."
EFFECTIVE DATE OF 1956 AMENDMENT
Amendment by act Mar. 13, 1956, applicable only to taxable years
beginning after Dec. 31, 1954, see section 6 of act Mar. 13, 1956,
set out as a note under section 316 of this title.
REGULATIONS
Secretary of the Treasury or his delegate to issue before Feb. 1,
1988, final regulations to carry out amendments made by section
1114 of Pub. L. 99-514, see section 1141 of Pub. L. 99-514, set out
as a note under section 401 of this title.
PAYMENTS BY CHARITABLE ORGANIZATIONS TREATED AS EXEMPT PAYMENTS
Pub. L. 107-134, title I, Sec. 104, Jan. 23, 2002, 115 Stat.
2431, provided that:
"(a) In General. - For purposes of the Internal Revenue Code of
1986 -
"(1) payments made by an organization described in section
501(c)(3) of such Code by reason of the death, injury, wounding,
or illness of an individual incurred as the result of the
terrorist attacks against the United States on September 11,
2001, or an attack involving anthrax occurring on or after
September 11, 2001, and before January 1, 2002, shall be treated
as related to the purpose or function constituting the basis for
such organization's exemption under section 501 of such Code if
such payments are made in good faith using a reasonable and
objective formula which is consistently applied; and
"(2) in the case of a private foundation (as defined in section
509 of such Code), any payment described in paragraph (1) shall
not be treated as made to a disqualified person for purposes of
section 4941 of such Code.
"(b) Effective Date. - This section shall apply to payments made
on or after September 11, 2001."
SPECIAL RULE FOR CERTAIN COOPERATIVES
Section 1311(b)(2) of Pub. L. 104-168 provided that: "In the case
of an organization operating on a cooperative basis which, before
the date of the enactment of this Act [July 30, 1996], was
determined by the Secretary of the Treasury or his delegate, to be
described in section 501(c)(4) of the Internal Revenue Code of 1986
and exempt from tax under section 501(a) of such Code, the
allocation or return of net margins or capital to the members of
such organization in accordance with its incorporating statute and
bylaws shall not be treated for purposes of such Code as the
inurement of the net earnings of such organization to the benefit
of any private shareholder or individual. The preceding sentence
shall apply only if such statute and bylaws are substantially as
such statute and bylaws were in existence on the date of the
enactment of this Act."
APPLICATION OF PUB. L. 100-647 TO SECTION 501(C)(3) BONDS
Section 1013(i) of Pub. L. 100-647 provided that: "In accordance
with section 1302 of the Reform Act [Pub. L. 99-514, set out as a
note below], each amendment and other provision of this Act [see
Tables for classification] which applies to private activity bonds
shall, unless otherwise expressly provided, apply to qualified
501(c)(3) bonds."
CANCELLATION OF CERTAIN DEBTS ORIGINATED BY OR GUARANTEED BY UNITED
STATES NOT TAKEN INTO ACCOUNT IN DETERMINING TAX EXEMPT STATUS OF
CERTAIN ORGANIZATIONS
Section 6203 of Pub. L. 100-647 provided that: "Subparagraph (A)
of section 501(c)(12) of the 1986 Code shall be applied without
taking into account any income attributable to the cancellation of
any loan originally made or guaranteed by the United States (or any
agency or instrumentality thereof) if such cancellation occurs
after 1986 and before 1990."
PLAN AMENDMENTS NOT REQUIRED UNTIL JANUARY 1, 1989
For provisions directing that if any amendments made by subtitle
A or subtitle C of title XI [Secs. 1101-1147 and 1171-1177] or
title XVIII [Secs. 1800-1899A] of Pub. L. 99-514 require an
amendment to any plan, such plan amendment shall not be required to
be made before the first plan year beginning on or after Jan. 1,
1989, see section 1140 of Pub. L. 99-514, as amended, set out as a
note under section 401 of this title.
TREATMENT OF SECTION 501(C)(3) BONDS
Section 1302 of title XIII of Pub. L. 99-514 provided that:
"Nothing in the treatment of section 501(c)(3) bonds as private
activity bonds under the amendments made by this title [enacting
sections 141 to 150 and 7703 of this title, amending sections 2,
22, 25, 32, 86, 103, 105, 152, 153, 163, 172, 194, 269A, 414, 879,
1016, 1398, 3402, 4701, 4940, 4942, 4988, 6362, 6652, and 7871 of
this title, repealing sections 103A, 1391 to 1397, and 6039B of
this title, enacting provisions set out as notes under sections 141
and 148 of this title, and amending provisions set out as a note
under section 103A of this title] shall be construed as indicating
how section 501(c)(3) bonds will be treated in future legislation,
and any change in future legislation applicable to private activity
bonds shall apply to section 501(c)(3) bonds only if expressly
provided in such legislation."
TAX-EXEMPT STATUS FOR ORGANIZATION INTRODUCING INTO PUBLIC USE
TECHNOLOGY DEVELOPED BY QUALIFIED ORGANIZATIONS
Section 1605 of Pub. L. 99-514 provided that:
"(a) In General. - For purposes of the Internal Revenue Code of
1986, an organization shall be treated as an organization organized
and operated exclusively for charitable purposes if such
organization -
"(1) is organized and operated exclusively -
"(A) to provide for (directly or by arranging for and
supervising the performance by independent contractors) -
"(i) reviewing technology disclosures from qualified
organizations,
"(ii) obtaining protection for such technology through
patents, copyrights, or other means, and
"(iii) licensing, sale, or other exploitation of such
technology,
"(B) to distribute the income therefrom, to such qualified
organizations after paying expenses and other amounts as agreed
with the originating qualified organizations, and
"(C) to make research grants to such qualified organizations,
"(2) regularly provides the services and research grants
described in paragraph (1) exclusively to 1 or more qualified
organizations, except that research grants may be made to such
qualified organizations through an organization which is
controlled by 1 or more organizations each of which -
"(A) is an organization described in section 501(c)(3) of the
Internal Revenue Code of 1986 or the income of which is
excluded from taxation under section 115 of such Code, and
"(B) may be a recipient of the services or research grants
described in paragraph (1),
"(3) derives at least 80 percent of its gross revenues from
providing services to qualified organizations located in the same
State as the State in which such organization has its principal
office, and
"(4) was incorporated on July 20, 1981.
"(b) Qualified Organizations. - For purposes of this section, the
term 'qualified organization' has the same meaning given to such
term by subparagraphs (A) and (B) of section 41(e)(6) (as
redesignated by section 231(d)(2)) of the Internal Revenue Code of
1986.
"(c) Treatment of Investment in a Technology Transfer Service
Organization. -
"(1) In general. - A qualified investment made by a private
foundation in an organization described in subparagraph (C) shall
be treated as an investment described in section 4944(c) of the
Internal Revenue Code of 1986 and shall not result in imposition
of taxes under section 4941, 4943, 4944, 4945, or 507(c) of such
Code.
"(2) Definitions. - For purposes of this subsection -
"(A) Qualified investment. - The term 'qualified investment'
means a transfer by a private foundation of -
"(i) all of the patents, copyrights, know-how, and other
technology or rights thereto of the private foundation, and
"(ii) investment assets, net receivables, and cash not
exceeding $35,000,000,
to such organization in exchange for debt.
"(B) Private foundation. - The term 'private foundation'
means -
"(i) a nonprofit corporation which was incorporated before
1913 which is described in sections 501(c)(3) and 509(a) of
such Code, and which is exempt from taxation under section
501(a) of such Code, and
"(ii) the principal purposes of which are to support
research by and to provide technology transfer services to
organizations described in section 170(b)(1)(A) of such Code -

"(I) which are exempt from taxation under section 501(a) of
such Code, or
"(II) the income of which is excluded from taxation under
section 115 of such Code.
"(C) Technology transfer organization. - The term 'technology
transfer organization' means a corporation established after
the date of the enactment of this Act [Oct. 22, 1986] -
"(i) which is organized and operated to advance the public
welfare through the provision of technology transfer services
to research organizations,
"(ii) no part of the net earnings of which inures to the
benefit of, or is distributable to, any private shareholder,
individual, or entity, other than a private foundation or
research organization,
"(iii) which does not participate in, or intervene in
(including the publishing or distributing of statements) any
political campaign on behalf of any candidate for public
office,
"(iv) no substantial part of the activities of which is
carrying on propaganda, or otherwise attempting, to influence
legislation, and
"(v) upon liquidation or dissolution of which all of its
net assets can be distributed only to research organizations.
"(d) Effective Date. - This section shall take effect on the date
of the enactment of this Act [Oct. 22, 1986]."
APPLICABILITY OF 1976 AMENDMENT TO CERTAIN ORGANIZATIONS
Section 1313(c) of Pub. L. 94-455, as amended by Pub. L. 99-514,
Sec. 2, Oct. 22, 1986, 100 Stat. 2095, provided that: "An
organization which (without regard to the amendments made by this
section [amending this section and sections 170, 2055, and 2522 of
this title]) is an organization described in section 170(c)(2)(B),
501(c)(3), 2055(a)(2), or 2522(a)(2) of the Internal Revenue Code
of 1986 [formerly I.R.C. 1954] shall not be treated as an
organization not so described as a result of the amendments made by
this section."
TAX EXEMPTION FOR CERTAIN PUERTO RICAN PENSION, ETC., PLANS
Section 1022(i) of Pub. L. 93-406, title II, Sept. 2, 1974, 88
Stat. 942, as amended by Pub. L. 99-514, Sec. 2, Oct. 22, 1986, 100
Stat. 2095, provided that:
"(1) General rule. - Effective for taxable years beginning after
December 31, 1973, for purposes of section 501(a) of the Internal
Revenue Code of 1986 [formerly I.R.C. 1954] (relating to exemption
from tax), any trust forming part of a pension, profit-sharing, or
stock bonus plan all of the participants of which are residents of
the Commonwealth of Puerto Rico shall be treated as an organization
described in section 401(a) of such Code if such trust -
"(A) forms part of a pension, profit-sharing, or stock bonus
plan, and
"(B) is exempt from income tax under the laws of the
Commonwealth of Puerto Rico.
"(2) Election to have provisions of, and amendments made by,
title ii of this act apply. -
"(A) If the administrator of a pension, profit-sharing, or
stock bonus plan which is created or organized in Puerto Rico
elects, at such time and in such manner as the Secretary of the
Treasury may require, to have the provisions of this paragraph
apply, for plan years beginning after the date of election any
trust forming a part of such plan shall be treated as a trust
created or organized in the United States for purposes of section
401(a) of the Internal Revenue Code of 1986.
"(B) An election under subparagraph (A), once made, is
irrevocable.
"(C) This paragraph applies to plan years beginning after the
date of enactment of this Act [Sept. 2, 1974]
"(D) The source of any distributions made under a plan which
makes an election under this paragraph to participants and
beneficiaries residing outside of the United States shall be
determined, for purposes of subchapter N of chapter 1 of the
Internal Revenue Code of 1986 by the Secretary of the Treasury in
accordance with regulations prescribed by him. For purposes of
this subparagraph the United States means the United States as
defined in section 7701(a)(9) of the Internal Revenue Code of
1986."
EXCHANGES FOR SALE OF POULTRY
Pub. L. 89-44, title VIII, Sec. 811, June 21, 1965, 79 Stat. 169,
provided that certain corporations, associations, or organizations
organized and operated exclusively for the purpose of providing an
exchange for the sale of poultry growers of a particular locality
shall be treated for purposes of this title as an exempt
organization and that such exemption shall apply to taxable years
beginning after Dec. 31, 1953, and ending after Aug. 16, 1954,
which begin before Jan. 1, 1966.
(!1) See References in Text note below.

(!2) So in original. Probably should be followed by a period.
(!3) So in original.
(!4) So in original. Probably should be capitalized.
(!5) See References in Text note below.