Notes on 26 U.S.C. § 511 : US Code - Notes

Search Notes on 26 U.S.C. § 511 : US Code - Notes

(Aug. 16, 1954, ch. 736, 68A Stat. 169; Pub. L. 86-667, Sec. 3,
July 14, 1960, 74 Stat. 535; Pub. L. 89-352, Sec. 2, Feb. 2, 1966,
80 Stat. 4; Pub. L. 91-172, title I, Sec. 121(a)(1)-(3), title III,
Sec. 301(b)(8), title VIII, Sec. 803(d)(2), Dec. 30, 1969, 83 Stat.
536, 585, 684; Pub. L. 95-30, title I, Sec. 101(d)(6), May 23,
1977, 91 Stat. 133; Pub. L. 95-600, title III, Sec. 301(b)(5),
title IV, Sec. 421(e)(3), Nov. 6, 1978, 92 Stat. 2821, 2876; Pub.
L. 97-248, title II, Sec. 201(d)(5), formerly Sec. 201(c)(5), Sept.
3, 1982, 96 Stat. 419, renumbered Sec. 201(d)(5), Pub. L. 97-448,
title III, Sec. 306(a)(1)(A)(i), Jan. 12, 1983, 96 Stat. 2400; Pub.
L. 100-647, title I, Sec. 1007(g)(6), Nov. 10, 1988, 102 Stat.
3435.)
AMENDMENTS
1988 - Subsec. (d). Pub. L. 100-647 struck out subsec. (d) which
read as follows: "Tax Preferences. -
"(1) Organizations taxable at corporate rates. - If an
organization is subject to tax on unrelated business taxable
income pursuant to subsection (a), the tax imposed by section 56
shall apply to such organizations with respect to items of tax
preference which enter into the computation of unrelated business
taxable income in the same manner as section 56 applies to
corporations.
"(2) Organizations taxable as trusts. - If an organization is
subject to tax on unrelated business taxable income pursuant to
subsection (b), the taxes imposed by section 55 shall apply to
such organization with respect to items of tax preference which
enter into the computation of unrelated business taxable income."
1982 - Subsec. (d)(2). Pub. L. 97-248 substituted "section 55"
for "section 55 and section 56 (as the case may be)".
1978 - Subsec. (a)(1). Pub. L. 95-600, Sec. 301(b)(5)(A),
substituted "a tax" for "a normal tax and a surtax".
Subsec. (a)(2). Pub. L. 95-600, Sec. 301(b)(5)(B), substituted
"tax" for "taxes" wherever appearing.
Subsec. (d). Pub. L. 95-600, Sec. 421(e)(3), substituted
provisions relating to organizations taxable at corporate rates and
organizations taxable as trusts, for provisions relating to
imposition of the tax imposed by section 56 of this title to an
organization subject to tax under this section for tax preferences
computed in unrelated business taxable income.
1977 - Subsec. (b)(1). Pub. L. 95-30 substituted "section 1(e)"
for "section 1(d)".
1969 - Subsec. (a)(2)(A). Pub. L. 91-172, Sec. 121(a)(1), removed
reference, in heading, to pars. (2), (3), (5), (6), (14)(B), (C),
and (17) of section 501(c) of this title, and, in text, struck out
exemptions to churches, conventions, or associations of churches,
from the imposition of tax on their unrelated business income, made
corporations organized under section 501(c)(1) of this title (i.e.
organized under Acts of Congress), exempt from such tax, but made
all such exemptions subservient to the exceptions in part II and
section 501(a) of this title.
Subsec. (b)(1). Pub. L. 91-172, Sec. 803(d)(2), substituted
section 1(d) for section 1 in reference to section under which the
computation of the tax dealing with the imposition of tax on the
unrelated business taxable income of trusts, is computed.
Subsec. (b)(2). Pub. L. 91-172, Sec. 121(a)(2), pluralized
"trust" in heading and in text made the imposition of tax on the
unrelated business income of exempt trusts subject to provisions of
part II, and, for purposes of determining trusts exempt from
taxation, substituted reference to section 501(a) for reference to
"section 501(c)(3) or (17) or section 401(a)".
Subsec. (c). Pub. L. 91-172, Sec. 121(a)(3), added subsec. (c).
Former subsec. (c), covering the effective date, was struck out.
Subsec. (d). Pub. L. 91-172, Sec. 301(b)(8), added subsec. (d).
1966 - Subsec. (a)(2)(A). Pub. L. 89-352 inserted "(14)(B) or
(C)," after "(6)," in heading and in text.
1960 - Subsec. (a)(2). Pub. L. 86-667, Sec. 3(a), included
organizations described in section 501(c)(17) within subpar. (A).
Subsec. (b). Pub. L. 86-667, Sec. 3(b), inserted a reference to
section 501(c)(17).
EFFECTIVE DATE OF 1988 AMENDMENT
Amendment by 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.
EFFECTIVE DATE OF 1982 AMENDMENT
Amendment by Pub. L. 97-248 applicable to taxable years beginning
after Dec. 31, 1982, see section 201(e)(1) of Pub. L. 97-248, set
out as a note under section 5 of this title.
EFFECTIVE DATE OF 1978 AMENDMENT
Amendment by section 301(b)(5)(A), (B) of Pub. L. 95-600
applicable to taxable years beginning after Dec. 31, 1978, see
section 301(c) of Pub. L. 95-600, set out as a note under section
11 of this title.
Amendment by section 421(e)(3) of Pub. L. 95-600 applicable to
taxable years beginning after Dec. 31, 1978, see section 421(g) of
Pub. L. 95-600, set out as a note under section 5 of this title.
EFFECTIVE DATE OF 1977 AMENDMENT
Amendment by Pub. L. 95-30 applicable to taxable years beginning
after Dec. 31, 1976, see section 106(a) of Pub. L. 95-30, set out
as a note under section 1 of this title.
EFFECTIVE DATE OF 1969 AMENDMENT
Section 121(g) of Pub. L. 91-172, as amended by Pub. L. 99-514,
Sec. 2, Oct. 22, 1986, 100 Stat. 2095, provided that: "The
amendments made by this section [amending this section and sections
48, 501, 502, 503, 512 to 514, 681, 801, 810, 1443, 1504, and 7605
of this title] (other than by subsections (b)(3) and (e) [enacting
sections 277 and 6050 of this title]) shall apply to taxable years
beginning after December 31, 1969. The amendments made by
subsection (b)(3) [enacting section 277 of this title] shall apply
to taxable years beginning after December 31, 1970. The amendments
made by subsection (e) [enacting section 6050 of this title] shall
apply with respect to transfers of property after December 31,
1969. Where an organization makes a bargain purchase of property
before October 9, 1969, which is subject to a mortgage which was
placed on the property more than 5 years before the purchase, and
the organization paid the seller a total amount no greater than the
amount of the seller's cost (including attorneys' fees) directly
related to the transfer of such property to the organization (but
in any event no more than 10 percent of the value of the seller's
equity in the property), the indebtedness secured by such mortgage
shall not be treated, notwithstanding the amendments made by
subsection (d)(1) [amending section 514 of this title], as
acquisition indebtedness for purposes of section 514(c)(1) of the
Internal Revenue Code of 1986 [formerly I.R.C. 1954] during a
period of 10 years following the date of the transaction."
Amendment by section 301(b)(8) of Pub. L. 91-172 applicable to
taxable years ending after Dec. 31, 1969, see section 301(c) of
Pub. L. 91-172, set out as a note under section 5 of this title.
Amendment by section 803(d)(2) of Pub. L. 91-172 applicable to
taxable years beginning after Dec. 31, 1970, see section 803(f) of
Pub. L. 91-172, set out as a note under section 1 of this title.
EFFECTIVE DATE OF 1966 AMENDMENT
Section 3 of Pub. L. 89-352 provided in part that: "The amendment
made by section 2 [amending this section] shall apply to taxable
years beginning after the date of the enactment of this Act [Feb.
2, 1966]."
EFFECTIVE DATE OF 1960 AMENDMENT
Amendment by Pub. L. 86-667 applicable to taxable years beginning
after Dec. 31, 1959, see section 6 of Pub. L. 86-667, set out as a
note under section 501 of this title.