§ 1953. Tax treatment of Fund

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1998

   Pub. L. 105–223 § 3 · 112 Stat. 1250

   Enacted · 2 U.S.C. § 1953

   (Pub. L. 105–223, § 3, Aug. 7, 1998, 112 Stat. 1250.)

   Source evidence

   Code source credit
   (Pub. L. 105–223, § 3, Aug. 7, 1998, 112 Stat. 1250.)

   Enacted provision · exact public law section
   SEC. 3. 40 USC 207c–2. TAX TREATMENT OF FUND. (a) Contributions to Fund.— For purposes of the Internal Revenue Code of 1986, any contribution or gift to or for the use of the Fund shall be treated as a contribution or gift for exclusively public purposes to or for the use of an organization described in section 170(c)(1) of such Code. (b) Treatment of Payments From Fund.— Any payment from the Fund shall not be subject to any Federal, State, or local income or gift tax. (c) Exemption.— For purposes of such Code, notwithstanding section 501(c)(1)(A) of such Code, the Fund shall be treated as described in section 501(c)(1) of such Code and exempt from tax under section 501(a) of such Code.

1 of 1 references resolved to an enrolled provision