§ 1953. Tax treatment of Fund  


Latest version.
  • (a) Contributions to Fund

    For purposes of title 26, 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 title 26.

    (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 title 26, notwithstanding section 501(c)(1)(A) of title 26, the Fund shall be treated as described in section 501(c)(1) of title 26 and exempt from tax under section 501(a) of title 26.

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

Codification

Codification

Section was classified to section 207c–2 of former Title 40, prior to the enactment of Title 40, Public Buildings, Property, and Works, by Pub. L. 107–217, § 1, Aug. 21, 2002, 116 Stat. 1062.