2-U.S.C.-1953

§1953 – Tax Treatment of Fund

Pathway

Title 2 > Chapter 29 > Subchapter I > Part D > Section 1953

Details

• Reference: Section 1953
• Legend: §1953 – Tax Treatment of Fund
• USCode Year: 2013

Provision Content

(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

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.

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