Source: http://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section509&num=0&edition=prelim
Timestamp: 2018-08-21 07:57:00
Document Index: 60926196

Matched Legal Cases: ['§ 509', '§101', '§3', '§2', '§1221', '§1241', '§1221', '§1241', '§2', '§2', '§3', '§1241', '§1241']

[USC10] 26 USC 509: Private foundation defined
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26 USC 509: Private foundation defined Text contains those laws in effect on August 20, 2018
From Title 26-INTERNAL REVENUE CODESubtitle A-Income TaxesCHAPTER 1-NORMAL TAXES AND SURTAXESSubchapter F-Exempt OrganizationsPART II-PRIVATE FOUNDATIONS
For purposes of this part and chapter 42, the term "support" includes (but is not limited to)-
For purposes of subsection (a)(3)(B), an organization shall not be considered to be-
A person is described in this subparagraph if, with respect to a supported organization of an organization described in subparagraph (A), such person is-
For purposes of this subsection, the term "supported organization" means, with respect to an organization described in subsection (a)(3), an organization described in paragraph (1) or (2) of subsection (a)-
(Added Pub. L. 91–172, title I, §101(a), Dec. 30, 1969, 83 Stat. 496 ; amended Pub. L. 94–81, §3(a), Aug. 9, 1975, 89 Stat. 418 ; Pub. L. 95–345, §2(a)(1), Aug. 15, 1978, 92 Stat. 481 ; Pub. L. 109–280, title XII, §§1221(a)(2), 1241(a), (b), Aug. 17, 2006, 120 Stat. 1089 , 1102.)
2006-Subsec. (a)(3)(B). Pub. L. 109–280, §1241(a), amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: "is operated, supervised, or controlled by or in connection with one or more organizations described in paragraph (1) or (2), and". See Codification note above.
1978-Subsec. (e). Pub. L. 95–345 inserted provision relating to payments with respect to securities loans.
1975-Subsec. (a)(2)(B). Pub. L. 94–81 designated existing provisions as cl. (i) and added cl. (ii).
Pub. L. 109–280, title XII, §1221(c), Aug. 17, 2006, 120 Stat. 1089 , provided that: "The amendments made by this section [amending this section and section 4940 of this title] shall apply to taxable years beginning after the date of the enactment of this Act [Aug. 17, 2006]."
Pub. L. 109–280, title XII, §1241(e), Aug. 17, 2006, 120 Stat. 1103 , provided that:
"(1) In general.-The amendments made by subsections (a) and (b) [amending this section] shall take effect on the date of the enactment of this Act [Aug. 17, 2006].
"(2) Charitable trusts which are type iii supporting organizations.-Subsection (c) [enacting provisions set out as a note below] shall take effect-
Pub. L. 95–345, §2(e), Aug. 15, 1978, 92 Stat. 483 , as amended by Pub. L. 99–514, §2, Oct. 22, 1986, 100 Stat. 2095 , provided that: "The amendments made by this section [enacting section 1058 of this title and amending sections 509, 512, 514, 851, and 4940 of this title] apply with respect to-
Pub. L. 94–81, §3(b), Aug. 9, 1975, 89 Stat. 418 , provided that: "The amendment made by this section [amending this section] shall apply to unrelated business taxable income derived from trades and businesses which are acquired by the organization after June 30, 1975."
Pub. L. 109–280, title XII, §1241(c), Aug. 17, 2006, 120 Stat. 1103 , provided that: "For purposes of section 509(a)(3)(B)(iii) of the Internal Revenue Code of 1986, an organization which is a trust shall not be considered to be operated in connection with any organization described in paragraph (1) or (2) of section 509(a) of such Code solely because-
Pub. L. 109–280, title XII, §1241(d), Aug. 17, 2006, 120 Stat. 1103 , provided that:
"(1) In general.-The Secretary of the Treasury shall promulgate new regulations under section 509 of the Internal Revenue Code of 1986 on payments required by type III supporting organizations which are not functionally integrated type III supporting organizations. Such regulations shall require such organizations to make distributions of a percentage of either income or assets to supported organizations (as defined in section 509(f)(3) of such Code) in order to ensure that a significant amount is paid to such organizations.
"(2) Type iii supporting organization; functionally integrated type iii supporting organization.-For purposes of paragraph (1), the terms 'type III supporting organization' and 'functionally integrated type III supporting organization' have the meanings given such terms under subparagraphs (A) and (B) section 4943(f)(5) of the Internal Revenue Code of 1986 (as added by this Act), respectively."