An Act to amend the Internal Revenue Code of 1954 to exempt from taxation certain nonprofit corporations or associations organized after August 31, 1951
PL 86-428 (H.R.6155), enacted 04/22/1960

54 
PUBLIC LAW 86-427-APR. 22, 1960 
[74 
STAT. 
Effective date. 
(b) Section 2 of the joint resolution approved May 21, 1937, as 
amended (53 Stat. 802; 2 U.S.C. 60e), is amended by striking out 
"The Secretary of tlie Senate and the Clerk of the House of Eepre-
sentatives are authorized and directed to pay to the officers and 
employees of the Senate and House of Representatives", and inserting 
in lieu thereof "The Clerk of the House of Representatives is author-
ized and directed to pay to the officers and employees of the House 
of Representatives''. 
(c) The last paragraph under the heading "Contingent Expense 
of the House" in the First Deficiency Appropriation Act, 1946 (59 
Stat. 633; 2 U.S.C. 60e-l), is amended to read as follows: 
"Whenever the usual day for paying salaries in or under the House 
of Representatives falls on Saturday, such salaries may be paid on 
the preceding workday." 
SEC. 3. This joint resolution shall be effective with respect to com-
pensation accruing on or after the first day of the month following 
the month in which it is enacted. 
Approved April 20, 1960. 
AprU 22, 1960 
[H. R. 9820] 
Public Law 86-427 
AN ACT 
To extend the period during wliich certain tanning extracts, and extracts of hem-
lock or eucalyptus suitable for use for tanning, may be imported free of 
duty. 
T a n n i n g 
ma-
terials. 
Free 
i m p o r t a -
tion. 
1
9 use 
1201. 
100 1, 
Be it enacted hy the Senate and House of Representatives 
of the 
i'nited States of America in Congress assembled^ That the amend-
ments made by the following provisions of law shall continue in effect 
with respect to articles entered, or withdrawn from warehouse, for 
consumption before the close of September 30, 1963: 
(1) The first section of Public Law 85-235 (71 Stat. 516), 
approved August 30,1957 (amending paragraphs 38 and 1670(b) 
of the Tariff A.ct of 1930 to provide for the temporary free im-
portation of certain tanning extracts); 
(2) Section 4(a) of Public Law 85-645 (72 Stat. 602), approved 
August 14, 1958 (relating to the temporary free importation of 
certain extracts, decoctions, and preparations of eucalyptus suit-
able for use for tanning); and 
(3) The first section of Public Law 86-288 (73 Stat. 568), 
approved September 16, 1959 (relating to the temporary free 
importation, of certain extracts, decoctions, and preparations of 
hemlock suitable for use for tanning). 
Approved April 22, 1960. 
April 22, 1960 
[H. R. 6155] 
Tax exemption, 
credit unions. 
68A Stat. 163. 
26 u s e 
501(c) 
(14). 
Public Law 86-428 
AN ACT 
To amend the Internal Revenue Code of 1954 to exempt from taxation certain 
nonprofit corporations or associations organized after August 31, 1951. 
Be it enacted hy the Senate and House of Representatives 
of the 
United 
States 
of America 
in Congress assembled^ That section 
501(c) (14) of the Internal Revenue Code of 1954 is amended by strik-
ing out "1951" and inserting in lieu thereof "1957". 
SEC 2. The amendment made by this Act shall apply only with re-
spect to taxable years beginning after December 31, 1959. 
Approved April 22, 1960.