Charitable Gift Annuity Antitrust Relief Act of 1995
PL 104-63 (H.R.2525), enacted 12/08/1995

PUBLIC LAW 104^3—DEC. 8, 1995 
109 STAT. 687 
Public Law 104-63 
104th Congress 
An Act 
To modify the operation of the antitrust laws, and of State laws similar to the 
Dec. 8, 1995 
antitrust laws, with respect to charitable gift annuities. 
[H.R. 2525] 
Be it enacted by the Senate and House of Representatives 
of 
the United States of America in Congress assembled, 
Charitable Gift 
Annuity 
SECTION 1. SHORT TITLE. 
Antitrust ReUef 
Act of 1995. 
This Act may be cited as the "Charitable Gift Annuity Antitrust 
15 USC i note. 
ReUefActof 1995". 
SEC. 2. MODIFICATION OF ANTITRUST LAWS. 
15 USC 37. 
(a) EXEMPT CONDUCT.—Except as provided in subsection (b), 
it shall not be unlawful under any of the antitrust laws, or under 
a State law similar to any of the antitrust laws, for 2 or more 
persons described in section 501(c)(3) of the Internal Revenue Code 
of 1986 (26 U.S.C. 501(c)(3)) that are exempt from taxation under 
section 501(a) of such Code to use, or to agree to use, the same 
annuity rate for the purpose of issuing 1 or more charitable gift 
annuities. 
(b) LIMITATION.—Subsection (a) shall not apply with respect 
to the enforcement of a State law similar to any of the antitrust 
laws, with respect to conduct described in subsection (a) occurring 
after the State enacts a statute, not later than 3 years after the 
date of the enactment of this Act, that expressly provides that 
subsection (a) shall not apply with respect to such conduct. 
SEC. 3. DEFINITIONS. 
15 USC 37a. 
For purposes of this Act: 
(1) ANNUITY RATE.—^The term "annuity rate" means the 
percentage of the fair market value of a gift (determined as 
of the date of the gift) given in exchange for a charitable 
gift annuity, that represents the amount of the annual pa3anent 
to be made to 1 or 2 annuitants over the life of either or 
both under the terms of the agreement to give such gift in 
exchange for such annuity. 
(2) ANTITRUST LAWS.—The term "antitrust laws" has the 
meaning given it in subsection (a) of the first section of the 
Clajrton Act (15 U.S.C. 12), except that such term includes 
section 5 of the Federal Trade Commission Act (15 U.S.C. 
45) to the extent that such section 5 applies to unfair methods 
of competition. 
(3) CHARITABLE GIFT ANNUITY.—^The term "charitable gift 
annuity has the meaning given it in section 501(m)(5) of the 
Internal Revenue Code of 1986 (26 U.S.C. 501(m)(5)). 
109 STAT. 688 
PUBLIC LAW 104-63—DEC. 8, 1995 
(4) PERSON.—^The term "person" has the meaning given 
it in subsection (a) of the first section of the Cla3^on Act 
(15 U.S.C. 12(a)). 
(5) STATE.—^The term "State" has the meaning given it 
in section 4G(2) of the Clayton Act (15 U.S.C. 15g(2)). 
15 u s e 37 note. 
SEC. 4. APPUCATION OF ACT. 
This Act shall apply with respect to conduct occurring before, 
on, or after the date of the enactment of this Act. 
Approved December 8, 1995. 
LEGISLATIVE HISTORY—H.R. 2525: 
HOUSE REPORTS: No. 104-336 (Comm. on the Judiciary). 
CONGRESSIONAL RECORD, Vol. 141 (1995): 
Nov. 28, considered and passed House. 
Nov. 29, considered and passed Senate.