[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6227 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 6227

     To exempt longstanding nonfunctionally-integrated supporting 
organizations from certain provisions of the Pension Protection Act of 
                                 2006.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 10, 2008

  Mr. Lewis of Georgia (for himself, Mr. Ramstad, and Mr. Thompson of 
 California) introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
     To exempt longstanding nonfunctionally-integrated supporting 
organizations from certain provisions of the Pension Protection Act of 
                                 2006.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXCEPTION FROM HOLDINGS AND PAYOUT REQUIREMENTS FOR CERTAIN 
              LONGSTANDING, FULLY-FUNDED TYPE III SUPPORTING 
              ORGANIZATIONS.

    (a) Excess Business Holdings.--Subsection (f) of section 4943 of 
the Internal Revenue Code of 1986 is amended by adding at the end the 
following new paragraph:
            ``(8) Exception for certain longstanding fully funded type 
        iii supporting organizations.--Paragraph (1) shall not apply to 
        any organization if--
                    ``(A) the organization was established before 
                January 1, 1970,
                    ``(B) the organization has not accepted any 
                substantial contributions after December 31, 1970,
                    ``(C) no donor to the organization was alive on 
                August 17, 2006, and
                    ``(D) no family member (within the meaning of 
                section 4958(f)(4)) of any donor is an organization 
                manager (as defined in section 4958(f)(2)).''.
    (b) Payout Requirements.--Section 1241(d)(1) of the Pension 
Protection Act of 2006 shall not apply to any organization described in 
section 4943(f)(8) of the Internal Revenue Code of 1986, as added by 
subsection (a).
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years ending after the date of the enactment of this 
Act.
                                 <all>