[United States Senate Manual, 104th Congress]
[S. Doc. 104-1]
[USCODETITLE]
[Pages 713-728]
[From the U.S. Government Publishing Office, www.gpo.gov]



[[Page 713]]
 
                          TITLE 26.--INTERNAL REVENUE CODE

            
                              SUBTITLE A.--INCOME TAXES

            
                        Chapter 1.--NORMAL TAXES AND SURTAXES

                                    * * * * * * *

            
                    Subchapter B.--Computation of Taxable Income

                                    * * * * * * *

            
                Part II.--ITEMS SPECIFICALLY INCLUDED IN GROSS INCOME

                                    * * * * * * *

       473  Sec. 84. Transfer of appreciated property to political 
                organization.
     473.1  (a) General rule.
                If--
                        (1) any person transfers property to a political 
                    organization, and
                        (2) the fair market value of such property 
                    exceeds its adjusted basis,

            then for purposes of this chapter the transferor shall be 
            treated as having sold such property to the political 
            organization on the date of the transfer, and the transferor 
            shall be treated as having realized an amount equal to the 
            fair market value of such property on such date.

     473.2  (b) Basis of property.
                In the case of a transfer of property to a political 
            organization to which subsection (a) applies, the basis of 
            such property in the hands of the political organization 
            shall be the same as it would be in the hands of the 
            transferor, increased by the amount of gain recognized to 
            the transferor by reason of such transfer.
     473.3  (c) Political organization defined.
                For purposes of this section, the term ``political 
            organization'' has the meaning given to such term by section 
            527(e)(1). (Jan. 3, 1975, Pub. L. 93-625, Sec. 13(a), 88 
            Stat. 2120.)

                                    * * * * * * *

            
                 Part VI.--ITEMIZED DEDUCTIONS FOR INDIVIDUALS AND 
                                    CORPORATIONS

                                    * * * * * * *

       474  Sec. 162. Trade or business expenses.
     474.1  (a) In general.
                There shall be allowed as a deduction all the ordinary 
            and necessary expenses paid or incurred during the taxable 
            year in carrying on any trade or business, including--

[[Page 714]]

                (1) a reasonable allowance for salaries or other 
            compensation for personal services actually rendered;
                (2) traveling expenses (including amounts expended for 
            meals and lodging other than amounts which are lavish or 
            extravagant under the circumstances) while away from home in 
            the pursuit of a trade or business; and
                (3) rentals or other payments required to be made as a 
            condition to the continued use or possession, for purposes 
            of the trade or business, of property to which the taxpayer 
            has not taken or is not taking title or in which he has no 
            equity.

            For purposes of the preceding sentence, the place of 
            residence of a Member of Congress (including any Delegate 
            and Resident Commissioner) within the State, congressional 
            district, or possession which he represents in Congress 
            shall be considered his home, but amounts expended by such 
            Members within each taxable year for living expenses shall 
            not be deductible for income tax purposes in excess of 
            $3,000. For purposes of paragraph (2), the taxpayer shall 
            not be treated as being temporarily away from home during 
            any period of employment if such period exceeds 1 year. 
            (Aug. 16, 1954, ch. 736, 68A Stat. 45; Oct. 16, 1962, Pub. 
            L. 87-834, Sec. 4(b), 76 Stat. 960, 976; Oct. 4, 1976, Pub. 
            L. 94-455, Sec. 1901(c) (4), 90 Stat. 1803; Oct. 1, 1981, 
            Pub. L. 97-51, Sec. 139(b)(1), 95 Stat. 967; July 18, 1982, 
            Pub. L. 97-216, Sec. 215(a), 96 Stat. 194; Oct. 24, 1992, 
            Pub. L. 102-486, Sec. 1938(a), 106 Stat. 3033.)

                                    * * * * * * *

            
                         Subchapter F.--Exempt Organizations

                                    * * * * * * *

            
                          Part VI.--POLITICAL ORGANIZATIONS

     474.5  Sec. 527. Political organizations.
     474.6  (a) General rule.
                A political organization shall be subject to taxation 
            under this subtitle only to the extent provided in this 
            section. A political organization shall be considered an 
            organization exempt from income taxes for the purpose of any 
            law which refers to organizations exempt from income taxes.

     474.7  (b) Tax imposed.
                (1) In general.--A tax is hereby imposed for each 
            taxable year on the political organization taxable income of 
            every political organization. Such tax shall be computed by 
            multiplying the political organization taxable income by the 
            highest rate of tax specified in section 11(b).
                (2) Alternative tax in case of capital gains.--If for 
            any taxable year any political organization has a net 
            capital gain, then, in lieu of the tax imposed by paragraph 
            (1), there is hereby imposed a tax (if such a tax is less 
            than the tax imposed by paragraph (1)) which shall consist 
            of the sum of--
                        (A) a partial tax, computed as provided by 
                    paragraph (1), on the political organization taxable 
                    income determined by reducing such income by the 
                    amount of such gain, and
                        (B) an amount determined as provided in section 
                    1201(a) on such gain.


[[Page 715]]


     474.8  (c) Political organization taxable income defined.
                (1) Taxable income defined.--For purposes of this 
            section, the political organization taxable income of any 
            organization for any taxable year is an amount equal to the 
            excess (if any) of--
                        (A) the gross income for the taxable year 
                    (excluding any exempt function income), over
                        (B) the deductions allowed by this chapter which 
                    are directly connected with the production of the 
                    gross income (excluding exempt function income), 
                    computed with the modifications provided in 
                    paragraph (2).
                (2) Modifications.--For purposes of this subsection--
                        (A) there shall be allowed a specific deduction 
                    of $100,
                        (B) no net operating loss deduction shall be 
                    allowed under section 172, and
                        (C) no deduction shall be allowed under part 
                    VIII of subchapter B (relating to special deductions 
                    for corporations).
                (3) Exempt function income.--For purposes of this 
            subsection, the term ``exempt function income'' means any 
            amount received as--
                        (A) a contribution of money or other property,
                        (B) membership dues, a membership fee or 
                    assessment from a member of the political 
                    organization,
                        (C) proceeds from a political fundraising or 
                    entertainment event, or proceeds from the sale of 
                    political campaign materials, which are not received 
                    in the ordinary course of any trade or business, or
                        (D) proceeds from the conducting of any bingo 
                    game (as defined in section 513(f)(2)),

            to the extent such amount is segregated for use only for the 
            exempt function of the political organization.

     474.9  (d) Certain uses not treated as income to candidate.
                For purposes of this title, if any political 
            organization--
                        (1) contributes any amount to or for the use of 
                    any political organization which is treated as 
                    exempt from tax under subsection (a) of this 
                    section,
                        (2) contributes any amount to or for the use of 
                    any organization described in paragraph (1) or (2) 
                    of section 509(a) which is exempt from tax under 
                    section 501(a), or
                        (3) deposits any amount in the general fund of 
                    the Treasury or in the general funds of any State or 
                    local government,

            such amount shall be treated as an amount not diverted for 
            the personal use of the candidate or any other person. No 
            deduction shall be allowed under this title for the 
            contribution or deposit of any amount described in the 
            preceding sentence.

    474.10  (e) Other definitions.
                For purposes of this section--
                        (1) Political organization.--The term 
                    ``political organization'' means a party, committee, 
                    association, fund, or other organization (whether or 
                    not incorporated) organized and operated primarily 
                    for the purpose of directly or indirectly accepting 
                    contributions or making expenditures, or both, for 
                    an exempt function.

[[Page 716]]

                        (2) Exempt function.--The term ``exempt 
                    function'' means the function of influencing or 
                    attempting to influence the selection, nomination, 
                    election, or appointment of any individual to any 
                    Federal, State, or local public office or office in 
                    a political organization, or the election of 
                    Presidential or Vice-Presidential electors, whether 
                    or not such individual or electors are selected, 
                    nominated, elected, or appointed. Such term includes 
                    the making of expenditures relating to an office 
                    described in the preceding sentence which, if 
                    incurred by the individual, would be allowable as a 
                    deduction under section 162(a).
                        (3) Contributions.--The term ``contributions'' 
                    has the meaning given to such term by section 
                    271(b)(2).
                        (4) Expenditures.--The term ``expenditures'' has 
                    the meaning given to such term by section 271(b)(3).

                                    * * * * * * *

    474.11  (g) Treatment of newsletter funds.
                (1) In general.--For purposes of this section, a fund 
            established and maintained by an individual who holds, has 
            been elected to, or is a candidate (within the meaning of 
            paragraph (3)) for nomination or election to, any Federal, 
            State, or local elective public office for use by such 
            individual exclusively for the preparation and circulation 
            of such individual's newsletter shall, except as provided in 
            paragraph (2), be treated as if such fund constituted a 
            political organization.
                (2) Additional modifications.--In the case of any fund 
            described in paragraph (1)--
                        (A) the exempt function shall be only the 
                    preparation and circulation of the newsletter, and
                        (B) the specific deduction provided by 
                    subsection (c)(2)(A) shall not be allowed.
                (3) Candidate.--For purposes of paragraph (1), the term 
            ``candidate'' means, with respect to any Federal, State, or 
            local elective public office, an individual who--
                        (A) publicly announces that he is a candidate 
                    for nomination or election to such office, and
                        (B) meets the qualifications prescribed by law 
                    to hold such office.
    474.12  (h) Special rule for principal campaign committees.
                (1) In general.--In the case of a political organization 
            which is a principal campaign committee, paragraph (1) of 
            subsection (b) shall be applied by substituting ``the 
            appropriate rates'' for ``the highest rate''.
                (2) Principal campaign committee defined.--
                        (A) In general.--For purposes of this 
                    subsection, the term ``principal campaign 
                    committee'' means the political committee designated 
                    by a candidate for Congress as his principal 
                    campaign committee for purposes of--

                                (i) section 302(e) of the Federal 
                            Election Campaign Act of 1971 (2 U.S.C. 
                            432(e)), and

                                (ii) this subsection.

                        (B) Designation.--A candidate may have only 1 
                    designation in effect under subparagraph (A)(ii) at 
                    any time and such designation--

                                (i) shall be made at such time and in 
                            such manner as the Secretary may prescribe 
                            by regulations, and

[[Page 717]]

                                (ii) once made, may be revoked only with 
                            the consent of the Secretary.

                        Nothing in this subsection shall be construed to 
                    require any designation where there is only one 
                    political committee with respect to a candidate. 
                    (Jan. 3, 1975, Pub. L. 93-625, Sec. 10(a), 88 Stat. 
                    2116; Oct. 4, 1976, Pub. L. 94-455, 
                    Sec. 1901(b)(33)(c), 90 Stat. 1801; Oct. 21, 1978, 
                    Pub. L. 95-502, Sec. 302(a), 92 Stat. 1702; Nov. 6, 
                    1978, Pub. L. 95-600, Sec. 301(b)(6), 92 Stat. 2821; 
                    Aug. 13, 1981, Pub. L. 97-34, Sec. 128, 95 Stat. 
                    203; July 18, 1984, Pub. L. 98-369, 
                    Secs. 474(r)(16), 722(c), 98 Stat. 843, 973; 
                    Oct. 22, 1986, Pub. L. 99-514, Sec. 112(b)(1), 100 
                    Stat. 2085; Nov. 10, 1988, Pub. L. 100-647, 
                    Sec. 1001(b)(3)(B), 102 Stat. 3349.)

                                    * * * * * * *

            
             Subchapter N.--Tax Based on Income From Sources Within or 
                             Without the United States

                                    * * * * * * *

            
                Part II.--NONRESIDENT ALIENS AND FOREIGN CORPORATIONS

                                    * * * * * * *

            
                        Subpart D.--Miscellaneous Provisions

                                    * * * * * * *

    474.13  Sec. 896. Adjustment of tax on nationals, residents, and 
                corporations of certain foreign countries.

                                    * * * * * * *

    474.14  (d) Notification of Congress required.
                No proclamation shall be issued by the President 
            pursuant to this section unless, at lest 30 days prior to 
            such proclamation, he has notified the Senate and the House 
            of Representatives of his intention to issue such 
            proclamation. (Nov. 13, 1966, Pub. L. 89-809, Sec. 105(b), 
            80 Stat. 1563.)
            
                       Subchapter P.--Capital Gains and Losses

                                    * * * * * * *

            
             Part III.--GENERAL RULES FOR DETERMINING CAPITAL GAINS AND 
                                       LOSSES

    474.15  Sec. 1221. Capital asset defined.
                For purposes of this subtitle, the term ``capital 
            asset'' means property held by the taxpayer (whether or not 
            connected with his trade or business), but does not 
            include--

                                    * * * * * * *

                (5) a publication of the United States Government 
            (including the Congressional Record) which is received from 
            the United States Government or any agency thereof, other 
            than by purchase at the price at which it is offered for 
            sale to the public, and which is held by--
                        (A) a taxpayer who so received such publication, 
                    or

[[Page 718]]

                        (B) a taxpayer in whose hands the basis of such 
                    publication is determined, for purposes of 
                    determining gain from a sale or exchange, in whole 
                    or in part by reference to the basis of such 
                    publication in the hands of a taxpayer described in 
                    subparagraph (A). (Aug. 16, 1954, ch. 736. 68A Stat. 
                    321; Oct. 4, 1976, Pub. L. 94-455, Sec. 2132 (a), 90 
                    Stat. 1925; Aug. 13, 1981, Pub. L. 97-34, Sec. 505 
                    (a), 95 Stat 331.)

                                    * * * * * * *

            
                      SUBTITLE F.--PROCEDURE AND ADMINISTRATION

            
                        Chapter 61.--INFORMATION AND RETURNS

                                    * * * * * * *

            
                       Subchapter B.--Miscellaneous Provisions

                                    * * * * * * *

       475  Sec. 6103. Confidentiality and disclosure of returns and 
                return information.

                                    * * * * * * *

     475.1  (f) Disclosure to committees of Congress.
                (1) Committee on Ways and Means, Committee on Finance, 
            and Joint Committee on Taxation.--Upon written request from 
            the chairman of the Committee on Ways and Means of the House 
            of Representatives, the chairman of the Committee on Finance 
            of the Senate, or the chairman of the Joint Committee on 
            Taxation, the Secretary shall furnish such committee with 
            any return or return information specified in such request, 
            except that any return or return information which can be 
            associated with, or otherwise identify, directly or 
            indirectly, a particular taxpayer shall be furnished to such 
            committee only when sitting in closed executive session 
            unless such taxpayer otherwise consents in writing to such 
            disclosure.
                (2) Chief of Staff of Joint Committee on Taxation.--Upon 
            written request by the Chief of Staff of the Joint Committee 
            on Taxation, the Secretary shall furnish him with any return 
            or return information specified in such request. Such Chief 
            of Staff may submit such return or return information to any 
            committee described in paragraph (1), except that any return 
            or return information which can be associated with, or 
            otherwise identify, directly or indirectly, a particular 
            taxpayer shall be furnished to such committee only when 
            sitting in closed executive session unless such taxpayer 
            otherwise consents in writing to such disclosure.
                (3) Other committees.--Pursuant to an action by, and 
            upon written request by the chairman of, a committee of the 
            Senate or the House of Representatives (other than a 
            committee specified in paragraph (1)) specially authorized 
            to inspect any return or return information by a resolution 
            of the Senate or the House of Representatives or, in the 
            case of a joint committee (other than the joint committee 
            specified in paragraph (1)) by concurrent resolution, the 
            Secretary shall furnish such committee, or a duly authorized 
            and designated subcommittee thereof, sitting in closed 
            executive session, with any return or return information 
            which such resolution authorizes the committee or 
            subcommittee to in-

[[Page 719]]

            spect. Any resolution described in this paragraph shall 
            specify the purpose for which the return or return 
            information is to be furnished and that such information 
            cannot reasonably be obtained from any other source.
                (4) Agents of committees and submission of information 
            to Senate or House of Representatives.--
                        (A) Committees described in paragraph (1).--Any 
                    committee described in paragraph (1) or the Chief of 
                    Staff of the Joint Committee on Taxation shall have 
                    the authority, acting directly, or by or through 
                    such examiners or agents as the chairman of such 
                    committee or such chief of staff may designate or 
                    appoint, to inspect returns and return information 
                    at such time and in such manner as may be determined 
                    by such chairman or chief of staff. Any return or 
                    return information obtained by or on behalf of such 
                    committee pursuant to the provisions of this 
                    subsection may be submitted by the committee to the 
                    Senate or the House of Representatives, or to both. 
                    The Joint Committee on Taxation may also submit such 
                    return or return information to any other committee 
                    described in paragraph (1), except that any return 
                    or return information which can be associated with, 
                    or otherwise identify, directly or indirectly, a 
                    particular taxpayer shall be furnished to such 
                    committee only when sitting in closed executive 
                    session unless such taxpayer otherwise consents in 
                    writing to such disclosure.
                        (B) Other committees.--Any committee or 
                    subcommittee described in paragraph (3) shall have 
                    the right, acting directly, or by or through no more 
                    than four examiners or agents, designated or 
                    appointed in writing in equal numbers by the 
                    chairman and ranking minority member of such 
                    committee or subcommittee, to inspect returns and 
                    return information at such time and in such manner 
                    as may be determined by such chairman and ranking 
                    minority member. Any return or return information 
                    obtained by or on behalf of such committee or 
                    subcommittee pursuant to the provisions of this 
                    subsection may be submitted by the committee to the 
                    Senate or the House of Representatives, or to both, 
                    except that any return or return information which 
                    can be associated with, or otherwise identify, 
                    directly or indirectly, a particular taxpayer, shall 
                    be furnished to the Senate or the House of 
                    Representatives only when sitting in closed 
                    executive session unless such taxpayer otherwise 
                    consents in writing to such disclosure.
     475.2  (g) Disclosure to President and certain other persons.

                                    * * * * * * *

     475.3  (5) Reporting requirements.--
                Within 30 days after the close of each calendar quarter, 
            the President and the head of any agency requesting returns 
            and return information under this subsection shall each file 
            a report with the Joint Committee on Taxation setting forth 
            the taxpayers with respect to whom such requests were made 
            during such quarter under this subsection, the returns or 
            return information involved, and the reasons for such 
            requests. The President shall not be required to report on 
            any request for returns and return information pertaining to 
            an individual who was an officer or employee of the 
            executive branch of the Federal Government at the time such 
            request was made. Reports filed pursuant to this paragraph

[[Page 720]]

            shall not be disclosed unless the Joint Committee on 
            Taxation determines that disclosure thereof (including 
            identifying details) would be in the national interest. Such 
            reports shall be maintained by the Joint Committee on 
            Taxation for a period not exceeding 2 years unless, within 
            such period, the Joint Committee on Taxation determines that 
            a disclosure to the Congress is necessary. (Oct. 4, 1976, 
            Pub. L. 94-455, Sec. 1202(a), 90 Stat. 1667.)

                                    * * * * * * *

     475.5  Sec. 6104. Publicity of information required from certain 
                exempt organizations and certain trusts.
     475.6  (a) Inspection of applications for tax exemption.
                (1) Public inspection.--
                        (A) Organizations described in section 501.--If 
                    an organization described in section 501 (c) or (d) 
                    is exempt from taxation under section 501(a) for any 
                    taxable year, the application filed by the 
                    organization with respect to which the Secretary 
                    made his determination that such organization was 
                    entitled to exemption under section 501(a), together 
                    with any papers submitted in support of such 
                    application, and any letter or other document issued 
                    by the Internal Revenue Service with respect to such 
                    application shall be open to public inspection at 
                    the national office of the Internal Revenue Service. 
                    In the case of any application filed after the date 
                    of the enactment of this subparagraph, a copy of 
                    such application and such letter or document shall 
                    be open to public inspection at the appropriate 
                    field office of the Internal Revenue Service 
                    (determined under regulations prescribed by the 
                    Secretary). Any inspection under this subparagraph 
                    may be made at such times, and in such manner, as 
                    the Secretary shall by regulations prescribe. After 
                    the application of any organization has been opened 
                    to public inspection under this subparagraph, the 
                    Secretary shall, on the request of any person with 
                    respect to such organization, furnish a statement 
                    indicating the subsection and paragraph of section 
                    501 which it has been determined describes such 
                    organization.
                        (B) Pension, etc., plans.--The following shall 
                    be open to public inspection at such times and in 
                    such places as the Secretary may prescribe:

                                (i) any application filed with respect 
                            to the qualification of a pension, profit-
                            sharing, or stock bonus plan under section 
                            401(a) or 403(a), an individual retirement 
                            account described in section 408(a), or an 
                            individual retirement annuity described in 
                            section 408(b),

                                (ii) any application filed with respect 
                            to the exemption from tax under section 
                            501(a) of an organization forming part of a 
                            plan or account referred to in clause (i),

                                (iii) any papers submitted in support of 
                            an application referred to in clause (i) or 
                            (ii), and

                                (iv) any letter or other document issued 
                            by the Internal Revenue Service and dealing 
                            with the qualification referred to in clause 
                            (i) or the exemption from tax referred to in 
                            clause (ii).

            Except in the case of a plan participant, this subparagraph 
            shall not apply to any plan referred to in clause (i) having 
            not more than 25 participants.

[[Page 721]]

                        (C) Certain names and compensation not to be 
                    open to public inspection.--In the case of any 
                    application, document, or other papers, referred to 
                    in subparagraph (B), information from which the 
                    compensation (including deferred compensation) of 
                    any individual may be ascertained shall not be 
                    opened to public inspection under subparagraph (B).
                        (D) Withholding of certain other information.--
                    Upon request of the organization submitting any 
                    supporting papers described in subparagraph (A) or 
                    (B), the Secretary shall withhold from public 
                    inspection any information contained therein which 
                    he determines relates to any trade secret, patent, 
                    process, style of work, or apparatus, of the 
                    organization, if he determines that public 
                    disclosure of such information would adversely 
                    affect the organization. The Secretary shall 
                    withhold from public inspection any information 
                    contained in supporting papers described in 
                    subparagraph (A) or (B) the public disclosure of 
                    which he determines would adversely affect the 
                    national defense.
                (2) Inspection by committee of Congress.--Section 
            6103(f) shall apply with respect to--
                        (A) the application for exemption of any 
                    organization described in section 501(c) or (d) 
                    which is exempt from taxation under section 501(a) 
                    for any taxable year, and any application referred 
                    to in subparagraph (B) of subsection (a)(1) of this 
                    section, and
                        (B) any other papers which are in the possession 
                    of the Secretary and which relate to such 
                    application,

            as if such papers constituted returns. (Sept. 2, 1958, Pub. 
            L. 85-866, Sec. 75(a) 72 Stat. 1660; Sept. 2, 1974, Pub. L. 
            93-406, Sec. 1022(g)(1), (2), 88 Stat. 940; Oct. 4, 1976, 
            Pub. L. 94-455, Secs. 1201(d), 1906(b)(13)(A), 90 Stat. 
            1667, 1834; Nov. 6, 1978, Pub. L. 95-600, Sec. 703(m), 92 
            Stat. 2943; July 18, 1984, Pub. L. 98-369 Sec. 491(d)(49), 
            98 Stat. 852.)

                                    * * * * * * *

            
                              Chapter 79.--DEFINITIONS

     475.7  Sec. 7701. Definitions.

                                    * * * * * * *

     475.8  (j) Tax treatment of Federal Thrift Savings Fund.
                (1) In general.--For purposes of this title--
                        (A) the Thrift Savings Fund shall be treated as 
                    a trust described in section 401(a) which is exempt 
                    from taxation under section 501(a);
                        (B) any contribution to, or distribution from, 
                    the Thrift Savings Fund shall be treated in the same 
                    manner as contributions to or distributions from 
                    such a trust; and
                        (C) subject to section 401(k)(4)(B) and any 
                    dollar limitation on the application of section 
                    402(e)(3), contributions to the Thrift Savings Fund 
                    shall not be treated as distributed or made 
                    available to an employee or Member nor as a 
                    contribution made to the Fund by an employee or 
                    Member merely because the employee or Member has, 
                    under the provisions of subchapter III of chapter 84 
                    of title 5, United States Code, and section 8351 of 
                    such title 5, an election whether the contribution 
                    will be made to the Thrift Savings Fund or received 
                    by the employee or Member in cash.

[[Page 722]]

                (2) Nondiscrimination requirements.--Notwithstanding any 
            other provision of the law, the Thrift Savings Fund is not 
            subject to the nondiscrimination requirements applicable to 
            arrangements described in section 401(k) or to matching 
            contributions (as described in section 401(m)), so long as 
            it meets the requirements of this section.
                (3) Coordination with Social Security Act.--Paragraph 
            (1) shall not be construed to provide that any amount of the 
            employee's or Member's basic pay which is contributed to the 
            Thrift Savings Fund shall not be included in the term 
            ``wages'' for the purposes of section 209 of the Social 
            Security Act or section 3121(a) of this title.
                (4) Definitions.--For purposes of this subsection, the 
            terms ``Member'', ``employee'', and ``Thrift Savings Fund'' 
            shall have the same respective meanings as when used in 
            subchapter III of chapter 84 of title 5, United States Code.
                (5) Coordination with other provisions of law.--No 
            provision of law not contained in this title shall apply for 
            purposes of determining the treatment under this title of 
            the Thrift Savings Fund or any contribution to, or 
            distribution from, such Fund. (Oct. 22, 1986, Pub. L. 99-
            514, Sec. 1147(a), 100 Stat. 2493; Dec. 22, 1987, Pub. L. 
            100-202, Sec. 624(a), 101 Stat. 1329-429; Nov. 10, 1988, 
            Pub. L. 100-647, Sec. 1011A(m)(1), 102 Stat. 3483; Nov. 5, 
            1990, Pub. L. 101-508, Sec. 11704(a)(34), 104 Stat. 1388-
            519; July 3, 1992, Pub. L. 102-318, Sec. 521(b)(43), 106 
            Stat. 313.)

                                    * * * * * * *

     475.9  (k) Treatment of certain amounts paid to charity.
                In the case of any payment which, except for section 
            501(b) of the Ethics in Government Act of 1978, might be 
            made to any officer or employee of the Federal Government 
            but which is made instead on behalf of such officer or 
            employee to an organization described in section 170(c)--
                        (1) such payment shall not be treated as 
                    received by such officer or employee for all 
                    purposes of this title and for all purposes of any 
                    tax law of a State or political subdivision thereof, 
                    and
                        (2) no deduction shall be allowed under any 
                    provision of this title (or of any law of a State or 
                    political subdivision thereof) to such officer or 
                    employee by reason of having such payment made to 
                    such organization.

            For purposes of this subsection, a Senator, a Representative 
            in, or a Delegate or Resident Commissioner to, the Congress 
            shall be treated as an officer or employee of the Federal 
            Government. (Nov. 30, 1989, Pub. L. 101-194, Sec. 602, 103 
            Stat. 1762; Aug. 14, 1991, Pub. L. 102-90, Sec. 314(e), 103 
            Stat. 469-470.)

                                    * * * * * * *

            
                    SUBTITLE G.--THE JOINT COMMITTEE ON TAXATION

            
               Chapter 91.--ORGANIZATION AND MEMBERSHIP OF THE JOINT 
                                     COMMITTEE

       476  Sec. 8001. Authorization.
                There shall be a joint congressional committee known as 
            the Joint Committee on Taxation (hereinafter in this 
            subtitle referred to as the ``Joint Committee''). (Aug. 16, 
            1954, ch. 736, 68A Stat. 925; Oct. 4, 1976, Pub. L. 94-455, 
            Sec. 1907(a)(1), 90 Stat. 1835.)

[[Page 723]]

     476.1  Sec. 8002. Membership.
     476.2  (a) Number and selection.
                The Joint Committee shall be composed of 10 members as 
            follows:
                (1) From Committee on Finance.--Five members who are 
            members of the Committee on Finance of the Senate, three 
            from the majority and two from the minority party, to be 
            chosen by such Committee; and
                (2) From Committee on Ways and Means.--Five members who 
            are members of the Committee on Ways and Means of the House 
            of Representatives, three from the majority and two from the 
            minority party, to be chosen by such Committee.
     476.3  (b) Tenure of office.
                (1) General limitation.--No person shall continue to 
            serve as a member of the Joint Committee after he has ceased 
            to be a member of the committee by which he was chosen, 
            except that--
                (2) Exception.--The members chosen by the Committee on 
            Ways and Means who have been reelected to the House of 
            Representatives may continue to serve as members of the 
            Joint Committee notwithstanding the expiration of the 
            Congress.
     476.4  (c) Vacancies.
                A vacancy in the Joint Committee--
                        (1) Effect.--Shall not affect the power of the 
                    remaining members to execute the functions of the 
                    Joint Committee; and
                        (2) Manner of filling.--Shall be filled in the 
                    same manner as the original selection, except that--

                                (A) Adjournment or recess of Congress.--
                            In case of a vacancy during an adjournment 
                            or recess of Congress for a period of more 
                            than 2 weeks, the members of the Joint 
                            Committee who are members of the Committee 
                            entitled to fill such vacancy may designate 
                            a member of such Committee to serve until 
                            his successor is chosen by such Committee; 
                            and

                                (B) Expiration of Congress.--In the case 
                            of a vacancy after the expiration of a 
                            Congress which would be filled by the 
                            Committee on Ways and Means, the members of 
                            such Committee who are continuing to serve 
                            as members of the Joint Committee may 
                            designate a person who, immediately prior to 
                            such expiration, was a member of such 
                            Committee and who is reelected to the House 
                            of Representatives, to serve until his 
                            successor is chosen by such Committee.

     476.5  (d) Allowances.
                The members shall serve without compensation in addition 
            to that received for their services as members of Congress; 
            but they shall be reimbursed for travel, subsistence, and 
            other necessary expenses incurred by them in the performance 
            of the duties vested in the Joint Committee, other than 
            expenses in connection with meetings of the Joint Committee 
            held in the District of Columbia during such times as the 
            Congress is in session. (Aug. 16, 1954, ch. 736, 68A Stat. 
            925.)
     476.6  Sec. 8003. Election of chairman and vice chairman.
                The Joint Committee shall elect a chairman and vice 
            chairman from among its members. (Aug. 16, 1954, ch. 736, 
            68A Stat. 926.)
     476.7

[[Page 724]]

            Sec. 8004. Appointment and compensation of staff.
                Except as otherwise provided by law, the Joint Committee 
            shall have power to appoint and fix the compensation of the 
            Chief of Staff of the Joint Committee and such experts and 
            clerical, stenographic, and other assistants as it deems 
            advisable. (Aug. 16, 1954, ch. 736, 68A Stat. 926; Oct. 4, 
            1976, Pub. L. 94-455, Sec. 1907(a)(2), 90 Stat. 1835.)
     476.8  Sec. 8005. Payment of expenses.
                The expenses of the Joint Committee shall be paid one-
            half from the contingent fund of the Senate and one-half 
            from the contingent fund of the House of Representatives, 
            upon vouchers signed by the chairman or the vice chairman. 
            (Aug. 16, 1954, ch. 736, 68A Stat. 926.)

            
                Chapter 92.--POWERS AND DUTIES OF THE JOINT COMMITTEE

       477  Sec. 8021. Powers.
     477.1  (a) To obtain data and inspect income returns.
                        For powers of the Joint Committee to obtain and 
                    inspect income returns, see section 6103(f).
     477.2  (b) Relating to hearings and sessions.
                The Joint Committee, or any subcommittee thereof, is 
            authorized--
                        (1) To hold.--To hold hearings and to sit and 
                    act at such places and times;
                        (2) To require attendance of witnesses and 
                    production of books.--To require by subpoena (to be 
                    issued under the signature of the chairman or vice 
                    chairman) or otherwise the attendance of such 
                    witnesses and the production of such books, papers, 
                    and documents;
                        (3) To administer oaths.--To administer such 
                    oaths; and
                        (4) To take testimony.--To take such testimony;

            as it deems advisable.

     477.3  (c) To procure printing and binding.
                The Joint Committee, or any subcommittee thereof, is 
            authorized to have such printing and binding done as it 
            deems advisable.
     477.4  (d) To make expenditures.
                The Joint Committee, or any subcommittee thereof, is 
            authorized to make such expenditures as it deems advisable. 
            (Aug. 16, 1954, ch. 736, 68A Stat. 927; Oct. 4, 1976, Pub. 
            L. 94-455, Sec. 1907(a)(3), 90 Stat. 1835; Nov. 10, 1988, 
            Pub. L. 100-647, Sec. 1018(s)(1), 102 Stat. 3586.)
     477.5  Sec. 8022. Duties.
                It shall be the duty of the Joint Committee--
     477.6      (1) Investigation.--
                        (A) Operation and effects of law.--To 
                    investigate the operation and effects of the Federal 
                    system of internal revenue taxes;
                        (B) Administration.--To investigate the 
                    administration of such taxes by the Internal Revenue 
                    Service or any executive department, establishment, 
                    or agency charged with their administration; and
                        (C) Other investigations.--To make such other 
                    investigations in respect of such system of taxes as 
                    the Joint Committee may deem necessary.

[[Page 725]]

     477.7      (2) Simplification of law.--
                        (A) Investigation of methods.--To investigate 
                    measures and methods for the simplification of such 
                    taxes, particularly the income tax; and
                        (B) Publication of proposals.--To publish, from 
                    time to time, for public examination and analysis, 
                    proposed measures and methods for the simplification 
                    of such taxes.
     477.8      (3) Reports.--To report, from time to time, to the 
            Committee on Finance and the Committee on Ways and Means, 
            and, in its discretion, to the Senate or the House of 
            Representatives, or both, the results of its investigations, 
            together with such recommendations as it may deem advisable.
     477.9      (4) Cross reference.--
                        For duties of the Joint Committee relating to 
                    refunds of income and estate taxes, see section 
                    6405. (Aug. 16, 1954, ch. 736, 68A Stat. 927.)
       478  Sec. 8023. Additional powers to obtain data.
     478.1  (a) Securing of data.
                The Joint Committee or the Chief of Staff of the Joint 
            Committee, upon approval of the Chairman or Vice Chairman, 
            is authorized to secure directly from the Internal Revenue 
            Service or the office of the Chief Counsel for the Internal 
            Revenue Service, or directly from any executive department, 
            board, bureau, agency, independent establishment, or 
            instrumentality of the Government, information, suggestions, 
            rulings, data, estimates, and statistics, for the purpose of 
            making investigations, reports, and studies relating to 
            internal revenue taxation. In the investigation by the Joint 
            Committee on Taxation of the administration of the internal 
            revenue taxes by the Internal Revenue Service, the Chief of 
            Staff of the Joint Committee on Taxation is authorized to 
            secure directly from the Internal Revenue Service such tax 
            returns, or copies of tax returns, and other relevant 
            information, as the Chief of Staff deems necessary for such 
            investigation, and the Internal Revenue Service is 
            authorized and directed to furnish such tax returns and 
            information to the Chief of Staff together with a brief 
            report, with respect to each return, as to any action taken 
            or proposed to be taken by the Service as a result of any 
            audit of the return.
     478.2  (b) Furnishing of data.
                The Internal Revenue Service, the office of the Chief 
            Counsel for the Internal Revenue Service, executive 
            departments, boards, bureaus, agencies, independent 
            establishments, and instrumentalities are authorized and 
            directed to furnish such information, suggestions, rulings, 
            data, estimates, and statistics directly to the Joint 
            Committee or to the Chief of Staff of the Joint Committee, 
            upon request made pursuant to this section.
     478.3  (c) Application of subsections (a) and (b).
                Subsections (a) and (b) shall be applied in accordance 
            with their provisions without regard to any reorganization 
            plan becoming effective on, before, or after the date of the 
            enactment of this subsection. (Aug. 16, 1954, ch. 736, 68A 
            Stat. 928; Sept. 22, 1959, Pub. L. 86-368, Sec. 2(b),

[[Page 726]]

            73 Stat. 648; Oct. 4, 1976, Pub. L. 94-455, 
            Secs. 1210(c), 1907(a)(4), 90 Stat. 1711, 1835.)

                                    * * * * * * *

            
              SUBTITLE H.--FINANCING OF PRESIDENTIAL ELECTION CAMPAIGNS

            
                  Chapter 95.--PRESIDENTIAL ELECTION CAMPAIGN FUND

                                    * * * * * * *

     478.5  Sec. 9009. Reports to Congress; regulations.
     478.6  (a) Reports.
                The Commission shall, as soon as practicable after each 
            presidential election, submit a full report to the Senate 
            and House of Representatives setting forth--
                        (1) the qualified campaign expenses (shown in 
                    such detail as the Commission determines necessary) 
                    incurred by the candidates of each political party 
                    and their authorized committees;
                        (2) the amounts certified by it under section 
                    9005 for payment to the eligible candidates for each 
                    political party;
                        (3) the amount of payments, if any, required 
                    from such candidates under section 9007, and the 
                    reasons for each payment required;
                        (4) the expensees incurred by the national 
                    committee of a major party or minor party with 
                    respect to a presidential nominating convention;
                        (5) the amounts certified by it under section 
                    9008(g) for payment to each such committee; and
                        (6) the amount of payments, if any, required 
                    from such committees under section 9008(h), and the 
                    reasons for each such payment.

            Each report submitted pursuant to this section shall be 
            printed as a Senate document.

     478.7  (b) Regulations, etc.
                The Commission is authorized to prescribe such rules and 
            regulations in accordance with the provisions of subsection 
            (c), to conduct such examinations and audits (in addition to 
            the examinations and audits required by section 9007(a)), to 
            conduct such investigations, and to require the keeping and 
            submission of such books, records, and information, as it 
            deems necessary to carry out the functions and duties 
            imposed on it by this chapter.
     478.8   (c) Review of regulations.
                (1) The Commission, before prescribing any rule or 
            regulation under subsection (b), shall transmit a statement 
            with respect to such rule or regulation to the Senate and to 
            the House of Representatives, in accordance with the 
            provisions of this subsection. Such statement shall set 
            forth the proposed rule or regulation and shall contain a 
            detailed explanation and justification of such rule or 
            regulation.
                (2) If either such House does not, through appropriate 
            action, disapprove the proposed rule or regulation set forth 
            in such statement no later than 30 legislative days after 
            receipt of such statement, then the Commission may prescribe 
            such rule or regulation. Whenever a committee of the House 
            of Representatives reports any resolution relating to any 
            such rule or regulation, it is at any time thereafter in 
            order

[[Page 727]]

            (even though a previous motion to the same effect has been 
            disagreed to) to move to proceed to the consideration of the 
            resolution. The motion is highly privileged and is not 
            debatable. An amendment to the motion is not in order, and 
            it is not in order to move to reconsider the vote by which 
            the motion is agreed to or disagreed to. The Commission may 
            not prescribe any rule or regulation which is disapproved by 
            either such House under this paragraph.
                (3) For purposes of this subsection, the term 
            ``legislative days'' does not include any calendar day on 
            which both Houses of the Congress are not in session.
                (4) For purposes of this subsection, the term ``rule or 
            regulation'' means a provision or series of interrelated 
            provisions stating a single separable rule of law. (Dec. 10, 
            1971, Pub. L. 92-178, Sec. 801, 85 Stat. 569; Oct. 15, 1974, 
            Pub. L. 93-443, Secs. 404(c)(12), (13), 406(b), 88 Stat. 
            1292, 1296; May 11, 1976, Pub. L. 94-283, Sec. 304(a), 90 
            Stat. 498.)

                                    * * * * * * *

            
             Chapter 96.--PRESIDENTIAL PRIMARY MATCHING PAYMENT ACCOUNT

                                    * * * * * * *

    478.10  Sec. 9039. Reports to Congress; regulations.
    478.11   (a) Reports.
                The Commission shall, as soon as practicable after each 
            matching payment period, submit a full report to the Senate 
            and House of Representatives setting forth--
                        (1) the qualified campaign expenses (shown in 
                    such detail as the Commission determines necessary) 
                    incurred by the candidates of each political party 
                    and their authorized committees,
                        (2) the amounts certified by it under section 
                    9036 for payment to each eligible candidate, and
                        (3) the amount of payments, if any, required 
                    from candidates under section 9038, and the reasons 
                    for each payment required.

            Each report submitted pursuant to this section shall be 
            printed as a Senate document.

    478.12  (b) Regulations, etc.
                The Commission is authorized to prescribe rules and 
            regulations in accordance with the provisions of subsection 
            (c), to conduct examinations and audits (in addition to the 
            examinations and audits required by section 9038(a)), to 
            conduct investigations, and to require the keeping and 
            submission of any books, records, and information, which it 
            determines to be necessary to carry out its responsibilities 
            under this chapter.
    478.13  (c) Review of regulations.
                (1) The Commission, before prescribing any rule or 
            regulation under subsection (b), shall transmit a statement 
            with respect to such rule or regulation to the Senate and to 
            the House of Representatives, in accordance with the 
            provisions of this subsection. Such statement shall set 
            forth the proposed rule or regulation and shall contain a 
            detailed explanation and justification of such rule or 
            regulation.
                (2) If either such House does not, through appropriate 
            action, disapprove the proposed rule or regulation set forth 
            in such statement

[[Page 728]]

            no later than 30 legislative days after receipt of such 
            statement, then the Commission may prescribe such rule or 
            regulation. Whenever a committee of the House of 
            Representatives reports any resolution relating to any such 
            rule or regulation, it is at any time thereafter in order 
            (even though a previous motion to the same effect has been 
            disagreed to) to move to proceed to the consideration of the 
            resolution. The motion is highly privileged and is not 
            debatable. An amendment to the motion is not in order, and 
            it is not in order to move to reconsider the vote by which 
            the motion is agreed to or disagreed to. The Commission may 
            not prescribe any rule or regulation which is disapproved by 
            either such House under this paragraph.
                (3) For purposes of this subsection, the term 
            ``legislative days'' does not include any calendar day on 
            which both Houses of the Congress are not in session.
                (4) For purposes of this subsection, the term ``rule or 
            regulation'' means a provision or series of interrelated 
            provisions stating a single separable rule of law. (Oct. 15, 
            1974, Pub. L. 93-443, Sec. 408(c), 88 Stat. 1301; May 11, 
            1976, Pub. L. 94-283, Sec. 304(b), 90 Stat. 499.)

                                    * * * * * * *

            
                            SUBTITLE I.--TRUST FUND CODE

            
                            Chapter 98.--Trust Fund Code

                                    * * * * * * *

            
                          Subchapter B.--General Provisions

                                    * * * * * * *

    478.14  Sec. 9602. Management of trust funds.
    478.15  (a) Report.
                It shall be the duty of the Secretary of the Treasury to 
            hold each Trust Fund established by subchapter A, and (after 
            consultation with any other trustees of the Trust Fund) to 
            report to the Congress each year on the financial condition 
            and the results of the operations of each such Trust Fund 
            during the preceding fiscal year and on its expected 
            condition and operations during the next 5 fiscal years. 
            Such report shall be printed as a House document of the 
            session of the Congress to which the report is made. (Dec. 
            29, 1981, Pub. L. 97-119, Sec. 103(a), 95 Stat. 1638.)