Amendments
2018—[Pub. L. 115–141] substituted “political organizations” for “political organization” in section catchline.
Statutory Notes and Related Subsidiaries
Effective Date
[Pub. L. 93–625, § 13(b)], Jan. 3, 1975, [88 Stat. 2121], provided that: “The amendments made by subsection (a) [enacting this section] shall apply to transfers made after May 7, 1974, in taxable years ending after such date.”
Nonrecognition of Gain or Loss Where Organization Sold Contributed Property Before August 2, 1973
[Pub. L. 93–625, § 13(c)], Jan. 3, 1975, [88 Stat. 2121], provided that in the case of the sale or exchange of property before Aug. 2, 1973, which was acquired by the exempt political organization by contribution, no gain or loss shall be recognized by such organization.