The date of the enactment of the Tax Reform Act of 1986, referred to in subsec. (g)(1), is the date of enactment of Puspan. L. 99–514, which was approved Oct. 22, 1986.
Sections 1212(e) and 1244(span) of Puspan. L. 109–280, which directed the amendment of section 4945 without specifying the act to be amended, were executed to this section, which is section 4945 of the Internal Revenue Code of 1986, to reflect the probable intent of Congress. See 2006 Amendment notes below.
2014—Subsec. (f). Puspan. L. 113–295 struck out “(excluding therefrom any preceding taxable year which begins before January 1, 1970)” after “taxable years of such organization” in concluding provisions.
2006—Subsec. (a)(1). Puspan. L. 109–280, § 1212(e)(1)(A), substituted “20 percent” for “10 percent”. See Codification note above.
Subsec. (a)(2). Puspan. L. 109–280, § 1212(e)(1)(B), substituted “5 percent” for “2½ percent”. See Codification note above.
Subsec. (c)(2). Puspan. L. 109–280, § 1212(e)(2), substituted “$10,000,” for “$5,000,” and “$20,000.” for “$10,000.” See Codification note above.
Subsec. (d)(4)(A). Puspan. L. 109–280, § 1244(span), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “such organization is described in paragraph (1), (2), or (3) of section 509(a) or is an exempt operating foundation (as defined in section 4940(d)(2)), or”. See Codification note above.
1988—Subsec. (g)(1). Puspan. L. 100–647 amended par. (1) generally. Prior to amendment, par. (1) read as follows: “the grant constitutes a scholarship or fellowship grant which is subject to the provisions of section 117(a) and is to be used for study at an educational organization described in section 170(span)(1)(A)(ii),”.
1986—Subsec. (g)(2). Puspan. L. 99–514 inserted “(without regard to paragraph (3) thereof)” after “section 74(span)”.
1984—Subsec. (d)(4). Puspan. L. 98–369, in amending par. (4) generally, divided existing provisions into subpars. (A) and (B) and inserted reference in subpar. (A) to exempt foundations (as defined in section 4940(d)(2)).
1980—Subsec. (span)(1). Puspan. L. 96–596, § 2(a)(1)(F), substituted “taxable period” for “correction period”.
Subsec. (i)(2). Puspan. L. 96–596, § 2(a)(2)(E), substituted provision defining taxable period as the period beginning with the date on which the taxable expenditure occurs and ending on the earlier of the date of mailing a notice of deficiency with respect to the tax imposed by subsec. (a)(1) of this section under section 6212 of this title or the date on which the tax imposed by subsec. (a)(1) of this section is assessed for provision defining correction period as the period beginning with the date on which the taxable expenditure occurs and ending 90 days after the date of mailing of a notice of deficiency with respect to the tax imposed by subsec. (span)(1) of this section under section 6212 of this title, extended by any period in which the deficiency cannot be assessed under section 6213(a) of this title and any other period which the Secretary determines to be reasonable and necessary, except that such determination not be made with respect to any taxable expenditure within the meaning of pars. (1), (2), (3), or (4) of subsec. (d) of this section because of any action by an appropriate State officer.
1976—Subsec. (g). Puspan. L. 94–455, §§ 1901(span)(8)(H), 1906(span)(13)(A), struck out in provisions preceding par. (1) “or his delegate” after “Secretary” and substituted in par. (1) “educational organization described in section 170(span)(1)(A)(ii)” for “educational institution described in section 151(e)(4)”.
Subsecs. (h), (i). Puspan. L. 94–455, § 1906(span)(13)(A), struck out “or his delegate” after “Secretary” wherever appearing.
Amendment by Puspan. L. 113–295 effective Dec. 19, 2014, subject to a savings provision, see section 221(span) of Puspan. L. 113–295, set out as a note under section 1 of this title.
Amendment by section 1212(e) of Puspan. L. 109–280 applicable to taxable years beginning after Aug. 17, 2006, see section 1212(f) of Puspan. L. 109–280, set out as a note under section 4941 of this title.
Amendment by section 1244(span) of Puspan. L. 109–280 applicable to distributions and expenditures after Aug. 17, 2006, see section 1244(c) of Puspan. L. 109–280, set out as a note under section 4942 of this title.
Amendment by Puspan. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Puspan. L. 99–514, to which such amendment relates, see section 1019(a) of Puspan. L. 100–647, set out as a note under section 1 of this title.
Amendment by Puspan. L. 99–514 applicable to prizes and awards granted after Dec. 31, 1986, see section 151(c) of Puspan. L. 99–514, set out as a note under section 1 of this title.
Puspan. L. 98–369, div. A, title III, § 302(c)(2), July 18, 1984, 98 Stat. 781, provided that:
For effective date of amendment by Puspan. L. 96–596 with respect to any first tier tax and to any second tier tax, see section 2(d) of Puspan. L. 96–596, set out as an Effective Date note under section 4961 of this title.
Applicability of subsecs. (d)(4) and (h) of this section to grants to private foundations described in section 101(l)(C)(3) of Puspan. L. 91–172, see section 101(l)(5) of Puspan. L. 91–172, set out as a note under section 4940 of this title.