Ill STAT. 894 PUBLIC LAW 105-34—AUG. 5, 1997 "(A) IN GENERAL.— The term 'qualified sponsorship pay- ment' means any payment made by any person engaged in a trade or business with respect to which there is no arrangement or expectation that such person will receive any substantial return benefit other than the use or acknowledgement of the name or logo (or product lines) of such person's trade or business in connection with the activities of the organization that receives such payment. Such a use or acknowledgement does not include advertising such person's products or services (including messages containing qualitative or comparative language, price information, or other indications of savings or value, an endorsement, or an inducement to purchase, sell, or use such products or services). " (B) LIMITATIONS.— "(i) CONTINGENT PAYMENTS.—The term 'qualified sponsorship payment' does not include any payment if the amount of such payment is contingent upon the level of attendance at one or more events, broadcast ratings, or other factors indicating the degree of public exposure to one or more events. " (ii) SAFE HARBOR DOES NOT APPLY TO PERIODICALS AND QUALIFIED CONVENTION AND TRADE SHOW ACTIVI- TIES. — The term 'qualified sponsorship payment' does not include— "(I) any payment which entitles the payor to the use or acknowledgement of the name or logo (or product lines) of the payor's trade or business in regularly scheduled and printed material published by or on behalf of the payee organization that is not related to and primarily distributed in connection with a specific event conducted by the payee organization, or "(II) any payment made in connection with any qualified convention or trade show activity (as defined in subsection (d)(3)(B)), " (3) ALLOCATION OF PORTIONS OF SINGLE PAYMENT.—For purposes of this subsection, to the extent that a portion of a payment would (if made as a separate payment) be a qualified sponsorship payment, such portion of such payment and the other portion of such payment shall be treated as separate payments.". 26 USC 513 note. (b) EFFECTIVE DATE. —The amendment made by this section shall apply to payments solicited or received after December 31, 1997. SEC. 966. ASSOCIATIONS OF HOLDERS OF TIMESHARE INTERESTS TO BE TAXED LIKE OTHER HOMEOWNERS ASSOCIATIONS. (a) TIMESHARE ASSOCUTIONS INCLUDED AS HOMEOWNER ASSOCIATIONS.— (1) IN GENERAL. —Paragraph (1) of section 528(c) (defining homeowners association) is amended— (A) by striking "or a residential real estate management association" and inserting ", a residential real estate management association, or a timeshare association" in the material preceding subparagraph (A),
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