Page:United States Statutes at Large Volume 83.djvu/554

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[83 STAT. 526]
[83 STAT. 526]
PUBLIC LAW 91-000—MMMM. DD, 1969

526

PUBLIC LAW 91-172-DEC. 30, 1969 "(g)

Ante. p. 498.

SPECIAL RULES FOK

CHAPTER

"(1)

CERTAIN EXCISE

[83 STAT.

TAXES IMPOSED BY

42.—

R I G H T TO BRING ACTIONS.—With respect to any

act

(or

failure to act) giving rise to liability under section 4941,4942,4943, 4944, or 4945, payment of the full amount of tax imposed under section 4941(a) (relating to initial taxes on self-dealing), section 4942(a) (relating to initial tax on failure to distribute income), section 4943(a) (relating to initial tax on excess business holdings), section 4944(a) (relating to initial taxes on investments which jeopardize charitable purpose), section 4945(a) (relating to initial taxes on taxable expenditures), section 4941(b) (relating to additional taxes on self-dealing), section 4942(b) (relating to additional tax on failure to distribute income), section 4943(b) (relating to additional tax on excess business holdings), section 4944(b) (relating to additional taxes on investments which jeopardize charitable purpose), or section 4945(b) (relating to additional taxes on taxable expenditures) shall constitute sufficient payment in order to maintain an action under this section with respect to such act (or failure to act). "(2) LIMITATION ON SUIT FOR REFUND.—No suit may be maintained under this section for the credit or refund of any tax imposed under section 4941, 4942, 4943, 4944, or 4945 with respect to any act (or failure to act) giving rise to liability for tax under such sections, unless no other suit has been maintained for credit or refund of, and no petition has been filed in the Tax Court with respect to a deficiency in, any other tax imposed by such sections with respect to such act (or failure to act). "(3) F I N A L DETERMINATION OF ISSUES.—For purposes of this section, any suit for the credit or refund of any tax imposed under section 4941, 4942, 4943, 4944, or 4945 with respect to any act (or failure to act) giving rise to liability for tax under such sections, shall constitute a suit to determine all questions with respect to any other tax imposed with respect to such act (or failure to act) under such sections, and failure by the parties to such suit to bring any such question before the Court shall constitute a bar to such question." (j) TECHNICAL, CONFORMING, AND CLERICAL AMENDMENTS.— 72 Stat. 1622 26 USC 101.

Post, p. 549.

68A Stat. 163.

(1) Section 101(b)(2)(B) (iii) (relating to nonforfeitable rights) is amended by striking out "section 503(b)(1), (2), or (3)" and inserting in lieu thereof "section 170(b)(1)(A) (ii) or (vi) or which is a religious organization (other than a trust). (2) Section 170(i) (relating to disallowance of deductions in certain cases) (as redesignated by section 201(a)(1)(A) of this Act) is amended— (A) by striking out paragraph (1), and (B) by striking out "(2) For disallowance" and inserting in lieu thereof "For disallowance". ^3^ Section 501(a) (relating to exemption from taxation) is amended by striking out "502, 503, or 504" and inserting in lieu thereof "502 or 503". (4) Section 501(b) (relating to tax on unrelated business income) is amended to read as follows: "(b)

TAX ON UNRELATED BUSINESS INCOME AND CERTAIN OTHER

ACTIVITIES.—An organization exempt from taxation under subsection (a) shall be subject to tax to the extent provided in parts II and III of this subchapter, but (notwithstanding parts II and III of this subchapter) shall be considered an organization exempt from income