{"identifier":"/us/usc/t2/s1953","title":2,"num":"\u00a7\u202f1953.","heading":"Tax treatment of Fund","text":"\u00a7\u202f1953.\nTax treatment of Fund\n(a)\nContributions to Fund\nFor purposes of title 26, any contribution or gift to or for the use of the Fund shall be treated as a contribution or gift for exclusively public purposes to or for the use of an organization described in\nsection 170(c)(1) of title 26\n(b)\nTreatment of payments from Fund\nAny payment from the Fund shall not be subject to any Federal, State, or local income or gift tax.\n(c)\nExemption\nFor purposes of title 26, notwithstanding\nsection 501(c)(1)(A) of title 26\nsection 501(c)(1) of title 26\nsection 501(a) of title 26","url":"https://projectusc.org/usc/t2/s1953.html","content":[{"t":"sec","id":"/us/usc/t2/s1953","children":[{"t":"num","text":"\u00a7\u202f1953."},{"t":"heading","text":"Tax treatment of Fund"},{"t":"subsec","id":"/us/usc/t2/s1953/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Contributions to Fund"},{"t":"content","children":[{"t":"p","text":"For purposes of title 26, any contribution or gift to or for the use of the Fund shall be treated as a contribution or gift for exclusively public purposes to or for the use of an organization described in ","children":[{"t":"ref","text":"section 170(c)(1) of title 26","href":"/us/usc/t26/s170/c/1","tail":"."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t2/s1953/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Treatment of payments from Fund"},{"t":"content","children":[{"t":"p","text":"Any payment from the Fund shall not be subject to any Federal, State, or local income or gift tax.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t2/s1953/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Exemption"},{"t":"content","children":[{"t":"p","text":"For purposes of title 26, notwithstanding ","children":[{"t":"ref","text":"section 501(c)(1)(A) of title 26","href":"/us/usc/t26/s501/c/1/A","tail":", the Fund shall be treated as described in "},{"t":"ref","text":"section 501(c)(1) of title 26","href":"/us/usc/t26/s501/c/1","tail":" and exempt from tax under "},{"t":"ref","text":"section 501(a) of title 26","href":"/us/usc/t26/s501/a","tail":"."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}