Page:United States Statutes at Large Volume 124.djvu/1327

 124 STAT. 1301 PUBLIC LAW 111–192—JUNE 25, 2010 ‘‘(D) SPECIAL RULE FOR CERTAIN YEARS OF PLANS MAIN- TAINED BY CHARITIES.— ‘‘(i) IN GENERAL.—For purposes of applying subparagraph (C) for plan years beginning after August 31, 2009, and before September 1, 2011, the ratio deter- mined under such subparagraph for the preceding plan year shall be the greater of— ‘‘(I) such ratio, as determined without regard to this subparagraph, or ‘‘(II) the ratio for such plan for the plan year beginning after August 31, 2007, and before Sep- tember 1, 2008, as determined under rules pre- scribed by the Secretary of the Treasury. ‘‘(ii) SPECIAL RULE.—In the case of a plan for which the valuation date is not the first day of the plan year— ‘‘(I) clause (i) shall apply to plan years begin- ning after December 31, 2008, and before January 1, 2011, and ‘‘(II) clause (i)(II) shall apply based on the last plan year beginning before September 1, 2007, as determined under rules prescribed by the Sec- retary of the Treasury. ‘‘(iii) LIMITATION TO CHARITIES.—This subpara- graph shall not apply to any plan unless such plan is maintained exclusively by one or more organizations described in section 501(c)(3) of the Internal Revenue Code of 1986.’’. (b) AMENDMENT TO INTERNAL REVENUE CODE OF 1986.—Para- graph (3) of section 430(f) of the Internal Revenue Code of 1986 is amended by adding the following at the end thereof: ‘‘(D) SPECIAL RULE FOR CERTAIN YEARS OF PLANS MAIN- TAINED BY CHARITIES.— ‘‘(i) IN GENERAL.—For purposes of applying subparagraph (C) for plan years beginning after August 31, 2009, and before September 1, 2011, the ratio deter- mined under such subparagraph for the preceding plan year of a plan shall be the greater of— ‘‘(I) such ratio, as determined without regard to this subsection, or ‘‘(II) the ratio for such plan for the plan year beginning after August 31, 2007 and before Sep- tember 1, 2008, as determined under rules pre- scribed by the Secretary. ‘‘(ii) SPECIAL RULE.—In the case of a plan for which the valuation date is not the first day of the plan year— ‘‘(I) clause (i) shall apply to plan years begin- ning after December 31, 2007, and before January 1, 2010, and ‘‘(II) clause (i)(II) shall apply based on the last plan year beginning before September 1, 2007, as determined under rules prescribed by the Sec- retary. ‘‘(iii) LIMITATION TO CHARITIES.—This subpara- graph shall not apply to any plan unless such plan Time periods. 26 USC 430. Time periods.