Page:United States Statutes at Large Volume 98 Part 1.djvu/911

 PUBLIC LAW 98-369—JULY 18, 1984

98 STAT. 863

"(A) there is no plan, but "(B) there is a method or arrangement of employer contributions or compensation which has the effect of a stock bonus, pension, profit-sharing, or annuity plan, or other plan deferring the receipt of compensation (including a plan described in paragraph (2)), subsection (a) shall apply as if there were such a plan. "(2) PLANS PROVIDING UNFUNDED DEFERRED BENEFITS.—

"(A) IN GENERAL.—For purposes of this section, any plan providing for deferred benefits (other than compensation) for employees, their spouses, or their dependents shall be treated as a plan deferring the receipt of compensation. In the case of such a plan, for purposes of this section, the determination of when an amount is includible in gross income shall be made without regard to any provisions of this chapter excluding such benefits from gross income. "(B) EXCEPTION FOR CERTAIN BENEFITS.—Subparagraph

(A) shall not apply to— "(i) any benefit provided through a welfare benefit fund (as defined in section 419(e)), or "(ii) to any benefit with respect to which an election under section 463 applies." (b) CROSS REFERENCE.—Subsection (j) of section 162 (relating to cross references) is amended by adding at the end thereof the following new paragraph: "(3) For special rules relating to— "(A) funded welfare benefit plans, see section 419, and "(B) deferred compensation and other deferred benefits, see section 404." (c) EFFECTIVE DATE.— (1) IN GENERAL.—Except as provided in paragraph (2), the amendments made by this section shall apply to amounts paid or incurred after the date of the enactment of this Act in taxable years ending after such date. (2) EXCEPTION FOR CERTAIN EXTENDED VACATION PAY PLANS.—

In the case of any extended vacation pay plan maintained pursuant to a collective bargaining agreement— (A) between employee representatives and 1 or more employers, and (B) in effect on June 22, 1984, the amendments made by this section shall not apply before the date on which such collective bargaining agreement terminates (determined without regard to any extension thereof agreed to after June 22, 1984). For purposes of the preceding sentence, any plan amendment made pursuant to a collective bargaining agreement relating to the plan which amends the plan solely to conform to any requirement added by this section shall not be treated as a termination of such collective bargaining agreement. SEC. 513. ADDITIONAL REQUIREMENTS FOR TAX-EXEMPT STATUS OF CERTAIN ORGANIZATIONS.

(a) GENERAL RULE.—Part I of subchapter F of chapter 1 (relating to exempt organizations) is amended by adding at the end thereof the following new section:

Ante, p. 854. 26 USC 162.

Ante, p. 854. 26 USC 404 note.

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