excess business holdings

(6) Special rule for certain holdings of type III supporting organizations For purposes of this subsection, the term “excess business holdings” shall not include any holdings of a type III supporting organization in any business enterprise if, as of November 18, 2005 , the holdings were held (and at all times thereafter, are held) for the benefit of the community pursuant to the direction of a State attorney general or a State official with jurisdiction over such organization.

Source

26 USC § 4943(f)(6)


Scoping language

For purposes of this subsection
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