exempt function income
(3) Exempt function income For purposes of this subsection, the term “exempt function income” means any amount received as membership dues, fees, or assessments from— (A) owners of condominium housing units in the case of a condominium management association, (B) owners of real property in the case of a residential real estate management association, or (C) owners of timeshare rights to use, or timeshare ownership interests in, real property in the case of a timeshare association.