S1105-118

2. Organizations exempt from reporting Clause (ii) of section 6033(a)(3)(A) of the Internal Revenue Code of 1986 is amended by striking $5,000 and inserting $50,000. Subparagraph (C) of section 6033(a)(3) of the Internal Revenue Code of 1986 is amended— by striking and at the end of clause (v), by striking the period at the end of clause (vi) and inserting a semicolon, and by adding at the end the following new clauses: any other organization described in section 501(c) (other than a private foundation or a supporting organization described in section 509(a)(3)); and any organization (other than a private foundation or a supporting organization described in section 509(a)(3)) which is not described in section 170(c)(2)(A), or which is created or organized in a possession of the United States, which has no significant activity (including lobbying and political activity and the operation of a trade or business) other than investment activity in the United States. The amendments made by this section shall apply to taxable years ending after the date of the enactment of this Act. (vii)any other organization described in section 501(c) (other than a private foundation or a supporting organization described in section 509(a)(3)); and(viii)any organization (other than a private foundation or a supporting organization described in section 509(a)(3)) which is not described in section 170(c)(2)(A), or which is created or organized in a possession of the United States, which has no significant activity (including lobbying and political activity and the operation of a trade or business) other than investment activity in the United States..