EXEMPTION FROM RETAILERS EXCISE TAXES FOR NON-PROFIT EDUCATIONAL ORGANIZATIONS.

SEC. 105. EXEMPTION FROM RETAILERS EXCISE TAXES FOR NON-PROFIT EDUCATIONAL ORGANIZATIONS. (a) Exemption.— Subchapter F of chapter 31 (special provisions applicable to retailers tax) is amended by renumbering section 4057 as 4058, and by inserting after section 4056 the following new section: “SEC. 4057. EXEMPTION FOR NONPROFIT EDUCATIONAL ORGANIZATIONS.“Under regulations prescribed by the Secretary or his delegate, no tax shall be imposed under this chapter with respect to the sale of any article to a nonprofit educational organization for its exclusive use, or, in the case of a tax imposed by section 4041, with respect to the use by a nonprofit educational organization of any liquid as a fuel. For purposes of this section, the term ‘nonprofit educational organization’ means an educational organization described in section 503 (b) (2) which is exempt from income tax under section 501 (a).” (b) Clerical Amendment.—The table of sections for subchapter F of chapter 31 is amended by striking out “Sec. 4057. Cross reference.” and inserting in lieu thereof “Sec. 4057. Exemption for nonprofit educational organizations. “Sec. 4058. Cross reference.”