GIFT TAX NOT TO APPLY TO CONTRIBUTIONS TO CERTAIN EXEMPT ORGANIZATIONS.

SEC. 408. GIFT TAX NOT TO APPLY TO CONTRIBUTIONS TO CERTAIN EXEMPT ORGANIZATIONS. (a) [26 U.S.C. 2501] In General.—Section 2501(a) is amended by adding at the end the following new paragraph: “(6) Transfers to certain exempt organizations.—Paragraph (1) shall not apply to the transfer of money or other property to an organization described in paragraph (4), (5), or (6) of section 501(c) and exempt from tax under section 501(a), for the use of such organization.” . (b) [26 U.S.C. 2501 note] Effective Date.—The amendment made by subsection (a) shall apply to gifts made after the date of the enactment of this Act. (c) [26 U.S.C. 2501 note] No Inference.—Nothing in the amendment made by subsection (a) shall be construed to create any inference with respect to whether any transfer of property (whether made before, on, or after the date of the enactment of this Act) to an organization described in paragraph (4), (5), or (6) of section 501(c) of the Internal Revenue Code of 1986 is a transfer of property by gift for purposes of chapter 12 of such Code.