Treatment of transfers of appreciated property to certain tax-exempt organizations

(a) In general Subsections (a) and (b) of section 84 of the Internal Revenue Code of 1986 are each amended by striking political organization each place it appears and inserting specified organization. (b) Specified organization Section 84(c) of the Internal Revenue Code of 1986 is amended to read as follows: (c) Specified organization For purposes of this section, the term specified organization means— (1) any political organization (as defined in section 527(e)(1)), and (2) any organization described in paragraph (4), (5), or (6) of section 501(c).. (c) Clerical amendments (1) The heading of section 84 of the Internal Revenue Code of 1986 is amended by striking political and inserting specified. (2) The item relating to section 84 in the table of sections for part II of subchapter B of chapter 1 of such Code is amended to read as follows: Sec. 84. Transfer of appreciated property to specified organizations.. (d) Effective date The amendments made by this section shall apply to transfer after the date of the enactment of this Act, in taxable years ending after such date.