26 U.S.C. § 6720B — Fraudulent identification of exempt use property
submitted 20 years ago by Pub. L. 109-280 to r/title-26-INTERNAL-REVENUE-CODE · 61 words · no verdicts yet
A person who knowingly claims that property will be used for an exempt organization’s qualifying purpose when it will not be used that way owes a $10,000 penalty.
In addition to any criminal penalty, a person who identifies applicable property, as defined in section 170(e)(7)(C), as having a use related to the purpose or function supporting a donee’s section 501 exemption, while knowing the property is not intended for that use, must pay $10,000.
In addition to any criminal penalty provided by law, any person who identifies applicable property (as defined in section 170(e)(7)(C)) as having a use which is related to a purpose or function constituting the basis for the donee’s exemption under section 501 and who knows that such property is not intended for such a use shall pay a penalty of $10,000.
Source credit: (Added Pub. L. 109–280, title XII, § 1215(c)(1), Aug. 17, 2006, 120 Stat. 1079.)
- 2006Enacted · Pub. L. 109-280 · 120 Stat. 1079
A history note hasn’t been published yet. The record shows enactment by Pub. L. 109-280 on 2006-08-17.
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