r/title-26-INTERNAL-REVENUE-CODE wiki — defined terms

“contractual counterparty” applies in that section

the term “contractual counterparty” means an entity with which the taxpayer has entered into a contract, agreement, or other arrangement. (iii) Guidance Not later than December 31, 2026 , the Secretary shall issue such guidance as is necessary to carry out the purposes of this subparagraph, including establishment of rules to prevent entities from evading, circumventing, or abusing the application of the restrictions against impermissible technology licensing arrangements with specified foreign entities, such as through temporary transfers of intellectual property, retention by a specified foreign entity of a reversionary interest in transferred intellectual property, or otherwise.

“control” applies in that section

the term “control” means— (i) in the case of a corporation, ownership (by vote or value) of more than 50 percent of the stock in such corporation, (ii) in the case of a partnership, ownership of more than 50 percent of the profits interests or capital interests in such partnership, or (iii) in any other case, ownership of more than 50 percent of the beneficial interests in the entity. (H) Determination of ownership For purposes of this paragraph, section 318(a)(2) shall apply for purposes of determining ownership of stock in a corporation. Similar principles shall apply for purposes of determining ownership of interests in any other entity.

“cooperative bank” applies throughout this title

The term “cooperative bank” means an institution without capital stock organized and operated for mutual purposes and without profit, which— (A) is subject by law to supervision and examination by State or Federal authority having supervision over such institutions, and (B) meets the requirements of subparagraphs (B) and (C) of paragraph (19) of this subsection (relating to definition of domestic building and loan association).

“corporation” applies throughout this title

The term “corporation” includes associations, joint-stock companies, and insurance companies. (4) Domestic The term “domestic” when applied to a corporation or partnership means created or organized in the United States or under the law of the United States or of any State unless, in the case of a partnership, the Secretary provides otherwise by regulations. (5) Foreign The term “foreign” when applied to a corporation or partnership means a corporation or partnership which is not domestic. (6) Fiduciary

“covered nation” applies in that section

The term “covered nation” has the same meaning given such term under section 4872(f)(2) of title 10 , United States Code. (iii) Eligible component

“covered officer” applies in that section

the term “covered officer” means, with respect to an entity— (i) a member of the board of directors, board of supervisors, or equivalent governing body, (ii) an executive-level officer, including the president, chief executive officer, chief operating officer, chief financial officer, general counsel, or senior vice president, or (iii) an individual having powers or responsibilities similar to those of officers or members described in clause (i) or (ii). (G) Determination of control For purposes of subparagraph (C)(v),

“domestic building and loan association” applies throughout this title

The term “domestic building and loan association” means a domestic building and loan association, a domestic savings and loan association, and a Federal savings and loan association— (A) which is subject by law to supervision and examination by State or Federal authority having supervision over such associations; (B) the business of which consists principally of acquiring the savings of the public and investing in loans; and (C) at least 60 percent of the amount of the total assets of which (at the close of the taxable year) consists of— (i) cash, (ii) obligations of the United States or of a State or political subdivision thereof, and stock or obligations of a corporation which is an …

“economic substance doctrine” applies in that section

The term “economic substance doctrine” means the common law doctrine under which tax benefits under subtitle A with respect to a transaction are not allowable if the transaction does not have economic substance or lacks a business purpose. (B) Exception for personal transactions of individuals In the case of an individual, paragraph (1) shall apply only to transactions entered into in connection with a trade or business or an activity engaged in for the production of income.

“effective control” applies in that section

the term “effective control” means 1 or more agreements or arrangements similar to those described in subclauses (II) and (III) which provide 1 or more contractual counterparties of a taxpayer with specific authority over key aspects of the production of eligible components, energy generation in a qualified facility, or energy storage which are not included in the measures of control through authority, ownership, or debt held which are described in clause (i)(I).

“eligible component” applies in that section

The term “eligible component” has the same meaning given such term under section 45X(c)(1). (iv) Energy storage technology

“employee” applies throughout this title

the term “employee” shall include a full-time life insurance salesman who is considered an employee for the purpose of chapter 21. (21) Levy

“energy storage technology” applies in that section

The term “energy storage technology” has the same meaning given such term under section 48E(c)(2). (v) Qualified facility

“enrolled actuary” applies throughout this title

The term “enrolled actuary” means a person who is enrolled by the Joint Board for the Enrollment of Actuaries established under subtitle C of the title III of the Employee Retirement Income Security Act of 1974. (36) Tax return preparer (A) In general

“exchanged basis property” applies throughout this title

The term “exchanged basis property” means property having a basis determined under any provision of subtitle A (or under any corresponding provision of prior income tax law) providing that the basis shall be determined in whole or in part by reference to other property held at any time by the person for whom the basis is to be determined. (45) Nonrecognition transaction

“fiduciary” applies throughout this title

The term “fiduciary” means a guardian, trustee, executor, administrator, receiver, conservator, or any person acting in any fiduciary capacity for any person. (7) Stock

“fiscal year” applies throughout this title

The term “fiscal year” means an accounting period of 12 months ending on the last day of any month other than December. (25) Paid or incurred, paid or accrued The terms “paid or incurred” and “paid or accrued” shall be construed according to the method of accounting upon the basis of which the taxable income is computed under subtitle A. (26) Trade or business

“foreign estate” applies throughout this title

The term “foreign estate” means an estate the income of which, from sources without the United States which is not effectively connected with the conduct of a trade or business within the United States, is not includible in gross income under subtitle A. (B) Foreign trust

“foreign government-related individual” applies in that section

The term “foreign government-related individual” means any individual temporarily present in the United States by reason of— (i) diplomatic status, or a visa which the Secretary (after consultation with the Secretary of State) determines represents full-time diplomatic or consular status for purposes of this subsection, (ii) being a full-time employee of an international organization, or (iii) being a member of the immediate family of an individual described in clause (i) or (ii). (C) Teacher or trainee

“foreign trust” applies throughout this title

The term “foreign trust” means any trust other than a trust described in subparagraph (E) of paragraph (30). (32) Cooperative bank

“foreign-controlled entity” applies in that section

the term “foreign-controlled entity” means— (i) the government (including any level of government below the national level) of a covered nation, (ii) an agency or instrumentality of a government described in clause (i), (iii) a person who is a citizen or national of a covered nation, provided that such person is not an individual who is a citizen, national, or lawful permanent resident of the United States, (iv) an entity or a qualified business unit (as defined in section 989(a)) incorporated or organized under the laws of, or having its principal place of business in, a covered nation, or (v) an entity (including subsidiary entities) controlled (as determined under subparagraph (G)) by an …

“foreign-influenced entity” applies in that section

the term “foreign-influenced entity” means an entity— (I) with respect to which, during the taxable year— (aa) a specified foreign entity has the direct authority to appoint a covered officer of such entity, (bb) a single specified foreign entity owns at least 25 percent of such entity, (cc) one or more specified foreign entities own in the aggregate at least 40 percent of such entity, or (dd) at least 15 percent of the debt of such entity has been issued, in the aggregate, to 1 or more specified foreign entities, or (II) which, during the previous taxable year, made a payment to a specified foreign entity pursuant to a contract, agreement, or other arrangement which entitles such specified …

“Indian tribal government” applies throughout this title

The term “Indian tribal government” means the governing body of any tribe, band, community, village, or group of Indians, or (if applicable) Alaska Natives, which is determined by the Secretary, after consultation with the Secretary of the Interior, to exercise governmental functions. (B) Special rule for Alaska Natives No determination under subparagraph (A) with respect to Alaska Natives shall grant or defer any status or powers other than those enumerated in section 7871. Nothing in the Indian Tribal Governmental Tax Status Act of 1982, or in the amendments made thereby, shall validate or invalidate any claim by Alaska Natives of sovereign authority over lands or people. (41) TIN

“individual retirement plan” applies throughout this title

The term “individual retirement plan” means— (A) an individual retirement account described in section 408(a), and (B) an individual retirement annuity described in section 408(b). (38) Joint return

“Internal Revenue Code of 1939” applies throughout this title

the term “Internal Revenue Code of 1939” means the Internal Revenue Code enacted February 10, 1939 , as amended. (30) United States person

“Internal Revenue Code of 1986” applies throughout this title

The term “Internal Revenue Code of 1986” means this title, and

“international organization” applies throughout this title

The term “international organization” means a public international organization entitled to enjoy privileges, exemptions, and immunities as an international organization under the International Organizations Immunities Act ( 22 U.S.C. 288–288f ). (19) Domestic building and loan association

“joint return” applies throughout this title

The term “joint return” means a single return made jointly under section 6013 by a husband and wife. (39) Persons residing outside United States If any citizen or resident of the United States does not reside in (and is not found in) any United States judicial district, such citizen or resident shall be treated as residing in the District of Columbia for purposes of any provision of this title relating to— (A) jurisdiction of courts, or (B) enforcement of summons. (40) Indian tribal government (A) In general

“levy” applies throughout this title

The term “levy” includes the power of distraint and seizure by any means. (22) Attorney General

“manufactured product” applies in that section

The term “manufactured product” means— (I) a manufactured product which is a component of a qualified facility, as described in section 45Y(g)(11)(B) and any guidance issued thereunder, or (II) any product which is identified by the Secretary pursuant to regulations or guidance issued under subparagraph (G). (iv) Qualified facility

“material assistance cost ratio” applies in that section

the term “material assistance cost ratio” means the amount (expressed as a percentage) equal to the quotient of— (I) an amount equal to— (aa) the total direct costs to the taxpayer attributable to all manufactured products (including components) which are incorporated into the qualified facility or energy storage technology upon completion of construction, minus (bb) the total direct costs to the taxpayer attributable to all manufactured products (including components) which are— (AA) incorporated into the qualified facility or energy storage technology upon completion of construction, and (BB) mined, produced, or manufactured by a prohibited foreign entity, divided by (II) the amount …

“material assistance from a prohibited foreign entity” applies in that section

The term “material assistance from a prohibited foreign entity” means— (i) with respect to any qualified facility or energy storage technology, a material assistance cost ratio which is less than the threshold percentage applicable under subparagraph (B), or (ii) with respect to any facility which produces eligible components, a material assistance cost ratio which is less than the threshold percentage applicable under subparagraph (C).

“nonrecognition transaction” applies throughout this title

The term “nonrecognition transaction” means any disposition of property in a transaction in which gain or loss is not recognized in whole or in part for purposes of subtitle A. (46) Determination of whether there is a collective bargaining agreement In determining whether there is a collective bargaining agreement between employee representatives and 1 or more employers, the term “employee representatives” shall not include any organization more than one-half of the members of which are employees who are owners, officers, or executives of the employer.

“or his delegate” applies throughout this title

The term “or his delegate”— (i) when used with reference to the Secretary of the Treasury, means any officer, employee, or agency of the Treasury Department duly authorized by the Secretary of the Treasury directly, or indirectly by one or more redelegations of authority, to perform the function mentioned or described in the context; and (ii) when used with reference to any other official of the United States, shall be similarly construed.

“partner” applies throughout this title

the term “partner” includes a member in such a syndicate, group, pool, joint venture, or organization. (3) Corporation

“partnership” applies throughout this title

The term “partnership” includes a syndicate, group, pool, joint venture, or other unincorporated organization, through or by means of which any business, financial operation, or venture is carried on, and which is not, within the meaning of this title, a trust or estate or a corporation; and

“prohibited foreign entity” applies throughout this title

The term “prohibited foreign entity” means a specified foreign entity or a foreign-influenced entity. (ii) Determination (I) In general Subject to subclause (II), for any taxable year, the determination as to whether an entity is a specified foreign entity or foreign-influenced entity shall be made as of the last day of such taxable year. (II) Initial taxable year For purposes of the first taxable year beginning after the date of enactment of this paragraph, the determination as to whether an entity is a specified foreign entity described in clauses (i) through (iv) of subparagraph (B) shall be made as of the first day of such taxable year.

“qualified blood collector organization” applies throughout this title

The term “qualified blood collector organization” means an organization which is— (A) described in section 501(c)(3) and exempt from tax under section 501(a), (B) primarily engaged in the activity of the collection of human blood, (C) registered with the Secretary for purposes of excise tax exemptions, and (D) registered by the Food and Drug Administration to collect blood. (50) Termination of United States citizenship (A) In general An individual shall not cease to be treated as a United States citizen before the date on which the individual’s citizenship is treated as relinquished under section 877A(g)(4).

“qualified facility” applies in that section

The term “qualified facility” means— (I) a qualified facility, as defined in section 45Y(b)(1), and (II) a qualified facility, as defined in section 48E(b)(3). (vi) Related The term “related” shall have the same meaning given such term under sections 267(b) and 707(b).

“qualified motor vehicle operating agreement” applies in that section

The term “qualified motor vehicle operating agreement” means any agreement with respect to a motor vehicle (including a trailer) which meets the requirements of subparagraphs (B), (C), and (D) of this paragraph. (B) Minimum liability of lessor An agreement meets the requirements of this subparagraph if under such agreement the sum of— (i) the amount the lessor is personally liable to repay, and (ii) the net fair market value of the lessor’s interest in any property pledged as security for property subject to the agreement, equals or exceeds all amounts borrowed to finance the acquisition of property subject to the agreement.

“qualified solid waste disposal facility” applies throughout this title

the term “qualified solid waste disposal facility” means any facility if such facility provides solid waste disposal services for residents of part or all of 1 or more governmental units and substantially all of the solid waste processed at such facility is collected from the general public. (C) Cogeneration facility For purposes of subparagraph (A),

“regulated public utility” applies throughout this title

The term “regulated public utility” means— (A) A corporation engaged in the furnishing or sale of— (i) electric energy, gas, water, or sewerage disposal services, or (ii) transportation (not included in subparagraph (C)) on an intrastate, suburban, municipal, or interurban electric railroad, on an intrastate, municipal, or suburban trackless trolley system, or on a municipal or suburban bus system, or (iii) transportation (not included in clause (ii)) by motor vehicle— if the rates for such furnishing or sale, as the case may be, have been established or approved by a State or political subdivision thereof, by an agency or instrumentality of the United States, by a public service or public …

“related entity” applies in that section

the term “related entity” has the same meaning as when used in section 168(h). (B) Special rules for application of subparagraph (A) with respect to certain rights and allocations under the contract For purposes of subparagraph (A), there shall not be taken into account— (i) any right of a service recipient to inspect any facility, to exercise any sovereign power the service recipient may possess, or to act in the event of a breach of contract by the service provider, or (ii) any allocation of any financial burden or benefits in the event of any change in any law. (C) Special rules for application of subparagraph (A) in the case of certain events (i) Temporary shut-downs, etc.

“Secretary” applies throughout this title

The term “Secretary” means the Secretary of the Treasury or his delegate. (12) Delegate (A) In general

“Secretary of the Treasury” applies throughout this title

The term “Secretary of the Treasury” means the Secretary of the Treasury, personally, and shall not include any delegate of his. (B) Secretary

“shareholder” applies throughout this title

The term “shareholder” includes a member in an association, joint-stock company, or insurance company. (9) United States The term “United States” when used in a geographical sense includes only the States and the District of Columbia. (10) State The term “State” shall be construed to include the District of Columbia, where such construction is necessary to carry out provisions of this title. (11) Secretary of the Treasury and Secretary (A) Secretary of the Treasury

“specified foreign entity” applies in that section

the term “specified foreign entity” means— (i) a foreign entity of concern described in subparagraph (A), (B), (D), or (E) of section 9901(8) of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 ( Public Law 116–283 ; 15 U.S.C. 4651 ), (ii) an entity identified as a Chinese military company operating in the United States in accordance with section 1260H of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 ( Public Law 116–283 ; 10 U.S.C. 113 note), (iii) an entity included on a list required by clause (i), (ii), (iv), or (v) of section 2(d)(2)(B) of Public Law 117–78 ( 135 Stat.

“stock” applies throughout this title

The term “stock” includes shares in an association, joint-stock company, or insurance company. (8) Shareholder

“storage facility” applies throughout this title

the term “storage facility” means a facility which uses energy storage technology within the meaning of section 48(c)(6). (4) Paragraph (3) not to apply in certain cases (A) In general Paragraph (3) shall not apply to any qualified solid waste disposal facility, cogeneration facility, alternative energy facility, water treatment works facility, or storage facility used under a contract or arrangement if— (i) the service recipient (or a related entity) operates such facility, (ii) the service recipient (or a related entity) bears any significant financial burden if there is nonperformance under the contract or arrangement (other than for reasons beyond the control of the service provider), …

“student” applies in that section

The term “student” means any individual— (i) who is temporarily present in the United States— (I) under subparagraph (F) or (M) of section 101(15) of the Immigration and Nationality Act, or (II) as a student under subparagraph (J) or (Q) of such section 101(15), and (ii) who substantially complies with the requirements for being so present.

“substituted basis property” applies throughout this title

The term “substituted basis property” means property which is— (A) transferred basis property, or (B) exchanged basis property. (43) Transferred basis property

“Tax Court” applies throughout this title

The term “Tax Court” means the United States Tax Court. (28) Other terms Any term used in this subtitle with respect to the application of, or in connection with, the provisions of any other subtitle of this title shall have the same meaning as in such provisions. (29) Internal Revenue Code

“tax return preparer” applies throughout this title

The term “tax return preparer” means any person who prepares for compensation, or who employs one or more persons to prepare for compensation, any return of tax imposed by this title or any claim for refund of tax imposed by this title. For purposes of the preceding sentence, the preparation of a substantial portion of a return or claim for refund shall be treated as if it were the preparation of such return or claim for refund.

“taxable year” applies throughout this title

The term “taxable year” means the calendar year, or the fiscal year ending during such calendar year, upon the basis of which the taxable income is computed under subtitle A. “Taxable year” means, in the case of a return made for a fractional part of a year under the provisions of subtitle A or under regulations prescribed by the Secretary, the period for which such return is made. (24) Fiscal year

“taxpayer” applies throughout this title

The term “taxpayer” means any person subject to any internal revenue tax. (15) Military or naval forces and armed forces of the United States The term “military or naval forces of the United States” and the term “Armed Forces of the United States” each includes all regular and reserve components of the uniformed services which are subject to the jurisdiction of the Secretary of Defense, the Secretary of the Army, the Secretary of the Navy, or the Secretary of the Air Force, and each term also includes the Coast Guard. The members of such forces include commissioned officers and personnel below the grade of commissioned officers in such forces. (16) Withholding agent

“teacher or trainee” applies in that section

The term “teacher or trainee” means any individual— (i) who is temporarily present in the United States under subparagraph (J) or (Q) of section 101(15) of the Immigration and Nationality Act (other than as a student), and (ii) who substantially complies with the requirements for being so present. (D) Student

“terminal rental adjustment clause” applies in that section

the term “terminal rental adjustment clause” means a provision of an agreement which permits or requires the rental price to be adjusted upward or downward by reference to the amount realized by the lessor under the agreement upon sale or other disposition of such property. (B) Special rule for lessee dealers The term “terminal rental adjustment clause” also includes a provision of an agreement which requires a lessee who is a dealer in motor vehicles to purchase the motor vehicle for a predetermined price and then resell such vehicle where such provision achieves substantially the same results as a provision described in subparagraph (A).

“TIN” applies throughout this title

The term “TIN” means the identifying number assigned to a person under section 6109. (42) Substituted basis property

“trade or business” applies throughout this title

The term “trade or business” includes the performance of the functions of a public office. (27) Tax Court

“transaction” applies in that section

The term “transaction” includes a series of transactions. (p) Cross references (1) Other definitions For other definitions, see the following sections of Title 1 of the United States Code: (1) Singular as including plural, section 1. (2) Plural as including singular, section 1. (3) Masculine as including feminine, section 1. (4) Officer, section 1. (5) Oath as including affirmation, section 1. (6) County as including parish, section 2. (7) Vessel as including all means of water transportation, section 3. (8) Vehicle as including all means of land transportation, section 4. (9) Company or association as including successors and assigns, section 5.

“transferred basis property” applies throughout this title

The term “transferred basis property” means property having a basis determined under any provision of subtitle A (or under any corresponding provision of prior income tax law) providing that the basis shall be determined in whole or in part by reference to the basis in the hands of the donor, grantor, or other transferor. (44) Exchanged basis property

“United States person” applies throughout this title

The term “United States person” means— (A) a citizen or resident of the United States, (B) a domestic partnership, (C) a domestic corporation, (D) any estate (other than a foreign estate, within the meaning of paragraph (31)), and (E) any trust if— (i) a court within the United States is able to exercise primary supervision over the administration of the trust, and (ii) one or more United States persons have the authority to control all substantial decisions of the trust. (31) Foreign estate or trust (A) Foreign estate

“water treatment works facility” applies throughout this title

the term “water treatment works facility” means any treatment works within the meaning of section 212(2) of the Federal Water Pollution Control Act. (F) Storage facility For purposes of subparagraph (A),

“withholding agent” applies throughout this title

The term “withholding agent” means any person required to deduct and withhold any tax under the provisions of section 1441, 1442, 1443, or 1461. (17) Husband and wife As used in section 2516, if the husband and wife therein referred to are divorced, wherever appropriate to the meaning of such section, the term “wife” shall be read “former wife” and the term “husband” shall be read “former husband”; and, if the payments described in such section are made by or on behalf of the wife or former wife to the husband or former husband instead of vice versa, wherever appropriate to the meaning of such section, the term “husband” shall be read “wife” and the term “wife” shall be read “husband.” (18) …

“adjustment year” applies in that section

The term “adjustment year” means the calendar year following any calendar year that includes the effective date of a change in the prescribed U.S. valuation interest rate for life insurance with guaranteed durations of more than 20 years (as defined in the National Association of Insurance Commissioners’ Standard Valuation Law). (E) Transition rule Notwithstanding subparagraph (A), the insurance interest rate shall be 2 percent in the case of any contract which is issued during the period that— (i) begins on January 1, 2021 , and (ii) ends immediately before the beginning of the first adjustment year that beings 1 after December 31, 2021 .

“applicable accumulation test minimum rate” applies throughout this title

the term “applicable accumulation test minimum rate” means the lesser of— (A) an annual effective rate of 4 percent, or (B) the insurance interest rate (as defined in subsection (f)(11)) in effect at the time the contract is issued. (c) Guideline premium requirements For purposes of this section— (1) In general A contract meets the guideline premium requirements of this subsection if the sum of the premiums paid under such contract does not at any time exceed the guideline premium limitation as of such time. (2) Guideline premium limitation

“applicable guideline premium minimum rate” applies in that section

the term “applicable guideline premium minimum rate” means the applicable accumulation test minimum rate (as defined in subsection (b)(3)) plus 2 percentage points. (4) Guideline level premium

“church” applies in that section

The term “church” means a church or a convention or association of churches. (B) Employee

“death benefit” applies in that section

The term “death benefit” means the amount payable by reason of the death of the insured (determined without regard to any qualified additional benefits). (4) Future benefits

“employee” applies in that section

The term “employee” includes an employee described in section 414(e)(3)(B). (k) Regulations The Secretary shall prescribe such regulations as may be necessary or appropriate to carry out the purposes of this section.

“endowment contract” applies throughout this title

the term “endowment contract” means a contract which is an endowment contract under the applicable law and which meets the requirements of subsection (a). (i) Transitional rule for certain 20-pay contracts (1) In general In the case of a qualified 20-pay contract, this section shall be applied by substituting “3 percent” for “4 percent” in subsection (b)(2). (2) Qualified 20-pay contract For purposes of paragraph (1),

“existing plan of insurance” applies in that section

the term “existing plan of insurance” means, with respect to any contract, any plan of insurance which was filed by the company issuing such contract in 1 or more States before September 28, 1983 , and is on file in the appropriate State for such contract. (j) Certain church self-funded death benefit plans treated as life insurance (1) In general In determining whether any plan or arrangement described in paragraph (2) is a life insurance contract, the requirement of subsection (a) that the contract be a life insurance contract under applicable law shall not apply.

“future benefits” applies in that section

The term “future benefits” means death benefits and endowment benefits. (5) Qualified additional benefits (A) In general

“guideline level premium” applies in that section

The term “guideline level premium” means the level annual amount, payable over a period not ending before the insured attains age 95, computed on the same basis as the guideline single premium, except that paragraph (3)(B)(iii) shall be applied by substituting “the applicable accumulation test minimum rate” for “the applicable guideline premium minimum rate”. (d) Cash value corridor for purposes of subsection (a)(2)(B) For purposes of this section— (1) In general A contract falls within the cash value corridor of this subsection if the death benefit under the contract at any time is not less than the applicable percentage of the cash surrender value.

“guideline premium limitation” applies in that section

The term “guideline premium limitation” means, as of any date, the greater of— (A) the guideline single premium, or (B) the sum of the guideline level premiums to such date. (3) Guideline single premium (A) In general

“guideline single premium” applies in that section

The term “guideline single premium” means the premium at issue with respect to future benefits under the contract. (B) Basis on which determination is made The determination under subparagraph (A) shall be based on— (i) reasonable mortality charges which meet the requirements prescribed in regulations to be promulgated by the Secretary or that do not exceed the mortality charges specified in the prevailing commissioners’ standard tables as defined in subsection (f)(10), (ii) any reasonable charges (other than mortality charges) which (on the basis of the company’s experience, if any, with respect to similar contracts) are reasonably expected to be actually paid, and (iii) interest at the …

“income on the contract” applies in that section

the term “income on the contract” means, with respect to any taxable year of the policyholder, the excess of— (i) the sum of— (I) the increase in the net surrender value of the contract during the taxable year, and (II) the cost of life insurance protection provided under the contract during the taxable year, over (ii) the premiums paid (as defined in subsection (f)(1)) under the contract during the taxable year.

“insurance interest rate” applies in that section

The term “insurance interest rate” means, with respect to any contract issued in any calendar year, the lesser of— (i) the section 7702 valuation interest rate for such calendar year (or, if such calendar year is not an adjustment year, the most recent adjustment year), or (ii) the section 7702 applicable Federal interest rate for such calendar year (or, if such calendar year is not an adjustment year, the most recent adjustment year). (B) Section 7702 valuation interest rate

“life insurance contract” applies throughout this title

the term “life insurance contract” means any contract which is a life insurance contract under the applicable law, but only if such contract— (1) meets the cash value accumulation test of subsection (b), or (2) (A) meets the guideline premium requirements of subsection (c), and (B) falls within the cash value corridor of subsection (d). (b) Cash value accumulation test for subsection (a)(1) (1) In general A contract meets the cash value accumulation test of this subsection if, by the terms of the contract, the cash surrender value of such contract may not at any time exceed the net single premium which would have to be paid at such time to fund future benefits under the contract.

“premiums paid” applies in that section

The term “premiums paid” means the premiums paid under the contract less amounts (other than amounts includible in gross income) to which section 72(e) applies and less any excess premiums with respect to which there is a distribution described in subparagraph (B) or (E) of paragraph (7) and any other amounts received with respect to the contract which are specified in regulations.

“prevailing commissioners’ standard tables” applies in that section

the term “prevailing commissioners’ standard tables” means the most recent commissioners’ standard tables prescribed by the National Association of Insurance Commissioners which are permitted to be used in computing reserves for that type of contract under the insurance laws of at least 26 States when the contract was issued.

“qualified 20-pay contract” applies throughout this title

the term “qualified 20-pay contract” means any contract which— (A) requires at least 20 nondecreasing annual premium payments, and (B) is issued pursuant to an existing plan of insurance. (3) Existing plan of insurance For purposes of this subsection,

“qualified additional benefits” applies in that section

The term “qualified additional benefits” means any— (i) guaranteed insurability, (ii) accidental death or disability benefit, (iii) family term coverage, (iv) disability waiver benefit, or (v) other benefit prescribed under regulations. (B) Treatment of qualified additional benefits For purposes of this section, qualified additional benefits shall not be treated as future benefits under the contract, but the charges for such benefits shall be treated as future benefits.

“section 7702 applicable Federal interest rate” applies in that section

The term “section 7702 applicable Federal interest rate” means, with respect to any adjustment year, the average (rounded to the nearest whole percentage point) of the applicable Federal mid-term rates (as defined in section 1274(d) but based on annual compounding) effective as of the beginning of each of the calendar months in the most recent 60-month period ending before the second calendar year prior to such adjustment year. (D) Adjustment year

“section 7702 valuation interest rate” applies in that section

The term “section 7702 valuation interest rate” means, with respect to any adjustment year, the prescribed U.S. valuation interest rate for life insurance with guaranteed durations of more than 20 years (as defined in the National Association of Insurance Commissioners’ Standard Valuation Law) as effective in the calendar year immediately preceding such adjustment year. (C) Section 7702 applicable Federal interest rate

“amount paid” applies in that section

The term “amount paid” means— (i) the premiums paid under the contract, reduced by (ii) amounts to which section 72(e) applies (determined without regard to paragraph (4)(A) thereof) but not including amounts includible in gross income. (B) Treatment of certain premiums returned If, in order to comply with the requirements of subsection (b), any portion of any premium paid during any contract year is returned by the insurance company (with interest) within 60 days after the end of such contract year, the amount so returned (excluding interest) shall be deemed to reduce the sum of the premiums paid under the contract during such contract year.

“contract year” applies in that section

The term “contract year” means the 12-month period beginning with the 1st month for which the contract is in effect, and each 12-month period beginning with the corresponding month in subsequent calendar years. (3) Other terms Except as otherwise provided in this section, terms used in this section shall have the same meaning as when used in section 7702.

“material change” applies in that section

the term “material change” includes any increase in the death benefit under the contract or any increase in, or addition of, a qualified additional benefit under the contract. Such term shall not include— (i) any increase which is attributable to the payment of premiums necessary to fund the lowest level of the death benefit and qualified additional benefits payable in the 1st 7 contract years (determined after taking into account death benefit increases described in subparagraph (A) or (B) of section 7702(e)(2)) or to crediting of interest or other earnings (including policyholder dividends) in respect of such premiums, and (ii) to the extent provided in regulations, any cost-of-living …

“modified endowment contract” applies in that section

the term “modified endowment contract” means any contract meeting the requirements of section 7702— (1) which— (A) is entered into on or after June 21, 1988 , and (B) fails to meet the 7-pay test of subsection (b), or (2) which is received in exchange for a contract described in paragraph (1) or this paragraph.

“chronically ill individual” applies in that section

The term “chronically ill individual” means any individual who has been certified by a licensed health care practitioner as— (i) being unable to perform (without substantial assistance from another individual) at least 2 activities of daily living for a period of at least 90 days due to a loss of functional capacity, (ii) having a level of disability similar (as determined under regulations prescribed by the Secretary in consultation with the Secretary of Health and Human Services) to the level of disability described in clause (i), or (iii) requiring substantial supervision to protect such individual from threats to health and safety due to severe cognitive impairment.

“licensed health care practitioner” applies in that section

The term “licensed health care practitioner” means any physician (as defined in section 1861(r)(1) of the Social Security Act) and any registered professional nurse, licensed social worker, or other individual who meets such requirements as may be prescribed by the Secretary.

“maintenance or personal care services” applies in that section

The term “maintenance or personal care services” means any care the primary purpose of which is the provision of needed assistance with any of the disabilities as a result of which the individual is a chronically ill individual (including the protection from threats to health and safety due to severe cognitive impairment). (4) Licensed health care practitioner

“model Act” applies in that section

The terms “model regulation” and “model Act” mean the long-term care insurance model regulation, and the long-term care insurance model Act, respectively, promulgated by the National Association of Insurance Commissioners (as adopted as of January 1993). (ii) Coordination Any provision of the model regulation or model Act listed under clause (i) or (ii) of subparagraph (A) shall be treated as including any other provision of such regulation or Act necessary to implement the provision. (iii) Determination For purposes of this section and section 4980C, the determination of whether any requirement of a model regulation or the model Act has been met shall be made by the Secretary.

“model regulation” applies in that section

The terms “model regulation” and “model Act” mean the long-term care insurance model regulation, and the long-term care insurance model Act, respectively, promulgated by the National Association of Insurance Commissioners (as adopted as of January 1993). (ii) Coordination Any provision of the model regulation or model Act listed under clause (i) or (ii) of subparagraph (A) shall be treated as including any other provision of such regulation or Act necessary to implement the provision. (iii) Determination For purposes of this section and section 4980C, the determination of whether any requirement of a model regulation or the model Act has been met shall be made by the Secretary.

“periodic payment” applies in that section

the term “periodic payment” means any payment (whether on a periodic basis or otherwise) made without regard to the extent of the costs incurred by the payee for qualified long-term care services. (e) Treatment of coverage provided as part of a life insurance or annuity contract Except as otherwise provided in regulations prescribed by the Secretary, in the case of any long-term care insurance coverage (whether or not qualified) provided by a rider on or as part of a life insurance contract or an annuity contract— (1) In general This title shall apply as if the portion of the contract providing such coverage is a separate contract.

“portion” applies in that section

the term “portion” means only the terms and benefits under a life insurance contract or annuity contract that are in addition to the terms and benefits under the contract without regard to long-term care insurance coverage. (4) Annuity contracts to which paragraph (1) does not apply For purposes of this subsection, none of the following shall be treated as an annuity contract: (A) A trust described in section 401(a) which is exempt from tax under section 501(a).

“qualified long-term care insurance contract” applies throughout this title

The term “qualified long-term care insurance contract” means any insurance contract if— (A) the only insurance protection provided under such contract is coverage of qualified long-term care services, (B) such contract does not pay or reimburse expenses incurred for services or items to the extent that such expenses are reimbursable under title XVIII of the Social Security Act or would be so reimbursable but for the application of a deductible or coinsurance amount, (C) such contract is guaranteed renewable, (D) such contract does not provide for a cash surrender value or other money that can be— (i) paid, assigned, or pledged as collateral for a loan, or (ii) borrowed, other than as …

“qualified long-term care services” applies in that section

The term “qualified long-term care services” means necessary diagnostic, preventive, therapeutic, curing, treating, mitigating, and rehabilitative services, and maintenance or personal care services, which— (A) are required by a chronically ill individual, and (B) are provided pursuant to a plan of care prescribed by a licensed health care practitioner. (2) Chronically ill individual (A) In general

“State long-term care plan” applies throughout this title

the term “State long-term care plan” means any plan— (A) which is established and maintained by a State or an instrumentality of a State, (B) which provides coverage only for qualified long-term care services, and (C) under which such coverage is provided only to— (i) employees and former employees of a State (or any political subdivision or instrumentality of a State), (ii) the spouses of such employees, and (iii) individuals bearing a relationship to such employees or spouses which is described in any of subparagraphs (A) through (G) of section 152(d)(2).

“electing 1987 partnership” applies in that section

the term “electing 1987 partnership” means any publicly traded partnership if— (A) such partnership is an existing partnership (as defined in section 10211(c)(2) of the Revenue Reconciliation Act of 1987), (B) subsection (a) has not applied (and without regard to subsection (c)(1) would not have applied) to such partnership for all prior taxable years beginning after December 31, 1987 , and before January 1, 1998 , and (C) such partnership elects the application of this subsection, and consents to the application of the tax imposed by paragraph (3), for its first taxable year beginning after December 31, 1997 .

“mineral or natural resource” applies in that section

the term “mineral or natural resource” means any product of a character with respect to which a deduction for depletion is allowable under section 611; except that such term shall not include any product described in subparagraph (A) or (B) of section 613(b)(7). (2) Certain interest not qualified Interest shall not be treated as qualifying income if— (A) such interest is derived in the conduct of a financial or insurance business, or (B) such interest would be excluded from the term “interest” under section 856(f). (3) Real property rent

“publicly traded partnership” applies in that section

the term “publicly traded partnership” means any partnership if— (1) interests in such partnership are traded on an established securities market, or (2) interests in such partnership are readily tradable on a secondary market (or the substantial equivalent thereof). (c) Exception for partnerships with passive-type income (1) In general Subsection (a) shall not apply to any publicly traded partnership for any taxable year if such partnership met the gross income requirements of paragraph (2) for such taxable year and each preceding taxable year beginning after December 31, 1987 , during which the partnership (or any predecessor) was in existence.

“qualifying income” applies in that section

the term “qualifying income” means— (A) interest, (B) dividends, (C) real property rents, (D) gain from the sale or other disposition of real property (including property described in section 1221(a)(1)), (E) income and gains derived from— (i) the exploration, development, mining or production, processing, refining, transportation (including pipelines transporting gas, oil, or products thereof), or the marketing of any mineral or natural resource (including fertilizer, geothermal energy, and timber), or industrial source carbon dioxide, (ii) the transportation or storage of— (I) any fuel described in subsection (b), (c), (d), (e), or (k) of section 6426, or any alcohol fuel defined in …

“real property rent” applies in that section

The term “real property rent” means amounts which would qualify as rent from real property under section 856(d) if— (A) such section were applied without regard to paragraph (2)(C) thereof (relating to independent contractor requirements), and (B) stock owned, directly or indirectly, by or for a partner would not be considered as owned under section 318(a)(3)(A) by the partnership unless 5 percent or more (by value) of the interests in such partnership are owned, directly or indirectly, by or for such partner.

“certified professional employer organization” applies throughout this title

the term “certified professional employer organization” means a person who applies to be treated as a certified professional employer organization for purposes of section 3511 and has been certified by the Secretary as meeting the requirements of subsection (b).

“work site employee” applies throughout this title

The term “work site employee” means, with respect to a certified professional employer organization, an individual who— (A) performs services for a customer pursuant to a contract which is between such customer and the certified professional employer organization and which meets the requirements of paragraph (2), and (B) performs services at a work site meeting the requirements of paragraph (3).

“information technology” applies in that section

the term “information technology” has the meaning given such term by section 11101 of title 40 , United States Code. (B) Internal Revenue Service Any reference in this subsection to the Internal Revenue Service includes a reference to all components of the Internal Revenue Service, including— (i) the Office of the Taxpayer Advocate, (ii) the Criminal Investigation Division of the Internal Revenue Service, and (iii) except as otherwise provided by the Secretary with respect to information technology related to matters described in subsection (b)(3)(B), the Office of the Chief Counsel.

“specified taxpayer” applies in that section

The term “specified taxpayer” means— (I) in the case of any taxpayer who is a natural person, a taxpayer whose adjusted gross income does not exceed $400,000 for the taxable year to which the dispute relates, and (II) in the case of any other taxpayer, a taxpayer whose gross receipts do not exceed $5 million for the taxable year to which the dispute relates. (ii) Aggregation rule Rules similar to the rules of section 448(c)(2) shall apply for purposes of clause (i)(II).

“National Taxpayer Advocate” applies in that section

the term “National Taxpayer Advocate” includes any designee of the National Taxpayer Advocate. (g) Application to persons performing services under a qualified tax collection contract Any order issued or action taken by the National Taxpayer Advocate pursuant to this section shall apply to persons performing services under a qualified tax collection contract (as defined in section 6306(b)) to the same extent and in the same manner as such order or action applies to the Secretary.

“Indian tribe” applies in that section

The term “Indian tribe” means any Indian tribe, band, nation, or other organized group or community which is recognized as eligible for the special programs and services provided by the United States to Indians because of their status as Indians. (iii) Net proceeds

“net proceeds” applies in that section

The term “net proceeds” has the meaning given such term by section 150(a)(3). (d) Treatment of subdivisions of Indian tribal governments as political subdivisions For the purposes specified in subsection (a), a subdivision of an Indian tribal government shall be treated as a political subdivision of a State if (and only if) the Secretary determines (after consultation with the Secretary of the Interior) that such subdivision has been delegated the right to exercise one or more of the substantial governmental functions of the Indian tribal government.

“qualified Indian lands” applies in that section

The term “qualified Indian lands” means land which is held in trust by the United States for the benefit of an Indian tribe. (ii) Indian tribe

“testing period” applies throughout this title

the term “testing period” means, with respect to an issue, each calendar year which begins more than 2 years after the date of issuance of the issue (or, in the case of a refunding obligation, the date of issuance of the original issue). (E) Definitions For purposes of this paragraph— (i) Qualified Indian lands

“tribal economic development bond” applies in that section

the term “tribal economic development bond” means any bond issued by an Indian tribal government— (i) the interest on which would be exempt from tax under section 103 if issued by a State or local government, and (ii) which is designated by the Indian tribal government as a tribal economic development bond for purposes of this subsection.

“amount loaned” applies in that section

The term “amount loaned” means the amount received by the borrower. (5) Demand loan

“below-market loan” applies in that section

The term “below-market loan” means any loan if— (A) in the case of a demand loan, interest is payable on the loan at a rate less than the applicable Federal rate, or (B) in the case of a term loan, the amount loaned exceeds the present value of all payments due under the loan. (2) Forgone interest

“continuing care contract” applies in that section

the term “continuing care contract” means a written contract between an individual and a qualified continuing care facility under which— (A) the individual or individual’s spouse may use a qualified continuing care facility for their life or lives, (B) the individual or individual’s spouse— (i) will first— (I) reside in a separate, independent living unit with additional facilities outside such unit for the providing of meals and other personal care, and (II) not require long-term nursing care, and (ii) then will be provided long-term and skilled nursing care as the health of such individual or individual’s spouse requires, and (C) no additional substantial payment is required if such …

“deferred payment obligation” applies in that section

The term “deferred payment obligation” includes any market discount bond, short-term obligation, United States savings bond, annuity, or similar obligation. (2) Special rule for gift tax In the case of any gift loan which is a term loan, subsection (b)(1) (and not subsection (a)) shall apply for purposes of chapter 12. (e) Definitions of below-market loan and forgone interest For purposes of this section— (1) Below-market loan

“demand loan” applies in that section

The term “demand loan” means any loan which is payable in full at any time on the demand of the lender. Such term also includes (for purposes other than determining the applicable Federal rate under paragraph (2)) any loan if the benefits of the interest arrangements of such loan are not transferable and are conditioned on the future performance of substantial services by an individual. To the extent provided in regulations, such term also includes any loan with an indefinite maturity. (6) Term loan

“forgone interest” applies in that section

The term “forgone interest” means, with respect to any period during which the loan is outstanding, the excess of— (A) the amount of interest which would have been payable on the loan for the period if interest accrued on the loan at the applicable Federal rate and were payable annually on the day referred to in subsection (a)(2), over (B) any interest payable on the loan properly allocable to such period.

“gift loan” applies in that section

The term “gift loan” means any below-market loan where the forgoing of interest is in the nature of a gift. (4) Amount loaned

“net investment income” applies in that section

The term “net investment income” has the meaning given such term by section 163(d)(4). (ii) De minimis rule If the net investment income of any borrower for any year does not exceed $1,000, the net investment income of such borrower for such year shall be treated as zero. (iii) Additional amounts treated as interest In determining the net investment income of a person for any year, any amount which would be included in the gross income of such person for such year by reason of section 1272 if such section applied to all deferred payment obligations shall be treated as interest received by such person for such year. (iv) Deferred payment obligations

“qualified continuing care facility” applies in that section

the term “qualified continuing care facility” means 1 or more facilities— (i) which are designed to provide services under continuing care contracts, and (ii) substantially all of the residents of which are covered by continuing care contracts. (B) Substantially all facilities must be owned or operated by borrower A facility shall not be treated as a qualified continuing care facility unless substantially all facilities which are used to provide services which are required to be provided under a continuing care contract are owned or operated by the borrower.

“term loan” applies in that section

The term “term loan” means any loan which is not a demand loan. (7) Husband and wife treated as 1 person A husband and wife shall be treated as 1 person. (8) Loans to which section 483, 643(i), or 1274 applies This section shall not apply to any loan to which section 483, 643(i), or 1274 applies. (9) No withholding No amount shall be withheld under chapter 24 with respect to— (A) any amount treated as transferred or retransferred under subsection (a), and (B) any amount treated as received under subsection (b).

“fishing rights-related activity” applies in that section

The term “fishing rights-related activity” means, with respect to an Indian tribe, any activity directly related to harvesting, processing, or transporting fish harvested in the exercise of a recognized fishing right of such tribe or to selling such fish but only if substantially all of such harvesting was performed by members of such tribe. (2) Recognized fishing rights

“qualified Indian entity” applies in that section

The term “qualified Indian entity” means, with respect to an Indian tribe, any entity if— (i) such entity is engaged in a fishing rights-related activity of such tribe, (ii) all of the equity interests in the entity are owned by qualified Indian tribes, members of such tribes, or their spouses, (iii) except as provided in regulations, in the case of an entity which engages to any extent in any substantial processing or transporting of fish, 90 percent or more of the annual gross receipts of the entity is derived from fishing rights-related activities of one or more qualified Indian tribes each of which owns at least 10 percent of the equity interests in the entity, and (iv) substantially …

“recognized fishing rights” applies in that section

The term “recognized fishing rights” means, with respect to an Indian tribe, fishing rights secured as of March 17, 1988 , by a treaty between such tribe and the United States or by an Executive order or an Act of Congress. (3) Qualified Indian entity (A) In general

“applicable period” applies in that section

The term “applicable period” means the period— (A) beginning on the first date properties are acquired as part of the acquisition described in subsection (a)(2)(B)(i), and (B) ending on the date which is 10 years after the last date properties are acquired as part of such acquisition. (2) Inversion gain

“expanded affiliated group” applies throughout this title

The term “expanded affiliated group” means an affiliated group as defined in section 1504(a) but without regard to section 1504(b)(3), except that section 1504(a) shall be applied by substituting “more than 50 percent” for “at least 80 percent” each place it appears. (2) Certain stock disregarded There shall not be taken into account in determining ownership under subsection (a)(2)(B)(ii)— (A) stock held by members of the expanded affiliated group which includes the foreign corporation, or (B) stock of such foreign corporation which is sold in a public offering related to the acquisition described in subsection (a)(2)(B)(i).

“expatriated entity” applies in that section

The term “expatriated entity” means— (i) the domestic corporation or partnership referred to in subparagraph (B)(i) with respect to which a foreign corporation is a surrogate foreign corporation, and (ii) any United States person who is related (within the meaning of section 267(b) or 707(b)(1)) to a domestic corporation or partnership described in clause (i).

“foreign related person” applies in that section

The term “foreign related person” means, with respect to any expatriated entity, a foreign person which— (A) is related (within the meaning of section 267(b) or 707(b)(1)) to such entity, or (B) is under the same common control (within the meaning of section 482) as such entity.

“inversion gain” applies in that section

The term “inversion gain” means the income or gain recognized by reason of the transfer during the applicable period of stock or other properties by an expatriated entity, and any income received or accrued during the applicable period by reason of a license of any property by an expatriated entity— (A) as part of the acquisition described in subsection (a)(2)(B)(i), or (B) after such acquisition if the transfer or license is to a foreign related person. Subparagraph (B) shall not apply to property described in section 1221(a)(1) in the hands of the expatriated entity. (3) Foreign related person

“pre-inversion year” applies in that section

the term “pre-inversion year” means any taxable year if— (i) any portion of the applicable period is included in such taxable year, and (ii) such year ends before the taxable year in which the acquisition described in subsection (a)(2)(B)(i) is completed. (f) Special rule for treaties Nothing in section 894 or 7852(d) or in any other provision of law shall be construed as permitting an exemption, by reason of any treaty obligation of the United States heretofore or hereafter entered into, from the provisions of this section.

“authorized committee” applies throughout its chapter

The term “authorized committee” means, with respect to the candidates of a political party for President and Vice President of the United States, any political committee which is authorized in writing by such candidates to incur expenses to further the election of such candidates. Such authorization shall be addressed to the chairman of such political committee, and a copy of such authorization shall be filed by such candidates with the Commission. Any withdrawal of any authorization shall also be in writing and shall be addressed and filed in the same manner as the authorization.;

“candidate” applies throughout its chapter

The term “candidate” means, with respect to any presidential election, an individual who (A) has been nominated for election to the office of President of the United States or the office of Vice President of the United States by a major party, or (B) has qualified to have his name on the election ballot (or to have the names of electors pledged to him on the election ballot) as the candidate of a political party for election to either such office in 10 or more States. For purposes of paragraphs (6) and (7) of this section and purposes of section 9004(a)(2),

“Commission” applies throughout its chapter

The term “Commission” means the Federal Election Commission established by section 306(a)(1) of the Federal Election Campaign Act of 1971.;

“eligible candidates” applies throughout its chapter

The term “eligible candidates” means the candidates of a political party for President and Vice President of the United States who have met all applicable conditions for eligibility to receive payments under this chapter set forth in section 9003.;

“fund” applies throughout its chapter

The term “fund” means the Presidential Election Campaign Fund established by section 9006(a).;

“major party” applies throughout its chapter

The term “major party” means, with respect to any presidential election, a political party whose candidate for the office of President in the preceding presidential election received, as the candidate of such party, 25 percent or more of the total number of popular votes received by all candidates for such office.;

“minor party” applies throughout its chapter

The term “minor party” means, with respect to any presidential election, a political party whose candidate for the office of President in the preceding presidential election received, as the candidate of such party, 5 percent or more but less than 25 percent of the total number of popular votes received by all candidates for such office.;

“new party” applies throughout its chapter

The term “new party” means, with respect to any presidential election, a political party which is neither a major party nor a minor party.;

“political committee” applies throughout its chapter

The term “political committee” means any committee, association, or organization (whether or not incorporated) which accepts contributions or makes expenditures for the purpose of influencing, or attempting to influence, the nomination or election of one or more individuals to Federal, State, or local elective public office.;

“presidential election” applies throughout its chapter

The term “presidential election” means the election of presidential and vice-presidential electors.;

“qualified campaign expense” applies throughout its chapter

The term “qualified campaign expense” means an expense— (A) incurred (i) by the candidate of a political party for the office of President to further his election to such office or to further the election of the candidate of such political party for the office of Vice President, or both (ii) by the candidate of a political party for the office of Vice President to further his election to such office or to further the election of the candidate of such political party for the office of President, or both, or (iii) by an authorized committee of the candidates of a political party for the offices of President and Vice President to further the election of either or both of such candidates to …

“immediate family” applies in that section

the term “immediate family” means a candidate’s spouse, and any child, parent, grandparent, brother, half-brother, sister, or half-sister of the candidate, and the spouses of such persons.

“rule or regulation” applies in that section

the term “rule or regulation” means a provision or series of interrelated provisions stating a single separable rule of law.

“authorized committee” applies throughout its chapter

The term “authorized committee” means, with respect to the candidates of a political party for President and Vice President of the United States, any political committee which is authorized in writing by such candidates to incur expenses to further the election of such candidates. Such authorization shall be addressed to the chairman of such political committee, and a copy of such authorization shall be filed by such candidates with the Commission. Any withdrawal of any authorization shall also be in writing and shall be addressed and filed in the same manner as the authorization.;

“candidate” applies throughout its chapter

The term “candidate” means an individual who seeks nomination for election to be President of the United States. For purposes of this paragraph, an individual shall be considered to seek nomination for election if he (A) takes the action necessary under the law of a State to qualify himself for nomination for election, (B) receives contributions or incurs qualified campaign expenses, or (C) gives his consent for any other person to receive contributions or to incur qualified campaign expenses on his behalf.

“Commission” applies in that section

The term “Commission” means the Federal Election Commission established by section 306(a)(1) of the Federal Election Campaign Act of 1971. (4) Except as provided by section 9034(a),

“contribution” applies in that section

the term “contribution”— (A) means a gift, subscription, loan, advance, or deposit of money, or anything of value, the payment of which was made on or after the beginning of the calendar year immediately preceding the calendar year of the presidential election with respect to which such gift, subscription, loan, advance, or deposit of money, or anything of value, is made, for the purpose of influencing the result of a primary election, (B) means a contract, promise, or agreement, whether or not legally enforceable, to make a contribution for any such purpose, (C) means funds received by a political committee which are transferred to that committee from another committee, and (D) means the …

“matching payment account” applies in that section

The term “matching payment account” means the Presidential Primary Matching Payment Account established under section 9037(a).;