§4959. Taxes on failures by hospital organizations
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Latest NOW As originally enacted Mar 23, 201026 U.S.C. § 4959
If a hospital organization to which section 501(r) applies fails to meet the requirement of section 501(r)(3) for any taxable year, there is imposed on the organization a tax equal to $50,000.
Notes, amendments, and revision history
(Added Pub. L. 111–148, title IX, § 9007(b)(1), Mar. 23, 2010, 124 Stat. 857.)
Statutory Notes and Related Subsidiaries
Effective Date
Section applicable to failures occurring after Mar. 23, 2010, see section 9007(f)(3) of Pub. L. 111–148, set out as an Effective Date of 2010 Amendment note under section 501 of this title.