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2 U.S.C. § 161 — Tax exemption of gifts, etc., to Library of Congress

Federal law — U.S. Code and appendices · legal_authorities

2 U.S.C. § 161 — Tax exemption of gifts, etc., to Library of Congress

Gifts or bequests or devises to or for the benefit of the Library of Congress, including those to the board, and the income therefrom, shall be exempt from all Federal taxes, including all taxes levied by the District of Columbia.

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Source location: Title 2, Chapter 5, § 161; chapter-005-library-of-congress.md

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 2055 — Transfers for public, charitable, and religious uses

**(a) In general** For purposes of the tax imposed by section 2001, the value of the taxable estate shall be determined by deducting from the value of the gross estate the amount of all bequests, legacies, devises, or transfers— (1) to or for the use of the United States, any State, any political subdivision thereof, or the District of Columbia, for exclusively public purposes; (2) to or for the use of any corporation organized and operated exclusively for religious, charitable, scientific, literary, or educational purposes, including the encouragement of art, or to foster national or international amateur sports competition (but only if no part of its activities involve the provision of athletic facilities or equipment), and the prevention of cruelty to children or animals, no part of the net earnings of which inures to the benefit of any private stockholder or individual, which is not disqualified for tax exemption under section 501(c)(3) by reason of attempting to influence legislation, and which does not participate in, or intervene in (including the publishing or distributing of statements), any political campaign on behalf of (or in opposition to) any candidate for public office; (3) to a trustee or trustees, or a fraternal society, order, or association operating under the lodge system, but only if such contributions or gifts are to be used by such trustee or trustees, or by such fraternal society, order, or association, exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals, such trust, fraternal society, order, or association would not be disqualified for tax exemption under section 501(c)(3) by reason of attempting to influence legislation, and such trustee or trustees, o

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Federal law — U.S. Code and appendices · legal_authorities

2 U.S.C. § 161 — Tax exemption of gifts, etc., to Library of

Page 77 TITLE 2—THE CONGRESS § 162b nual public report regarding gifts accepted under this section.’’ 1997—Pub. L. 105–55 added second par. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2022 AMENDMENT Pub. L. 117–103, div. I, title I, § 141(b), Mar. 15, 2022, 136 Stat. 519, provided that: ‘‘The amendments made by this section [amending this section] shall apply with respect to fiscal year 2022 and each succeeding fiscal year.’’ § 161. Tax exemption of gifts, etc., to Library of Congress Gifts or bequests or devises to or for the ben- efit of the Library of Congress, including those to the board, and the income therefrom, shall be exempt from all Federal taxes, including all taxes levied by the District of Columbia. (Mar. 3, 1925, ch. 423, § 5, 43 Stat. 1108; Oct. 2, 1942, ch. 576, 56 Stat. 765.) Editorial Notes AMENDMENTS 1942—Act Oct. 2, 1942, included devises in the exemp- tions, and exempted gifts, bequests and devises, and the income therefrom, from taxes levied by the District of Columbia. § 162. Compensation of Library of Congress em- ployees Employees of the Library of Congress who per- form special functions for the performance of which funds have been entrusted to the board or the librarian, or in connection with cooperative undertakings in which the Library of Congress is engaged, shall not be subject to section 209 of title 18; and section 5533 of title 5 shall not apply to any additional compensation so paid to such employees. (Mar. 3, 1925, ch. 423, § 6, 43 Stat. 1108; Jan. 27, 1926, ch. 6, § 2, 44 Stat. 2; Pub. L. 88–448, title IV, § 401(j), Aug. 19, 1964, 78 Stat. 491.) Editorial Notes CODIFICATION ‘‘Section 209 of title 18’’ substituted in text for ref- erence to the Act of March 3, 1917, 39 Stat. 1106 (5 U.S

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