A bill to clarify the exempt status of joint activities of education organizations under the Internal Revenue Code of 1954.

Provides, under the Internal Revenue Code, that if Cooperative Service Organizations of Operating Educational Organizations are organized and operated solely to hold, comingle, mingle, and collectively invest and reinvest in stocks and securities the moneys contributed by each of the members of such organization, and to collect income therefrom and turn over the entire amount, less expense, to such members; and are organized and controlled by one or more such members, then such organizations shall be treated as an organization organized and operated exclusively for charitable purposes.