A bill to amend section 4941 of the Internal Revenue Code of 1954, and section 101 (1) (2) of the Tax Reform Act of 1969.

(Reported to House from the Committee on Ways and Means with amendment, H. Rept. 95-741)

Provides that for purposes of determining who is a substantial contributor to a foundation, for tax purposes, contributions made before October 9, 1969, which were made on account of or in lieu of payments required under a lease and made because of a reduction in rental payments required under the lease, are not to be treated as contributions to the foundation.