Code of Federal Regulations Title 26. Internal Revenue § 26.53.4941(f)–1 Effective dates

(b) Transitional rules—(1) Commitments made prior to January 1, 1970, between private foundations and government officials.Section 4941 shall not apply to a payment for one or more purposes described in section 170(c)(1) or (2)(B) made on or after January 1, 1970, by a private foundation to a government official, if such payment is made pursuant to a commitment entered into prior to such date, but only if such commitment was made in accordance with the foundation's usual practices and is reasonable in amount in light of the purposes of the payment. For purposes of this subparagraph, a commitment will be considered entered into prior to January 1, 1970, if prior to such date, the amount and nature of the payments to be made and the name of the payee were entered on the records of the payor, or were otherwise adequately evidenced, or the notice of the payment to be received was communicated to the payee in writing.

(2) Special transitional rule.In the case of an act of self-dealing engaged in prior to July 5, 1971, section 4941(a)(1) shall not apply if: