Iowa Code Title X. Financial Resources [Chs. 421-454] § 422.34. Exempted corporations and organizations

2. a. An organization described in section 501 of the Internal Revenue Code 1 unless the exemption is denied under section 501, 502, 503, or 504 of the Internal Revenue Code.

b. An organization that would have qualified as an organization exempt from federal income tax under section 501(c)(19) of the Internal Revenue Code but for the fact that the requirement that substantially all of the members who are not past or present members of the United States armed forces is not met because such members include ancestors or lineal descendants, shall be considered for purposes of the exemption from taxation under this subchapter as an organization exempt from federal income tax under section 501(c)(19) of the Internal Revenue Code.