85 STAT.]
PUBLIC LAW 92-178-DEC. 10, 1971
561
" (A) an individual who is a candidate for nomination or election to any Federal, State, or local elective public office in any primary, general, or special election, for use by such individual to further his candidacy for nomination or election to such office; " (B) any committee, association, or organization (whether or not incorporated) organized and operated exclusively for the purpose of influencing, or attempting to influence, the nomination or election of one or more individuals who are candidates for nomination or election to any Federal, State, or local elective public office, for use by such committee, association, or organization to further the candidacy of such individual or individuals for nomination or election to such office; " (C) the national committee of a national political party; " (D) the State committee of a national political party as designated by the national committee of such party; or " (E) a local committee of a national political party as designated by the State committee of such party designated under subparagraph (D), "(2) CANDIDATE.—The term 'candidate' means, with respect to any Federal, State, or local elective public office, an individual Avho— " (A) has publicly announced that he is a candidate for nomination or election to such office; and " (B) meets the qualifications prescribed by law to hold such office. "(3) NATIONAL POLITICAL PARTY.—The term 'national ix>litical party' means— " (A) in the case of contributions made during a taxable year of the taxpayer in which the electors of President and Vice President are chosen, a political party presenting candidates or electors for such offices on the official election ballot of ten or more States, or " (B) in the case of contributions made during any other taxable year of the taxpayer, a political party which met the qualifications described in subparagraph (A) in the last preceding election of a President and Vice President. "(4) STATE AND LOCAL.—The term 'State' means the various States and the District of Columbia; and the term 'local' means a political subdivision or part thereof, or two or more political subdivisions or parts thereof, of a State. "(d)
CROSS REFERENCES.—
"For disallowance of credits to estates and trusts, see section 642(a)(3)." (b) Section 642(a) (relating to credits against tax for estates and ^SA Stat. 215; trusts) is amended by adding at the end thereof the following new '^^2rusc 6*42. paragraph: " (3) POLITICAL CONTRIBUTIONS.—An estate or trust shall not be allowed the credit against tax for political contributions provided by section 41." ^"'^'?• seo. SEC. 702. DEDUCTION IN LIEU OF CREDIT. (a) Part VII of subchapter B of chapter 1 (relating to additional j^lti^^o ^^' itemized deductions for individuals) is amended by redesignating section 218 as 219, and by inserting after section 217 the following new section: "SEC. 218. CONTRIBUTIONS TO CANDIDATES FOR PUBLIC OFFICE. " (a) ALLOWANCE or DEDUCTION.—In the case of an individual, there shall be allowed as a deduction any political contribution (as defined
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