
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC4953]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                 Subtitle D--Miscellaneous Excise Taxes
 
     CHAPTER 42--PRIVATE FOUNDATIONS; AND CERTAIN OTHER TAX-EXEMPT 
                              ORGANIZATIONS
 
                 Subchapter B--Black Lung Benefit Trusts
 
Sec. 4953. Tax on excess contributions to black lung benefit 
        trusts
        

(a) Tax imposed

    There is hereby imposed for each taxable year a tax in an amount 
equal to 5 percent of the amount of the excess contributions made by a 
person to or under a trust or trusts described in section 501(c)(21). 
The tax imposed by this subsection shall be paid by the person making 
the excess contribution.

(b) Excess contribution

    For purposes of this section, the term ``excess contribution'' means 
the sum of--
        (1) the amount by which the amount contributed for the taxable 
    year to a trust or trusts described in section 501(c)(21) exceeds 
    the amount of the deduction allowable to such person for such 
    contributions for the taxable year under section 192, and
        (2) the amount determined under this subsection for the 
    preceding taxable year, reduced by the sum of--
            (A) the excess of the maximum amount allowable as a 
        deduction under section 192 for the taxable year over the amount 
        contributed to the trust or trusts for the taxable year, and
            (B) amounts distributed from the trust to the contributor 
        which were excess contributions for the preceding taxable year.

(c) Treatment of withdrawal of excess contributions

    Amounts distributed during the taxable year from a trust described 
in section 501(c)(21) to the contributor thereof the sum of which does 
not exceed the amount of the excess contribution made by the contributor 
shall not be treated as--
        (1) an act of self-dealing (within the meaning of section 4951),
        (2) a taxable expenditure (within the meaning of section 4952), 
    or
        (3) an act contrary to the purposes for which the trust is 
    exempt from taxation under section 501(a).

(Added Pub. L. 95-227, Sec. 4(c)(1), Feb. 10, 1978, 92 Stat. 22.)
