Section 501(q) of the Internal Revenue Code, relating to special rules for credit counseling organizations, shall apply, except as otherwise provided. (a) The phrase âSection 23701â shall be substituted for âsubsection (a)â in Section 501(q)(1) of the Internal Revenue Code. (b) The phrase âdescribed in Section 23701d or Section 23701fâ shall be substituted for âdescribed in paragraph (3) or (4) of subsection (c)â in Section 501(q)(1) of the Internal Revenue Code. (c) The phrase âdescribed in Section 23701d and exempt from tax under Section 23701â shall be substituted for âdescribed in subsection (c)(3) and exempt from tax under subsection (a)â in each place that it appears in Section 501(q)(1)(E) of the Internal Revenue Code. (d) The phrase âdescribed in Section 23701d shall not be exempt from tax under Section 23701â shall be substituted for âdescribed in paragraph (3) of subsection (c) shall not be exempt from tax under subsection (a)â in Section 501(q)(2)(A) of the Internal Revenue Code. (e) The phrase âdescribed in Section 23701d and exempt from tax under Section 23701 on January 1, 2009,â shall be substituted for âdescribed in paragraph (3) of subsection (c) and exempt from tax under subsection (a) on the date of the enactment of this subsectionâ in Section 501(q)(2)(B)(ii) of the Internal Revenue Code. (f) The phrase âJanuary 1, 2010,â shall be substituted for âthe date of the enactment of this subsectionâ in Section 501(q)(2)(B)(ii)(I) of the Internal Revenue Code. (g) The phrase âdescribed in Section 23701f shall not be exempt from tax under Section 23701â shall be substituted for âdescribed in paragraph (4) of subsection (c) shall not be exempt from tax under subsection (a)â in Section 501(q)(3) of the Internal Revenue Code.
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