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is effective for exchanges and rentals of member lists after
October 22, 1986. Respondent contends that the enactment of
section 513(h) implies that renting mailing lists is generally a
trade or business. As in Sierra Club, Inc. v. Commissioner, 103
T.C. 307 (1994), respondent asks us to infer from the enactment
of section 513(h) that Congress generally views gross income from
the licensing of mailing lists as UBTI, unless excepted by
section 513(h). We do not draw that inference.
It is at best hazardous to infer the intent of an earlier
Congress from a later one. See Firestone Tire & Rubber Co. v.
Bruch, 489 U.S. 101, 114 (1989); United States v. Price, 361
U.S. 304, 313 (1960). The inference asserted by respondent
is rejected in the legislative history of section 513(h).
(...continued)
(1) In general.--In the case of an
organization which is described in section
501 and contributions to which are deductible
under paragraph (2) or (3) of section 170(c),
the term "unrelated trade or business" does
not include--
* * * * * * *
(B) any trade or business which consists of--
(i) exchanging with another such
organization, names and addresses of donors
to (or members of) such organization, or
(ii) renting such names and addresses to
another such organization.
Tax Reform Act of 1986, Pub. L. 99-514, sec. 1601(a), 100 Stat.
2085, 2766.
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