Small Block

Capital Absorption Opportunity · Tax-exempt organizations (26 U.S.C. § 501) · 501(c) Organizations

501(c)(21) Organizations

Definition

Black lung benefit trusts: trusts set up in writing by a person (other than an insurance company) exclusively to satisfy its liability for disability or death claims due to pneumoconiosis under the Black Lung Acts, pay insurance premiums covering that liability, and pay the trust's administrative costs.[1] The Black Lung Benefits Revenue Act of 1977 added the paragraph.[1]

Federal law

  1. Black Lung Benefits Revenue Act of 1977, Pub. L. 95-227, § 4(a), 92 Stat. 15. Added section 501(c)(21) (§ 4(a)). Official text: govinfo.gov, U.S. Government Publishing Office.