Sec. 5001. Clarification of unrelated business income tax treatment of entities treated as exempt from taxation under section 501(a)
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501(a) Subparagraph
(A)of section 511(a)(2) is amended by adding at the end the following: For purposes of the preceding sentence, an organization shall not fail to be treated as exempt from taxation under this subtitle by reason of section 501(a) solely because such organization is also so exempt, or excludes amounts from gross income, by reason of any other provision of this title. . The heading for subparagraph
(A)of section 511(a)(2) is amended to read as follows: Organizations exempt from taxation by reason of section 501(a). The amendments made by this section shall apply to taxable years beginning after December 31, 2014.