Wayne Allard: “Specifically, I am referring to the amendments providing for the special rule for certain holdings of Type III…”

“Specifically, I am referring to the amendments providing for the special rule for certain holdings of Type III supporting organizations if the holdings are held for the benefit of the community pursuant to the direction of a State attorney general or a State official with jurisdiction over the Type III supporting organization. As some of us with interest in this provision worked to address unintended consequences, we thought it would be a good idea to have the AG or State official direction needed to ensure that the abuses that concerned the chairman would be addressed. As State officials issue this general directive, it is our intention that there is not any burdensome red tape and that once the direction is given for the Type III organization, the charity is not unnecessarily put in limbo by the need for a reissuance when the official changes. It is safe to say that we intend that once the necessary direction is given as part of this compromise, then there is no requirement for renewals by that attorney general or subsequent attorney general that would put uncertainty at play for the organization. Isn't that my friend's understanding?”