Strict Standards and Accountability Act

“506. Procedures relating to applications of 501(c)(4) organizations

“(a) Initial notice—The Secretary shall acknowledge in writing the receipt of an application to be treated as an organization described in section 501(c)(4) and exempt from tax under section 501(a) not later than 28 days after receipt of such application.

“(b) 6 months—In the case that the Secretary has not approved or denied such application after 6 months after the date of the acknowledgment specified in paragraph (1) the Secretary shall—

“(1)

“(A) inform the applicant in writing as to the status of its application,

“(B) enumerate reasons specific to the application for its delay, and

“(C) provide an approximate expectation of when a final decision may be made, and

“(2) consider such application under fast track procedures which the Secretary shall provide by regulation or other guidance.

“(c) 1-Year

“(1) In general—In the case that the Secretary has not approved or denied such application after 365 days after the date of the acknowledgment specified in paragraph (1), the Secretary shall—

“(A) inform the applicant in writing as to the status of its application, and

“(B) enumerate reasons specific to the application for its delay.

“(2) Notice to Congress—If the Secretary cannot make a decision before two months after 365 days from the date of the initial acknowledgment under subsection (a), the Secretary shall report during that time to the Chairpersons of the Committee on Ways and Means Committee and Senate Finance Committee on the extenuating circumstances of each such case that prevents timely determination thereof and provide the numerical amount of 501(c)(4) applications pending for over 365 days.”