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107 STAT. 456 PUBLIC LAW 103-66—AUG. 10, 1993 which includes the information described in subparagraph (B) with respect to the contribution. "(E) REGULATIONS.—^The Secretary shall prescribe such regulations as may be necessary or appropriate to carry out the purposes of this paragraph, including relations that may provide that some or all of the requurements of this paragraph do not apply in appropriate cases." 26 use 170 note. (b) EFFECTIVE DATE.—The provisions of this section shall apply to contributions made on or after January 1,1994. SEC. 13173. DISCLOSURE RELATED TO QUID PRO QUO CONTRIBUTIONS. (a) DISCLOSURE REQUIREMENT.—Subchapter B of chapter 61 (relating to information and returns) is amended by redesignating section 6115 as section 6116 and by inserting after section 6114 the following new section: "SEC. 6115. DISCLOSURE RELATED TO QUID PRO QUO CONTRIBU- TIONS. "(a) DISCLOSURE REQUIREMENT.—If an organization described in section 170(c) (other than paragraph (1) thereof) receives a quid pro quo contribution in excess of $75, the organization shall, in connection with the solicitation or receipt of the contribution, pro- vide a written statement which— ''(1) informs the donor that the amount of the contribution that is deductible for Federal income tax purposes is limited to the excess of the amount of any monev and the value of any property other than money contributed by the donor over the value of the goods or services provided by the organization, and "(2) provides the donor with a good faith estimate of the value of such goods or services. "(b) QUID PRO QUO CONTRIBUTION.—For purposes of this sec- tion, the term 'quid pro quo contribution' means a pajrment made partly as a cpntribution and partly in consideration for goods or services provided to the payor by the donee organization. A quid pro quo contribution does not include any payment made to an organization, orgsinized exclusivelv for religious purposes, in return for which the taxpayer receives solely an intangible religious benefit that generally is not sold in a commercial transaction outside the donative context." (b) PENALTY FOR FAILURE TO DISCLOSE.—Part I of subchapter B of chapter 68 (relating to assessable penalties) is amendea by inserting after section 6713 the following new section: "SEC. 6714. FAILURE TO MEET DISCLOSURE REQUIREMENTS APPUCABLE TO QUID PRO QUO CONTRIBUTIONS. "(a) IMPOSITION OF PENALTY.—If an organization fails to meet the disclosure requirement of section 6115 with respect to a quid pro quo contribution, such organization shall pay a penalty of $10 for each contribution in respect of which the organization fails to make the required disclosure, except that the totel penalty imposed by this subsection with respect to a particular fundraising event or mailing shall not exceed $5,000. "(b) REASONABLE CAUSE EXCEPTION.—NO penalty shall be imposed under this section with respect to any fedlure if it is shown that such failure is due to reasonable cause. (c) CLERICAL AMENDMENTS.—