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139 STAT. 183 PUBLIC LAW 119–21—JULY 4, 2025 ‘‘(i) if such person is not the estate of such bene- ficiary, be includible in such person’s gross income for the taxable year which includes such date, or ‘‘(ii) if such person is the estate of such beneficiary, be includible in such beneficiary’s gross income for the last taxable year of such beneficiary. ‘‘(e) QUALIFIED ROLLOVER CONTRIBUTION.—For purposes of this section, the term ‘qualified rollover contribution’ means an amount which is paid in a direct trustee-to-trustee transfer from a Trump account maintained for the benefit of the account beneficiary to a Trump account maintained for such beneficiary, but only if the amount of such payment is equal to the entire balance of the Trump account from which the payment is made. ‘‘(f) QUALIFIED GENERAL CONTRIBUTION.—For purposes of this section— ‘‘(1) IN GENERAL.—The term ‘qualified general contribution’ means any contribution which— ‘‘(A) is made by the Secretary pursuant to a general funding contribution, ‘‘(B) is made to the Trump account of an account bene- ficiary in the qualified class of account beneficiaries speci- fied in the general funding contribution, and ‘‘(C) is in an amount which is equal to the ratio of— ‘‘(i) the amount of such general funding contribu- tion, to ‘‘(ii) the number of account beneficiaries in such qualified class. ‘‘(2) GENERAL FUNDING CONTRIBUTION.—The term ‘general funding contribution’ means a contribution which— ‘‘(A) is made by— ‘‘(i) an entity described in section 170(c)(1) (other than a possession of the United States or a political subdivision thereof) or an Indian tribal government, or ‘‘(ii) an organization described in section 501(c)(3) and exempt from tax under section 501(a), and ‘‘(B) which specifies a qualified class of account bene- ficiaries to whom such contribution is to be distributed. ‘‘(3) QUALIFIED CLASS.— ‘‘(A) IN GENERAL.—The term ‘qualified class’ means any of the following: ‘‘(i) All account beneficiaries who have not attained the age of 18 before the close of the calendar year in which the contribution is made. ‘‘(ii) All account beneficiaries who have not attained the age of 18 before the close of the calendar year in which the contribution is made and who reside in one or more States or other qualified geographic areas specified by the terms of the general funding contribution. ‘‘(iii) All account beneficiaries who have not attained the age of 18 before the close of the calendar year in which the contribution is made and who were born in one or more calendar years specified by the terms of the general funding contribution. ‘‘(B) QUALIFIED GEOGRAPHIC AREA.—The term ‘qualified geographic area’ means any geographic area in which not