In the administration of any trust which is a “private foundation” as defined in § 509 of the Internal Revenue Code, or which is a “charitable trust” as defined in § 4947 (a)(1) of the Internal Revenue Code, there shall be distributed, for the purposes specified in the trust instrument, for each taxable year, amounts at least sufficient to avoid liability for the tax imposed by § 4942 (a) of the Internal Revenue Code.

Added by Acts 1974, c. 11, § 2, eff. July 1, 1974. Amended by Acts 1988, c. 110, § 1.

Formerly Art. 16, § 199E.