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|Text of IRS Rev. Proc. 2015-17: Determination Letters for Qualified Nonprofit Health Insurance Issuers (PDF)|
Internal Revenue Service [IRS]
Feb. 2, 2015
"The purpose of the CO-OP program is to foster the creation of member-governed [qualified nonprofit health insurance issuers (QNHIIs)] that will operate with a strong consumer focus and offer qualified health plans in the individual and small group markets.... [A] QNHII ... which has received a loan or grant under the CO-OP program may be recognized as exempt from taxation under Section 501(a), but only for periods for which the organization is in compliance with the requirements of Section 1322 of the [ACA] and of any loan agreement with the Secretary of [HHS].... QNHIIs seeking recognition of exemption under Section 501(c)(29) should follow this revenue procedure and, to the extent not inconsistent with this revenue procedure, Rev. Proc. 2015-9[.]"
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