“If—“(1) an organization did not make an election to make payments (in lieu of contributions) as provided in section 3309(a)(2) of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] before April 1, 1972, because such organization, as of such date, was treated as an organization described in section 501(c)(4) of such Code,
“(2) the Internal Revenue Service subsequently determined that such organization was described in section 501(c)(3) of such Code, and
“(3) such organization made such an election before the earlier of—“(A) the date 18 months after such election was first available to it under the State law, or
“(B) January 1, 1984,
then [former] section 3303(f) of such Code shall be applied with respect to such organization as if it did not contain the requirement that the election be made before April 1, 1972, and by substituting ‘January 1, 1982’ for ‘January 1, 1969’.”
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