; (B) any organization to which subchapter T of chapter 1 of such Code applies; or (C) any organization described in section 1381(a)(2)(C) of such Code. (3) Recapture In the case of an employer allowed a credit under this section for a taxable year with respect to an applicable retirement plan, if such plan fails to meet the requirements of subsection (c)(4)(B) for the following taxable year, then the tax of the taxpayer under chapter 1 of such Code for such following taxable year shall be increased by an amount equal to the amount of the credit so allowed. (4) Aggregation rules All employees who are treated as employed by a single employer under subsections (b), (c), (m), and (o) of section 414 of such Code shall be treated as employed by a single employer for purposes of this section. In the case of a plan maintained by more than one employer, each such employer shall be treated separately for purposes of this section. (5) Third-party payors Any credit allowed under this section shall be treated as a credit described in section 3511(d)(2) of such Code. (e) Credit refundable for tax-Exempt and cooperative employers In the case of an employer that is a tax exempt or cooperative organization, the credit allowed under this section shall be treated as a credit allowed under subpart C of part IV of subchapter A of chapter 1 of such Code. Section 512(c)(12)(A) of such Code shall be applied without taking into account any such credit as income. (f) Application of section This section shall apply to the taxable year of any taxpayer that includes June 30, 2020, and such taxpayer’s first succeeding taxable year.