Section 904 - Election of reimbursement(a) Any nonprofit organization which, on or after January 1, 1972, is or becomes liable to the contribution provisions of this act may, in lieu of payment of such contributions, elect to pay to the department for the Unemployment Compensation Fund an amount equal to the amount of regular benefits and of one-half of the extended benefits paid, that is attributable to service in the employ of such nonprofit organization. Such employer shall continue to be liable for reimbursement of benefit payments based on wages paid prior to the termination date of such election.(b) Such election shall be for a period of not less than two taxable years unless sooner terminated by the department as hereinafter provided.1936, Second Ex.Sess., Dec. 5, P.L. (1937) 2897, art. XI, § 1104, added 1971, Sept. 27, P.L. 460, No. 108, § 20. Amended 1977, July 6, P.L. 41, No. 22, § 10, imd. effective.