The main purpose of this legislation, known as the Combatting Hospital Monopolies Act, is to give the Federal Trade Commission (FTC) more power to oversee certain tax-exempt organizations, specifically hospitals and hospital service cooperatives. This aims to enhance regulatory oversight and promote fair competition in the healthcare sector. Key provisions of the Act include an amendment to the definition of "Corporation" in the Federal Trade Commission Act. This change allows the FTC to include hospital organizations that are tax-exempt under section 501(c)(3) of the Internal Revenue Code.