Page:United States Statutes at Large Volume 111 Part 1.djvu/1063

 PUBLIC LAW 105-34—AUG. 5, 1997 111 STAT. 1039 (d) EFFECTIVE DATE. —The amendments made by this section 26 USC 7430 shall apply to civil actions or proceedings commenced after the note. date of the enactment of this Act. TITLE XIII—SIMPLIFICATION PROVI- SIONS RELATING TO ESTATE AND GIFT TAXES SEC. 1301. GIFTS TO CHARITIES EXEMPT FROM GIFT TAX FILING REQUIREMENTS. (a) IN GENERAL.—Section 6019 is amended by striking "or" at the end of paragraph (1), by adding "or" at the end of paragraph (2), and by inserting after paragraph (2) the following new paragraph: "(3) a transfer with respect to which a deduction is allowed under section 2522 but only if— "(A)(i) such transfer is of the donor's entire interest in the property transferred, and "(ii) no other interest in such property is or has been transferred (for less than adequate and full consideration in money or money's worth) from the donor to a person, or for a use, not described in subsection (a) or (b) of section 2522, or "(B) such transfer is described in section 2522(d),". (b) EFFECTIVE DATE. —The amendment made by this section shall apply to gifts made after the date of the enactment of this Act. SEC. 1302. CLARIFICATION OF WAIVER OF CERTAIN RIGHTS OF RECOV- ERY. (a) AMENDMENT TO SECTION 2207A.— Paragraph (2) of section 2207A(a) (relating to right of recovery in the case of certain marital deduction property) is amended to read as follows: "(2) DECEDENT MAY OTHERWISE DIRECT. — Paragraph (1) shall not apply with respect to any property to the extent that the decedent in his will (or a revocable trust) specifically indicates an intent to waive any right of recovery under this subchapter with respect to such property.". (b) AMENDMENT TO SECTION 2207B. —Paragraph (2) of section 2207B(a) (relating to right of recovery where decedent retained interest) is amended to read as follows: "(2) DECEDENT MAY OTHERWISE DIRECT. — Paragraph (1) shall not apply with respect to any property to the extent that the decedent in his will (or a revocable trust) specifically indicates an intent to waive any right of recovery under this subchapter with respect to such property.". (c) EFFECTIVE DATE. —The amendments made by this section shall apply with respect to the estates of decedents dying after the date of the enactment of this Act. SEC. 1303. TRANSITIONAL RULE UNDER SECTION 2056A, (a) GENERAL RULE. — In the case of any trust created under an instrument executed before the date of the enactment of the Revenue Reconciliation Act of 1990, such trust shall be treated as meeting the requirements of paragraph (1) of section 2056A(a) 26 USC 6019 note. 26 USC 2207A note. 26 USC 2056A note.

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