Page:United States Statutes at Large Volume 115 Part 1.djvu/61

 PUBLIC LAW 107-16-JUNE 7, 2001 115 STAT. 39 Subtitle C—Liberalization of Tax-Exempt Financing Rules for Public School Construction Sec. 421. Additional increase in arbitrage rebate exception for governmental bonds used to finance educational facilities. Sec. 422. Treatment of qualified public educational facility bonds as exempt facility bonds. Subtitle D—Other Provisions Sec. 431. Deduction for higher education expenses. ' TITLE V—ESTATE, GIFT, AND GENERATION-SKIPPING TRANSFER TAX PROVISIONS Subtitle A—Repeal of Estate and Generation-Skipping Transfer Taxes Sec. 501. Repeal of estate and generation-skipping transfer taxes. Subtitle B—Reductions of Estate and Gift Tax Rates Sec. 511. Additional reductions of estate and gift tax rates. Subtitle C—Increase in Exemption Amounts Sec. 521. Increase in exemption equivalent of unified credit, lifetime gifts exemption, and GST exemption amounts. Subtitle D—Credit for State Death Taxes Sec. 531. Reduction of credit for State death taxes. Sec. 532. Credit for State death taxes replaced with deduction for such taxes. Subtitle E—Carryover Basis at Death; Other Changes Taking Effect With Repeal Sec. 541. Termination of step-up in basis at death. Sec. 542. Treatment of property acquired from a decedent dying after December 31, 2009. Subtitle F—Conservation Easements Sec. 551. Expansion of estate tax rule for conservation easements. Subtitle G—Modifications of Generation-Skipping Transfer Tax Sec. 561. Deemed allocation of GST exemption to lifetime transfers to trusts; retroactive allocations. Sec. 562. Severing of trusts. Sec. 563. Modification of certain valuation rules. Sec. 564. Relief provisions. Subtitle H—Extension of Time for Payment of Estate Tax Sec. 571. Increase in number of allowable partners and shareholders in closely held businesses. Sec. 572. Expansion of availability of installment payment for estates with interests qualifying lending and finance businesses. Sec. 573. Clarification of availability of installment payment. Subtitle I—Other Provisions Sec. 581. Waiver of statute of limitation for taxes on certain farm valuations. TITLE VI—PENSION AND INDIVIDUAL RETIREMENT ARRANGEMENT PROVISIONS Subtitle A—Individual Retirement Accounts Sec. 601. Modification of IRA contribution limits. Sec. 602. Deemed IRAs under employer plans. Subtitle B—Expanding Coverage Sec. 611. Increase in benefit and contribution limits. Sec. 612. Plan loans for subchapter S owners, partners, and sole proprietors. Sec. 613. Modification of top-heavy rules. Sec. 614. Elective deferrals not taken into account for purposes of deduction limits. Sec. 615. Repeal of coordination requirements for deferred compensation plans of State and local governments and tax-exempt organizations. Sec. 616. Deduction limits. Sec. 617. Option to treat elective deferrals as after-tax Roth contributions.

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