Page:United States Statutes at Large Volume 119.djvu/145

 PUBLIC LAW 109–8—APR. 20, 2005

119 STAT. 127

‘‘(B) for a tax or customs duty with respect to which the debtor— ‘‘(i) made a fraudulent return; or ‘‘(ii) willfully attempted in any manner to evade or to defeat such tax or such customs duty.’’. SEC. 709. STAY OF TAX PROCEEDINGS LIMITED TO PREPETITION TAXES.

Section 362(a)(8) of title 11, United States Code, is amended by striking ‘‘the debtor’’ and inserting ‘‘a corporate debtor’s tax liability for a taxable period the bankruptcy court may determine or concerning the tax liability of a debtor who is an individual for a taxable period ending before the date of the order for relief under this title’’. SEC. 710. PERIODIC PAYMENT OF TAXES IN CHAPTER 11 CASES.

Section 1129(a)(9) of title 11, United States Code, is amended— (1) in subparagraph (B), by striking ‘‘and’’ at the end; (2) in subparagraph (C), by striking ‘‘deferred cash payments,’’ and all that follows through the end of the subparagraph, and inserting ‘‘regular installment payments in cash— ‘‘(i) of a total value, as of the effective date of the plan, equal to the allowed amount of such claim; ‘‘(ii) over a period ending not later than 5 years after the date of the order for relief under section 301, 302, or 303; and ‘‘(iii) in a manner not less favorable than the most favored nonpriority unsecured claim provided for by the plan (other than cash payments made to a class of creditors under section 1122(b)); and’’; and (3) by adding at the end the following: ‘‘(D) with respect to a secured claim which would otherwise meet the description of an unsecured claim of a governmental unit under section 507(a)(8), but for the secured status of that claim, the holder of that claim will receive on account of that claim, cash payments, in the same manner and over the same period, as prescribed in subparagraph (C).’’. SEC. 711. AVOIDANCE OF STATUTORY TAX LIENS PROHIBITED.

Section 545(2) of title 11, United States Code, is amended by inserting before the semicolon at the end the following: ‘‘, except in any case in which a purchaser is a purchaser described in section 6323 of the Internal Revenue Code of 1986, or in any other similar provision of State or local law’’. SEC. 712. PAYMENT OF TAXES IN THE CONDUCT OF BUSINESS.

(a) PAYMENT OF TAXES REQUIRED.—Section 960 of title 28, United States Code, is amended— (1) by inserting ‘‘(a)’’ before ‘‘Any’’; and (2) by adding at the end the following: ‘‘(b) A tax under subsection (a) shall be paid on or before the due date of the tax under applicable nonbankruptcy law, unless— ‘‘(1) the tax is a property tax secured by a lien against property that is abandoned under section 554 of title 11, within a reasonable period of time after the lien attaches, by the trustee in a case under title 11; or

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