Page:United States Statutes at Large Volume 62 Part 1.djvu/418

 388 56 Stat. 944; 81 Stat- 178. 26 U. S. c.S 811, 812, 826, 861 notes; Supp. I, 11811, 812,861 notes. Ante, pp. 116, 117- 121, 123, 124; post, p. 1214. 56 Stat. 952. 26 U. S. C., Supp. I, § 1000 note. 66 Stat. 942 952. 26 U. 8. 5. ff811, 812, 826, 861, 1000 and notes; Supp. I, if 811, 812,861 ,1000 . Ante, pp. 116, 117- 121, 123, 124; pod, p. 1214. 56 Stat. 917. 26 U.S.. C n710736 note. 54 Stat. 986. 26 U.S. C. lI710- 736 note. 56 Stat. 917. 26 U. s. C.0I 710- 736 note. PUBLIC LAWS-CHS. 459, 462 -JUNE 12, 14, 1948 [62 STAT. the Revenue Act of 1942 (relating to the release of certain powers of appointment) is hereby amended by striking out "July 1, 1948" wherever it appears and inserting in lieu thereof "July 1, 1949"; and section 452 (c) of the Revenue Act of 1942 is hereby amended to read as follows: "(c) RELEASE BEroR JULY 1, 1949. - "(1) A release of a power to appoint before July 1, 1949, shall not be deemed a transfer of property by the individual possessing such power. "(2) This subsection shall apply to all calendar years prior to 1949 and to that part of the calendar year 1949 prior to July 1, 1949." SEC. 2. For the purposes of sections 403 and 452 of the Revenue Act of 1942, a power to appoint created by a will executed on or before October 21, 1942, shall be considered a power created on or before such date if the person executing such will dies before July 1, 1949, without having republished such will, by codicil or otherwise, after October 21, 1942. EXTENSION OF TIME FOR ASSESSMENT OF DEFERED EXCESS PROFITS TAX SEC. 3. (a) Section 710 (a) (5) of the Internal Revenue Code is hereby amended by adding at the end thereof the following: "Notwith- standing any other provision of law or rule of law, to the extent that any amount of tax remaining unpaid pursuant to this paragraph is in excess of the reduction in tax finally determined under section 722, such excess may be assessed at any time before the expiration of one year after such final determination." (b) The amendment made by this section shall be effective as if made by section 222 (b) of the Revenue Act of 1942. Approved June 12, 1948. [CHAPTER 462] une 1948 JOINT RESOLUTION June 14. 1948 . I8.J .Res.2271 Providing for appropriate observance of the two-hundredth anniversary of the (Public Law 636] founding of Washington and Lee University. Washington and Lee University, Va. Two-hundredth an- nlversary of founding. Whereas during the year 1949 there will be celebrated the two- hundredth anniversary of the founding of the Washington and Lee University as Augusta Academy; and Whereas George Washington made this institution the beneficiary of the gift which the Commonwealth of Virginia tendered him for his services in the Revolution; and Whereas Robert E. Lee, declining easier and more lucrative positions, gave the last years of his life to the service of education in that college; and Whereas the contributions of these two eminent citizens, joined with those of a long roll of others devoted to the public good, have forged an institution which has served the Nation for two centuries in maintaining and promoting the ideals of constitutional Ameri- can liberty: Now, therefore, be it Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That the Government and people of the United States unite with Washington and Lee Uni- versity and with the Commission on the Washington and Lee Uni- versity Bicentennial authorized by the General Assembly of the Commonwealth of Virginia in the appropriate observance of this anniversary.

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