Page:United States Statutes at Large Volume 72 Part 1.djvu/1704

 1662 26 USC 6325.

PUBLIC LAW 85-866~SEPT. 2, 1968

[72 S T A T

SEC. 77. RELEASE OF LIEN OR PARTIAL DISCHARGE OF PROPERTY. SectioH 6325 (relating to release of lien or partial discharge of property) is amended— (1) by striking out paragraph (1) of subsection (a) and inserting in lieu thereof the following: " (1) LIABILITY SATISFIED OR UNENFORCEABLE.—The Secretary

or his delegate finds that the liability for the amount assessed, together with all interest in respect thereof, has been fully satisfied or has become legally unenforceable; or". (2) by redesignating subsections (c) and (d) as subsections (d) and (e), respectively, and by inserting after subsection (b) the following new subsection: "(c) ESTATE O G I F T TAX.—Subject to such rules or regulations as R 26 USC 6324. the Secretary or his delegate may prescribe, the Secretary or his delegate may issue a certificate of discharge of any or all of the property subject to any lien imposed by section 6324 if the Secretary or his delegate finds that the liability secured by such lien has been fully satisfied or provided for." (3) iDy striking out the word "partial" where it appears in the heading and text of subsection (d) (as redesignated by paragraph (2)). SEC. 78. CORRECTION OF REFERENCES TO UNITED STATES ATTORNEYS. 26 USC 6338, Sections 6338(c) (relating to deeds for real property purchased 7324, 7325, 7422. by the United States), 7324 (3) (relating to special disposition of perishable goods), 7325 (3) (relating to personal property valued at $1,000 or less), and 7422 (f)(2) (cross reference) are each amended by striking out the word "district" each place it appears in the phrases "United States district attorney" and "United States district attorneys". 26 USC 6339.

26 USC 6501.

26 USC 6501.

SEC. 79. CONVEYANCE OF TITLE. The heading to section 6339(b)(2) (relating to conveyance of title) is amended by striking out "OF" the first place it appears and inserting in lieu thereof "AS". SEC. 80. REQUEST FOR PROMPT ASSESSMENT. (a) SUBSECTION REFERENCES.—The first sentence of section 6501(d) (relating to request for prompt assessment) is amended by striking out "subsection (c)," and inserting in lieu thereof "subsection (c), (e), or (f),". (b) CORPORATIONS.—The second sentence of section 6501(d) (relating to request for prompt assessment) is amended to read as follows: "This subsection shall not apply in the case of a corporation unless— " (1)(A) such written request notifies the Secretary or his delegate that the corporation contemplates dissolution at or before the expiration of such 18-month period, (B) the dissolution is in good faith begun before the expiration of such 18-month period, and (C) the dissolution is completed; "(2)(A) such written request notifies the Secretary or his delegate that a dissolution has in good faith been begun, and (B) the dissolution is completed; or " (3) a dissolution has been completed at the time such written request is made." SEC. 81. LIMITATIONS ON ASSESSMENT AND COLLECTION. (a) EXEMPT ORGANIZATIONS.—Section 6501(g)

(2)

(relating to

returns as exempt organizations) is amended by striking out "corporation" each place it appears and inserting in lieu thereof "organization".

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