Page:United States Statutes at Large Volume 90 Part 2.djvu/385

 PUBLIC LAW 94-455—OCT. 4, 1976

90 STAT. 1853

templation of decedent's death " and inserting in lieu thereof " during the 3-year period ending on the date of the decedent's death". (ii) Paragraph (2) of section 2038(a) (relating to 26 USC 2038. revocable transfer) is amended by striking out " i n contemplation of his death " and inserting in lieu thereof " during the 3-year period ending on the date of the decedent's death". (L) PROPERTY W I T H I N THE UNITED STATES.—Subsection (b)

of section 2104 (relating to revocable transfers and transfers 26 USC 2104. in contemplation of death) is amended by striking out "AND TRANSFERS I N CONTEMPLATION OF D E A T H " in the subsection heading and inserting i n lieu thereof "AND TRANSFERS W I T H I N 3 YEARS OF D E A T H ".

(M) PRIOR INTERESTS.—Section 2044 (relating to prior 26 USC 2044. interests) is amended by striking o u t "specifically provided therein" and inserting in lieu thereof "specifically provided by law". (N) CLERICAL AMENDMENTS.—

(i) The item relating to section 2001 in the table of sections for part I of subchapter A of chapter 11 is amended to read as follows: "Sec. 2001. Imposition and rate of tax." (ii) The table of sections for part II of subchapter A of chapter 11 is amended by inserting before the item relating to section 2011 the following new item: "Sec. 2010. Unified credit against estate tax." (iii) The table of sections for part III of subchapter A of chapter 11 is amended by striking out the item relating to section 2035 and inserting in lieu thereof the following new item: "Sec. 2035. Adjustments for gifts made witliin 3 years of decedent's death."

(iv) The table of sections for part IV of subchapter A of chapter 11 is amended by striking out the item relating to section 2052. (2) CHANGES I N GIFT TAX.— (A) TAXABLE GIFTS FOR PRECEDING YEARS AND QUARTERS.—

Subsection (a) of section 2504 (relating to taxable gifts for 26 USC 2504. preceding years and quarters) is amended by striking out "except that " and all that follows and inserting in lieu thereof "except that the specific exemption i n the amount, if any, allowable under section 2521 (as in effect before its repeal by the T a x Reform Act of 1976) shall be applied in all computations in respect of calendar years or calendar quarters ending before January 1, 1977, for purposes of computing the tax for any calendar quarter." (B) CLERICAL AMENDMENTS.—

(i) The table of sections for subchapter A of chapter 12 is amended by a d d i n g a t the end thereof the following new item: "Sec. 2505. Unified credit against gift tax."

(ii) The table of sections for subchapter C of chapter 12 is amended by striking out the item relating to section 2521.

89-194 O—78—pt. 2

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