Page:United States Statutes at Large Volume 95.djvu/342

 95 STAT. 316 26 USC 303, 2204, 6161. 26 USC 2011. 26 USC 2204. 26 USC 2621.

26 USC 6166.

PUBLIC LAW 97-34—AUG. 13, 1981 (1) Sections 303(b)(1)(C), 2204(c), and 6161(a)(2)(B) are each amended by striking out "or 6166A" each place it appears. (2) Paragraph (2) of section 2011(c) is amended by striking out "6161, 6166 or 6166A" and inserting in lieu thereof "6161 or 6166". (3) Subsections (a) and (b) of section 2204 are each amended by striking out "6166 or 6166A" and inserting in lieu thereof "or 6166". (4) Subsection (b) of section 2621 is amended— (A) by striking out "sections 6166 and 6166A (relating to extensions" and inserting in lieu thereof "section 6166 (relating to extension", and (B) by striking out "SECTIONS 6166 AND 6166A" in the subsection heading and inserting in lieu thereof "SECTION 6166". (5)(A) Subsection (a) of section 6166 is amended by striking out paragraph (4). (B) The section heading for section 6166 is amended by striking out "ALTERNATE".

(C) The table of sections for subchapter B of chapter 62 is amended by striking out the items relating to sections 6166 and 6166A and inserting in lieu thereof the following: "Sec. 6166. Extension of time for payment of estate tax where estate consists largely of interest in closely held business." 26 USC 6324A.

26 USC 6503. 26 USC 7403. 26 USC 6166 note.

(6)(A) Subsections (a), (c)(2), and (e) of section 6324A are each amended by striking out "or 6166A" each place it appears. (B) Paragraphs (3) and (5) of section 6324A(d) are each amended by striking out "or 6166A(h)". (C) The section heading for section 6324A is amended by striking out "OR 6166A". (D) The table of sections for subchapter C of chapter 64 is amended by striking out "or 6166A" in the item relating to section 6324A. (7) Subsection (d) of section 6503 is amended by striking out "6163, 6166, or 6166A" and inserting in lieu thereof "6163 or 6166". (8) Subsection (a) of section 7403 is amended by striking out "or 6166A(h)". (f) EFFECTIVE DATE.—

(1) IN GENERAL.—Except as provided in paragraph (2), the amendments made by this section shall apply to the estates of decedents dying after December 31, 1981. (2) ACCELERATION BY REASON OF SUBSEQUENT DEATH.—The

amendment made by subsection (c)(3) shall apply to transfers after December 31, 1981.

26 USC 2055.

SEC. 423. TREATMENT OF CERTAIN CONTRIBUTIONS OF WORKS OF ART, ETC. (a) ESTATE TAX.—Subsection (e) of section 2055 (relating to disallow-

ance of deduction in certain cases) is amended by adding at the end thereof the following new paragraph:

"(4) WORKS OF ART AND THEIR COPYRIGHTS TREATED AS SEPARATE PROPERTIES IN CERTAIN CASES.—

"(A) IN GENERAL.—In the case of a qualified contribution of a work of art, the work of art and the cop5nright on such work of art shall be treated as separate properties for purposes of paragraph (2).

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