§ 6324B. Special lien for additional estate tax attributable to farm, etc., valuation

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1976

   Pub. L. 94–455 title XX § 2003(b) · 90 Stat. 1520

   Enacted · 26 U.S.C. § 6324B

   Added Pub. L. 94–455, title XX, § 2003(b), Oct. 4, 1976, 90 Stat. 1861

   Source evidence

   Code source credit
   Added Pub. L. 94–455, title XX, § 2003(b), Oct. 4, 1976, 90 Stat. 1861

   Enacted provision · exact public law section
   (b) Special Lien.— Subchapter C of chapter 64 (relating to lien for taxes) is amended by inserting after section 6324A the following new section: “SEC. 6324B. SPECIAL LIEN FOR ADDITIONAL ESTATE TAX ATTRIBUTABLE TO FARM, ETC., VALUATION. “(a) General Rule.— In the case of any interest in qualified real property (within the meaning of section 2032A(b)), an amount equal Ante, p. 1856. to the-adjusted tax difference attributable to such interest (within the meaning of section 2032A (c)(2)(B)) shall be a lien in favor of the United States on the property in which such interest exists. “(b) Period of Lien.— The lien imposed by this section shall arise at the time an election is filed under section 2032A and shall continue with respect to any interest-in the qualified farm real property— “(1) until the liability for tax under subsection (c) of section 2032A with respect to such interest has been satisfied or has become unenforceable by reason of lapse of time, or “(2) until it is established to the satisfaction of the Secretary that no further tax liability may arise under section 2032A(c) with respect to such interest. “(c) Certain Rules Made Applicable.— The rules set forth in paragraphs (1), (3), and (4) of section 6324A(d) shall apply with Post, p. 1868. respect to the lien imposed by this section as if it were a lien imposed by section 6324A. “(d) Substitution of Security for Lien.— To the extent provided in regulations prescribed by the Secretary, the furnishing of security may be substituted for the lien imposed by this section.”

2. 1978

   Pub. L. 95–600 title VII § 702(r)(4) · 92 Stat. 2763

   Substituted · 26 U.S.C. § 6324B(b)

   Pub. L. 95–600 substituted “qualified real property” for “qualified farm real property”

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 95–600 substituted “qualified real property” for “qualified farm real property”.

   Enacted provision · exact public law section
   (4) Clerical amendment to section 6324B(b).— Subsection (b) 26 USC 6324. of section 6324B (relating to period of lien for additional estate tax attributable to farm, etc., valuation) is amended by striking out “qualified farm real property” and inserting in lieu thereof “qualified real property”.

3. 1980

   Technical Corrections Act of 1979

   Pub. L. 96–222 title I § 108(d) · 94 Stat. 194

   1. Amended · 26 U.S.C. § 6324B(c)

      Pub. L. 96–222 designated existing provisions as par. (1)

   2. Substituted · 26 U.S.C. § 6324B(c)

      Pub. L. 96–222 substituted “The rule” for “The rules”

   3. Added · 26 U.S.C. § 6324B(c)

      Pub. L. 96–222 added par. (2)

   Source evidence

   Code amendment note
   Subsec. (c). Pub. L. 96–222 designated existing provisions as par. (1), substituted “The rule” for “The rules”, and added par. (2).

   Enacted provision · exact public law section
   (d) Amendments Related to Public Law 95–472.— Subsection (c) of section 6324B (relating to special lien for additional estate tax attributable to farm, etc., valuation) is amended to read as follows: “(c) Certain Rules and Definitions Made Applicable.— “(1) In general.— The rule set forth in paragraphs (1), (3), and (4) of section 6324A(d) shall apply with respect to the lien imposed by this section as if it were a lien imposed by section 6324A. “(2) Qualified real property.— For purposes of this section, the term ‘qualified real property’ includes qualified replacement property (within the meaning of section 2032A(h)(3)(B)).”

4. 1981

   Economic Recovery Tax Act of 1981

   Pub. L. 97–34 title IV § 421(d)(2)(B) · 95 Stat. 175

   Changed · 26 U.S.C. § 6324B(c)(2)

   Pub. L. 97–34 defined “qualified real property” to include qualified exchange property (within the meaning of section 2032A(i)(3))

   Source evidence

   Code amendment note
   Subsec. (c)(2). Pub. L. 97–34 defined “qualified real property” to include qualified exchange property (within the meaning of section 2032A(i)(3)).

   Enacted provision · exact public law section
   (B) Paragraph (2) of section 6324B(c) (relating to special 26 USC 6324B. liens) is amended by inserting “and qualified exchange property (within the meaning of section 2032A(i)(3))” before Ante, p. 308. the period at the end thereof.

   Effective date note
   Amendment by Pub. L. 97–34 applicable with respect to exchanges after Dec. 31, 1981, see section 421(k)(3) of Pub. L. 97–34, set out as a note under section 2032A of this title.

6 of 6 references resolved to an enrolled provision