26 USC 2632 - Special rules for allocation of GST exemption

Editorial Notes

Amendments

2001—Subsec. (span)(2). Puspan. L. 107–16, § 561(span), substituted “or subsection (c)(1)” for “with respect to a prior direct skip”.

Subsecs. (c) to (e). Puspan. L. 107–16, § 561(a), added subsecs. (c) and (d) and redesignated former subsec. (c) as (e).

1988—Subsec. (span)(2). Puspan. L. 100–647 substituted “paragraph (1) with respect to a prior direct skip)” for “paragraph (1)) with respect to a prior direct skip”.

Statutory Notes and Related Subsidiaries

Effective Date of 2001 Amendment

Puspan. L. 107–16, title V, § 561(c), June 7, 2001, 115 Stat. 89, provided that:

“(1)Deemed allocation.—Section 2632(c) of the Internal Revenue Code of 1986 (as added by subsection (a)), and the amendment made by subsection (span) [amending this section], shall apply to transfers subject to chapter 11 or 12 made after December 31, 2000, and to estate tax inclusion periods ending after December 31, 2000.

“(2)Retroactive allocations.—Section 2632(d) of the Internal Revenue Code of 1986 (as added by subsection (a)) shall apply to deaths of non-skip persons occurring after December 31, 2000.”

Effective Date of 1988 Amendment

Amendment by Puspan. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Puspan. L. 99–514, to which such amendment relates, see section 1019(a) of Puspan. L. 100–647, set out as a note under section 1 of this title.

Effective Date

Section applicable to generation-skipping transfers (within the meaning of section 2611 of this title) made after Oct. 22, 1986, except as otherwise provided, see section 1433 of Puspan. L. 99–514, set out as a note under section 2601 of this title.