
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC6324B]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                Subtitle F--Procedure and Administration
 
                         CHAPTER 64--COLLECTION
 
                      Subchapter C--Lien for Taxes
 
                             PART II--LIENS
 
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 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 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 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)) and qualified exchange property 
    (within the meaning of section 2032A(i)(3)).

(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.

(Added Pub. L. 94-455, title XX, Sec. 2003(b), Oct. 4, 1976, 90 Stat. 
1861; amended Pub. L. 95-600, title VII, Sec. 702(r)(4), Nov. 6, 1978, 
92 Stat. 2939; Pub. L. 96-222, title I, Sec. 108(d), Apr. 1, 1980, 94 
Stat. 228; Pub. L. 97-34, title IV, Sec. 421(d)(2)(B), Aug. 13, 1981, 95 
Stat. 309.)


                               Amendments

    1981--Subsec. (c)(2). Pub. L. 97-34 defined ``qualified real 
property'' to include qualified exchange property (within the meaning of 
section 2032A(i)(3)).
    1980--Subsec. (c). Pub. L. 96-222 designated existing provisions as 
par. (1), substituted ``The rule'' for ``The rules'', and added par. 
(2).
    1978--Subsec. (b). Pub. L. 95-600 substituted ``qualified real 
property'' for ``qualified farm real property''.


                    Effective Date of 1981 Amendment

    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.


                    Effective Date of 1980 Amendment

    Amendment by Pub. L. 96-222 effective, except as otherwise provided, 
as if it had been included in the provisions of the Revenue Act of 1978, 
Pub. L. 95-600, to which such amendment relates, see section 201 of Pub. 
L. 96-222, set out as a note under section 32 of this title.


                    Effective Date of 1978 Amendment

    Amendment by Pub. L. 95-600 applicable to estates of decedents dying 
after Dec. 31, 1976, see section 702(r)(5) of Pub. L. 95-600, set out as 
a note under section 2051 of this title.

                  Section Referred to in Other Sections

    This section is referred to in sections 2032A, 2057, 6324A, 6325 of 
this title.
