PUBLIC LAW 94-455—OCT. 4, 1976
9 0 STAT. 18S)3
(2) The amendment made by subsection (b) shall apply to gifts made after December 31, 1976. (3) The amendment made by subsection (c) shall take effect— (A) in the case of liens filed before the date of the enactm e n t of this Act, on the 270th d a y after such date of enactment, or (B) in the case of liens filed on or after the date of enactment of this Act, on the 120th day after such date of enactment. SEC. 2009. MISCELLANEOUS PROVISIONS.
26 USC 6075 note. 26 USC 6323 note,
(a) INCLUSION OF STOCK I N DECEDENT'S ESTATE W H E R E DECEDENT
RETAINED VOTING RIGHTS.—Subsection (a) of section 2036 (relating to 26 USC 2036. transfer with retained life estate) is amended by a d d i n g a t the end thereof the following new sentence: " For purposes of paragraph (1), the retention of voting rights in retained stock shall be considered to be a retention of the enjoyment of such stock." (b) DISCLAIMERS.— (1) AMENDMENT OF GIFT TAX PROVISIONS.—Subchapter B of
chapter 12 (relating to transfers for purposes of the gift tax) is amended by a d d i n g at the end thereof the following new section: "SEC. 2518. DISCLAIMERS. 26 USC 2518. " (a) GENERAL RULE. — For purposes of this subtitle, if a person makes a qualified disclaimer with respect to any interest in property, this subtitle shall apply with respect to such interest as if the interest h a d never been transferred to such person. " (b) QUALIFIED DISCLAIMER D E F I N E D. — For purposes of subsection
(a), the term 'qualified disclaimer' means an irrevocable and unqualified refusal by a person to accept an interest in property b u t only if— " (1) such refusal is in writing, " (2) such writing is received by the transferor of the interest, his legal representative, or the holder of the legal title to the property to which the interest relates not later than the date which is 9 months after the later of— " (A) the d a y on which the transfer creating the interest in such person is made, or " (B) the d a y on which such person attains age 21, " (3) such person has not accepted the interest or any of its benefits, and " (4) as a result of such refusal, the interest passes to a person other than the person making the disclaimer (without any direction on the part of the person making the disclaimer). " (c) OTHER RULES. — For purposes of subsection (a) — "(1)
DISCLAIMER OF UNDIVIDED PORTION o r INTEREST.—A dis-
claimer with respect to an undivided portion of a n interest which meets the requirements of the preceding sentence shall be treated as a qualified disclaimer of such portion of the interest. " (2) POWERS.—A power with respect to property shall be treated as an interest in such property." (2) AMENDMENT o r ESTATE TAX PROVISIONS.—Part III of sub-
chapter A of chapter 11 (relating to gross estate) is amended by a d d i n g a t the end thereof the following new section:
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