PUBLIC LAWS-CH. 367-JULY 26, 1939 15 per centum of so much of said property as is in excess of $500,000. bitcharyge from la- "(d) Executors, administrators, trustees, and other persons making distribution shall only be discharged from liability for the amount of such tax, with the payment of which they are charged, by paying the same as hereinafter described. Propertytransferred "(e) Property transferred exclusively for public or municipal etc.,purposes. purposes, to the United States or the District of Columbia, or exclu- sively for charitable, educational, or religious purposes within the District of Columbia, shall be exempt from any and all taxation under the provisions of this section. Beneficiary dying "(f) Where any beneficiary has died or may hereafter die within six within six months after testator's death months after the death of the decedent and before coming into the and before possesson,
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etc.fore possession, possession and enjoyment of any property passing to him, and before selling, assigning, transferring, or in any manner contracting with respect to his interest in such property, such property shall be taxed only once, and if the tax on the property so passing to said beneficiary has not been paid, then the tax shall be assessed on the property received from such share by each beneficiary thereof, finally entitled to the possession and enjoyment thereof, as if he had been the original beneficiary, and the exemptions and rates of taxation shall be gov- erned by the respective relationship of each of the ultimate benefici- aries to the first decedent. Applicationof article. "(g) The provisions of article I of this title shall apply to property in the estate of every person who shall die after this title becomes effective. Transwers within (h) The transfer of any property, or interest therein within 2 death. years prior to death, shall, unless shown to the contrary, be deemed to have been made in contemplation of death. property and inter- (i) All property and interest therein which shall pass from a ests. decedent to the same beneficiary by one or more of the methods speci- fied in this section, and all beneficial interests which shall accrue in the manner herein provided to such beneficiary on account of the death of such decedent, shall be united and treated as a single interest for the purpose of determining the tax hereunder. epneral power of "(j) Whenever any person shall exercise a general power of appoint- ment derived from any disposition of property, made either before or after the passage of this title, such appointment, when made, shall be deemed a transfer taxable, under the provisions of this title, in the same manner as though the property to which such appoint- ment relates belonged absolutely to the donee of such power; and whenever any person possessing such power of appointment so derived shall omit or fail to exercise the same, within the time provided therefor, in whole or in part, a transfer taxable under the provisions of this title shall be deemed to take place to the extent of such omissions or failure in the same manner as though the person or persons thereby becoming entitled to the possession or enjoyment of the property to which such power related had succeeded thereto by the will of the donee of the power failing to exercise such power, taking effect at the time of such omission or failure. table conversion not (k) The doctrine of equitable conversion shall not be invoked in invoked, the assessment of taxes under this article. Tax based on mar- "SEC. 2. The tax provided in section 1 shall be paid on the market ket value; appraisal. value of the property or interest therein at the time of the death of the decedent as appraised by the assessor, or, in the discretion of the assessor, upon the value as appraised by the probate court of the District. The taxable portion of real or personal property held jointly or by the entireties shall be determined by dividing the value of the entire property by the number of persons in whose joint names it was held. [53 STAT.
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