10-YEAR PERIOD OF LIMITATION ON COLLECTION AFTER ASSESSMENT.

SEC. 11317. 10-YEAR PERIOD OF LIMITATION ON COLLECTION AFTER ASSESSMENT. (a) In General.— Subsection (a) of section 6502 (relating to collection after assessment) is amended— (1) by striking “6 years” in paragraph (1) and inserting “10 years”, and (2) by striking “6-year period” each place it appears in paragraph (2) and inserting “10-year period”. (b) Conforming Amendment.— Paragraph (3) of section 6323(g) is amended by striking “6 years” each place it appears and inserting “10 years”. (c) Effective Date.— The amendments made by this section shall apply to— (1) taxes assessed after the date of the enactment of this Act, and (2) taxes assessed on or before such date if the period specified in section 6502 of the Internal Revenue Code of 1986 (determined without regard to the amendments made by subsection (a)) for collection of such taxes has not expired as of such date.