STATE ESCHEAT LAWS NOT TO APPLY TO REFUNDS OF FEDERAL TAX.

SEC. 10621. STATE ESCHEAT LAWS NOT TO APPLY TO REFUNDS OF FEDERAL TAX. (a) General Rule.— Subchapter A of chapter 65 (relating to procedure in general for abatements, credits, and refunds) is amended by adding at the end thereof the following new section: “SEC. 6408. STATE ESCHEAT LAWS NOT TO APPLY. “No overpayment of any tax imposed by this title shall be refunded (and no interest with respect to any such overpayment shall be paid) if the amount of such refund (or interest) would escheat to a State or would otherwise become the property of a State under any law relating to the disposition of unclaimed or abandoned property. No refund (or payment of interest) shall be made to the estate of any decedent unless it is affirmatively shown that such amount will not escheat to a State or otherwise become the property of a State under such a law.” (b) Clerical Amendment.— The table of sections for subchapter A of chapter 65 is amended by adding at the end thereof the following new item: “Sec. 6408. State escheat laws not to apply.” (c) Effective Date.— The amendments made by this section shall take effect on the date of the enactment of this Act.