REDEMPTION OF STOCK TO PAY DEATH TAXES.

SEC. 320. REDEMPTION OF STOCK TO PAY DEATH TAXES. (a) Amendment of Section 115 (g) (3).—Section 115 (g) (3) (relating to redemption of stock to pay death taxes) is hereby amended by striking out “50 per centum of the value of the net estate” and inserting in lieu thereof “35 per centum of the value of the gross estate”. (b) Effective Date.—The amendment made by subsection (a) shall be applicable to taxable years ending on or after the date of the enactment of this Act, but shall apply only to amounts distributed on or after such date.