REVERSIONARY INTERESTS IN CASE OF LIFE INSURANCE.

SEC. 209. REVERSIONARY INTERESTS IN CASE OF LIFE INSURANCE. (a) Decedents Dying After January 10, 1941, and Before October 22, 1942.—Effective with respect to estates of decedents dying after January 10, 1941, and before October 22, 1942, the proceeds of life insurance receivable by beneficiaries other than the executor shall not be included in the gross estate of a decedent under section 811 (g) of the Internal Revenue Code unless such proceeds would have been includible under section 404 (c) of the Revenue Act of 1942 (as amended by section 503 (a) of the Revenue Act of 1950) had such section 404 (c), as so amended, applied to such estate. (b) Interest.—No interest shall be allowed or paid on any overpayment resulting from the application of subsection (a) with respect to any payment made before the date of the enactment of this Act.