REPLACEMENT OF PROPERTY INVOLUNTARILY CONVERTED WITHIN A 2-YEAR PERIOD.

SEC. 915. REPLACEMENT OF PROPERTY INVOLUNTARILY CONVERTED WITHIN A 2-YEAR PERIOD. (a) In General.—Section 1033(a)(3)(B) (relating to the period within which property must be replaced) is amended by striking out “one year” in clause (i) and inserting in lieu thereof “2 years”. (b) Effective Date.—The amendment made by this section shall apply only if the disposition of the converted property (within the meaning of section 1033(a)(2) of the Internal Revenue Code of 1954) occurs after the date of the enactment of this Act.