If any amount as adjusted under the preceding sen-
tence is not a multiple of $100,000, such amount 
shall be rounded to the nearest multiple of 
$100,000.’’. 
(2) 
CONFORMING
AMENDMENT.—Section 
2502(a) (relating to computation of tax), after the 
application of subsection (g), is amended by adding 
at the end the following flush sentence: 
‘‘In computing the tentative tax under section 2001(c) for 
purposes of this subsection, ‘the last day of the calendar 
year in which the gift was made’ shall be substituted for 
‘the date of the decedent’s death’ each place it appears 
in such section.’’. 
(d) MODIFICATIONS OF ESTATE AND GIFT TAXES TO 
REFLECT DIFFERENCES IN UNIFIED CREDIT RESULTING 
FROM DIFFERENT TAX RATES.— 
(1) ESTATE TAX.— 
(A) IN GENERAL.—Section 2001(b)(2) (re-
lating to computation of tax) is amended by 
striking ‘‘if the provisions of subsection (c) (as 
in effect at the decedent’s death)’’ and inserting 
‘‘if the modifications described in subsection 
(g)’’. 
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(B) MODIFICATIONS.—Section 2001 is 
amended by adding at the end the following 
new subsection: 
‘‘(g) MODIFICATIONS TO GIFT TAX PAYABLE TO RE-
FLECT DIFFERENT TAX RATES.—For purposes of apply-
ing subsection (b)(2) with respect to 1 or more gifts, the 
rates of tax under subsection (c) in effect on the date of 
the decedent’s death shall, in lieu of the rates of tax in 
effect at the time of such gifts, be used both to compute— 
‘‘(1) the tax imposed by chapter 12 with respect 
to such gifts, and 
‘‘(2) the credit allowed against such tax under 
section 2505, including in computing— 
‘‘(A) the applicable credit amount under 
section 2505(a)(1), and 
‘‘(B) the sum of the amounts allowed as a 
credit for all preceding periods under section 
2505(a)(2). 
For purposes of paragraph (2)(A), the applicable 
credit amount for any calendar year before 1998 is 
the amount which would be determined under sec-
tion 2010(c) if the applicable exclusion amount were 
the dollar amount under section 6018(a)(1) for such 
year.’’. 
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(2) GIFT
TAX.—Section 2505(a) (relating to 
unified credit against gift tax), after the application 
of subsection (g), is amended by adding at the end 
the following new flush sentence: 
‘‘For purposes of applying paragraph (2) for any calendar 
year, the rate schedule under section 2001(c) used in com-
puting the applicable credit amount under paragraph (1) 
for such calendar year shall, in lieu of the rates of tax 
in effect for preceding calendar periods, be used in deter-
mining the amounts allowable as a credit under this sec-
tion for all preceding calendar periods.’’. 
(e) REPEAL
OF DEDUCTION
FOR STATE DEATH 
TAXES.— 
(1) IN
GENERAL.—Section 2058 (relating to 
State death taxes) is amended by adding at the end 
the following: 
‘‘(c) TERMINATION.—This section shall not apply to 
the estates of decedents dying after December 31, 2009.’’. 
(2) 
CONFORMING
AMENDMENT.—Section 
2106(a)(4) is amended by adding at the end the fol-
lowing new sentence: ‘‘This paragraph shall not 
apply to the estates of decedents dying after Decem-
ber 31, 2009.’’. 
(f) EFFECTIVE DATE.—The amendments made by 
this section shall apply to estates of decedents dying, gen-
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eration-skipping transfers, and gifts made, after Decem-
ber 31, 2009. 
(g) ADDITIONAL MODIFICATIONS TO ESTATE TAX.— 
(1) IN GENERAL.—The following provisions of 
the Economic Growth and Tax Relief Reconciliation 
Act of 2001, and the amendments made by such 
provisions, are hereby repealed: 
(A) Subtitles A and E of title V. 
(B) Subsection (d), and so much of sub-
section (f)(3) as relates to subsection (d), of 
section 511. 
(C) Paragraph (2) of subsection (b), and 
paragraph (2) of subsection (e), of section 521. 
The Internal Revenue Code of 1986 shall be applied 
as if such provisions and amendments had never 
been enacted. 
(2) SUNSET NOT TO APPLY.—Section 901 of 
the Economic Growth and Tax Relief Reconciliation 
Act of 2001 shall not apply to title V (other than 
subtitles F, G, and H thereof) of such Act. 
(3) REPEAL OF DEADWOOD.— 
(A) Sections 2011, 2057, and 2604 of the 
Internal Revenue Code of 1986 are hereby re-
pealed. 
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