A bill to amend the Internal Revenue Code of 1986 to provide that the extension of time for payment of the estate tax on property valued under section 2032A of such Code shall not be terminiated by reason of a disposition of the property to a member of the qualified heir's family.

Amends the Internal Revenue Code to exclude dispositions of land valued under use value principles and transferred to a member of the qualified heir's family from provisions requiring accelerated payment of deferred estate tax liability in qualified instances in which the estate consists largely of interest in a closely held business.