A bill to amend the Internal Revenue Code of 1986 to extend the time for payment of the estate tax on certain timber stands.

Amends the Internal Revenue Code to provide that, in the case of an interest in a qualified timber property which is included in determining the gross estate of a decedent, the executor may elect to pay part or all of the estate tax (subject to a limitation) on or before the date which is the earliest of: (1) the date the property is no longer qualified timber property; (2) the date the individual who inherited the interest in the qualified timber property either transfers the interest or dies; or (3) the date which is 25 years after the date of death of the decedent.