A bill to amend the Internal Revenue Code of 1954 to provide that mutual fund shares and securities trust agreements shall be values at their bid price, rather than at their asked price, for estate and gift.

Provides that mutual fund shares and securities trust agreements shall be valued at their market value upon the date of decedent's death, for estate tax purposes under the Internal Revenue Code, and at their market value upon the date of transfer to the donee, for gift tax purposes. (Amends 26 U.S.C. 2031(b), 2512)