SECTION 1. Subparagraph 2 of paragraph (b) of section 6F of chapter 62 is hereby amended by striking out subparagraph (C), as so appearing, and inserting in place thereof the following subparagraph:-
(C) Notwithstanding subparagraphs (A) and (B), in the case of property acquired from a decedent within the meaning of section one thousand and fourteen (b) of the Code, the initial basis of such property shall be determined under section one thousand and fourteen of the Code, without giving any effect to section one thousand and fourteen (f) of the Code and without reference to section one thousand and fourteen (d) of the Code.
SECTION 2. Paragraph (c) of section 6F of chapter 62 is hereby amended by striking out subparagraph (2), as so appearing, and inserting in place thereof the following subparagraph:-
(2) There shall be disregarded any federal adjustment resulting from provisions of the Code that were not applicable in determining Massachusetts gross income at the time such federal adjustments were made, including specifically any increase in basis made under section one thousand and twenty-two (b) or one thousand and twenty-two (c) of the Code.
SECTION 3. This act shall apply with respect to property acquired from decedents dying after December 31, 2009.
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