; and (3) by striking calendar year 1997 and inserting calendar year 2018 in subparagraph (B). (c) Effective date The amendments made by this section shall apply to estates of decedents dying, and gifts made, after December 31, 2019. 4. Modification of estate tax rules with respect to land subject to conservation easements (a) Modification of exclusion limitation Subparagraph (B) of section 2031(c)(1) of the Internal Revenue Code of 1986 is amended by striking $500,000 and inserting $2,000,000 . (b) Modification of applicable percentage Paragraph (2) of section 2031(c) of the Internal Revenue Code of 1986 is amended by striking 40 percent and inserting 60 percent . (c) Effective date The amendments made by this section shall apply to estates of decedents dying, and gifts made, after December 31, 2019. 5. Consistent basis reporting for property acquired by gifts and transfers in trust (a) Consistent use of basis Section 1015 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: (f) Basis must be consistent with gift tax return (1) In general The basis of any property to which this section applies shall not exceed— (A) in the case of property the final value of which has been determined for purposes of the tax imposed by chapter 12 on the donor of such property, such value, and (B) in the case of property not described in subparagraph (A) and with respect to which a statement has been furnished under section 6035(b) identifying the value of such property, such value. (2) Determination For purposes of paragraph (1), the basis of property has been determined for purposes of the tax imposed by chapter 12 if— (A) the value of such property is shown on a return under section 6019 and such value is not contested by the Secretary before the expiration of the time for assessing a tax under chapter 12, (B) in a case not described in subparagraph (A), the value is specified by the Secretary and such value is not timely contested by the donor of such property, or (C) the value is