When Congress enacted the Federal Tax Lien Act of 1966, it sought to conform federal tax lien provisions to the security interest provisions in the Uniform Commercial Code. Notably, the Act did not contain a provision granting a superpriority to purchase money security interests. This Article examines the historical and analytical justifications for the enactment of such a purchase money superpriority. The author then proposes a legislative amendment that would establish the superpriority, and discusses the expected salutory effect of such a change on the interpretation and application of the Federal Tax Lien Act.
Patricia Nassif Fetzer,
The Purchase Money Security Interest and Federal Tax Lien: A Proposal for Legislative Change,
36 Hastings L.J. 873
Available at: https://repository.uchastings.edu/hastings_law_journal/vol36/iss6/2