“(W) A project is explained During this subparagraph if it is a joint use and development undertaking which includes an integrated hotel, Conference Centre, office, similar retail services and public mass transportation terminal, and car or truck parking amenities which satisfies the subsequent conditions: “(i) is created in specified air Room legal rights and upon actual residence exchanged for these kinds of joint use and growth venture which can be owned or acquired by a point out department of transportation, a regional mass transit district in a county by using a population of at least five,000,000 and also a Neighborhood redevelopment agency;
(D) Extra depreciation may very well be claimed just once If this paragraph relates to any specified plant, these specified plant shall not be treated as skilled property while in the taxable yr where placed in assistance.
“(II) which was leased within just 3 months following such assets was positioned in service because of the lessee, and
(ii) a greater part in the board of directors of these corporation will not be chosen by The us or any Condition or political subdivision thereof.
“(10) For the lessor only: If your lessor is actually a partnership or possibly a grantor belief, the name, deal with, and taxpayer determining range of the companions or the beneficiaries, and the district director’s Workplace with which the earnings tax return of every lover or beneficiary is filed; and
(ii) an interconnection by using a transmission pipeline for which a certification being an interstate transmission pipeline has long been issued from the Federal Power Regulatory Commission,
(D) Deduction authorized in computing minimum tax For uses of analyzing substitute minimal taxable earnings below segment fifty five, the deduction underneath subsection (a) for skilled reuse and recycling assets shall be decided beneath this portion with no regard to any adjustment below segment fifty six.
“If, from the terms from the applicable level get past entered ahead of the date of the enactment of the Act [Aug. 13, 1981] by a regulatory Fee possessing correct jurisdiction, a regulated general public utility would (but for this provision) fall short to meet the requirements of area 168(e)(three) of the Internal Income Code of 1986 [formerly I.R.C. 1954] with respect to residence for the reason that, for an accounting interval ending just after December 31, 1980, these community utility employed a technique of accounting in addition to a normalization approach to accounting, these types of regulated public utility shall not fall short to satisfy this kind of needs if, with the phrases of its 1st amount order figuring out cost of service with regard to these assets which gets effective following the day with the enactment of this Act and on or right before January 1, 1983, such controlled community utility makes use of a normalization means of accounting.
(seven) Coordination with nonrevenue legislation Any reference With this subsection to some provision not contained In this particular title shall be dealt with rico168 for functions of the subsection to be a reference to this sort of provision as in impact on the date on the enactment of the paragraph.
(k) Specific allowance for specific assets (one) Additional allowanceIn the situation of any experienced property— (A) the depreciation deduction supplied by area 167(a) for your taxable year by which these types of house is placed in provider shall contain an allowance equivalent for the applicable share with the modified basis with the competent residence, and
“(E) Cure of specific historic constructions.—If— “(i) on June sixteen, 1982, the legislative physique on the local governmental device adopted a bond ordinance to supply cash to renovate elevators inside of a deteriorating creating owned via the neighborhood governmental device and stated in the National Sign up, and
(B) switching towards the straight line method with the 1st taxable 12 months for which utilizing the straight line process with regard towards the altered basis as of the start of this sort of year will produce a larger allowance.
“(III) with respect to which the modified foundation from the lessor isn't going to exceed the altered basis from the lessee at time with the lease, or
For reasons of the subparagraph, the time period ‘qualified container devices’ usually means any container, container chassis, or container trailer of the U.s. human being with a existing class lifetime of not over six a long time.