“(ii) will be to be manufactured over a System making use of air rights above land acquired by a State authority and identified as site B in a report dated May thirty, 1984, organized for just a Condition urban advancement corporation; and
(B) Allocation of bond proceeds For purposes of subparagraph (A), the proceeds of any obligation shall be taken care of as utilized to finance house acquired in reference to the issuance of this kind of obligation during the purchase in which these property is put in assistance.
For reasons of this paragraph, all users of a similar affiliated team of businesses (throughout the that means of area 1504 of the Internal Revenue Code of 1986) submitting a consolidated return shall be addressed as one taxpayer.
“(Y) A undertaking is explained During this subparagraph if this kind of task passes as a result of at the very least 9 States and consists of an intercity interaction link (which includes a number of repeater web-sites and junction stations for microwave transmissions and amplifiers for fiber optics); the connection from Buffalo to New York/Elizabeth was completed in 1984; the website link from Buffalo to Chicago was accomplished in 1985; along with the backlink from The big apple to Washington is concluded in 1986.
these kinds of human being shall not, for reasons of paragraph (two), be addressed as getting positioned these types of property in support in advance of such home is disposed of merely since these person rented this kind of home or held these kinds of residence for rental.
No deduction for depreciation or amortization shall be permitted to this kind of individual with regard to such house,
These types of lessee shall include a securities firm that meets the requirements of subparagraph (A), other than the lessee is obligated to lease the developing below a lease entered into on June eighteen, 1986.
“(E) Residence is described In this particular subparagraph if this sort of home is employed by a higher education to be a dormitory, and— “(i) in October 1981, the faculty obtained the residence having a perspective toward renovating the property;
“(ii) the quantity which would be the equilibrium in these kinds of reserve if the level of these reserve have been determined by assuming that the company amount reductions presented On this Act [see Tables for classification] had been in result for all prior periods.
(B) Treatment method of lessor advancements that happen to be deserted at termination of leaseAn advancement— (i) which can be created by the lessor of leased assets for the lessee of this sort of assets, and
(3) Distinctive guidelines for selected higher technological know-how gear (A) Exemption the place lease time period is 5 a long time or fewer For functions of this part, the time period “tax-exempt use property” shall not contain any skilled technological equipment In the event the lease to your tax-exempt entity has a lease term of 5 a long time or a lot less.
(II) and that is with regard towards the house subject matter into the lease or substantially comparable house, and
L. 99–514]. A taxpayer may possibly elect (in these kinds of sort and method since the Secretary on the Treasury rico168 may possibly prescribe) to acquire these amendments implement with respect to any home placed in service before these date and to which such area so applies.”
(J) any property (apart from a vessel or an plane) of the United states of america person which is used in Intercontinental or territorial waters inside the northern part of the Western Hemisphere for the objective of Discovering for, building, removing, or transporting means from ocean waters or deposits underneath such waters;