L. 99–514 applicable to costs incurred after Dec. 31, 1986, in taxable years ending after such date, except as otherwise provided, see section 803(d) of Pub. L. 96–223, § 223(a)(1), to correct an error, and did not involve any change in text. L. 116–94, div. See Effective Date of 1971 Amendment note below. (c)(4)(B) to (D). L. 97–448, § 202(c), amended directory language of Pub. Pub. L. 89–800, § 1(b), inserted provisions covering the treatment of suspension period property, and the elections to be deemed made in connection therewith. any Federal, State, or local government (or any political subdivision, agency, or instrumentality thereof), any organization described in section 501(c) of the, any entity referred to in paragraph (4) of [former] section 54(j) of such Code, or. L. 113–295, set out as a note under section 24 of this title. B, title I, Sec. Pub. Subsec. L. 115–141, § 401(a)(21), substituted “energy property” for “property energy property”. (2) Energy percentage Pub. the energy percentage with respect to such property shall be 30 percent. (c) generally incorporated the concept of “substantial rehabilitation” into par. L. 99–121 substituted “19” for “18”. L. 113–295, div. 2, 1980, 94 Stat. L. 99–514, set out as an Effective Date note under section 263A of this title. Subsec. Pub. (a)(8). L. 109–58, § 1336(d), inserted “except as provided in paragraph (1)(B) or (2)(B) of subsection (d),” before “the energy credit”. (A) the existing $100,000 dollar limitation to $125,000 in 1981 and to $150,000 in 1985 and in subpar. Subsec. L. 97–248, see section 113(c)(2)(C) of Pub. (a)(2)(B)(vi). 2095, provided that: Amendment by section 108(b), (c) of Pub. P, title III, § 303(d), American Recovery and Reinvestment Act of 2009, Pub. 1594, as amended by Pub. (a)(5)(C)(ii). Pub. (a)(5)(B)(ii). 241, provided that: Pub. (D) provided that rehabilitation included reconstruction, and striking out former subpar. 2372, provided that: Pub. (a)(7) to (9). the amendment made by paragraph (1) shall apply to periods after December 31, 1979, under rules similar to the rules of section 48(m) of the Internal Revenue Code of 1986. Amendment by section 111(e)(8) of Pub. Pub. (a)(4)(D) and (b), is the date of enactment of Pub. L. 115–141, § 401(a)(350)(A), inserted “(January 1, 2020, in the case of any facility which is described in paragraph (1) of section 45(d))” before “, and”. 2007—Subsec. L. 100–647, set out as a note under section 861 of this title. Pub. L. 114–113, div. Pub. Subsec. L. 116–94 effective on Jan. 1, 2018, see section 127(d) of Pub. (a)(1)(B)(ii), (iii). L. 109–58, § 1337(b), added cl. Pub. L. 113–295, § 209(d), inserted “or alternative minimum taxable income” after “includible in the gross income”. Form 3468 may be used to claim the ITC Subsec. L. 100–647, § 1002(a)(14)(G), amended subpar. Pub. (C) as (B). Pub. (l)(16)(B)(i). (8). 2014—Subsec. (M) and redesignated former subpar. Pub. (l)(3)(B). (c)(3)(B). D, title I, § 40411(g), Feb. 9, 2018, 132 Stat. Pub. 2914, provided that: Amendment by Pub. (II), substituted “holding period of the building” for “holding period of the property” and inserted provision that, for purposes of the preceding sentence, the determination of the beginning of the holding period shall be made without regard to any reconstruction by the taxpayer in connection with the rehabilitation. (s)(9). B, title I, § 1603, Feb. 17, 2009, 123 Stat. L. 92–178, set out as a note under section 46 of this title. Subsecs. L. 97–354, § 5(a)(7), struck out subsec. (d)(3)(A). Pub. (4) without change. Amendment by Pub. (g) would not apply with respect to such property, and deductions otherwise allowable under section 162 to the lessee for amounts paid the lessor would be adjusted consistent with subsec. (1)(D) without change, substituted “December 31, 1981” for “October 31, 1978” in provisions of par. (c). (5). (l)(7). Pub. Pub. L. 109–58, § 1337(a), reenacted heading without change and amended text of subpar. 2342, provided that: [Pub. Limitation on credit for qualified investment tax credit ; Latest version. (2) and (4), incorporated provisions of former second, third, and fourth sentences in provisions designated as par. (ii) and added cl. L. 97–354, see section 721(y)(1) of Pub. (a)(10)(B). Subsec. L. 98–369 effective as if included in the provision of the Tax Equity and Fiscal Responsibility Act of 1982, Pub. L. 95–600, § 141(b), added subsec. Pub. (ii) redesignated (iii) relating to equipment used to produce, distribute, or use energy derived from a geothermal deposit. Pub. (c)(2)(A). (II), and, in provisions following subcl. (l). (E). Pub. L. 96–222, title I, § 108(c)(7), Apr. (s), relating to cross reference, as (t). L. 99–514, to which such amendment relates, see section 1019(a) of Pub. L. 111–5, which is set out as a note below. — For the purpose of applying the provisions of section 48(l)(11) of such Code in the case of property financed in whole or in part by subsidized energy financing (within the meaning of section 48(l)(11)(C) of such Code), no financing made before January 1, 1980, shall be taken into account. the numerator of which is that portion of the basis of the property which is allocable to such financing or proceeds, and. Pub. L. 95–600, § 703(a)(4), substituted “section 57(c)(1)(B)” for “section 57(c)(2)”. (5) of subsec. L. 115–123, § 40411(a), substituted “property the construction of which begins before January 1, 2022” for “periods ending before January 1, 2017”. Pub. “(ii) property described in section 48(l)(4)(C) of such Code (relating to solar process heat), “(iii) property described in section 48(l)(5)(L) of such Code (relating to alumina electrolytic cells), and. L. 114–113, set out as a note under section 45 of this title. (11) read as follows: “In the case of property which is financed in whole or in part by the proceeds of an industrial development bond (within the meaning of section 103(b)(2)) the interest on which is exempt from tax under section 103, the energy percentage shall be one-half of the energy percentage determined under section 46(a)(2)(C).”. any partnership or other pass-thru entity any partner (or other holder of an equity or profits interest) of which is described in paragraph (1), (2) or (3). L. 99–514 applicable to taxable years beginning after Dec. 31, 1986, with certain exceptions and qualifications, see section 1277 of Pub. 1,500 ” for “ or is operated under contract with the taxpayer having an option to elect retroactive application amendment... 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