Sec. 3223. Repeal of rehabilitation credit
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Subpart E of part IV of subchapter A of chapter 1 is amended by striking section 47 (and by striking the item relating to such section in the table of sections for such subpart). Section 170(f)(14)(A) is amended by inserting (as in effect before its repeal by the after Tax Reform Act of 2014 ) section 47 . Section 170(h)(4) is amended— by striking (as defined in section 47(c)(3)(B)) in subparagraph (C)(ii), and by adding at the end the following new subparagraph: The term registered historic district means— any district listed in the National Register, and any district— which is designated under a statute of the appropriate State or local government, if such statute is certified by the Secretary of the Interior to the Secretary as containing criteria which will substantially achieve the purpose of preserving and rehabilitating buildings of historic significance to the district, and which is certified by the Secretary of the Interior to the Secretary as meeting substantially all of the requirements for the listing of districts in the National Register. .
Section 469(i)(3) is amended by striking subparagraph (B). Section 469(i)(6)(B) is amended— by striking in the case of— and all that follows and inserting in the case of any credit determined under section 42 for any taxable year. , and by striking in the heading thereof. , rehabilitation credit, Section 469(k)(1) is amended by striking , or any rehabilitation credit determined under section 47, . Except as provided in paragraph (2), the amendments made by this section shall apply to amounts paid after December 31, 2014.
In the case of qualified rehabilitation expenditures (within the meaning of section 47 of the Internal Revenue Code of 1986 as in effect before its repeal) with respect to any building— acquired by the taxpayer before January 1, 2015, and with respect to which the 24-month period selected by the taxpayer under section 47(c)(1)(C) of such Code begins not later than January 1, 2015, the amendments made by this section shall apply to amounts paid after December 31, 2016.