Sec. 90307. Qualification of rehabilitation expenditures for public school buildings for rehabilitation credit
145 words·~1 min read·
/bill/116/hr/2/eh/section-90307A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 47(c)(2)(B)(v) is amended by adding at the end the following new subclause: This clause shall not apply in the case of the rehabilitation of any building which was used as a qualified public educational facility (as defined in section 142(k)(1), determined without regard to subparagraph
(B)thereof) at any time during the 5-year period ending on the date that such rehabilitation begins and which is used as such a facility immediately after such rehabilitation. . Not later than the date which is 5 years after the date of the enactment of this Act, the Secretary of the Treasury, after consultation with the heads of appropriate Federal agencies, shall report to Congress on the effects resulting from the amendment made by subsection (a). The amendment made by this section shall apply to property placed in service after the date of the enactment of this Act.