Sec. 135303. Modification of definition of substantially rehabilitated
61 words·~1 min read·
/bill/117/hr/5376/rh/section-135303·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 47(c)(1)(B)(i)(I) is amended by inserting 50 percent of before the adjusted basis . The amendment made by subsection
(a)shall apply to determinations with respect to 24-month periods (referred to in clause
(i)of section 47(c)(1)(B) of the Internal Revenue Code of 1986) and 60-month periods (referred to in clause
(ii)of such section) which end after December 31, 2021.