§ 204. ADDITIONAL TRANSITIONAL RULES.
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/usc/title-26/section-204A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Other Transitional Rules.— Urban renovation projects.— In general .— The amendments made by section 201 [amending this section and sections 46, 167, 178, 179, 280F, 291, 312, 465, 467, 514, 751, 1245, 4162, 6111, and 7701 of this title] shall not apply to any property which is an integral part of any qualified urban renovation project. Qualified urban renovation project .— For purposes of subparagraph (A), the term ‘qualified urban renovation project’ means any project— described in subparagraph (C), (D), (E), or
(G)which before March 1, 1986 , was publicly announced by a political subdivision of a State for a renovation of an urban area within its jurisdiction, described in subparagraph (C),
(D)or
(G)which before March 1, 1986 , was identified as a single unitary project in the internal financing plans of the primary developer of the project, described in subparagraph
(C)or (D), which is not substantially modified on or after March 1, 1986 , and described in subparagraph
(F)or (H). Project where agreement on .— december 19, 1984 A project is described in this subparagraph if— a political subdivision granted on July 11, 1985 , development rights to the primary developer-purchaser of such project, and such project was the subject of a development agreement between a political subdivision and a bridge authority on December 19, 1984 . For purposes of this subparagraph, section 203(b)(2) shall be applied by substituting ‘ January 1, 1994 ’ for ‘ January 1, 1991 ’ each place it appears. Certain additional projects .— A project is described in this subparagraph if it is described in any of the following clauses of this subparagraph and the primary developer of all such projects is the same person: A project is described in this clause if the development agreement with respect thereto was entered into during April 1984 and the estimated cost of the project is approximately $194,000,000. A project is described in this clause if the development agreement with respect thereto was entered into during May 1984 and the estimated cost of the project is approximately $190,000,000. A project is described in this clause if the project has an estimated cost of approximately $92,000,000 and at least $7,000,000 was spent before September 26, 1985 , with respect to such project. A project is described in this clause if the estimated project cost is approximately $39,000,000 and at least $2,000,000 of construction cost for such project were incurred before September 26, 1985 . A project is described in this clause if the development agreement with respect thereto was entered into before September 26, 1985 , and the estimated cost of the project is approximately $150,000,000. A project is described in this clause if the board of directors of the primary developer approved such project in December 1982, and the estimated cost of such project is approximately $107,000,000. A project is described in this clause if the board of directors of the primary developer approved such project in December 1982, and the estimated cost of such project is approximately $59,000,000. A project is described in this clause if the Board of Directors of the primary developer approved such project in December 1983, following selection of the developer by a city council on September 26, 1983 , and the estimated cost of such project is approximately $107,000,000. Project where plan confirmed on .— october 4, 1984 A project is described in this subparagraph if— a State or an agency, instrumentality, or political subdivision thereof approved the filing of a general project plan on June 18, 1981 , and on October 4, 1984 , a State or an agency, instrumentality, or political subdivision thereof confirmed such plan, the project plan as confirmed on October 4, 1984 , included construction or renovation of office buildings, a hotel, a trade mart, theaters, and a subway complex, and significant segments of such project were the subject of one or more conditional designations granted by a State or an agency, instrumentality, or political subdivision thereof to one or more developers before January 1, 1985 . The preceding sentence shall apply with respect to a property only to the extent that a building on such property site was identified as part of the project plan before September 26, 1985 , and only to the extent that the size of the building on such property site was not substantially increased by reason of a modification to the project plan with respect to such property on or after such date. For purposes of this subparagraph, section 203(b)(2) shall be applied by substituting ‘ January 1, 1998 ’ for ‘ January 1, 1991 ’ each place it appears. A project is described in this subparagraph if it is a sports and entertainment facility which— is to be used by both a National Hockey League team and a National Basketball Association team; is to be constructed on a platform utilizing air rights over land acquired by a State authority and identified as site B in a report dated May 30, 1984 , prepared for a State urban development corporation; and is eligible for real property tax, and power and energy benefits pursuant to the provisions of State legislation approved and effective July 7, 1982 . A project is also described in this subparagraph if it is a mixed-use development which is— to be constructed above a public railroad station utilized by the national railroad passenger corporation and commuter railroads serving two States; and will include the reconstruction of such station so as to make it a more efficient transportation center and to better integrate the station with the development above, such reconstruction plans to be prepared in cooperation with a State transportation authority. For purposes of this subparagraph, section 203(b)(2) shall be applied by substituting ‘ January 1, 1998 ’ for the applicable date that would otherwise apply. A project is described in this subparagraph if— an inducement resolution was passed on March 9, 1984 , for the issuance of obligations with respect to such project, such resolution was extended by resolutions passed on August 14, 1984 , April 2, 1985 , August 13, 1985 , and July 8, 1986 , an application was submitted on January 31, 1984 , for an Urban Development Action Grant with respect to such project, and an Urban Development Action Grant was preliminarily approved for all or part of such project on July 3, 1986 . A project is described in this subparagraph if it is a redevelopment project, with respect to which $10,000,000 in industrial revenue bonds were approved by a State Development Finance Authority on January 15, 1986 , a village transferred approximately $4,000,000 of bond volume authority to the State in June 1986, and a binding Redevelopment Agreement was executed between a city and the development team on June 30, 1986 . Certain projects granted ferc licenses, etc .— The amendments made by section 201 [amending this section and sections 46, 167, 178, 179, 280F, 291, 312, 465, 467, 514, 751, 1245, 4162, 6111, and 7701 of this title] shall not apply to any property which is part of a project— which is certified by the Federal Energy Regulatory Commission before March 2, 1986 , as a qualifying facility for purposes of the Public Utility Regulatory Policies Act of 1978 [see Short Title note set out under 16 U.S.C. 2601 ], which was granted before March 2, 1986 , a hydroelectric license for such project by the Federal Energy Regulatory Commission, or which is a hydroelectric project of less than 80 megawatts that filed an application for a permit, exemption, or license with the Federal Energy Regulatory Commission before March 2, 1986 . Supply or service contracts .— The amendments made by section 201 shall not apply to any property which is readily identifiable with and necessary to carry out a written supply or service contract, or agreement to lease, which was binding on March 1, 1986 . Property treated under prior tax acts .— The amendments made by section 201 shall not apply— to property described in section 12(c)(2) (as amended by the Technical and Miscellaneous Revenue Act of 1988), 31(g)(5), or 31(g)(17)(J) of the Tax Reform Act of 1984 [sections 12(c)(2) and 31(g)(5), (17)(J) of Pub. L. 98–369 , set out below], to property described in section 209(d)(1)(B) of the Tax Equity and Fiscal Responsibility Act of 1982, as amended by the Tax Reform Act of 1984 [ section 209(d)(1)(B) of Pub. L. 97–248 , as amended, set out below], and to property described in section 216(b)(3) of the Tax Equity and Fiscal Responsibility Act of 1982 [ section 216(b)(3) of Pub. L. 97–248 , set out below]. Special rules for property included in master plans of integrated projects .— The amendments made by section 201 shall not apply to any property placed in service pursuant to a master plan which is clearly identifiable as of March 1, 1986 , for any project described in any of the following subparagraphs of this paragraph: A project is described in this subparagraph if— the project involves production platforms for offshore drilling, oil and gas pipeline to shore, process and storage facilities, and a marine terminal, and at least $900,000,000 of the costs of such project were incurred before September 26, 1985 . A project is described in this subparagraph if— such project involves a fiber optic network of at least 20,000 miles, and before September 26, 1985 , construction commenced pursuant to the master plan and at least $85,000,000 was spent on construction. A project is described in this subparagraph if— such project passes through at least 10 States and involves intercity communication links (including one or more repeater sites, terminals and junction stations for microwave transmissions, regenerators or fiber optics and other related equipment), the lesser of $150,000,000 or 5 percent of the total project cost has been expended, incurred, or committed before March 2, 1986 , by one or more taxpayers each of which is a member of the same affiliated group (as defined in section 1504(a) [of the Internal Revenue Code of 1986]), and such project consists of a comprehensive plan for meeting network capacity requirements as encompassed within either: a November 5, 1985 , presentation made to and accepted by the Chairman of the Board and the president of the taxpayer, or the approvals by the Board of Directors of the parent company of the taxpayer on May 3, 1985 , and September 22, 1985 , and of the executive committee of said board on December 23, 1985 . A project is described in this subparagraph if— such project is part of a flat rolled product modernization plan which was initially presented to the Board of Directors of the taxpayer on July 8, 1983 , such program will be carried out at 3 locations, and such project will involve a total estimated minimum capital cost of at least $250,000,000. A project is described in this subparagraph if the project is being carried out by a corporation engaged in the production of paint, chemicals, fiberglass, and glass, and if— the project includes a production line which applies a thin coating to glass in the manufacture of energy efficient residential products, if approved by the management committee of the corporation on January 29, 1986 , the project is a turbogenerator which was approved by the president of such corporation and at least $1,000,000 of the cost of which was incurred or committed before such date, the project is a waste-to-energy disposal system which was initially approved by the management committee of the corporation on March 29, 1982 , and at least $5,000,000 of the cost of which was incurred before September 26, 1985 , the project, which involves the expansion of an existing service facility and the addition of new lab facilities needed to accommodate topcoat and undercoat production needs of a nearby automotive assembly plant, was approved by the corporation’s management committee on March 5, 1986 , or the project is part of a facility to consolidate and modernize the silica production of such corporation and the project was approved by the president of such corporation on August 19, 1985 . A project is described in this subparagraph if— such project involves a port terminal and oil pipeline extending generally from the area of Los Angeles, California, to the area of Midland, Texas, and before September 26, 1985 , there is a binding contract for dredging and channeling with respect thereto and a management contract with a construction manager for such project. A project is described in this subparagraph if— the project is a newspaper printing and distribution plant project with respect to which a contract for the purchase of 8 printing press units and related equipment to be installed in a single press line was entered into on January 8, 1985 , and the contract price for such units and equipment represents at least 50 percent of the total cost of such project. A project is described in this subparagraph if it is the second phase of a project involving direct current transmission lines spanning approximately 190 miles from the United States-Canadian border to Ayer, Massachusetts, alternating current transmission lines in Massachusetts from Ayers to Millbury to West Medway, DC–AC converted terminals to Monroe, New Hampshire, and Ayer, Massachusetts, and other related equipment and facilities. A project is described in this subparagraph if it involves not more than two natural gas-fired combined cycle electric generating units each having a net electrical capability of approximately 233 megawatts, and a sales contract for approximately one-half of the output of the 1st unit was entered into in December 1985. A project is described in this subparagraph if— the project involves an automobile manufacturing facility (including equipment and incidental appurtenances) to be located in the United States, and either— the project was the subject of a memorandum of understanding between 2 automobile manufacturers that was signed before September 25, 1985 , the automobile manufacturing facility (including equipment and incidental appurtenances) will involve a total estimated cost of approximately $750,000,000, and will have an annual production capacity of approximately 240,000 vehicles or the Board of Directors of an automobile manufacturer approved a written plan for the conversion of existing facilities to produce new models of a vehicle not currently produced in the United States, such facilities will be placed in service by July 1, 1987 , and such Board action occurred in July 1985 with respect to a $602,000,000 expenditure, a $438,000,000 expenditure, and a $321,000,000 expenditure. A project is described in this subparagraph if— the project involves a joint venture between a utility company and a paper company for a supercalendered paper mill, and at least $50,000,000 was incurred or committed with respect to such project before March 1, 1986 , or the project involves a paper mill for the manufacture of newsprint (including a cogeneration facility) is generally based on a written design and feasibility study that was completed on December 15, 1981 , and will be placed in service before January 1, 1991 , or the project is undertaken by a Maine corporation and involves the modernization of pulp and paper mills in Millinocket and/or East Millinocket, Maine, or the project involves the installation of a paper machine for production of coated publication papers, the modernization of a pulp mill, and the installation of machinery and equipment with respect to related processes, as of December 31, 1985 , in excess of $50,000,000 was incurred for the project, as of July 1986, in excess of $150,000,000 was incurred for the project, and the project is located in Pine Bluff, Arkansas, or the project involves property of a type described in ADR classes 26.1, 26.2, 25, 00.3 and 00.4 included in a paper plant which will manufacture and distribute tissue, towel or napkin products; is located in Effingham County, Georgia; and is generally based upon a written General Description which was submitted to the Georgia Department of Revenue on or about June 13, 1985 . A project is described in this subparagraph if— a letter of intent with respect to such project was executed on June 4, 1985 , and a 5-percent downpayment was made in connection with such project for 2 10-unit press lines and related equipment. A project is described in this subparagraph if— the project involves the retrofit of ammonia plants, as of March 1, 1986 , more than $390,000 had been expended for engineering and equipment, and more than $170,000 was expensed in 1985 as a portion of preliminary engineering expense. A project is described in this subparagraph if the project involves bulkhead intermodal flat cars which are placed in service before January 1, 1987 , and either— more than $2,290,000 of expenditures were made before March 1, 1986 , with respect to a project involving up to 300 platforms, or more than $95,000 of expenditures were made before March 1, 1986 , with respect to a project involving up to 850 platforms. A project is described in this subparagraph if— the project involves the production and transportation of oil and gas from a well located north of the Arctic Circle, and more than $200,000,000 of cost had been incurred or committed before September 26, 1985 . A project is described in this subparagraph if— a commitment letter was entered into with a financial institution on January 23, 1986 , for the financing of the project, the project involves intercity communication links (including microwave and fiber optics communications systems and related property), the project consists of communications links between— Omaha, Nebraska, and Council Bluffs, Iowa, Waterloo, Iowa and Sioux City, Iowa, Davenport, Iowa and Springfield, Illinois, and the estimated cost of such project is approximately $13,000,000. A project is described in this subparagraph if— such project is a mining modernization project involving mining, transport, and milling operations, before September 26, 1985 , at least $20,000,000 was expended for engineering studies which were approved by the Board of Directors of the taxpayer on January 27, 1983 , and such project will involve a total estimated minimum cost of $350,000,000. A project is described in this subparagraph if— such project is a dragline acquired in connection with a 3-stage program which began in 1980 to increase production from a coal mine, at least $35,000,000 was spent before September 26, 1985 , on the 1st 2 stages of the program, and at least $4,000,000 was spent to prepare the mine site for the dragline. A project is described in this subparagraph if—it is a project consisting of a mineral processing facility using a heap leaching system (including waste dumps, low-grade dumps, a leaching area, and mine roads) and if— convertible subordinated debentures were issued in August 1985, to finance the project, construction of the project was authorized by the Board of Directors of the taxpayer on or before December 31, 1985 , at least $750,000 was paid or incurred with respect to the project on or before December 31, 1985 , and the project is placed in service on or before December 31, 1986 . A project is described in this subparagraph if it is a plant facility on Alaska’s North Slope which is placed in service before January 1, 1988 , and— the approximate cost of which is $675,000,000, of which approximately $400,000,000 was spent on off-site construction, the approximate cost of which is $445,000,000, of which approximately $400,000,000 was spent on off-site construction and more than 50 percent of the project cost was spent prior to December 31, 1985 , or the approximate cost of which is $375,000,000, of which approximately $260,000,000 was spent on off-site construction. A project is described in this subparagraph if it involves the connecting of existing retail stores in the downtown area of a city to a new covered area, the total project will be 250,000 square feet, a formal Memorandum of Understanding relating to development of the project was executed with the city on July 2, 1986 , and the estimated cost of the project is $18,186,424. A project is described in this subparagraph if it includes a 200,000 square foot office tower, a 200-room hotel, a 300,000 square foot retail center, an 800-space parking facility, the total cost is projected to be $60,000,000, and $1,250,000 was expended with respect to the site before August 25, 1986 . A project is described in this subparagraph if it is a joint use and development project including an integrated hotel, convention center, office, related retail facilities and public mass transportation terminal, and vehicle parking facilities which satisfies the following conditions: is developed within certain air space rights and upon real property exchanged for such joint use and development project which is owned or acquired by a state department of transportation, a regional mass transit district in a county with a population of at least 5,000,000 and a community redevelopment agency; such project affects an existing, approximately 40 acre public mass transportation bus-way terminal facility located adjacent to an interstate highway; a memorandum of understanding with respect to such joint use and development project is executed by a state department of transportation, such a county regional mass transit district and a community redevelopment agency on or before December 31, 1986 , and a major portion of such joint use and development project is placed in service by December 31, 1990 . A project is described in this subparagraph if— it is an $8,000,000 project to provide advanced control technology for adipic acid at a plant, which was authorized by the company’s Board of Directors in October 1985, at December 31, 1985 , $1,400,000 was committed and $400,000 expended with respect to such project, or it is an $8,300,000 project to achieve compliance with State and Federal regulations for particulates emissions, which was authorized by the company’s Board of Directors in December 1985, by March 31, 1986 , $250,000 was committed and $250,000 was expended with respect to such project, or it is a $22,000,000 project for the retrofit of a plant that makes a raw material for aspartame, which was approved in the company’s December 1985 capital budget, if approximately $3,000,000 of the $22,000,000 was spent before August 1, 1986 . A project is described in this subparagraph if such project passes through at least 9 States and involves an intercity communication link (including multiple repeater sites and junction stations for microwave transmissions and amplifiers for fiber optics); the link from Buffalo to New York/Elizabeth was completed in 1984; the link from Buffalo to Chicago was completed in 1985; and the link from New York to Washington is completed in 1986. A project is described in this subparagraph if— such project involves a fiber optic network of at least 475 miles, passing through Minnesota and Wisconsin; and before January 1, 1986 , at least $15,000,000 was expended or committed for electronic equipment or fiber optic cable to be used in constructing the network. Natural gas pipeline .— The amendments made by section 201 [amending sections 46, 167, 168, 178, 179, 280F, 291, 312, 465, 467, 514, 751, 1245, 4162, 6111, and 7701 of this title] shall not apply to any interstate natural gas pipeline (and related equipment) if— 3 applications for the construction of such pipeline were filed with the Federal Energy Regulatory Commission before November 22, 1985 (and 2 of which were filed before September 26, 1985 ), and such pipeline has 1 of its terminal points near Bakersfield, California. Certain leasehold improvements .— The amendments made by section 201 shall not apply to any reasonable leasehold improvements, equipment and furnishings placed in service by a lessee or its affiliates if— the lessee or an affiliate is the original lessee of each building in which such property is to be used, such lessee is obligated to lease the building under an agreement to lease entered into before September 26, 1985 , and such property is provided for such building, and such buildings are to serve as world headquarters of the lessee and its affiliates. For purposes of this paragraph, a corporation is an affiliate of another corporation if both corporations are members of a controlled group of corporations within the meaning of section 1563(a) of the Internal Revenue Code of 1954 without regard to section 1563(b)(2) of such Code. Such lessee shall include a securities firm that meets the requirements of subparagraph (A), except the lessee is obligated to lease the building under a lease entered into on June 18, 1986 . Solid waste disposal facilities .— The amendments made by section 201 [amending sections 46, 167, 168, 178, 179, 280F, 291, 312, 465, 467, 514, 751, 1245, 4162, 6111, and 7701 of this title] shall not apply to the taxpayer who originally places in service any qualified solid waste disposal facility (as defined in section 7701(e)(3)(B) of the Internal Revenue Code of 1986) if before March 2, 1986 — there is a binding written contract between a service recipient and a service provider with respect to the operation of such facility to pay for the services to be provided by such facility, a service recipient or governmental unit (or any entity related to such recipient or unit) made a financial commitment of at least $200,000 for the financing or construction of such facility, such facility is the Tri-Cities Solid Waste Recovery Project involving Fremont, Newark, and Union City, California, and has received an authority to construct from the Environmental Protection Agency or from a State or local agency authorized by the Environmental Protection Agency to issue air quality permits under the Clean Air Act [ 42 U.S.C. 7401 et seq.], a bond volume carryforward election was made for the facility and the facility is for Chattanooga, Knoxville, or Kingsport, Tennessee, or such facility is to serve Haverhill, Massachusetts. Certain submersible drilling units .— In the case of a binding contract entered into on October 30, 1984 , for the purchase of 6 semi-submersible drilling units at a cost of $425,000,000, such units shall be treated as having an applicable date under subsection [section] 203(b)(2) of January 1, 1991 . Wastewater or sewage treatment facility .— The amendments made by section 201 [amending this section and sections 46, 167, 178, 179, 280F, 291, 312, 465, 467, 514, 751, 1245, 4162, 6111, and 7701 of this title] shall not apply to any property which is part of a wastewater or sewage treatment facility if— site preparation for such facility commenced before September 1985, and a parish council approved a service agreement with respect to such facility on December 4, 1985 ; a city-parish advertised in September 1985, for bids for construction of secondary treatment improvements for such facility, in May 1985, the city-parish received statements from 16 firms interested in privatizing the wastewater treatment facilities, and the metropolitan council selected a privatizer at its meeting on November 20, 1985 , and adopted a resolution authorizing the Mayor to enter into contractual negotiation with the selected privatizer; the property is part of a wastewater treatment facility serving Greenville, South Carolina with respect to which a binding service agreement between a privatizer and the Western Carolina Regional Sewer Authority with respect to such facility was signed before January 1, 1986 ; or such property is part of a wastewater treatment facility (located in Cameron County, Texas, within one mile of the City of Harlingen), an application for a wastewater discharge permit was filed with respect to such facility on December 4, 1985 , and a City Commission approved a letter of intent relating to a service agreement with respect to such facility on August 7, 1986 ; or a wastewater facility (located in Harlingen, Texas) which is a subject of such letter of intent and service agreement and the design of which was contracted for in a letter of intent dated January 23, 1986 . Certain aircraft .— The amendments made by section 201 [amending this section and sections 46, 167, 178, 179, 280F, 291, 312, 465, 467, 514, 751, 1245, 4162, 6111, and 7701 of this title] shall not apply to any new aircraft with 19 or fewer passenger seats if— the aircraft is manufactured in the United States. For purposes of this subparagraph, an aircraft is ‘manufactured’ at the point of its final assembly, the aircraft was in inventory or in the planned production schedule of the final assembly manufacturer, with orders placed for the engine(s) on or before August 16, 1986 , and the aircraft is purchased or subject to a binding contract on or before December 31, 1986 , and is delivered and placed in service by the purchaser, before July 1, 1987 . Certain satellites .— The amendments made by section 201 shall not apply to any satellite with respect to which— on or before January 28, 1986 , there was a binding contract to construct or acquire a satellite, and an agreement to launch was in existence on that date, or on or before August 5, 1983 , the Federal Communications Commission had authorized the construction and for which the authorized party has a specific although undesignated agreement to launch in existence on January 28, 1986 ; by order adopted on July 25, 1985 , the Federal Communications Commission granted the taxpayer an orbital slot and authorized the taxpayer to launch and operate 2 satellites with a cost of approximately $300,000,000; or the International Telecommunications Satellite Organization or the International Maritime Satellite Organization entered into written binding contracts before May 1, 1985 . Certain nonwire line cellular telephone systems .— The amendments made by section 201 shall not apply to property that is part of a nonwire line system in the Domestic Public Cellular Radio Telecommunications Service for which the Federal Communications Commission has issued a construction permit before September 26, 1985 , but only if such property is placed in service before January 1, 1987 . Certain cogeneration facilities .— The amendments made by section 201 shall not apply to projects consisting of 1 or more facilities for the cogeneration and distribution of electricity and steam or other forms of thermal energy if— at least $100,000 was paid or incurred with respect to the project before March 1, 1986 , a memorandum of understanding was executed on September 13, 1985 , and the project is placed in service before January 1, 1989 , at least $500,000 was paid or incurred with respect to the projects before May 6, 1986 , the projects involve a 22-megawatt combined cycle gas turbine plant and a 45-megawatt coal waste plant, and applications for qualifying facility status were filed with the Federal Energy Regulatory Commission on March 5, 1986 , the project cost approximates $125,000,000 to $140,000,000 and an application was made to the Federal Energy Regulatory Commission in July 1985, an inducement resolution for such facility was adopted on September 10, 1985 , a development authority was given an inducement date of September 10, 1985 , for a loan not to exceed $80,000,000 with respect to such facility, and such facility is expected to have a capacity of approximately 30 megawatts of electric power and 70,000 pounds of steam per hour, at least $1,000,000 was incurred with respect to the project before May 6, 1986 , the project involves a 52-megawatt combined cycle gas turbine plant and a petition was filed with the Connecticut Department of Public Utility Control to approve a power sales agreement with respect to the project on March 27, 1986 , the project has a planned scheduled capacity of approximately 38,000 kilowatts, the project property is placed in service before January 1, 1991 , and the project is operated, established, or constructed pursuant to certain agreements, the negotiation of which began before 1986, with public or municipal utilities conducting business in Massachusetts, or the Board of Regents of Oklahoma State University took official action on July 25, 1986 , with respect to the project. In the case of the project described in subparagraph (F), section 203(b)(2)(A) shall be applied by substituting ‘ January 1, 1991 ’ for ‘ January 1, 1989 ’. Certain electric generating stations .— The amendments made by section 201 shall not apply to a project located in New Mexico consisting of a coal-fired electric generating station (including multiple generating units, coal mine equipment, and transmission facilities) if— a tax-exempt entity will own an equity interest in all property included in the project (except the coal mine equipment), and at least $72,000,000 was expended in the acquisition of coal leases, land and water rights, engineering studies, and other development costs before May 6, 1986 . For purposes of this paragraph, section 203(b)(2) shall be applied by substituting ‘ January 1, 1996 ’ for ‘ January 1, 1991 ’ each place it appears. Sports arenas.— Indoor sports facility .— The amendments made by section 201 shall not apply to up to $20,000,000 of improvements made by a lessee of any indoor sports facility pursuant to a lease from a State commission granting the right to make limited and specified improvements (including planned seat explanations), if architectural renderings of the project were commissioned and received before December 22, 1985 . Metropolitan sports arena .— The amendments made by section 201 shall not apply to any property which is part of an arena constructed for professional sports activities in a metropolitan area, provided that such arena is capable of seating no less than 18,000 spectators and a binding contract to incur significant expenditures for its construction was entered into before June 1, 1986 . Certain waste-to-energy facilities .— The amendments made by section 201 shall not apply to 2 agricultural waste-to-energy powerplants (and required transmission facilities), in connection with which a contract to sell 100 megawatts of electricity to a city was executed in October 1984. Certain coal-fired plants .— The amendments made by section 201 shall not apply to one of three 540 megawatt coal-fired plants that are placed in service after a sale leaseback occurring after January 1, 1986 , if— the Board of Directors of an electric power cooperation authorized the investigation of a sale leaseback of a nuclear generation facility by resolution dated January 22, 1985 , and a loan was extended by the Rural Electrification Administration on February 20, 1986 , which contained a covenant with respect to used property leasing from unit II. Certain rail systems.— The amendments made by section 201 shall not apply to a light rail transit system, the approximate cost of which is $235,000,000, if, with respect to which, the board of directors of a corporation (formed in September 1984 for the purpose of developing, financing, and operating the system) authorized a $300,000 expenditure for a feasibility study in April 1985. The amendments made by section 201 shall not apply to any project for rehabilitation of regional railroad rights of way and properties including grade crossings which was authorized by the Board of Directors of such company prior to October 1985; and/or was modified, altered or enlarged as a result of termination of company contracts, but approved by said Board of Directors no later than January 30, 1986 , and which is in the public interest, and which is subject to binding contracts or substantive commitments by December 31, 1987 . Certain detergent manufacturing facility .— The amendments made by section 201 shall not apply to a laundry detergent manufacturing facility, the approximate cost of which is $13,200,000, with respect to which a project agreement was fully executed on March 17, 1986 . Certain resource recovery facility .— The amendments made by section 201 shall not apply to any of 3 resource recovery plants, the aggregate cost of which approximates $300,000,000, if an industrial development authority adopted a bond resolution with respect to such facilities on December 17, 1984 , and the projects were approved by the department of commerce of a Commonwealth on December 27, 1984 . The amendments made by section 201 shall not apply to a computer and office support center building in Minneapolis, with respect to which the first contract, with an architecture firm, was signed on April 30, 1985 , and a construction contract was signed on March 12, 1986 . Certain district heating and cooling facilities .— The amendments made by section 201 shall not apply to pipes, mains, and related equipment included in district heating and cooling facilities, with respect to which the development authority of a State approved the project through an inducement resolution adopted on October 8, 1985 , and in connection with which approximately $11,000,000 of tax-exempt bonds are to be issued. Certain vessels.— Certain offshore vessels .— The amendments made by section 201 shall not apply to any offshore vessel the construction contract for which was signed on February 28, 1986 , and the approximate cost of which is $9,000,000. Certain inland river vessel .— The amendments made by section 201 shall not apply to a project involving the reconstruction of an inland river vessel docked on the Mississippi River at St. Louis, Missouri, on July 14, 1986 , and with respect to which: the estimated cost of reconstruction is approximately $39,000,000; reconstruction was commenced prior to December 1, 1985 ; at least $17,000,000 was expended before December 31, 1985 ; and Special automobile carrier vessels .— The amendments made by section 201 shall not apply to two new automobile carrier vessels which will cost approximately $47,000,000 and will be constructed by a United States-flag carrier to operate, under the United States-flag and with an American crew, to transport foreign automobiles to the United States, in a case where negotiations for such transportation arrangements commenced in April 1985, formal contract bids were submitted prior to the end of 1985, and definitive transportation contracts were awarded in May 1986. The amendments made by section 201 shall not apply to a 562-foot passenger cruise ship, which was purchased in 1980 for the purpose of returning the vessel to United States service, the approximate cost of refurbishment of which is approximately $47,000,000. The amendments made by section 201 shall not apply to the Muskegon, Michigan, Cross-Lake Ferry project having a projected cost of approximately $7,200,000. The amendments made by section 201 shall not apply to a new automobile carrier vessel, the contract price for which is no greater than $28,000,000, and which will be constructed for and placed in service by OSG Car Carriers, Inc., to transport, under the United States flag and with an American crew, foreign automobiles to North America in a case where negotiations for such transportation arrangements commenced in 1985, and definitive transportation contracts were awarded before June 1986. Certain wood energy projects .— The amendments made by section 201 shall not apply to two wood energy projects for which applications with the Federal Energy Regulatory Commission were filed before January 1, 1986 , which are described as follows: a 26.5 megawatt plant in Fresno, California, and a 26.5 megawatt plant in Rocklin, California. The amendments made by section 201 shall not apply to property which is a geothermal project of less than 20 megawatts that was certified by the Federal Energy Regulatory Commission on July 14, 1986 , as a qualifying small power production facility for purposes of the Public Utility Regulatory Policies Act of 1978 [see Short Title note set out under 16 U.S.C. 2601 ] pursuant to an application filed with the Federal Energy Regulatory Commission on April 17, 1986 . Certain economic development projects .— The amendments made by section 201 shall not apply to any of the following projects: A mixed use development on the East River the total cost of which is approximately $400,000,000, with respect to which a letter of intent was executed on January 24, 1984 , and with respect to which approximately $2.5 million had been spent by March 1, 1986 . A 356-room hotel, banquet, and conference facility (including 540,000 square feet of office space) the approximate cost of which is $158,000,000, with respect to which a letter of intent was executed on June 1, 1984 , and with respect to which an inducement resolution and bond resolution was adopted on August 20, 1985 . Phase 1 of a 4-phase project involving the construction of laboratory space and ground-floor retail space the estimated cost of which is $22,000,000 and with respect to which a memoradum [sic] of understanding was made on August 29, 1983 . A project involving the development of a 490,000 square foot mixed-use building at 152 W. 57th Street, New York, New York, the estimated cost of which is $100,000,000, and with respect to which a building permit application was filed in May 1986. A mixed-use project containing a 300 unit, 12-story hotel, garage, two multi-rise office buildings, and also included a park, renovated riverboat, and barge with festival marketplace, the capital outlays for which approximate $68,000,000. The construction of a three-story office building that will serve as the home office for an insurance group and its affiliated companies, with respect to which a city agreed to transfer its ownership of the land for the project in a Redevelopment Agreement executed on September 18, 1985 , once certain conditions are met. A commercial bank formed under the laws of the State of New York which entered into an agreement on September 5, 1985 , to construct its headquarters at 60 Wall Street, New York, New York, with respect to such headquarters. Any property which is part of a commercial and residential project, the first phase of which is currently under construction, to be developed on land which is the subject of an ordinance passed on July 20, 1981 , by the city council of the city in which such land is located, designating such land and the improvements to be placed thereon as a residential-business planned development, which development is being financed in part by the proceeds of industrial development bonds in the amount of $62,600,000 issued on December 4, 1985 . A 600,000 square foot mixed use building known as Flushing Center with respect to which a letter of intent was executed on March 26, 1986 . In the case of the building described in subparagraph (I), section 203(b)(2)(A) shall be applied by substituting ‘ January 1, 1993 ’ for the applicable date which would otherwise apply. The amendments made by section 201 shall not apply to an $80,000,000 capital project steel seamless tubular casings minimill and melting facility located in Youngstown, Ohio, which was purchased by the taxpayer in April 1985, and— the purchase and renovation of which was approved by a committee of the Board of Directors on February 22, 1985 , and as of December 31, 1985 , more than $20,000,000 was incurred or committed with respect to the renovation. The amendments made by section 201 shall not apply to any project for residential rental property if— an inducement resolution with respect to such project was adopted by the State housing development authority on January 25, 1985 , and such project was the subject of a law suit filed on October 25, 1985 . The amendments made by section 201 shall not apply to a 30 megawatt electric generating facility fueled by geothermal and wood waste, the approximate cost of which is $55,000,000, and with respect to which a 30-year power sales contract was executed on March 22, 1985 . The amendments made by section 201 shall not apply to railroad maintenance-of-way equipment, with respect to which a Boston bank entered into a firm binding contract with a major northeastern railroad before March 2, 1986 , to finance $10,500,000 of such equipment, if all of the equipment was placed in service before August 1, 1986 . The amendment made by section 201 shall not apply to— a facility constructed on approximately seven acres of land located on Ogle’s Poso Creek Oil field, the primary fuel of which will be bituminous coal from Utah or Wyoming, with respect to which an application for an authority to construct was filed on December 26, 1985 , an authority to construct was issued on July 2, 1986 , and a prevention of significant deterioration permit application was submitted in May 1985, a facility constructed on approximately seven acres of land located on Teorco’s Jasmin oil field, the primary fuel of which will be bituminous coal from Utah or Wyoming, with respect to which an authority to construct was filed on December 26, 1985 , an authority to construct was issued on July 2, 1986 , and a prevention of significant deterioration permit application was submitted in July 1985, the Mountain View Apartments, in Hadley, Massachusetts, a facility expected to have a capacity of not less than 65 megawatts of electricity, the steam from which is to be sold to a pulp and paper mill, with respect to which application was made to the Federal Regulatory Commission for certification as a qualified facility on November 1, 1985 , and received such certification on January 24, 1986 , $5,000,000 of equipment ordered in 1986, in connection with a 60,000 square foot plant in Masontown, Pennsylvania, that was completed in 1983, a magnetic resonance imaging machine, with respect to which a binding contract to purchase was entered into in April 1986, in connection with the construction of a magnetic resonance imaging clinic with respect to which a Determination of Need certification was obtained from a State Department of Public Health on October 22, 1985 , if such property is placed in service before December 31, 1986 , a company located in Salina, Kansas, which has been engaged in the construction of highways and city streets since 1946, but only to the extent of $1,410,000 of investment in new section 38 property, a $300,000 project undertaken by a small metal finishing company located in Minneapolis, Minnesota, the first parts of which were received and paid for in January 1986, with respect to which the company received Board approval to purchase the largest piece of machinery it has ever ordered in 1985, A $1,200,000 finishing machine that was purchased on April 2, 1986 and placed into service in September 1986 by a company located in Davenport, Iowa, A 25 megawatt small power production facility, with respect to which Qualifying Facility status numbered QF86–593–000 was granted on March 5, 1986 , A 250 megawatt coal-fired electric plant in northeastern Nevada estimated to cost $600,000,000 and known as the Thousand Springs project, on which the Sierra Pacific Power Company, a subsidiary of Sierra Pacific Resources, began in 1980 work to design, finance, construct, and operate (and section 203(b)(2) shall be applied with respect to such plant by substituting ‘ January 1, 1995 ’ for ‘ January 1, 1991 ’), 128 units of rental housing in connection with the Point Gloria Limited Partnership, property which is part of the Kenosha Downtown Redevelopment Project and which is financed with the proceeds of bonds issued pursuant to section 1317(6)(W) [set out as a note under section 141 of this title ], Lakeland Park Phase II, in Baton Rouge, Louisiana, the Santa Rosa Hotel, in Pensacola, Florida, the Sheraton Baton Rouge, in Baton Rouge, Louisiana, $300,000 of equipment placed in service in 1986, in connection with the renovation of the Best Western Townhouse Convention Center in Cedar Rapids, Iowa, the segment of a nationwide fiber optics telecommunications network placed in service by SouthernNet, the total estimated cost of which is $37,000,000, two cogeneration facilities, to be placed in service by the Reading Anthracite Coal Company (or any subsidiary thereof), costing approximately $110,000,000 each, with respect to which filings were made with the Federal Energy Regulatory Commission by December 31, 1985 , and which are located in Pennsylvania, a portion of a fiber optics network placed in service by LDX NET after December 31, 1988 , but only to the extent the cost of such portion does not exceed $25,000,000, 3 newly constructed fishing vessels, and one vessel that is overhauled, constructed by Mid Coast Marine, but only to the extent of $6,700,000 of investment, $350,000 of equipment acquired in connection with the reopening of a plant in Bristol, Rhode Island, which plant was purchased by Buttonwoods, Ltd., Associates on February 7, 1986 , $4,046,000 of equipment placed in service by Brendle’s Incorporated, acquired in connection with a Distribution Center, a multi-family mixed-use housing project located in a home rule city, the zoning for which was changed to residential business planned development on November 26, 1985 , and with respect to which both the home rule city on December 4, 1985 , and the State housing finance agency on December 20, 1985 , adopted inducement resolutions, the Myrtle Beach Convention Center, in South Carolina, to the extent of $25,000,000 of investment, and railroad cars placed in service by the Pullman Leasing Company, pursuant to an April 3, 1986 purchase order, costing approximately $10,000,000. The amendments made by section 201 [amending this section and sections 46, 167, 178, 179, 280F, 291, 312, 465, 467, 514, 751, 1245, 4162, 6111, and 7701 of this title] shall not apply to— $400,000 of equipment placed in service by Super Key Market, if such equipment is placed in service before January 1, 1987 , the Trolley Square project, the total project cost of which is $24,500,000, and the amount of depreciable real property of which is $14,700,000. a waste-to-energy project in Derry, New Hampshire, costing approximately $60,000,000, and a waste-to-energy project in Manchester, New Hampshire, costing approximately $60,000,000, the City of Los Angeles Co-composting project, the estimated cost of which is $62,000,000, with respect to which, on July 17, 1985 , the California Pollution Control Financing Authority issued an initial resolution in the maximum amount of $75,000,000 to finance this project, the St. Charles, Missouri Mixed-Use Center, Oxford Place in Tulsa, Oklahoma, an amount of investment generating $20,000,000 of investment tax credits attributable to property used on the Illinois Diversatech Campus, $25,000,000 of equipment used in the Melrose Park Engine Plant that is sold and leased back by Navistar, 80,000 vending machines, for a cost approximating $3,400,000 placed into service by Folz Vending Co., A 25.85 megawatt alternative energy facility located in Deblois, Maine, with respect to which certification by the Federal Energy Regulatory Commission was made on April 3, 1986 , Burbank Manors, in Illinois, and a cogeneration facility to be built at a paper company in Turners Falls, Massachusetts, with respect to which a letter of intent was executed on behalf of the paper company on September 26, 1985 . Certain trucks, etc .—The amendments made by section 201 shall not apply to trucks, tractor units, and trailers which a privately held truck leasing company headquartered in Des Moines, Iowa, contracted to purchase in September 1985 but only to the extent the aggregate reduction in Federal tax liability by reason of the application of this paragraph does not exceed $8,500,000. The amendments made by section 201 shall not apply to an approximately 240,000 square foot beverage container manufacturing plant located in Batesville, Mississippi, or plant equipment used exclusively on the plant premises if— a 2-year supply contract was signed by the taxpayer and a customer on November 1, 1985 , such contract further obligated the customer to purchase beverage containers for an additional 5-year period if physical signs of construction of the plant are present before September 1986, ground clearing for such plant began before August 1986, and construction is completed, the equipment is installed, and operations are commenced before July 1, 1987 . The amendments made by section 201 shall not apply to any property which is part of the multifamily housing at the Columbia Point Project in Boston, Massachusetts. A project shall be treated as not described in the preceding sentence and as not described in section 252(f)(1)(D) [set out as a note under section 42 of this title ] unless such project includes at substantially all times throughout the compliance period (within the meaning of section 42(i)(1) of the Internal Revenue Code of 1986), a facility which provides health services to the residents of such project for fees commensurate with the ability of such individuals to pay for such services. The amendments made by section 201 shall not apply to any ethanol facility located in Blair, Nebraska, if— in July of 1984 an initial binding construction contract was entered into for such facility, in June of 1986, certain Department of Energy recommended contract changes required a change of contractor, and in September of 1986, a new contract to construct such facility, consistent with such recommended changes, was entered into. The amendments made by section 201 shall not apply to any property which is part of a sewage treatment facility if, prior to January 1, 1986 , the City of Conyers, Georgia, selected a privatizer to construct such facility, received a guaranteed maximum price bid for the construction of such facility, signed a letter of intent and began substantial negotiations of a service agreement with respect to such facility. The amendments made by section 201 shall not apply to— a $28,000,000 wood resource complex for which construction was authorized by the Board of Directors on August 9, 1985 , an electrical cogeneration plant in Bethel, Maine which is to generate 2 megawatts of electricity from the burning of wood residues, with respect to which a contract was entered into on July 10, 1984 , and with respect to which $200,000 of the expected $2,000,000 cost had been committed before June 15, 1986 , a mixed income housing project in Portland, Maine which is known as the Back Bay Tower and which is expected to cost $17,300,000, the Eastman Place project and office building in Rochester, New York, which is projected to cost $20,000,000, with respect to which an inducement resolution was adopted in December 1986, and for which a binding contract of $500,000 was entered into on April 30, 1986 , the Marquis Two project in Atlanta, Georgia which has a total budget of $72,000,000 and the construction phase of which began under a contract entered into on March 26, 1986 , a 166-unit continuing care retirement center in New Orleans, Louisiana, the construction contract for which was signed on February 12, 1986 , and is for a maximum amount not to exceed $8,500,000, the expansion of the capacity of an oil refining facility in Rosemont, Minnesota from 137,000 to 207,000 barrels per day which is expected to be completed by December 31, 1990 , and a project in Ransom, Pennsylvania which will burn coal waste (known as ‘culm’) with an approximate cost of $64,000,000 and for which a certification from the Federal Energy Regulatory Commission was received on March 11, 1986 . The amendments made by section 201 shall not apply to any facility for the manufacture of an improved particle board if a binding contract to purchase such equipment was executed March 3, 1986 , such equipment will be placed in service by January 1, 1988 , and such facility is located in or near Moncure, North Carolina. Special Rule for Certain Property .— The provisions of section 168(f)(8) of the Internal Revenue Code of 1954 (as amended by section 209 of the Tax Equity and Fiscal Responsibility Act of 1982) shall continue to apply to any transaction permitted by reason of section 12(c)(2) of the Tax Reform Act of 1984 or section 209(d)(1)(B) of the Tax Equity and Fiscal Responsibility Act of 1982 (as amended by the Tax Reform Act of 1984) [ section 12(c)(2) of Pub. L. 98–369 and section 209(d)(1)(B) of Pub. L. 97–248 , respectively, set out below]. Applicable Date in Certain Cases.— Section 203(b)(2) shall be applied by substituting ‘ January 1, 1992 ’ for ‘ January 1, 1991 ’ in the following cases. in the case of a 2-unit nuclear powered electric generating plant (and equipment and incidental appurtenances), located in Pennsylvania and constructed pursuant to contracts entered into by the owner operator of the facility before December 31, 1975 , including contracts with the engineer/constructor and the nuclear steam system supplier, such contracts shall be treated as contracts described in section 203(b)(1)(A), a cogeneration facility with respect to which an application with the Federal Energy Regulatory Commission was filed on August 2, 1985 , and approved October 15, 1985 . in the case of a 1,300 megawatt coal-fired steam powered electric generating plant (and related equipment and incidental appurtenances), which the three owners determined in 1984 to convert from nuclear power to coal power and for which more than $600,000,000 had been incurred or committed for construction before September 25, 1985 , except that no investment tax credit will be allowable under section 49(d)(3) added by section 211(a) of this Act [ section 49(d) of this title does not contain a par. (3)] for any qualified progress expenditures made after December 31, 1990 . Section 203(b)(2) shall be applied by substituting ‘ April 1, 1992 ’ for the applicable date that would otherwise apply, in the case of the second unit of a twin steam electric generating facility and related equipment which was granted a certificate of public convenience and necessity by a public service commission prior to January 1, 1982 , if the first unit of the facility was placed in service prior to January 1, 1985 , and before September 26, 1985 , more than $100,000,000 had been expended toward the construction of the second unit. Section 203(b)(2) shall be applied by substituting ‘ January 1, 1990 ,’ (or, in the case of a project described in subparagraph (B), by substituting ‘ April 1, 1992 ’) for the applicable date that would otherwise apply in the case of— new commercial passenger aircraft used by a domestic airline, if a binding contract with respect to such aircraft was entered into on or before April 1, 1986 , and such aircraft has a present class life of 12 years, a pumped storage hydroelectric project with respect to which an application was made to the Federal Energy Regulatory Commission for a license on February 4, 1974 , and license was issued August 1, 1977 , the project number of which is 2740, and a newsprint mill in Pend Oreille county, Washington, costing about $290,000,000. In the case of an aircraft described in subparagraph (A), section 203(b)(1)(A) shall be applied by substituting ‘ April 1, 1986 ’ for ‘ March 1, 1986 ’ and section 49(e)(1)(B) of the Internal Revenue Code of 1986 shall not apply. The amendments made by section 201 [amending this section and sections 46, 167, 178, 179, 280F, 291, 312, 465, 467, 514, 751, 1245, 4162, 6111, and 7701 of this title] shall not apply to a limited amount of the following property or a limited amount of property set forth in a submission before September 16, 1986 , by the following taxpayers: Arena project, Michigan, but only with respect to $78,000,000 of investments. Campbell Soup Company, Pennsylvania, California, North Carolina, Ohio, Maryland, Florida, Nebraska, Michigan, South Carolina, Texas, New Jersey, and Delaware, but only with respect to $9,329,000 of regular investment tax credits. The Southeast Overtown/Park West development, Florida, but only with respect to $200,000,000 of investments. Equipment placed in service and operated by Leggett and Platt before July 1, 1987 , but only with respect to $2,000,000 of regular investment tax credits, and subsections
(c)and
(d)of section 49 of the Internal Revenue Code of 1986 shall not apply to such equipment. East Bank Housing Project. $1,561,215 of investments by Standard Telephone Company. Five aircraft placed in service before January 1, 1987 , by Presidential Air. A rehabilitation project by Ann Arbor Railroad, but only with respect to $2,900,000 of investments. Property that is part of a cogeneration project located in Ada, Michigan, but only with respect to $30,000,000 of investments. Anchor Store Project, Michigan, but only with respect to $21,000,000 of investments. A waste-fired electrical generating facility of Biogen Power, but only with respect to $34,000,000 of investments. $14,000,000 of television transmitting towers placed in service by Media General, Inc., which were subject to binding contracts as of January 21, 1986 , and will be placed in service before January 1, 1988 , Interests of Samuel A. Hardage (whether owned individually or in partnership form). Two aircraft of Mesa Airlines with an aggregate cost of $5,723,484. Yarn-spinning equipment used at Spray Cotton Mills, but only with respect to $3,000,000 of investments. 328 units of low-income housing at Angelus Plaza, but only with respect to $20,500,000 of investments. One aircraft of Continental Aviation Services with a cost of approximately $15,000,000 that was purchased pursuant to a contract entered into during March of 1983 and that is placed in service by December 31, 1988 . Railroad Grading and Tunnel Bores.— In general .— In the case of expenditures for railroad grading and tunnel bores which were incurred by a common carrier by railroad to replace property destroyed in a disaster occurring on or about April 17, 1983 , near Thistle, Utah, such expenditures, to the extent not in excess of $15,000,000, shall be treated as recovery property which is 5-year property under section 168 of the Internal Revenue Code of 1954 (as in effect before the amendments made by this Act) and which is placed in service at the time such expenditures were incurred. Business interruption proceeds .— Business interruption proceeds received for loss of use, revenues, or profits in connection with the disaster described in paragraph
(1)and devoted by the taxpayer described in paragraph
(1)to the construction of replacement track and related grading and tunnel bore expenditures shall be treated as constituting an amount received from the involuntary conversion of property under section 1033(a)(2) of such Code. Effective date .— This subsection shall apply to taxable years ending after April 17, 1983 . Treatment of Certain Disaster Losses.— In general .— In the case of a disaster described in paragraph (2), at the election of the taxpayer, the amendments made by section 201 of this Act [amending this section and sections 46, 167, 178, 179, 280F, 291, 312, 465, 467, 514, 751, 1245, 4162, 6111, and 7701 of this title]— shall not apply to any property placed in service during 1987 or 1988, or shall apply to any property placed in service during 1985 or 1986, which is property to replace property lost, damaged, or destroyed in such disaster. Disaster to which section applies .— This section shall apply to a flood which occurred on November 3 through 7, 1985, and which was declared a natural disaster area by the President of the United States.”
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- Pub. L. 98-369
- Pub. L. 97-248
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§ 204
ADDITIONAL TRANSITIONAL RULES.
Stat.×11
Pub. L.Pub. L. 98-369
Pub. L.Pub. L. 97-248
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