(iii) Buildings which involve do the job spaceAn enclosure or construction which provides get the job done Place shall be handled as just one purpose agricultural or horticultural composition only if this sort of operate Room is only for— (I) the stocking, caring for, or collecting of livestock or crops (as the case might be) or their deliver,
(B) Allocation of bond proceeds For purposes of subparagraph (A), the proceeds of any obligation shall be addressed as utilized to finance assets acquired in reference to the issuance of such obligation within the order during which such assets is put in company.
“The amendments produced by this subsection [amending this area] shall implement to assets placed in service from the transferee immediately after December 31, 1985, in taxable years ending after this kind of day.”
“(L) Home is explained On this subparagraph if this kind of assets is used by a tax-exempt entity, and— “(i) these use is pursuant to some lease that has a taxpayer which positioned substantial improvements in services;
“(two) Exception.— The amendments produced by this segment [amending this portion] shall not use to any assets with regard to which the taxpayer or simply a connected occasion has entered right into a binding contract for the development thereof on or prior to April eleven, 2005, or, in the situation of self-built home, has started out building on or before this sort of day.”
“(I) to be created higher than a public railroad station used from the nationwide railroad passenger Company and commuter railroads serving two States; and
“(B) with regard to wages for which the taxpayer claimed the many benefits of segment 45A of these Code for just a taxable year on the return filed in advance of March eighteen, 1997, but provided that such return was the initial return of tax filed for these kinds of taxable calendar year.”
“If, because of the conditions of the relevant rate purchase very last entered ahead of the day in the enactment of this Act [Aug. 13, 1981] by a regulatory commission getting suitable jurisdiction, a regulated public utility would (but for this provision) fail to satisfy the necessities of area 168(e)(3) of The inner Profits Code of 1986 [formerly I.R.C. 1954] with respect to home since, for an accounting period ending following December 31, 1980, this kind of community utility used a technique of accounting other than a normalization way of accounting, this sort of controlled public utility shall not are unsuccessful to meet these types of needs if, because of the phrases of its first level purchase determining expense of provider with respect to this sort of residence which turns into successful once the date of the enactment of the Act and on or right before January 1, 1983, such regulated community utility works by using a normalization approach to accounting.
“(2) The district director’s Office environment with which the money tax returns of your lessor and lessee are submitted;
“(seven) Whether the ACRS deductions and the investment tax credit history are allowable to a similar taxpayer;
(D) Willpower of no matter if property Utilized in unrelated trade or business enterprise For needs of the subsection, in the situation of any residence which can be owned by a partnership which has both equally a tax-exempt entity along with a person who is not really a tax-exempt entity as partners, the dedication of irrespective of whether these types of home is Employed in rico168 an unrelated trade or company of this sort of an entity shall be designed devoid of regard to portion 514.
“(ii) Major expenditures.— In the situation of facilities the first utilization of which commences Using the taxpayer and with regard to which considerable expenses are made before January one, 1983, the amendments created by this segment shall not apply with respect to this sort of facilities to your extent this kind of services are financed by the proceeds of an obligation issued solely to refund Yet another obligation which was issued right before July one, 1982.
“(G) Property is described In this particular subparagraph if these property is leased to some retirement Local community with regard to which— “(i) on January five, 1977, a certification of incorporation was submitted with the appropriate authority from the condition where the retirement Group is located; and
(iii) Election out If a taxpayer helps make an election less than this clause with respect to any class of residence for any taxable 12 months, this subsection shall not apply to all house in these types of class positioned in assistance throughout these taxable year.