“(ii) will be to be produced on the platform utilizing air rights around land acquired by a Point out authority and determined as web-site B in a very report dated May well thirty, 1984, well prepared for any State city progress corporation; and
(B) Allocation of bond proceeds For reasons of subparagraph (A), the proceeds of any obligation shall be taken care of as utilized to finance residence obtained in reference to the issuance of this sort of obligation within the purchase in which this kind of home is positioned in service.
“(F) Property is described During this subparagraph if these property is often a fraternity house connected with a College with regard to which— “(i) in August 1982, the university retained Lawyers to recommend the university regarding the rehabilitation on the house;
“(L) House is described in this subparagraph if these types of assets is used by a tax-exempt entity, and— “(i) these types of use is pursuant to the lease that has a taxpayer which positioned substantial enhancements in services;
For applications on the preceding sentence, any exclusion or exemption shall not make an application for purposes of analyzing the amount of the gross earnings so derived, but shall submit an application for reasons of figuring out the percentage of this sort of gross money topic to tax below this chapter.
“(i) Money from home matter to U.s. tax.—Clause (iii) of subparagraph (A) shall not use with regard to any property if more than 50 per cent of the gross earnings for that taxable year derived through the foreign particular person or entity from using this kind of home is—
shall be taken care of for purposes of analyzing obtain or reduction beneath this title as disposed of by the lessor when so disposed of or abandoned.
“(iii) the undertaking is carried out by a Maine Company and involves the modernization of pulp and paper mills in Millinocket and/or East Millinocket, Maine, or
(B) for your 1st taxable calendar year for which a depreciation deduction would be allowable with regard to such property inside the fingers in the taxpayer, the property rico168 is appropriately depreciated beneath the unit-of-manufacturing approach or any way of depreciation not expressed within a phrase of many years (other than the retirement-substitution-betterment method or similar process).
“(ii) which utilizes the assets subject towards the arrangement to manufacture and produce within The usa a category of merchandise within an marketplace with respect to which— “(I) the taxpayer created fewer than 5 percent of the full amount of units (or benefit) of these merchandise throughout the interval covering the a few most recent taxable decades in the taxpayer ending right before July one, 1982, and
(D) Determination of no matter if assets Employed in unrelated trade or company For needs of the subsection, in the situation of any property that is owned by a partnership which has the two a tax-exempt entity plus a individual who is just not a tax-exempt entity as companions, the willpower of whether these assets is Utilized in an unrelated trade or organization of these kinds of an entity shall be created with no regard to portion 514.
the President may well by Govt get provide for the application of paragraph (1)(D) to any report or course of content created or manufactured in these kinds of overseas place for these period of time as can be supplied by these types of Government purchase.
“(ii) the agreement selling price for such units and tools signifies not less than fifty % of the overall expense of this kind of task.
(l) Exclusive allowance for second era biofuel plant residence (one) Further allowanceIn the case of any capable second generation biofuel plant home— (A) the depreciation deduction supplied by portion 167(a) for that taxable calendar year by which such property is placed in assistance shall include an allowance equal to 50 percent from the adjusted basis of this kind of house, and