“(W) A challenge is explained With this subparagraph if it is a joint use and growth project which includes an integrated lodge, Conference Middle, office, connected retail amenities and public mass transportation terminal, and automobile parking amenities which satisfies the subsequent circumstances: “(i) is formulated within specific air Place legal rights and on real home exchanged for these joint use and development venture that's owned or obtained by a condition Section of transportation, a regional mass transit district inside of a county with a population of at the very least 5,000,000 plus a Local community redevelopment agency;
“(O) A job is explained With this subparagraph if— “(i) the venture requires the creation and transportation of oil and gasoline from the perfectly Positioned north of your Arctic Circle, and
(ii) every other plant that will have more than one crop or yield of fruits or nuts and which usually has a pre-successful duration of over two yrs through the time of planting or grafting to time at which such plant commences bearing a marketable crop or produce of fruits or nuts.
(ii) a vast majority of your board of directors of this kind of Company just isn't picked by The us or any Point out or political subdivision thereof.
“(I) Home is described Within this subparagraph if this kind of home is used by a College to be a high-quality arts Heart plus the Board of Trustees of these university authorized the sale-leaseback settlement with regard to these kinds of home on March 7, 1984.
the lessor or lessee shall be addressed as possessing filed a timely return if a return is filed inside of an inexpensive time following the failure is ascertained.
(ii) if the amount allowable being a deduction underneath this portion with regard to such property (respecting all elections made by the taxpayer below this segment) differs from the amount that would be allowable as being a deduction below segment 167 making use of the method (including the interval, to start with and past calendar year Conference, and salvage worth) used to compute controlled tax expenditure underneath clause (i), the taxpayer ought to make adjustments to some reserve to reflect the deferral of taxes ensuing from these variation.
“(E) Turbines and boilers.—Residence is explained On this subparagraph if these kinds of property— “(i) is often a turbine or boiler of the cooperative organization engaged inside the furnishing of electrical Power to folks in rural areas, and
(7) Denial of double profit Paragraph (1) shall not utilize to any experienced next era biofuel plant assets with respect to which an election has long been created less than segment 179C (concerning election to cost sure refineries).
“(B) these kinds of lessee is obligated to lease the developing underneath an agreement to lease entered into just before September 26, 1985, and these kinds of property is presented for such constructing, and
(ii) any transaction between members of exactly the same affiliated group in the course of any taxable yr for which a consolidated return is made by this sort of group.
(five) Alterations in use The Secretary shall, by restrictions, offer for the strategy of figuring out the deduction allowable underneath section 167(a) with respect to any tangible rico168 assets for just about any taxable 12 months (and also the succeeding taxable decades) in the course of which these types of property alterations position under this section but carries on being held by the same individual.
(ii) involved under segment 951 inside the gross profits of the United States shareholder for your taxable yr with or within just which finishes the taxable 12 months of your managed overseas Company wherein such earnings was derived.
“(F) The construction of a three-story Place of work constructing that may function the home Place of work for an insurance plan group and its affiliated organizations, with respect to which a city agreed to transfer its possession of your land with the challenge inside of a Redevelopment Settlement executed on September eighteen, 1985, after specified problems are satisfied.