“(ii) such project influences an current, close to forty acre public mass transportation bus-way terminal facility Positioned adjacent to an interstate highway;
“(F) Residence Utilized in the creation of metal.—Assets is explained Within this subparagraph if these kinds of residence— “(i) is utilized by the taxpayer directly in reference to the trade or small business on the taxpayer on the manufacture or production of metal, and
For applications of this paragraph, all customers of precisely the same affiliated team of businesses (throughout the meaning of segment 1504 of the Internal Income Code of 1986) filing a consolidated return shall be taken care of as just one taxpayer.
“(II) the taxpayer treats such film as recovery home for uses of part 168 of this sort of Code.
“(I) House is explained On this subparagraph if this sort of assets is utilized by a university as a good arts center along with the Board of Trustees of such university approved the sale-leaseback agreement with respect to these types of home on March 7, 1984.
For applications of your previous sentence, any exclusion or exemption shall not submit an application for uses of analyzing the quantity of the gross cash flow so derived, but shall make an application for needs of pinpointing the portion of these gross earnings issue to tax less than this chapter.
“(B) with respect to wages for which the taxpayer claimed the key benefits of part 45A of such Code for any taxable 12 months over a return submitted before March 18, 1997, but only if this kind of return was the primary return of tax submitted for these taxable calendar year.”
The advantage of deductions by cause of your previous sentence shall be permitted to estates and trusts in precisely the same way as in the situation of an individual. The allowable deduction shall be apportioned among the earnings beneficiaries as well as fiduciary in accordance with laws prescribed beneath portion 642(file).”
“(H) House is described On this subparagraph if this kind of home is used by a university, and— “(i) in July 1982, the Board of Trustees from the university adopted a master strategy with the funding of your assets; and
“(7) Whether or not the ACRS deductions as well as investment tax credit history are allowable to the exact same taxpayer;
then, for needs of applying the revenue rules of The usa in regard to this kind of agreement, the percentage of the assets allocable to associates (or beneficiaries) not explained in clause (iii) shall be dealt with like it were being issue to the individual arrangement along with the portion of this kind of property allocable to the partner or beneficiary explained in clause (iii) shall be dealt with as though it had been subject to the individual agreement.
(five) Modifications in utilize the Secretary shall, by laws, deliver for the strategy of pinpointing the deduction allowable beneath part 167(a) with respect to any tangible home for virtually any taxable yr (as well as succeeding taxable several years) throughout which these types of house changes status beneath this area but proceeds to get held by precisely the same individual.
“(B) Course of products.—For needs of subparagraph (A)— “(i) the time period ‘class of products and solutions’ signifies any from the categories specified and numbered as a ‘course of merchandise’ while in the 1977 Census of Producers compiled and printed with the Secretary of Commerce under title 13 of America Code, and
“(iv) Positioned in company.—In the case of home to which this subparagraph applies— “(I) these rico168 kinds of property shall be treated as positioned in company once the taxpayer receives an functioning allow with respect to these types of property from the Point out environmental defense company, and