2012 US Code
Title 26 - Internal Revenue Code
Subtitle A - Income Taxes (§§ 1 - 1564)
Chapter 1 - NORMAL TAXES AND SURTAXES (§§ 1 - 1400U-3)
Subchapter X - Renewal Communities (§§ 1400E - 1400J)
Part III - ADDITIONAL INCENTIVES (§§ 1400H - 1400J)
Section 1400J - Increase in expensing under section 179
| Publication Title | United States Code, 2012 Edition, Title 26 - INTERNAL REVENUE CODE |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 26 - INTERNAL REVENUE CODE Subtitle A - Income Taxes CHAPTER 1 - NORMAL TAXES AND SURTAXES Subchapter X - Renewal Communities PART III - ADDITIONAL INCENTIVES Sec. 1400J - Increase in expensing under section 179 |
| Contains | section 1400J |
| Date | 2012 |
| Laws in Effect as of Date | January 15, 2013 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Added Pub. L. 106-554, §1(a)(7) [title I, §101(a)], Dec. 21, 2000, 114 Stat. 2763, 2763A-598. |
| Statutes at Large Reference | 114 Stat. 2763 |
| Public Law Reference | Public Law 106-554 |
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For purposes of section 1397A—
(1) a renewal community shall be treated as an empowerment zone,
(2) a renewal community business shall be treated as an enterprise zone business, and
(3) qualified renewal property shall be treated as qualified zone property.
(b) Qualified renewal propertyFor purposes of this section—
(1) In generalThe term “qualified renewal property” means any property to which section 168 applies (or would apply but for section 179) if—
(A) such property was acquired by the taxpayer by purchase (as defined in section 179(d)(2)) after December 31, 2001, and before January 1, 2010, and
(B) such property would be qualified zone property (as defined in section 1397D) if references to renewal communities were substituted for references to empowerment zones in section 1397D.
(2) Certain rules to applyThe rules of subsections (a)(2) and (b) of section 1397D shall apply for purposes of this section.
(Added Pub. L. 106–554, §1(a)(7) [title I, §101(a)], Dec. 21, 2000, 114 Stat. 2763, 2763A–598.)
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