Page:United States Statutes at Large Volume 100 Part 3.djvu/345

 PUBLIC LAW 99-514—OCT. 22, 1986

100 STAT. 2153

(i) more than $2,290,000 of expenditures were made before March 1, 1986, with respect to a project involving up to 300 platforms, or (ii) more than $95,000 of expenditures were made before March 1, 1986, with respect to a project involving up to 850 platforms. (O) A project is described in this subparagraph if—(i) the project involves the production and transportation of oil and gas from a well located north of the Arctic Circle, and (ii) more than $200,000,000 of cost had been incurred or committed before September 26, 1985. (P) A project is described in this subparagraph if— (i) a commitment letter was entered into with a financial institution on January 23, 1986, for the financing of the project, (ii) the project involves intercity communication links (including microwave and fiber optics communications systems and related property), (iii) the project consists of communications links between— (I) Omaha, Nebraska, and Council Bluffs, Iowa, (II) Waterloo, Iowa and Sioux City, Iowa, (III) Davenport, Iowa and Springfield, Illinois, and (iv) the estimated cost of such project is approximately $13,000,000. (Q) A project is described in this subparagraph if— (i) such project is a mining modernization project involving mining, transport, and milling operations, (ii) before September 26, 1985, at least $20,000,000 was expended for engineering studies which were approved by the Board of Directors of the taxpayer on January 27, 1983, and (iii) such project will involve a total estimated minimum cost of $350,000,000. (R) A project is described in this subparagraph if— (i) such project is a dragline acquired in connection with a 3-stage program which began in 1980 to increase production from a coal mine, (ii) at least $35,000,000 was spent before September 26, 1985, on the 1st 2 stages of the program, and (iii) at least $4,000,000 was spent to prepare the mine site for the dragline. (S) A project is described in this subparagraph if—it is a project consisting of a mineral processing facility using a heap leaching system (including waste dumps, low-grade dumps, a leaching area, and mine roads) and if— (i) convertible subordinated debentures were issued in August 1985, to finance the project, (ii) construction of the project was authorized by the Board of Directors of the taxpayer on or before December 31, 1985, (iii) at least $750,000 was paid or incurred with respect to the project on or before December 31, 1985, and (iv) the project is placed in service on or before December 31, 1986.

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