Page:United States Statutes at Large Volume 100 Part 3.djvu/375

 PUBLIC LAW 99-514—OCT. 22, 1986

100 STAT. 2183

authority as of the beginning of the 60-month period applicable to the taxpayer under subparagraph (A). (3) DEREGULATION MONTH.—For purposes of this section, the term "deregulation month" means the month in which the Secretary of the Treasury or his delegate determines that a Federal law has been enacted which deregulates the freight forwarding industry. (c) SPECIAL RULE FOR MOTOR CARRIER OPERATING AUTHORITY.—In

the case of a corporation which was incorporated on December 29, 1969, in the State of Delaware, notwithstanding any other provision of law, there shall be allowed as a deduction for the taxable year of the taxpayer beginning in 1980 an amount equal to $2,705,188 for its entire loss due to a decline in value of its motor carrier operating authority by reason of deregulation. (d) EFFECTIVE DATES.— (1) Bus OPERATING AUTHORITY.—

(A) IN GENERAL.—Subsection (a) shall apply to taxable years ending after November 18, 1982. (B) STATUTE OF LIMITATIONS.—If refund or credit of any overpayment of tax resulting from subsection (a) is prevented at any time on or before the date which is 1 year after the date of the enactment of this Act by the operation of any law or rule of law (including res judicata), refund or credit of such overpayment (to the extent attributable to the application of such subsection) may, notwithstanding such law or rule of law, be made or allowed if claim therefore is filed on or before the date which is 18 months after such date of enactment. (2) FREIGHT FORWARDER OPERATING AUTHORITY.—Subsection

(b) shall apply to taxable years ending after the month preceding the deregulation month. SEC. 244. TREATMENT OF EXPENDITURES FOR REMOVAL OF ARCHITECTURAL BARRIERS TO THE HANDICAPPED AND ELDERLY MADE PERMANENT.

Paragraph (2) of section 190(d) (relating to expenditures to remove architectural and transportation barriers to the handicapped and elderly) is amended by striking out "1983, and before January 1, 1986" and inserting in lieu thereof "1983"

Subtitle F—Provisions Relating to Real Estate SEC. 251. MODIFICATION OF INVESTMENT TAX CREDIT FOR REHABILITATION EXPENDITURES.

(a) REDUCTION IN PERCENTAGE.—Paragraph (4) of section 460t>) (relating to rehabilitation percentage) is amended to read as follows: "(4) REHABILITATION PERCENTAGE.—

"(A) IN GENERAL.—The term 'rehabilitation percentage' means— "(i) 10 percent in the case of qualified rehabilitation expenditures with respect to a qualified rehabilitated building other than a certified historic structure, and "(ii) 20 percent in the case of such expenditure with respect to a certified historic structure. "(B) REGULAR AND ENERGY PERCENTAGES NOT TO APPLY.—

The regular percentage and the energy percentages shall

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