Page:United States Statutes at Large Volume 122.djvu/3873

 12 2 STA T .3850PUBLIC LA W 110 – 3 4 3 —O CT. 3 , 2008 ‘ ‘ (iv)wh i c hi s— ‘‘( I ) a c qu i redbyp urchase (as de f i n ed in sec t i o n 179 (d)( 2 ))bytheta x payer after A u g ust 3 1, 2 0 0 8 , but on l y if no written binding contract for the acquisition was in effect before S epte m ber 1, 2008, or ‘‘(II) acquired by the taxpayer pursuant to a written binding contract which was entered into after August 31, 2008 . ‘‘( B ) EXCEPTIONS .— ‘‘(i) BON U S D EP R ECI A TION PROPERT Y UNDER SU B- SECTION ( k ).— T he term ‘qualified reuse and recycling property ’ shall not include any property to which sec- tion 1 6 8(k) applies. ‘‘(ii) A L TERNATI V E DEPRECIATION PROPERTY.—The term ‘qualified reuse and recycling property’ shall not include any property to which the alternative deprecia- tion system under subsection (g) applies, determined without regard to paragraph (7) of subsection (g) (relating to election to have system apply). ‘‘(iii) ELECTION OUT.—If a taxpayer makes an elec- tion under this clause with respect to any class of property for any taxable year, this subsection shall not apply to all property in such class placed in service during such taxable year. ‘‘( C ) SPECIAL RULE F OR SELF-CONSTRUCTED PROPERTY.— In the case of a taxpayer manufacturing, constructing, or producing property for the taxpayer’s own use, the requirements of clause (iv) of subparagraph (A) shall be treated as met if the taxpayer begins manufacturing, con- structing, or producing the property after August 31, 2008. ‘‘( D ) DEDUCTION ALLO W EDINCO M PUTIN G MINIMUM TAX.— F or purposes of determining alternative minimum taxable income under section 5 5, the deduction under sub- section (a) for qualified reuse and recycling property shall be determined under this section without regard to any ad j ustment under section 56. ‘‘(3) DEFINITIONS.—For purposes of this subsection— ‘‘(A) R EUSE AND RECYCLING PROPERTY.— ‘‘(i) IN GENERAL.—The term ‘reuse and recycling property’ means any machinery and equipment (not including buildings or real estate), along with all appurtenances thereto, including software necessary to operate such equipment, which is used exclusively to collect, distribute, or recycle qualified reuse and recyclable materials. ‘‘(ii) EXCLUSION.—Such term does not include rolling stock or other equipment used to transport reuse and recyclable materials. ‘‘(B) Q UALIFIED REUSE AND RECYCLABLE MATERIALS.— ‘‘(i) IN GENERAL.—The term ‘qualified reuse and recyclable materials’ means scrap plastic, scrap glass, scrap textiles, scrap rubber, scrap packaging, recovered fiber, scrap ferrous and nonferrous metals, or electronic scrap generated by an individual or business. ‘‘(ii) ELECTRONIC SCRAP.—For purposes of clause (i), the term ‘electronic scrap’ means— Ef f ectiv e da te . Effective date. Effective date s .

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