Page:United States Statutes at Large Volume 90 Part 2.djvu/438

 9 0 STAT. 1906 ...-i;',.

PUBLIC LAW 94-455—OCT. 4, 1976 (B) the useful life of which (determined without regard to section 169) is not less than 5 years, 50 percent shall be the applicable percentage for purposes of applying paragraph (1) with respect to so much of the adjusted basis of the property as (after the application of section 169(f)) constitutes the amortizable basis for purposes of section 169." (b) DEFINITION OF CERTIFIED POLLUTION CONTROL F A C I L I T I E S. — P a r -

26 USC 169.

a g r a p h (1) of section 169(d) (defining certified pollution control facilities) is amended— (1) by striking out " January 1, 1969," and inserting in lieu thereof ^'January 1, 1976,"; (2) by striking out " o r storing" and inserting in lieu thereof "storing, or preventing the creation or emission of"; and (3) by striking out " and " at the end of subparagraph (A), by striking out the period a t the end of subparagraph (B) and inserting in lieu thereof "; and", and by adding a t the end thereof the following new subparagraph: " (C) does not significantly— " (i) increase the output or capacity, extend the useful life, or reduce the total operating costs of such p l a n t or other property (or any unit thereof), or " ( i i) alter the n a t u r e of the manufacturing or production process or facility." (c) EXTENSION OF AMORTIZATION. — Paragraph (4) of section 1 6 9 (d)

(relating to new identifiable treatment facility) is amended to read as follows: " (4) N E W IDENTIFIABLE TREATMENT FACILITY.—

Definition.



" (A) IN GENERAL.—For purposes of paragraph (1), the term 'new identifiable treatment facility' includes only tangible property ( not including a building and its structural components, other than a building which is exclusively a treatment facility) which is of a character subject to the allowance for depreciation provided in section 167, which is identifiable as a treatment facility, and which is property— " (i) the construction, reconstruction, or erection of which is completed by the tax p a y e r after December 31, 1968, or " ( i i) acquired after December 31, 1968, if the original use of the property commences with the tax p a y e r and commences after such date. I n applying this section in the case of property described i n clause (i) there shall be taken into account only that portion of the basis which is properly attributable to construction, reconstruction, o r erection after December 31, 1968. "(B)

CERTAIN PLANTS, ETC., PLACED I N OPERATION AFTER

19 68.—In the case of any treatment facility used i n connection with any plant or other property not in operation before January 1, 1969, the preceding sentence shall be applied by substituting December 31, 1975, for December 31, 1968." (d) EFFECTIVE D A T E S. —

26 USC 46 note.

(1) The amendments made by subsection (a) shall a p p l y to— (A) property acquired by the tax p a y e r after December 3 1, 1976, and (B) property the construction, reconstruction, or erection of which was completed by the taxpayer after December 31, 1976, ( b u t only to the extent of the basis thereof attributable

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