Page:United States Statutes at Large Volume 98 Part 1.djvu/570

 98 STAT. 522

PUBLIC LAW 98-369—JULY 18, 1984

(i) the taxpayer (or his predecessor in interest under the contract) to acquire, construct, reconstruct, or rehabilitate such property, and (ii) the tax-exempt entity (or a tax-exempt predecessor thereof) to be the lessee of such property. (B) The amendments made by this section shall not apply with respect to any property owned by a partnership if— (i) such property was acquired by such partnership M, on or before October 21, 1983, or (ii) such partnership entered into a written binding contract which, on October 21, 1983, and at all times m i^/ thereafter, required the partnership to acquire or construct such property. (C) The amendments made by this section shall not apply with respect to any property leased to a tax-exempt entity (other than any foreign person or entity)— ^riv,,. (pif^ (I) on or before May 23, 1983, the taxpayer (or his predecessor in interest under the contract) or the, tax-exempt entity entered into a written binding contract to acquire, construct, reconstruct, or reha(iO?, Q AJv bilitate such property and such property had not previously been used by the tax-exempt entity, or (II) the taxpayer or the tax-exempt entity acquired the property after June 30, 1982, and on or before May 23, 1983, or completed the construction, reconstruction, or rehabilitation of the property after December 31, 1982, and on or before May 23, 1983, and (ii) if such lease is pursuant to a written binding contract entered into before January 1, 1985, which ,., „ requires the tax-exempt entity to be the lessee of such property. f

(4) OFFICIAL GOVERNMENTAL ACTION ON OR BEFORE NOVEMBER 1, 1983.—

(A) IN GENERAL.—The amendments made by this section shall not apply with respect to any property leased to a taxexempt entity (other than the United States, any agency or instrumentality thereof, or any foreign person or entity) -^'"'

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(i) on or before November 1, 1983, there was significant official governmental action with respect to the project or its design, and (ii) the lease to the tax-exempt entity is pursuant to a written binding contract entered into before January 1, 1985, which requires the tax-exempt entity to be the lessee of the property. (B) SIGNIFICANT OFFICIAL GOVERNMENTAL ACTION.—For

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purposes of subparagraph (A), the term "significant official governmental action" does not include granting of permits, zoning changes, environmental impact statements, or similar governmental actions. (5) MASS COMMUTING VEHICLES.—The amendments made by this section shall not apply to any qualified mass commuting vehicle (as defined in section 103(b)(9) of the Internal Revenue Code of 1954) which is financed in whole or in part by obliga-

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