Page:United States Statutes at Large Volume 98 Part 1.djvu/571

 PUBLIC LAW 98-369—JULY 18, 1984

98 STAT. 523

tions the interest on which is excludable from gross income under section 103(a) of such Code if— (A) such vehicle is placed in service before January 1, 1988, or ^^ (B) such vehicle is placed in service on or after such L.^.. date— (i) pursuant to a binding contract or commitment •itm] entered into before April 1, 1983, and (ii) solely because of conditions which, as determined by the Secretary of the Treasury or his delegate, are not within the control of the lessor or lessee. (6) CERTAIN TURBINES AND BOILERS.—The amendments made by this section shall not apply to any property described in J section 208(d)(3)(E) of the Tax Equity and Fiscal Responsibility Act of 1982. 96 Stat. 439. (7) CERTAIN FACILITIES FOR WHICH RULING REQUESTS FILED ON

OR BEFORE MAY 23, 1983.—The amendments made by this section shall not apply with respect to any facilities described in clause (ii) of section 168(f)(12)(C) of the Internal Revenue Code of 1954 (relating to certain sewage or solid waste disposal facilities), as in effect on the day before the date of the enactment of this Act, if a ruling request with respect to the lease of such facility to the tax-exempt entity was filed with the Internal Revenue Service on or before May 23, 1983. (8) RECOVERY FACILITIES.—

PERIOD

FOR

CERTAIN

QUALIFIED

.,. •'• "*

SEWAGE

(A) IN GENERAL.—In the case of any property (other than 15-year real property) which is part of a qualified sewage facility, the recovery period used for purposes of paragraph (1) of section 168(j) of the Internal Revenue Code of 1954 (as Ante, p. 509. added by this section) shall be 12 years. For purposes of the preceding sentence, the term "15-year real property" includes 18-year real property. (B) QUALIFIED SEWAGE FACILITY.—For purposes of subparagraph (A), the term "qualified sewage facility" means any facility which is part of the sewer system of a city, if— (i) on June 15, 1983, the City Council approved a resolution under which the city authorized the procure'^' ment of equity investments for such facility, and ^ ^ ^ (ii) on July 12, 1983, the Industrial Development •* *"' "" Board of the city approved a resolution to issue a $100,000,000 industrial development bond issue to provide funds to purchase such facility. (9) PROPERTY USED BY THE POSTAL SERVICE.—In the case of property used by the United States Postal Service, paragraphs (1) and (2) shall be applied by substituting "October 31" for "May 23". (10) EXISTING APPROPRIATIONS.—The amendments made by this section shall not apply to personal property leased to or used by the United States if^ (A) an express appropriation has been made for rentals under such lease for the fiscal year 1983 before May 23, 1983, and (B) the United States or an agency or instrumentality thereof has not provided an indemnification against the loss of all or a portion of the tax benefits claimed under the lease or service contract.

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