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Rehabilitation expenditures

For purposes of paragraph (1)—

(A) In general The term “rehabilitation expenditures” means amounts chargeable to capital account and incurred for property (or additions or improvements to property) of a character subject to the allowance for depreciation in connection with the rehabilitation of a building.

(B) Cost of acquisition, etc., not included Such term does not include the cost of acquiring any building (or interest therein) or any amount not permitted to be taken into account under paragraph (3) or (4) of subsection (d).

in view

Whole section

▸rulespec code

Shown source

statutes/26/42.yaml

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Rules

new_non_federally_subsidized_building_minimum_applicable_percentage

Parameter

source: 26 USC 42(b)

- name: new_non_federally_subsidized_building_minimum_applicable_percentage
  kind: parameter
  dtype: Rate
  source: 26 USC 42(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/42
            excerpt: the applicable percentage shall not be less than 9 percent
  versions:
    - effective_from: '2024-01-01'
      formula: '0.09'

other_building_minimum_applicable_percentage

Parameter

source: 26 USC 42(b)

- name: other_building_minimum_applicable_percentage
  kind: parameter
  dtype: Rate
  source: 26 USC 42(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/42
            excerpt: the applicable percentage shall not be less than 4 percent
  versions:
    - effective_from: '2024-01-01'
      formula: '0.04'

supportive_services_qualified_basis_increase_cap_rate

Parameter

source: 26 USC 42(c)

- name: supportive_services_qualified_basis_increase_cap_rate
  kind: parameter
  dtype: Rate
  source: 26 USC 42(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/42
            excerpt: 20 percent of the qualified basis of such building
  versions:
    - effective_from: '2024-01-01'
      formula: '0.20'

supportive_services_qualified_basis_increase

Derived

source: 26 USC 42(c)

- name: supportive_services_qualified_basis_increase
  kind: derived
  entity: Building
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 42(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/42
            excerpt: shall be increased by the lesser of
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/42#supportive_services_qualified_basis_increase_cap_rate
            output: supportive_services_qualified_basis_increase_cap_rate
            hash: sha256:local
  versions:
    - effective_from: '2024-01-01'
      formula: >-
        if qualified_low_income_building_described_in_subsection_i_3_B_iii:
        min(eligible_basis_used_throughout_year_to_provide_supportive_services,
        supportive_services_qualified_basis_increase_cap_rate *
        qualified_basis_determined_without_supportive_services_increase) else: 0

high_cost_area_eligible_basis_multiplier

Parameter

source: 26 USC 42(d)

- name: high_cost_area_eligible_basis_multiplier
  kind: parameter
  dtype: Decimal
  source: 26 USC 42(d)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/42
            excerpt: the eligible basis of such building shall be 130 percent
  versions:
    - effective_from: '2024-01-01'
      formula: '1.30'

high_cost_area_new_building_eligible_basis

Derived

source: 26 USC 42(d)

- name: high_cost_area_new_building_eligible_basis
  kind: derived
  entity: Building
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 42(d)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/42
            excerpt: >-
              In the case of any building located in a qualified census tract or difficult
              development area
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/42#high_cost_area_eligible_basis_multiplier
            output: high_cost_area_eligible_basis_multiplier
            hash: sha256:local
  versions:
    - effective_from: '2024-01-01'
      formula: >-
        if new_building_located_in_designated_qualified_census_tract_or_difficult_development_area:
        high_cost_area_eligible_basis_multiplier *
        eligible_basis_determined_without_high_cost_area_increase else:
        eligible_basis_determined_without_high_cost_area_increase

rehabilitation_minimum_adjusted_basis_rate

Parameter

source: 26 USC 42(e)

- name: rehabilitation_minimum_adjusted_basis_rate
  kind: parameter
  dtype: Rate
  source: 26 USC 42(e)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/42
            excerpt: not less than 20 percent of the adjusted basis
  versions:
    - effective_from: '2024-01-01'
      formula: '0.20'