Pub. L. 91–172, title VII, § 705(a)83 Stat. 672Pub. L. 94–455, title XVII, § 170290 Stat. 1760Pub. L. 95–473, § 2(a)(2)(B)92 Stat. 1464Section, added , , ; amended , title XIX, § 1906(b) (13)(A), , , 1834; , , , related to amortization of railroad grading and tunnel bores.
Statutory Notes and Related Subsidiaries
Effective Date of Repeal
Pub. L. 99–514, title II, § 242(c)100 Stat. 2181
In general .—
Except as provided in paragraph (2), the amendments made by this section [amending sections 1082 and 1250 of this title and repealing this section] shall apply to that portion of the basis of any property which is attributable to expenditures paid or incurred after .
Transitional rule .—
The amendments made by this section shall not apply to any expenditure incurred—
pursuant to a binding contract entered into before , or
with respect to any improvement commenced before , but only if not less than the lesser of $1,000,000 or 5 percent of the aggregate cost of such improvement has been incurred or committed before such date.
The preceding sentence shall not apply to any expenditure with respect to an improvement placed in service after .”