Editorial Notes
Amendments
2018—Subsec. (d). Pub. L. 115–141, in heading, struck out “and research credit” after “tax credit” and, in text, substituted “in the case of the investment credit determined under section 46 (other than the rehabilitation credit).” for “in the case of—
“(1) the investment credit determined under section 46 (other than the rehabilitation credit), and
“(2) the research credit determined under section 41(a) for a taxable year beginning before January 1, 1990.”
2010—Subsec. (c)(14). Pub. L. 111–148 added par. (14).
2005—Subsec. (c)(13). Pub. L. 109–58 added par. (13).
2004—Subsec. (c)(11). Pub. L. 108–357, § 302(c)(2), added par. (11).
Subsec. (c)(12). Pub. L. 108–357, § 339(e), added par. (12).
2001—Subsec. (c)(10). Pub. L. 107–16 added par. (10).
2000—Subsec. (c)(9). Pub. L. 106–554 added par. (9).
1998—Subsec. (c)(8). Pub. L. 105–206 added par. (8).
1996—Subsec. (c)(2). Pub. L. 104–188 substituted “work opportunity credit” for “targeted jobs credit”.
1993—Subsec. (c)(6). Pub. L. 103–66, § 13302(b)(2), added par. (6).
Subsec. (c)(7). Pub. L. 103–66, § 13322(c)(2), added par. (7).
1990—Subsec. (c)(1). Pub. L. 101–508, § 11813(b)(12)(A), substituted “section 46” for “section 46(a)” and “section 50(c)” for “section 48(q)”.
Subsec. (c)(5). Pub. L. 101–508, § 11511(b)(3), added par. (5).
Subsec. (d)(1). Pub. L. 101–508, § 11813(b)(12)(B), substituted “section 46” for “section 46(a)” and “other than the rehabilitation credit” for “other than a credit to which section 48(q)(3) applies”.
1989—Subsec. (c)(4). Pub. L. 101–239, § 7814(e)(2)(D), inserted “(other than such credit determined under section 280C(c)(3))” after “section 41(a)”.
Subsec. (d). Pub. L. 101–239, § 7814(e)(1), substituted “substituting ‘an amount equal to 50 percent of’ for ‘an amount equal to’ in the case of” for “substituting an amount equal to 50 percent of for an amount equal to in the case of” in introductory provisions.
Subsec. (d)(2). Pub. L. 101–239, § 7110(c)(2), inserted “for a taxable year beginning before January 1, 1990” after “under section 41(a)”.
1988—Subsec. (c)(4). Pub. L. 100–647, § 4008(b)(2)(A), added par. (4).
Subsec. (d). Pub. L. 100–647, § 4008(b)(2)(B), inserted “and research credit” after “tax credit” in heading and amended text generally. Prior to amendment, text read as follows: “In the case of the investment credit determined under section 46(a) (other than a credit to which section 48(q)(3) applies), subsection (a) shall be applied by substituting ‘an amount equal to 50 percent of’ for ‘an amount equal to’.”
1984—Pub. L. 98–369 amended section generally, substituting provisions relating to deduction for certain unused business credits for provisions relating to deduction for certain unused investment credits.
Statutory Notes and Related Subsidiaries
Effective Date of 2004 Amendment
Amendment by section 302(c)(2) of Pub. L. 108–357 applicable to fuel produced, and sold or used, after Dec. 31, 2004, in taxable years ending after such date, see section 302(d) of Pub. L. 108–357, set out as a note under section 38 of this title.
Amendment by section 339(e) of Pub. L. 108–357 applicable to expenses paid or incurred after Dec. 31, 2002, in taxable years ending after such date, see section 339(f) of Pub. L. 108–357, set out as a note under section 38 of this title.
Effective Date of 1990 Amendment
Amendment by section 11511(b)(3) of Pub. L. 101–508 applicable to costs paid or incurred in taxable years beginning after Dec. 31, 1990, see section 11511(d)(1) of Pub. L. 101–508, set out as an Effective Date note under section 43 of this title.
Amendment by section 11813(b)(12) of Pub. L. 101–508 applicable to property placed in service after Dec. 31, 1990, but not applicable to any transition property (as defined in section 49(e) of this title), any property with respect to which qualified progress expenditures were previously taken into account under section 46(d) of this title, and any property described in section 46(b)(2)(C) of this title, as such sections were in effect on Nov. 4, 1990, see section 11813(c) of Pub. L. 101–508, set out as a note under section 45K of this title.
Effective Date of 1989 Amendment
Amendment by section 7110(c)(2) of Pub. L. 101–239 applicable to taxable years beginning after Dec. 31, 1989, see section 7110(e) of Pub. L. 101–239, set out as a note under section 41 of this title.
Amendment by section 7814(e)(1), (2)(D) of Pub. L. 101–239 effective, except as otherwise provided, as if included in the provision of the Technical and Miscellaneous Revenue Act of 1988, Pub. L. 100–647, to which such amendment relates, see section 7817 of Pub. L. 101–239, set out as a note under section 1 of this title.
Effective Date
Pub. L. 97–248, title II, § 205(c)(1), Sept. 3, 1982, 96 Stat. 430, as amended by Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095, provided that:
“(A) General rule.—
Except as otherwise provided in this paragraph, the amendments made by subsection (a) [enacting this section and amending sections
48,
312, and
1016 of this title] shall apply to periods after
December 31, 1982, under rules similar to the rules of section 48(m) of the
Internal Revenue Code of 1986 [formerly I.R.C. 1954].
“(B) Exception.—The amendments made by subsection (a) shall not apply to any property which—
“(i)
is constructed, reconstructed, erected, or acquired pursuant to a contract which was entered into after August 13, 1981, and was, on July 1, 1982, and at all times thereafter, binding on the taxpayer,
“(ii)
is placed in service after December 31, 1982, and before January 1, 1986,
“(iii)
with respect to which an election under section 168(f)(8)(A) of such Code is not in effect at any time, and
“(iv)
is not described in section 167(l)(3)(A) of such Code.
“(C) Special rule for integrated manufacturing facilities.—
“(i) In general.—In the case of any integrated manufacturing facility, the requirements of clause (i) of subparagraph (B) shall be treated as met if—
“(I)
the on-site construction of the facility began before July 1, 1982, and
“(II)
during the period beginning after August 13, 1981, and ending on July 1, 1982, the taxpayer constructed (or entered into binding contracts for the construction of) more than 20 percent of the cost of such facility.
“(ii) Integrated manufacturing facility.—For purposes of clause (i), the term ‘integrated manufacturing facility’ means 1 or more facilities—
“(I)
located on a single site,
“(II)
for the manufacture of 1 or more manufactured products from raw materials by the application of 2 or more integrated manufacturing processes.
“(D) Special rule for historic structures.—
In the case of any certified historic structure (as defined in section 48(g)(3) of the
Internal Revenue Code of 1986), clause (i) of subparagraph (B) shall be applied by substituting ‘
December 31, 1980’ for ‘
August 13, 1981.’
“(E) Certain projects with respect to historic structures.—In the case of any certified historic structure (as so defined), the requirements of clause (i) of subparagraph (B) shall be treated as met with respect to such property—
“(i)
if the rehabilitation begins after December 31, 1980, and before July 1, 1982, or
“(ii) if—
“(I)
before July 1, 1982, a public offering with respect to interests in such property was registered with the Securities and Exchange Commission,
“(III)
such property is placed in service before July 1, 1984.”
Savings Provision
For provisions that nothing in amendment by Pub. L. 115–141 be construed to affect treatment of certain transactions occurring, property acquired, or items of income, loss, deduction, or credit taken into account prior to Mar. 23, 2018, for purposes of determining liability for tax for periods ending after Mar. 23, 2018, see section 401(e) of Pub. L. 115–141, set out as a note under section 23 of this title.
For provisions that nothing in amendment by section 11813(b)(12) of Pub. L. 101–508 be construed to affect treatment of certain transactions occurring, property acquired, or items of income, loss, deduction, or credit taken into account prior to Nov. 5, 1990, for purposes of determining liability for tax for periods ending after Nov. 5, 1990, see section 11821(b) of Pub. L. 101–508, set out as a note under section 45K of this title.