recapture event

(3) Recapture event defined For purposes of this subsection, the term “recapture event” means— (A) Cessation of operation The cessation of the operation of the facility as a qualified child care facility. (B) Change in ownership (i) In general Except as provided in clause (ii), the disposition of a taxpayer’s interest in a qualified child care facility with respect to which the credit described in subsection (a) was allowable. (ii) Agreement to assume recapture liability Clause (i) shall not apply if the person acquiring such interest in the facility agrees in writing to assume the recapture liability of the person disposing of such interest in effect immediately before such disposition. In the event of such an assumption, the person acquiring the interest in the facility shall be treated as the taxpayer for purposes of assessing any recapture liability (computed as if there had been no change in ownership).


26 USC § 45F(d)(3)

Scoping language

For purposes of this subsection
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