rehabilitation expenditures

(3) Rehabilitation expenditures For purposes of this subsection— (A) In general Except as provided in this paragraph, the term “rehabilitation expenditures” means any amount properly chargeable to capital account which is incurred by the person acquiring the building for property (or additions or improvements to property) in connection with the rehabilitation of a building. In the case of an integrated operation contained in a building before its acquisition, such term includes rehabilitating existing equipment in such building or replacing it with equipment having substantially the same function. For purposes of this subparagraph, any amount incurred by a successor to the person acquiring the building or by the seller under a sales contract with such person shall be treated as incurred by such person. (B) Certain expenditures not included The term “rehabilitation expenditures” does not include any expenditure described in section 47(c)(2)(B). (C) Period during which expenditures must be incurred The term “rehabilitation expenditures” shall not include any amount which is incurred after the date 2 years after the later of— (i) the date on which the building was acquired, or (ii) the date on which the bond was issued.


26 USC § 147(d)(3)

Scoping language

For purposes of this subsection
Is this correct? or