qualified building
(ii)For purposes of clause (i), the term “qualified building” means any building which is part of a project if the taxpayer’s basis in such project (as of the date which is 1 year after the date that the allocation was made) is more than 10 percent of the taxpayer’s reasonably expected basis in such project (as of the close of the second calendar year referred to in clause (i)). Such term does not include any existing building unless a credit is allowable under subsection (e) for rehabilitation expenditures paid or incurred by the taxpayer with respect to such building for a taxable year ending during the second calendar year referred to in clause (i) or the prior taxable year. (F) (i)In the case of a project which includes (or will include) more than 1 building, an allocation meets the requirements of this subparagraph if— (I)the allocation is made to the project for a calendar year during the project period, (II)the allocation only applies to buildings placed in service during or after the calendar year for which the allocation is made, and (III)the portion of such allocation which is allocated to any building in such project is specified not later than the close of the calendar year in which the building is placed in service.