qualified reuse and recycling property
(2) Qualified reuse and recycling property For purposes of this subsection— (A) In general The term “qualified reuse and recycling property” means any reuse and recycling property— (i) to which this section applies, (ii) which has a useful life of at least 5 years, (iii) the original use of which commences with the taxpayer after August 31, 2008 , and (iv) which is— (I) acquired by purchase (as defined in section 179(d)(2) ) by the taxpayer after August 31, 2008 , but only if no written binding contract for the acquisition was in effect before September 1, 2008 , or (II) acquired by the taxpayer pursuant to a written binding contract which was entered into after August 31, 2008 . (B) Exceptions (i) Bonus depreciation property under subsection (k) The term “qualified reuse and recycling property” shall not include any property to which subsection (k) (determined without regard to paragraph (4) thereof) applies. (ii) Alternative depreciation property The term “qualified reuse and recycling property” shall not include any property to which the alternative depreciation system under subsection (g) applies, determined without regard to paragraph (7) of subsection (g) (relating to election to have system apply). (iii) Election out If a taxpayer makes an election under this clause with respect to any class of property for any taxable year, this subsection shall not apply to all property in such class placed in service during such taxable year. (C) Special rule for self-constructed property In the case of a taxpayer manufacturing, constructing, or producing property for the taxpayer’s own use, the requirements of clause (iv) of subparagraph (A) shall be treated as met if the taxpayer begins manufacturing, constructing, or producing the property after August 31, 2008 . (D) Deduction allowed in computing minimum tax For purposes of determining alternative minimum taxable income under section 55, the deduction under subsection (a) for qualified reuse and recycling property shall be determined under this section without regard to any adjustment under section 56.