26 U.S. Code § 1400J - Increase in expensing under section 179

§ 1400J.
Increase in expensing under section 179
(a) In generalFor purposes of section 1397A—
a renewal community shall be treated as an empowerment zone,
a renewal community business shall be treated as an enterprise zone business, and
qualified renewal property shall be treated as qualified zone property.
(b) Qualified renewal propertyFor purposes of this section—
(1) In generalThe term “qualified renewal property” means any property to which section 168 applies (or would apply but for section 179) if—
such property was acquired by the taxpayer by purchase (as defined in section 179(d)(2)) after December 31, 2001, and before January 1, 2010, and
such property would be qualified zone property (as defined in section 1397D) if references to renewal communities were substituted for references to empowerment zones in section 1397D.
(2) Certain rules to apply

The rules of subsections (a)(2) and (b) of section 1397D shall apply for purposes of this section.

(Added Pub. L. 106–554, § 1(a)(7) [title I, § 101(a)], Dec. 21, 2000, 114 Stat. 2763, 2763A–598.)


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