‘‘(ii) 20 percent of the qualified basis 
of a building not described in clause (i). 
‘‘(C) METHOD
OF
DISCOUNTING.—The 
present value under subparagraph (B) shall be 
determined— 
‘‘(i) as of the last day of the 1st year 
of the 15-year period referred to in sub-
paragraph (B), 
‘‘(ii) by using a discount rate equal to 
72 percent of the average of the annual 
Federal mid-term rate and the annual 
Federal long-term rate applicable under 
section 1274(d)(1) to the month applicable 
under clause (i) or (ii) of subparagraph 
(A) and compounded annually, and 
‘‘(iii) by assuming that the credit al-
lowable under this section for any year is 
received on the last day of such year. 
‘‘(2) MINIMUM CREDIT RATE.— 
‘‘(A) IN
GENERAL.—The applicable per-
centage for any building which is not Federally 
subsidized for the taxable year shall not be less 
than 5 percent. 
‘‘(B) MINIMUM CREDIT RATE FOR FEDER-
ALLY SUBSIDIZED BUILDINGS.—In the case of 
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any building to which subparagraph (A) does 
not apply, except as provided in paragraph (3), 
the applicable percentage shall not be less than 
2 percent. 
‘‘(3) EXCEPTION
FOR
CERTAIN
FEDERALLY 
SUBSIDIZED BUILDINGS.—In the case of any build-
ing to which paragraph (2)(A) does not apply, the 
applicable percentage is zero unless— 
‘‘(A) a credit is allowed under section 42 
with respect to such building for the taxable 
year, and 
‘‘(B) such building is financed by tax-ex-
empt bonds as described in section 42(h)(4). 
‘‘(4) CROSS REFERENCES.— 
‘‘(A) For treatment of certain rehabilita-
tion expenditures as separate new buildings, see 
subsection (e). 
‘‘(B) For determination of applicable per-
centage for increases in qualified basis after the 
1st year of the credit period, see subsection 
(f)(3). 
‘‘(C) For authority of housing credit agen-
cy to limit applicable percentage and qualified 
basis which may be taken into account under 
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this section with respect to any building, see 
subsection (h)(6). 
‘‘(c) QUALIFIED BASIS; QUALIFIED MIDDLE-INCOME 
BUILDING.—For purposes of this section— 
‘‘(1) QUALIFIED BASIS.— 
‘‘(A) 
DETERMINATION.—The 
qualified 
basis of any qualified middle-income building 
for any taxable year is an amount equal to— 
‘‘(i) the applicable fraction (deter-
mined as of the close of such taxable year) 
of 
‘‘(ii) the eligible basis of such building 
(determined under subsection (d)). 
‘‘(B) APPLICABLE
FRACTION.—For pur-
poses of subparagraph (A), the term ‘applicable 
fraction’ means the smaller of the unit fraction 
or the floor space fraction. 
‘‘(C) UNIT
FRACTION.—For purposes of 
subparagraph (B), the term ‘unit fraction’ 
means the fraction— 
‘‘(i) the numerator of which is the 
number of middle-income units in the 
building, and 
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‘‘(ii) the denominator of which is the 
number of residential rental units (whether 
or not occupied) in such building. 
‘‘(D) FLOOR SPACE FRACTION.—For pur-
poses of subparagraph (B), the term ‘floor 
space fraction’ means the fraction— 
‘‘(i) the numerator of which is the 
total floor space of the middle-income units 
in such building, and 
‘‘(ii) the denominator of which is the 
total floor space of the residential rental 
units (whether or not occupied) in such 
building. 
‘‘(2) QUALIFIED MIDDLE-INCOME BUILDING.— 
The term ‘qualified middle-income building’ means 
any building which is part of a qualified middle-in-
come housing project at all times during the pe-
riod— 
‘‘(A) beginning on the 1st day in the credit 
period on which such building is part of such a 
project, and 
‘‘(B) ending on the last day of the credit 
period with respect to such building. 
‘‘(d) ELIGIBLE BASIS.—For purposes of this sec-
tion— 
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‘‘(1) NEW BUILDINGS.—The eligible basis of a 
new building is its adjusted basis as of the close of 
the 1st taxable year of the credit period. 
‘‘(2) EXISTING BUILDINGS.— 
‘‘(A) IN GENERAL.—The eligible basis of 
an existing building is— 
‘‘(i) in the case of a building which 
meets the requirements of subparagraph 
(B), its adjusted basis as of the close of 
the 1st taxable year of the credit period, 
and 
‘‘(ii) zero in any other case. 
‘‘(B) REQUIREMENTS.—A building meets 
the requirements of this subparagraph if— 
‘‘(i) the building is acquired by pur-
chase (as defined in section 179(d)(2)), 
‘‘(ii) there is a period of at least 10 
years between the date of its acquisition by 
the taxpayer and the date the building was 
last placed in service, 
‘‘(iii) the building was not previously 
placed in service by the taxpayer or by any 
person who was a related person with re-
spect to the taxpayer as of the time pre-
viously placed in service, and 
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‘‘(iv) except as provided in subsection 
(f)(5), a credit is allowable under sub-
section (a) by reason of subsection (e) with 
respect to the building. 
‘‘(C) ADJUSTED BASIS.—For purposes of 
subparagraph (A), the adjusted basis of any 
building shall not include so much of the basis 
of such building as is determined by reference 
to the basis of other property held at any time 
by the person acquiring the building. 
‘‘(D) SPECIAL RULES.— 
‘‘(i) SPECIAL
RULES
FOR
CERTAIN 
TRANSFERS.—For purposes of determining 
under subparagraph (B)(ii) when a build-
ing was last placed in service, there shall 
not be taken into account any placement in 
service— 
‘‘(I) in connection with the acqui-
sition of the building in a transaction 
in which the basis of the building in 
the hands of the person acquiring it is 
determined in whole or in part by ref-
erence to the adjusted basis of such 
building in the hands of the person 
from whom acquired, 
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‘‘(II) by a person whose basis in 
such building is determined under sec-
tion 1014(a) (relating to property ac-
quired from a decedent), 
‘‘(III) by any governmental unit 
or qualified nonprofit organization if 
the requirements of subparagraph 
(B)(ii) are met with respect to the 
placement in service by such unit or 
organization and all the income from 
such property is exempt from Federal 
income taxation, 
‘‘(IV) by any person who ac-
quired such building by foreclosure 
(or by instrument in lieu of fore-
closure) of any purchase-money secu-
rity interest held by such person if the 
requirements of subparagraph (B)(ii) 
are met with respect to the placement 
in service by such person and such 
building is resold within 12 months 
after the date such building is placed 
in service by such person after such 
foreclosure, or 
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‘‘(V) of a single-family residence 
by any individual who owned and used 
such residence for no other purpose 
than as his principal residence. 
‘‘(ii) RELATED
PERSON.—For pur-
poses of subparagraph (B)(iii), a person 
(hereinafter in this subclause referred to as 
the ‘related person’) is related to any per-
son if the related person bears a relation-
ship to such person specified in section 
267(b) or 707(b)(1), or the related person 
and such person are engaged in trades or 
businesses under common control (within 
the meaning of subsections (a) and (b) of 
section 52). 
‘‘(3) SPECIAL
RULES
RELATING
TO
DETER-
MINATION OF ADJUSTED BASIS.—For purposes of 
this subsection— 
‘‘(A) IN GENERAL.—Except as provided in 
subparagraph (B), the adjusted basis of any 
building shall be determined without regard to 
the adjusted basis of any property which is not 
residential rental property. 
‘‘(B) BASIS
OF
PROPERTY
IN
COMMON 
AREAS, ETC., INCLUDED.— 
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‘‘(i) IN
GENERAL.—Except as pro-
vided in clause (ii), the adjusted basis of 
any building shall be determined by taking 
into account the adjusted basis of property 
(of a character subject to the allowance for 
depreciation) used in common areas or 
provided as comparable amenities to all 
residential rental units in such building. 
‘‘(ii) SPECIAL RULE.—In the case of 
any building for which the low-income 
housing tax credit is allowable under sec-
tion 42, the adjusted basis of the building 
under this section shall be determined 
without regard to property used in com-
mon areas or provided as comparable 
amenities to all residential rental units in 
such building. 
‘‘(C) NO
REDUCTION
FOR
DEPRECIA-
TION.—The adjusted basis of any building shall 
be determined without regard to paragraphs (2) 
and (3) of section 1016(a). 
‘‘(4) SPECIAL RULES FOR DETERMINING ELIGI-
BLE BASIS.— 
‘‘(A) FEDERAL GRANTS NOT TAKEN INTO 
ACCOUNT IN DETERMINING ELIGIBLE BASIS.— 
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The eligible basis of a building shall not include 
any costs financed with the proceeds of a Fed-
erally funded grant. 
‘‘(B) INCREASE IN CREDIT FOR BUILDINGS 
IN HIGH COST AREAS.— 
‘‘(i) IN GENERAL.—In the case of any 
building located in a difficult development 
area which is designated for purposes of 
this subparagraph— 
‘‘(I) in the case of a new build-
ing, the eligible basis of such building 
shall be 130 percent of such basis de-
termined without regard to this sub-
paragraph, and 
‘‘(II) in the case of an existing 
building, the rehabilitation expendi-
tures taken into account under sub-
section (e) shall be 130 percent of 
such expenditures determined without 
regard to this subparagraph. 
‘‘(ii) LIMITATION.—Clause (i) shall 
not apply to any building if paragraph (1) 
of subsection (h) does not apply to any 
portion of the eligible basis of such build-
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ing by reason of paragraph (9) of such 
subsection. 
‘‘(iii) 
DIFFICULT
DEVELOPMENT 
AREAS.— 
‘‘(I) IN
GENERAL.—The term 
‘difficult development areas’ means 
any area designated by the Secretary 
of Housing and Urban Development 
as an area which has high construc-
tion, land, or utility costs relative to 
area median gross income, any rural 
area, and any Indian area. 
‘‘(II) RURAL
AREA.—For pur-
poses of subclause (I), the term ‘rural 
area’ means any non-metropolitan 
area, or any rural area as defined by 
section 520 of the Housing Act of 
1949, which is identified by the quali-
fied allocation plan under subsection 
(m)(1)(B). 
‘‘(III) INDIAN
AREA.—For pur-
poses of subclause (I), the term ‘In-
dian area’ means any Indian area (as 
defined in section 4(11) of the Native 
American Housing Assistance and 
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Self Determination Act of 1996 (25 
U.S.C. 4103(11))). 
‘‘(IV) SPECIAL RULE FOR BUILD-
INGS IN INDIAN AREAS.—In the case 
of an area which is a difficult develop-
ment area solely because it is an In-
dian area, a building shall not be 
treated as located in such area unless 
such building is assisted or financed 
under the Native American Housing 
Assistance and Self Determination 
Act of 1996 (25 U.S.C. 4101 et seq.) 
or the project sponsor is an Indian 
tribe 
(as 
defined 
in 
section 
45A(c)(6)), a tribally designated hous-
ing entity (as defined in section 4(22) 
of such Act (25 U.S.C. 4103(22))), or 
wholly owned or controlled by such an 
Indian tribe or tribally designated 
housing entity. 
‘‘(V) LIMIT
ON
AREAS
DES-
IGNATED.—The portions of metropoli-
tan statistical areas which may be 
designated for purposes of this sub-
paragraph shall not exceed an aggre-
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gate area having 20 percent of the 
population of such metropolitan sta-
tistical areas. A comparable rule shall 
apply to nonmetropolitan areas. 
‘‘(iv) SPECIAL
RULES
AND
DEFINI-
TIONS.—For purposes of this subpara-
graph— 
‘‘(I) population shall be deter-
mined on the basis of the most recent 
decennial census for which data are 
available, 
‘‘(II) area median gross income 
shall be determined in accordance 
with subsection (g)(4), 
‘‘(III) the term ‘metropolitan sta-
tistical area’ has the same meaning as 
when used in section 143(k)(2)(B), 
and 
‘‘(IV) the term ‘nonmetropolitan 
area’ means any county (or portion 
thereof) which is not within a metro-
politan statistical area. 
‘‘(v) 
BUILDINGS
DESIGNATED
BY 
STATE
HOUSING
CREDIT
AGENCY.—Any 
building which is designated by the State 
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housing credit agency as requiring the in-
crease in credit under this subparagraph in 
order for such building to be financially 
feasible as part of a qualified middle-in-
come housing project shall be treated for 
purposes of this subparagraph as located 
in a difficult development area which is 
designated for purposes of this subpara-
graph. 
‘‘(5) CREDIT ALLOWABLE FOR CERTAIN BUILD-
INGS ACQUIRED DURING 10-YEAR PERIOD.—On ap-
plication by the taxpayer, the Secretary may waive 
paragraph (2)(B)(ii) with respect to any building ac-
quired from an insured depository institution in de-
fault (as defined in section 3 of the Federal Deposit 
Insurance Act) or from a receiver or conservator of 
such an institution. 
‘‘(6) ACQUISITION OF BUILDING BEFORE END 
OF PRIOR CREDIT PERIOD.— 
‘‘(A) IN
GENERAL.—Under regulations 
prescribed by the Secretary, in the case of a 
building described in subparagraph (B) (or in-
terest therein) which is acquired by the tax-
payer— 
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‘‘(i) paragraph (2)(B) shall not apply, 
but 
‘‘(ii) the credit allowable by reason of 
subsection (a) to the taxpayer for any pe-
riod after such acquisition shall be equal to 
the amount of credit which would have 
been allowable under subsection (a) for 
such period to the prior owner referred to 
in subparagraph (B) had such owner not 
disposed of the building. 
‘‘(B) 
DESCRIPTION
OF
BUILDING.—A 
building is described in this subparagraph if— 
‘‘(i) a credit was allowed by reason of 
subsection (a) to any prior owner of such 
building, and 
‘‘(ii) the taxpayer acquired such build-
ing before the end of the credit period for 
such building with respect to such prior 
owner (determined without regard to any 
disposition by such prior owner). 
‘‘(e) REHABILITATION EXPENDITURES TREATED AS 
SEPARATE NEW BUILDING.— 
‘‘(1) IN GENERAL.—Rehabilitation expenditures 
paid or incurred by the taxpayer with respect to any 
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building shall be treated for purposes of this section 
as a separate new building. 
‘‘(2) REHABILITATION
EXPENDITURES.—For 
purposes of paragraph (1)— 
‘‘(A) IN GENERAL.—The term ‘rehabilita-
tion expenditures’ means amounts chargeable to 
capital account and incurred for property (or 
additions or improvements to property) of a 
character subject to the allowance for deprecia-
tion in connection with the rehabilitation of a 
building. 
‘‘(B) COST OF ACQUISITION, ETC., NOT IN-
CLUDED.—Such term does not include the cost 
of acquiring any building (or interest therein) 
or any amount not permitted to be taken into 
account under paragraph (3) of subsection (d). 
‘‘(C) CERTAIN
RELOCATION
COSTS.—In 
the case of a rehabilitation of a building to 
which section 280B does not apply, costs relat-
ing to the relocation of occupants, including— 
‘‘(i) amounts paid to occupants, 
‘‘(ii) amounts paid to third parties for 
services relating to such relocation, and 
‘‘(iii) amounts paid for temporary 
housing for occupants, 
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shall be treated as chargeable to capital account 
and taken into account as rehabilitation ex-
penditures. 
‘‘(3) MINIMUM EXPENDITURES TO QUALIFY.— 
‘‘(A) IN
GENERAL.—Paragraph (1) shall 
apply to rehabilitation expenditures with respect 
to any building only if— 
‘‘(i) the expenditures are allocable to 
1 or more middle-income units or substan-
tially benefit such units, and 
‘‘(ii) the amount of such expenditures 
during any 24-month period meets the re-
quirements of whichever of the following 
subclauses requires the greater amount of 
such expenditures: 
‘‘(I) The requirement of this sub-
clause is met if such amount is not 
less than 20 percent of the adjusted 
basis of the building (determined as of 
the 1st day of such period and with-
out regard to paragraphs (2) and (3) 
of section 1016(a)). 
‘‘(II) The requirement of this 
subclause is met if the qualified basis 
attributable to such amount, when di-
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vided by the number of middle-income 
units in the building, is equal to or 
greater than the dollar amount in ef-
fect under section 42(e)(3)(A)(ii)(II) 
for the calendar year in which such 
expenditures are treated as placed in 
service under paragraph (4). 
‘‘(B) DATE OF DETERMINATION.—The de-
termination under subparagraph (A) shall be 
made as of the close of the 1st taxable year in 
the credit period with respect to such expendi-
tures. 
‘‘(4) SPECIAL RULES.—For purposes of apply-
ing this section with respect to expenditures which 
are treated as a separate building by reason of this 
subsection— 
‘‘(A) such expenditures shall be treated as 
placed in service at the close of the 24-month 
period referred to in paragraph (3)(A), and 
‘‘(B) the applicable fraction under sub-
section (c)(1) shall be the applicable fraction for 
the building (without regard to paragraph (1)) 
with respect to which the expenditures were in-
curred. 
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Nothing in subsection (d)(2) shall prevent a credit 
from being allowed by reason of this subsection. 
‘‘(5) NO
DOUBLE
COUNTING.—Rehabilitation 
expenditures may, at the election of the taxpayer, be 
taken into account under this subsection or sub-
section (d)(2)(A)(i) but not under both such sub-
sections. 
‘‘(6) REGULATIONS
TO
APPLY
SUBSECTION 
WITH RESPECT TO GROUP OF UNITS IN BUILDING.— 
The Secretary may prescribe regulations, consistent 
with the purposes of this subsection, treating a 
group of units with respect to which rehabilitation 
expenditures are incurred as a separate new build-
ing. 
‘‘(f) DEFINITION AND SPECIAL RULES RELATING TO 
CREDIT PERIOD.— 
‘‘(1) CREDIT PERIOD DEFINED.—For purposes 
of this section, the term ‘credit period’ means, with 
respect to any building, the period of 15 taxable 
years beginning with— 
‘‘(A) the taxable year in which the building 
is placed in service, or 
‘‘(B) at the election of the taxpayer, the 
succeeding taxable year, 
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but only if the building is a qualified middle-income 
building as of the close of the 1st year of such pe-
riod. The election under subparagraph (B), once 
made, shall be irrevocable. 
‘‘(2) SPECIAL RULE FOR 1ST YEAR OF CREDIT 
PERIOD.— 
‘‘(A) IN GENERAL.—The credit allowable 
under subsection (a) with respect to any build-
ing for the 1st taxable year of the credit period 
shall be determined by substituting for the ap-
plicable fraction under subsection (c)(1) the 
fraction— 
‘‘(i) the numerator of which is the 
sum of the applicable fractions determined 
under subsection (c)(1) as of the close of 
each full month of such year during which 
such building was in service, and 
‘‘(ii) the denominator of which is 12. 
‘‘(B) DISALLOWED 1ST-YEAR CREDIT AL-
LOWED IN 16TH YEAR.—Any reduction by rea-
son of subparagraph (A) in the credit allowable 
(without regard to subparagraph (A)) for the 
1st taxable year of the credit period shall be al-
lowable under subsection (a) for the 1st taxable 
year following the credit period. 
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‘‘(4) DISPOSITIONS OF PROPERTY.—If a build-
ing (or an interest therein) is disposed of during any 
year for which credit is allowable under subsection 
(a), such credit shall be allocated between the par-
ties on the basis of the number of days during such 
year the building (or interest) was held by each. 
‘‘(5) CREDIT PERIOD FOR EXISTING BUILDINGS 
NOT
TO
BEGIN
BEFORE
REHABILITATION
CREDIT 
ALLOWED.— 
‘‘(A) IN GENERAL.—The credit period for 
an existing building shall not begin before the 
1st taxable year of the credit period for reha-
bilitation expenditures with respect to the build-
ing. 
‘‘(B) ACQUISITION CREDIT ALLOWED FOR 
CERTAIN
BUILDINGS
NOT
ALLOWED
A
REHA-
BILITATION CREDIT.— 
‘‘(i) IN GENERAL.—In the case of a 
building described in clause (ii)— 
‘‘(I) 
subsection 
(d)(2)(B)(iv) 
shall not apply, and 
‘‘(II) the credit period for such 
building shall not begin before the 
taxable year which would be the 1st 
taxable year of the credit period for 
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rehabilitation expenditures with re-
spect to the building under the modi-
fications described in clause (ii)(II). 
‘‘(ii) BUILDING DESCRIBED.—A build-
ing is described in this clause if— 
‘‘(I) a waiver is granted under 
subsection (d)(4) with respect to the 
acquisition of the building, and 
‘‘(II) a credit would be allowed 
for rehabilitation expenditures with 
respect to such building if subsection 
(e)(3)(A)(ii)(I) did not apply and if 
the dollar amount in effect under sub-
section (e)(3)(A)(ii)(II) were two- 
thirds of such amount. 
‘‘(g) 
QUALIFIED
MIDDLE-INCOME
HOUSING 
PROJECT.—For purposes of this section— 
‘‘(1) IN GENERAL.—The term ‘qualified middle- 
income housing project’ means any project for resi-
dential rental property if— 
‘‘(A) 60 percent or more of the residential 
units in such project are both rent-restricted 
and occupied by individuals whose income is 
100 percent or less of area median gross in-
come, and 
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‘‘(B) not less than 20 percent of the resi-
dential units in such project are units which— 
‘‘(i) are described in subparagraph 
(A), and 
‘‘(ii) are not residential units which 
are taken into account under section 42. 
‘‘(2) RENT-RESTRICTED UNITS.— 
‘‘(A) IN GENERAL.—For purposes of para-
graph (1), a residential unit is rent-restricted if 
the gross rent with respect to such unit does 
not exceed 30 percent of the imputed income 
limitation applicable to such unit. For purposes 
of the preceding sentence, the amount of the in-
come limitation under paragraph (1) applicable 
for any period shall not be less than such limi-
tation applicable for the earliest period the 
building (which contains the unit) was included 
in the determination of whether the project is 
a qualified middle-income housing project. 
‘‘(B) GROSS RENT.—For purposes of sub-
paragraph (A), gross rent— 
‘‘(i) includes any utility allowance de-
termined by the Secretary after taking into 
account such determinations under section 
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8 of the United States Housing Act of 
1937, 
‘‘(ii) does not include any fee for a 
supportive service which is paid to the 
owner of the unit (on the basis of the mid-
dle-income status of the tenant of the unit) 
by any governmental program of assistance 
(or by an organization described in section 
501(c)(3) and exempt from tax under sec-
tion 501(a)) if such program (or organiza-
tion) provides assistance for rent and the 
amount of assistance provided for rent is 
not separable from the amount of assist-
ance provided for supportive services, and 
‘‘(iii) does not include any rental pay-
ment to the owner of the unit to the extent 
such owner pays an equivalent amount to 
the Farmers’ Home Administration under 
section 515 of the Housing Act of 1949. 
For purposes of clause (ii), the term ‘supportive 
service’ means any service provided under a 
planned program of services designed to enable 
residents of a residential rental property to re-
main independent and avoid placement in a 
hospital, nursing home, or intermediate care fa-
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cility for the mentally or physically handi-
capped. 
‘‘(C) IMPUTED INCOME LIMITATION APPLI-
CABLE TO UNIT.—For purposes of this para-
graph, the imputed income limitation applicable 
to a unit is the income limitation which would 
apply under paragraph (1) to individuals occu-
pying the unit if the number of individuals oc-
cupying the unit were as follows: 
‘‘(i) In the case of a unit which does 
not have a separate bedroom, 1 individual. 
‘‘(ii) In the case of a unit which has 
1 or more separate bedrooms, 1.5 individ-
uals for each separate bedroom. 
In the case of a project with respect to which 
a credit is allowable by reason of this section 
and for which financing is provided by a bond 
described in section 142(a)(7), the imputed in-
come limitation shall apply in lieu of the other-
wise applicable income limitation for purposes 
of applying section 142(d)(4)(B)(ii). 
‘‘(D) TREATMENT OF UNITS OCCUPIED BY 
INDIVIDUALS
WHOSE
INCOMES
RISE
ABOVE 
LIMIT.— 
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‘‘(i) IN
GENERAL.—Except as pro-
vided in clause (ii), notwithstanding an in-
crease in the income of the occupants of a 
middle-income unit above the income limi-
tation applicable under paragraph (1), 
such unit shall continue to be treated as a 
middle-income unit if the income of such 
occupants initially met such income limita-
tion and such unit continues to be rent-re-
stricted. 
‘‘(ii) NEXT AVAILABLE UNIT MUST BE 
RENTED
TO
MIDDLE-INCOME
TENANT
IF 
INCOME RISES ABOVE 140 PERCENT OF IN-
COME LIMIT.—If the income of the occu-
pants of the unit increases above 140 per-
cent of the income limitation applicable 
under paragraph (1), clause (i) shall cease 
to apply to such unit if any residential 
rental unit in the building (of a size com-
parable to, or smaller than, such unit) is 
occupied by a new resident whose income 
exceeds such income limitation. 
‘‘(3) DATE FOR MEETING REQUIREMENTS.— 
‘‘(A) IN GENERAL.—Except as otherwise 
provided in this paragraph, a building shall be 
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