dreamproit/uscode huggingface dataset:
26 U.S.C. § 1397D (INTERNAL REVENUE CODE)
§ 1397D. Qualified zone property defined
(a) General rule
For purposes of this part—
(1) In general
The term “qualified zone property” means any property to which section 168 applies (or would apply but for section 179) if—
(A) such property was acquired by the taxpayer by purchase (as defined in section 179(d)(2)) after the date on which the designation of the empowerment zone took effect,
(B) the original use of which in an empowerment zone commences with the taxpayer, and
(C) substantially all of the use of which is in an empowerment zone and is in the active conduct of a qualified business by the taxpayer in such zone.
(2) Special rule for substantial renovations
In the case of any property which is substantially renovated by the taxpayer, the requirements of subparagraphs (A) and (B) of paragraph (1) shall be treated as satisfied. For purposes of the preceding sentence, property shall be treated as substantially renovated by the taxpayer if, during any 24-month period beginning after the date on which the designation of the empowerment zone took effect, additions to basis with respect to such property in the hands of the taxpayer exceed the greater of (i) an amount equal to the adjusted basis at the beginning of such 24-month period in the hands of the taxpayer, or (ii) $5,000.
(b) Special rules for sale-leasebacks
For purposes of subsection (a)(1)(B), if property is sold and leased back by the taxpayer within 3 months after the date such property was originally placed in service, such property shall be treated as originally placed in service not earlier than the date on which such property is used under the leaseback.
(Added Pub. L. 103–66, title XIII, § 13301(a), Aug. 10, 1993, 107 Stat. 554, § 1397C; renumbered § 1397D, Pub. L. 106–554, § 1(a)(7) [title I, § 116(a)(2)], Dec. 21, 2000, 114 Stat. 2763, 2763A–602.)
heading: Prior Provisions
text: A prior section 1397D was renumbered section 1397F of this title.
heading: Amendments
text: 2000—Pub. L. 106–554 renumbered section 1397C of this title as this section.
26 U.S.C. § 1397F (INTERNAL REVENUE CODE)
§ 1397F. Regulations
The Secretary shall prescribe such regulations as may be necessary or appropriate to carry out the purposes of parts II and III, including—
(1) regulations limiting the benefit of parts II and III in circumstances where such benefits, in combination with benefits provided under other Federal programs, would result in an activity being 100 percent or more subsidized by the Federal Government,
(2) regulations preventing abuse of the provisions of parts II and III, and
(3) regulations dealing with inadvertent failures of entities to be enterprise zone businesses.
(Added Pub. L. 103–66, title XIII, § 13301(a), Aug. 10, 1993, 107 Stat. 555, § 1397D; renumbered § 1397F, Pub. L. 105–34, title II, § 226(a), Aug. 5, 1997, 111 Stat. 820; amended Pub. L. 105–206, title VI, § 6004(g)(1), July 22, 1998, 112 Stat. 796.)
heading: Amendments
text: 1998—Pub. L. 105–206 amended directory language of Pub. L. 105–34, § 226(a). See 1997 Amendment note below.
1997—Pub. L. 105–34, § 226(a), as amended by Pub. L. 105–206, renumbered section 1397D of this title as this section.
26 U.S.C. § 1399 (INTERNAL REVENUE CODE)
§ 1399. No separate taxable entities for partnerships, corporations, etc.
Except in any case to which section 1398 applies, no separate taxable entity shall result from the commencement of a case under title 11 of the United States Code.
(Added Pub. L. 96–589, § 3(a)(1), Dec. 24, 1980, 94 Stat. 3400.)
26 U.S.C. § 1400A (INTERNAL REVENUE CODE)
§ 1400A. Tax-exempt economic development bonds
(a) In general
In the case of the District of Columbia Enterprise Zone, subparagraph (A) of section 1394(c)(1) (relating to limitation on amount of bonds) shall be applied by substituting “$15,000,000” for “$3,000,000” and section 1394(b)(3)(B)(iii) shall be applied without regard to the employee residency requirement.
(b) Period of applicability
This section shall apply to bonds issued during the period beginning on January 1, 1998, and ending on December 31, 2011.
(Added Pub. L. 105–34, title VII, § 701(a), Aug. 5, 1997, 111 Stat. 864; amended Pub. L. 105–206, title VI, § 6008(b), July 22, 1998, 112 Stat. 811; Pub. L. 106–554, § 1(a)(7) [title I, § 164(a)(2)], Dec. 21, 2000, 114 Stat. 2763, 2763A–625; Pub. L. 108–311, title III, § 310(b), Oct. 4, 2004, 118 Stat. 1180; Pub. L. 109–432, div. A, title I, § 110(b)(1), Dec. 20, 2006, 120 Stat. 2939; Pub. L. 110–343, div. C, title III, § 322(b)(1), Oct. 3, 2008, 122 Stat. 3873; Pub. L. 111–312, title VII, § 754(b), Dec. 17, 2010, 124 Stat. 3321.)
heading: Amendments
text: 2010—Subsec. (b). Pub. L. 111–312 substituted “2011” for “2009”.
2008—Subsec. (b). Pub. L. 110–343 substituted “2009” for “2007”.
2006—Subsec. (b). Pub. L. 109–432 substituted “2007” for “2005”.
2004—Subsec. (b). Pub. L. 108–311 substituted “2005” for “2003”.
2000—Subsec. (b). Pub. L. 106–554 substituted “2003” for “2002”.
1998—Subsec. (a). Pub. L. 105–206 inserted before the period at end “and section 1394(b)(3)(B)(iii) shall be applied without regard to the employee residency requirement”.
heading: Effective Date of 2010 Amendment
text: Amendment by Pub. L. 111–312 applicable to bonds issued after Dec. 31, 2009, see section 754(e)(2) of Pub. L. 111–312, set out as a note under section 1400 of this title.
heading: Effective Date of 2008 Amendment
text: Pub. L. 110–343, div. C, title III, § 322(b)(2), Oct. 3, 2008, 122 Stat. 3874, provided that: “The amendment made by this subsection [amending this section] shall apply to bonds issued after December 31, 2007.”
heading: Effective Date of 2006 Amendment
text: Pub. L. 109–432, div. A, title I, § 110(b)(2), Dec. 20, 2006, 120 Stat. 2939, provided that: “The amendment made by this subsection [amending this section] shall apply to bonds issued after December 31, 2005.”
heading: Effective Date of 2004 Amendment
text: Amendment by Pub. L. 108–311 applicable to obligations issued after Oct. 4, 2004, see section 310(e)(2) of Pub. L. 108–311, set out as a note under section 1400 of this title.
heading: Effective Date of 1998 Amendment
text: Amendment by Pub. L. 105–206 effective, except as otherwise provided, as if included in the provisions of the Taxpayer Relief Act of 1997, Pub. L. 105–34, to which such amendment relates, see section 6024 of Pub. L. 105–206, set out as a note under section 1 of this title.
26 U.S.C. § 1400G (INTERNAL REVENUE CODE)
§ 1400G. Renewal community business defined
For purposes of this subchapter, the term “renewal community business” means any entity or proprietorship which would be a qualified business entity or qualified proprietorship under section 1397C if references to renewal communities were substituted for references to empowerment zones in such section.
(Added Pub. L. 106–554, § 1(a)(7) [title I, § 101(a)], Dec. 21, 2000, 114 Stat. 2763, 2763A–596.)
26 U.S.C. § 1400H (INTERNAL REVENUE CODE)
§ 1400H. Renewal community employment credit
(a) In general
Subject to the modification in subsection (b), a renewal community shall be treated as an empowerment zone for purposes of section 1396 with respect to wages paid or incurred after December 31, 2001.
(b) Modification
In applying section 1396 with respect to renewal communities—
(1) the applicable percentage shall be 15 percent, and
(2) subsection (c) thereof shall be applied by substituting “$10,000” for “$15,000” each place it appears.
(Added Pub. L. 106–554, § 1(a)(7) [title I, § 101(a)], Dec. 21, 2000, 114 Stat. 2763, 2763A–596.)
26 U.S.C. § 1400J (INTERNAL REVENUE CODE)
§ 1400J. Increase in expensing under section 179
(a) In general
For purposes of section 1397A—
(1) a renewal community shall be treated as an empowerment zone,
(2) a renewal community business shall be treated as an enterprise zone business, and
(3) qualified renewal property shall be treated as qualified zone property.
(b) Qualified renewal property
For purposes of this section—
(1) In general
The term “qualified renewal property” means any property to which section 168 applies (or would apply but for section 179) if—
(A) 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
(B) 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.)
26 U.S.C. § 1400M (INTERNAL REVENUE CODE)
§ 1400M. Definitions
For purposes of this part—
(1) Gulf Opportunity Zone
The terms “Gulf Opportunity Zone” and “GO Zone” mean that portion of the Hurricane Katrina disaster area determined by the President to warrant individual or individual and public assistance from the Federal Government under the Robert T. Stafford Disaster Relief and Emergency Assistance Act by reason of Hurricane Katrina.
(2) Hurricane Katrina disaster area
The term “Hurricane Katrina disaster area” means an area with respect to which a major disaster has been declared by the President before September 14, 2005, under section 401 of such Act by reason of Hurricane Katrina.
(3) Rita GO Zone
The term “Rita GO Zone” means that portion of the Hurricane Rita disaster area determined by the President to warrant individual or individual and public assistance from the Federal Government under such Act by reason of Hurricane Rita.
(4) Hurricane Rita disaster area
The term “Hurricane Rita disaster area” means an area with respect to which a major disaster has been declared by the President before October 6, 2005, under section 401 of such Act by reason of Hurricane Rita.
(5) Wilma GO Zone
The term “Wilma GO Zone” means that portion of the Hurricane Wilma disaster area determined by the President to warrant individual or individual and public assistance from the Federal Government under such Act by reason of Hurricane Wilma.
(6) Hurricane Wilma disaster area
The term “Hurricane Wilma disaster area” means an area with respect to which a major disaster has been declared by the President before November 14, 2005, under section 401 of such Act by reason of Hurricane Wilma.
(Added Pub. L. 109–135, title I, § 101(a), Dec. 21, 2005, 119 Stat. 2578.)
heading: References in Text
text: The Robert T. Stafford Disaster Relief and Emergency Assistance Act, referred to in text, is Pub. L. 93–288, May 22, 1974, 88 Stat. 143, as amended, which is classified principally to chapter 68 (§ 5121 et seq.) of Title 42, The Public Health and Welfare. Section 401 of the Act is classified to section 5170 of Title 42. For complete classification of this Act to the Code, see Short Title note set out under section 5121 of Title 42 and Tables.
heading: Effective Date
text: Section applicable to taxable years ending on or after August 28, 2005, see section 101(c)(1) of Pub. L. 109–135, set out as an Effective Date note under section 1400N of this title.
26 U.S.C. § 1400O (INTERNAL REVENUE CODE)
§ 1400O. Education tax benefits
In the case of an individual who attends an eligible educational institution (as defined in section 25A(f)(2)) located in the Gulf Opportunity Zone for any taxable year beginning during 2005 or 2006—
(1) in applying section 25A, the term “qualified tuition and related expenses” shall include any costs which are qualified higher education expenses (as defined in section 529(e)(3)),
(2) each of the dollar amounts in effect under subparagraphs (A) and (B) of section 25A(b)(1) shall be twice the amount otherwise in effect before the application of this subsection, and
(3) section 25A(c)(1) shall be applied by substituting “40 percent” for “20 percent”.
(Added Pub. L. 109–135, title I, § 102(a), Dec. 21, 2005, 119 Stat. 2594; amended Pub. L. 110–172, § 11(a)(26), Dec. 29, 2007, 121 Stat. 2487.)
heading: Amendments
text: 2007—Par. (2). Pub. L. 110–172 substituted “under” for “under of”.
26 U.S.C. § 1400P (INTERNAL REVENUE CODE)
§ 1400P. Housing tax benefits
(a) Exclusion of employer provided housing for individual affected by Hurricane Katrina
(1) In general
Gross income of a qualified employee shall not include the value of any lodging furnished in-kind to such employee (and such employee’s spouse or any of such employee’s dependents) by or on behalf of a qualified employer for any month during the taxable year.
(2) Limitation
The amount which may be excluded under paragraph (1) for any month for which lodging is furnished during the taxable year shall not exceed $600.
(3) Treatment of exclusion
The exclusion under paragraph (1) shall be treated as an exclusion under section 119 (other than for purposes of sections 3121(a)(19) and 3306(b)(14)).
(b) Employer credit for housing employees affected by Hurricane Katrina
For purposes of section 38, in the case of a qualified employer, the Hurricane Katrina housing credit for any month during the taxable year is an amount equal to 30 percent of any amount which is excludable from the gross income of a qualified employee of such employer under subsection (a) and not otherwise excludable under section 119.
(c) Qualified employee
For purposes of this section, the term “qualified employee” means, with respect to any month, an individual—
(1) who had a principal residence (as defined in section 121) in the Gulf Opportunity Zone on August 28, 2005, and
(2) who performs substantially all employment services—
(A) in the Gulf Opportunity Zone, and
(B) for the qualified employer which furnishes lodging to such individual.
(d) Qualified employer
For purposes of this section, the term “qualified employer” means any employer with a trade or business located in the Gulf Opportunity Zone.
(e) Certain rules to apply
For purposes of this subsection, rules similar to the rules of sections 51(i)(1) and 52 shall apply.
(f) Application of section
This section shall apply to lodging furnished during the period—
(1) beginning on the first day of the first month beginning after the date of the enactment of this section, and
(2) ending on the date which is 6 months after the first day described in paragraph (1).
(Added Pub. L. 109–135, title I, § 103(a), Dec. 21, 2005, 119 Stat. 2594.)
heading: References in Text
text: The date of the enactment of this section, referred to in subsec. (f)(1), is the date of enactment of Pub. L. 109–135, which was approved Dec. 21, 2005.
26 U.S.C. § 1400T (INTERNAL REVENUE CODE)
§ 1400T. Special rules for mortgage revenue bonds
(a) In general
In the case of financing provided with respect to owner-occupied residences in the GO Zone, the Rita GO Zone, or the Wilma GO Zone, section 143 shall be applied—
(1) by treating any such residence in the Rita GO Zone or the Wilma GO Zone as a targeted area residence,
(2) by applying subsection (f)(3) thereof without regard to subparagraph (A) thereof, and
(3) by substituting “$150,000” for “$15,000” in subsection (k)(4) thereof.
(b) Application
Subsection (a) shall not apply to financing provided after December 31, 2010.
(Added Pub. L. 109–135, title II, § 201(a), Dec. 21, 2005, 119 Stat. 2607.)
26 U.S.C. § 1400U–2 (INTERNAL REVENUE CODE)
§ 1400U–2. Recovery zone economic development bonds
(a) In general
In the case of a recovery zone economic development bond—
(1) such bond shall be treated as a qualified bond for purposes of section 6431, and
(2) subsection (b) of such section shall be applied by substituting “45 percent” for “35 percent”.
(b) Recovery zone economic development bond
(1) In general
For purposes of this section, the term “recovery zone economic development bond” means any build America bond (as defined in section 54AA(d)) issued before January 1, 2011, as part of issue if—
(A) 100 percent of the excess of—
(i) the available project proceeds (as defined in section 54A) of such issue, over
(ii) the amounts in a reasonably required reserve (within the meaning of section 150(a)(3)) with respect to such issue,
are to be used for one or more qualified economic development purposes, and
(B) the issuer designates such bond for purposes of this section.
(2) Limitation on amount of bonds designated
The maximum aggregate face amount of bonds which may be designated by any issuer under paragraph (1) shall not exceed the amount of the recovery zone economic development bond limitation allocated to such issuer under section 1400U–1.
(c) Qualified economic development purpose
For purposes of this section, the term “qualified economic development purpose” means expenditures for purposes of promoting development or other economic activity in a recovery zone, including—
(1) capital expenditures paid or incurred with respect to property located in such zone,
(2) expenditures for public infrastructure and construction of public facilities, and
(3) expenditures for job training and educational programs.
(Added Pub. L. 111–5, div. B, title I, § 1401(a), Feb. 17, 2009, 123 Stat. 349.)
26 U.S.C. § 1400U–3 (INTERNAL REVENUE CODE)
§ 1400U–3. Recovery zone facility bonds
(a) In general
For purposes of part IV of subchapter B (relating to tax exemption requirements for State and local bonds), the term “exempt facility bond” includes any recovery zone facility bond.
(b) Recovery zone facility bond
(1) In general
For purposes of this section, the term “recovery zone facility bond” means any bond issued as part of an issue if—
(A) 95 percent or more of the net proceeds (as defined in section 150(a)(3)) of such issue are to be used for recovery zone property,
(B) such bond is issued before January 1, 2011, and
(C) the issuer designates such bond for purposes of this section.
(2) Limitation on amount of bonds designated
The maximum aggregate face amount of bonds which may be designated by any issuer under paragraph (1) shall not exceed the amount of recovery zone facility bond limitation allocated to such issuer under section 1400U–1.
(c) Recovery zone property
For purposes of this section—
(1) In general
The term “recovery zone property” means any property to which section 168 applies (or would apply but for section 179) if—
(A) such property was constructed, reconstructed, renovated, or acquired by purchase (as defined in section 179(d)(2)) by the taxpayer after the date on which the designation of the recovery zone took effect,
(B) the original use of which in the recovery zone commences with the taxpayer, and
(C) substantially all of the use of which is in the recovery zone and is in the active conduct of a qualified business by the taxpayer in such zone.
(2) Qualified business
The term “qualified business” means any trade or business except that—
(A) the rental to others of real property located in a recovery zone shall be treated as a qualified business only if the property is not residential rental property (as defined in section 168(e)(2)), and
(B) such term shall not include any trade or business consisting of the operation of any facility described in section 144(c)(6)(B).
(3) Special rules for substantial renovations and sale-leaseback
Rules similar to the rules of subsections (a)(2) and (b) of section 1397D shall apply for purposes of this subsection.
(d) Nonapplication of certain rules
Sections 146 (relating to volume cap) and 147(d) (relating to acquisition of existing property not permitted) shall not apply to any recovery zone facility bond.
(Added Pub. L. 111–5, div. B, title I, § 1401(a), Feb. 17, 2009, 123 Stat. 350.)
26 U.S.C. § 1403 (INTERNAL REVENUE CODE)
§ 1403. Miscellaneous provisions
(a) Title of chapter
This chapter may be cited as the “Self-Employment Contributions Act of 1954”.
(b) Cross references
(1) For provisions relating to returns, see section 6017.
(2) For provisions relating to collection of taxes in Virgin Islands, Guam, American Samoa, and Puerto Rico, see section 7651.
(Aug. 16, 1954, ch. 736, 68A Stat. 355; Pub. L. 86–778, title I, § 103(m), Sept. 13, 1960, 74 Stat. 938; Pub. L. 89–368, title I, § 102(b)(6), Mar. 15, 1966, 80 Stat. 64; Pub. L. 98–369, div. A, title IV, § 412(b)(2), July 18, 1984, 98 Stat. 792.)
heading: Amendments
text: 1984—Subsec. (b)(3). Pub. L. 98–369 struck out par. (3) referring to section 6015 for provisions relating to declarations of estimated tax on self-employment income.
1966—Subsec. (b)(3). Pub. L. 89–368 added par. (3).
1960—Subsec. (b)(2). Pub. L. 86–778 included Guam and American Samoa.
heading: Effective Date of 1984 Amendment
text: Amendment by Pub. L. 98–369 applicable with respect to taxable years beginning after Dec. 31, 1984, see section 414(a)(1) of Pub. L. 98–369, set out as a note under section 6654 of this title.
heading: Effective Date of 1966 Amendment
text: Amendment by Pub. L. 89–368 applicable with respect to taxable years beginning after December 31, 1966, see section 102(d) of Pub. L. 89–368, set out as a note under section 6654 of this title.
26 U.S.C. § 1443 (INTERNAL REVENUE CODE)
§ 1443. Foreign tax-exempt organizations
(a) Income subject to section 511
In the case of income of a foreign organization subject to the tax imposed by section 511, this chapter shall apply to income includible under section 512 in computing its unrelated business taxable income, but only to the extent and subject to such conditions as may be provided under regulations prescribed by the Secretary.
(b) Income subject to section 4948
In the case of income of a foreign organization subject to the tax imposed by section 4948(a), this chapter shall apply, except that the deduction and withholding shall be at the rate of 4 percent and shall be subject to such conditions as may be provided under regulations prescribed by the Secretary.
(Aug. 16, 1954, ch. 736, 68A Stat. 358; Pub. L. 91–172, title I, §§ 101(j)(22), 121(d)(2)(C), Dec. 30, 1969, 83 Stat. 528, 547; Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834.)
heading: Amendments
text: 1976—Pub. L. 94–455 struck out “or his delegate” after “Secretary” in two places.
1969—Pub. L. 91–172, § 101(j)(22), designated existing provisions as subsec. (a) and added subsec. (b).
Subsec. (a). Pub. L. 91–172, § 121(d)(2)(C), substituted “income” for “rents” after “this chapter shall apply to”.
heading: Effective Date of 1969 Amendment
text: Amendment by section 101(j)(22) of Pub. L. 91–172 effective Jan. 1, 1970, see section 101(k)(1) of Pub. L. 91–172, set out as an Effective Date note under section 4940 of this title.
Amendment by section 121(d)(2)(C) of Pub. L. 91–172 applicable to taxable years beginning after Dec. 31, 1969, see section 121(g) of Pub. L. 91–172, set out as a note under section 511 of this title.
26 U.S.C. § 1444 (INTERNAL REVENUE CODE)
§ 1444. Withholding on Virgin Islands source income
For purposes of determining the withholding tax liability incurred in the Virgin Islands pursuant to this title (as made applicable to the Virgin Islands) with respect to amounts received from sources within the Virgin Islands by citizens and resident alien individuals of the United States, and corporations organized in the United States, the rate of withholding tax under sections 1441 and 1442 on income subject to tax under section 871(a)(1) or 881 shall not exceed the rate of tax on such income under section 871(a)(1) or 881, as the case may be.
(Added Pub. L. 97–455, § 1(b), Jan. 12, 1983, 96 Stat. 2497; amended Pub. L. 100–647, title I, § 1012(x), Nov. 10, 1988, 102 Stat. 3530.)
heading: Amendments
text: 1988—Pub. L. 100–647 struck out “(as modified by section 934A)” before “shall not exceed”.
heading: Effective Date of 1988 Amendment
text: Amendment by Pub. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 1019(a) of Pub. L. 100–647, set out as a note under section 1 of this title.
heading: Effective Date
text: Section applicable to payments made after Jan. 12, 1983, see section 1(e)(2) of Pub. L. 97–455, set out as a note under section 934 of this title.