Source: http://www.originalsources.com/Document.aspx?DocID=CJUAXEXGCAJSZNN
Timestamp: 2019-04-20 06:53:28+00:00

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If any portion of the qualified business credits determined for any taxable year has not, after the application of section 38(c), been allowed to the taxpayer as a credit under section 38 for any taxable year, an amount equal to the credit not so allowed shall be allowed to the taxpayer as a deduction for the first taxable year following the last taxable year for which such credit could, under section 39, have been allowed as a credit.
If a taxpayer dies or ceases to exist before the first taxable year following the last taxable year for which the qualified business credits could, under section 39, have been allowed as a credit, the amount described in subsection (a) (or the proper portion thereof) shall, under regulations prescribed by the Secretary, be allowed to the taxpayer as a deduction for the taxable year in which such death or cessation occurs.
(9) the new markets tax credit determined under section 45D(a).
(2) the research credit determined under section 41(a) for a taxable year beginning before January 1, 1990.
2000—Subsec. (c)(9). Pub. L. 106–554 added par. (9).
1998—Subsec. (c)(8). Pub. L. 105–206 added par. (8).
1996—Subsec. (c)(2). Pub. L. 104–188 substituted "work opportunity credit" for "targeted jobs credit".
1993—Subsec. (c)(6). Pub. L. 103–66, § 13302(b)(2), added par. (6).
Subsec. (c)(7). Pub. L. 103–66, § 13322(c)(2), added par. (7).
1990—Subsec. (c)(1). Pub. L. 101–508, § 11813(b)(12)(A), substituted "section 46" for "section 46(a)" and "section 50(c)" for "section 48(q)".
Subsec. (c)(5). Pub. L. 101–508, § 11511(b)(3), added par. (5).
Subsec. (d)(1). Pub. L. 101–508, § 11813(b)(12)(B), substituted "section 46" for "section 46(a)" and "other than the rehabilitation credit" for "other than a credit to which section 48(q)(3) applies".
1989—Subsec. (c)(4). Pub. L. 101–239, § 7814(e)(2)(D), inserted "(other than such credit determined under section 280C(c)(3))" after "section 41(a)".
Subsec. (d). Pub. L. 101–239, § 7814(e)(1), substituted "substituting `an amount equal to 50 percent of’ for `an amount equal to’ in the case of" for "substituting an amount equal to 50 percent of for an amount equal to in the case of" in introductory provisions.
Subsec. (d)(2). Pub. L. 101–239, § 7110(c)(2), inserted "for a taxable year beginning before January 1, 1990" after "under section 41(a)".
1988—Subsec. (c)(4). Pub. L. 100–647, § 4008(b)(2)(A), added par. (4).
Subsec. (d). Pub. L. 100–647, § 4008(b)(2)(B), inserted "and research credit" after "tax credit" in heading and amended text generally. Prior to amendment, text read as follows: "In the case of the investment credit determined under section 46(a) (other than a credit to which section 48(q)(3) applies), subsection (a) shall be applied by substituting `an amount equal to 50 percent of’ for `an amount equal to’."
1984—Pub. L. 98–369 amended section generally, substituting provisions relating to deduction for certain unused business credits for provisions relating to deduction for certain unused investment credits.
Amendment by Pub. L. 106–554 applicable to investments made after Dec. 31, 2000, see § 1(a)(7) [title I, § 121(e)] of Pub. L. 106–554, set out as a note under section 38 of this title.
Pub. L. 105–206, title VI, § 6020(b), July 22, 1998, 112 Stat. 823, provided that: "The amendment made by this section [amending this section] shall take effect as if included in the amendments made by section 13443 of the Revenue Reconciliation Act of 1993 [see section 13443(d) of Pub. L. 103–66, set out as an Effective Date of 1993 Amendment note under section 38 of this title]."
Amendment by section 13322(c)(2) of Pub. L. 103–66 applicable to wages paid or incurred after Dec. 31, 1993, see section 13322(f) of Pub. L. 103–66, set out as a note under section 38 of this title.
Amendment by section 11511(b)(3) of Pub. L. 101–508 applicable to costs paid or incurred in taxable years beginning after Dec. 31, 1990, see section 11511(d)(1) of Pub. L. 101–508, set out as an Effective Date note under section 43 of this title.
Amendment by section 11813(b)(12) of Pub. L. 101–508 applicable to property placed in service after Dec. 31, 1990, but not applicable to any transition property (as defined in section 49(e) of this title), any property with respect to which qualified progress expenditures were previously taken into account under section 46(d) of this title, and any property described in section 46(b)(2)(C) of this title, as such sections were in effect on Nov. 4, 1990, see section 11813(c) of Pub. L. 101–508, set out as a note under section 29 of this title.
Amendment by section 7110(c)(2) of Pub. L. 101–239 applicable to taxable years beginning after Dec. 31, 1989, see section 7110(e) of Pub. L. 101–239, set out as a note under section 41 of this title.
Amendment by section 7814(e)(1), (2)(D) of Pub. L. 101–239 effective, except as otherwise provided, as if included in the provision of the Technical and Miscellaneous Revenue Act of 1988, Pub. L. 100–647, to which such amendment relates, see section 7817 of Pub. L. 101–239, set out as a note under section 1 of this title.
Amendment by Pub. L. 100–647 applicable to taxable years beginning after Dec. 31, 1988, see section 4008(d) of Pub. L. 100–647, set out as a note under section 41 of this title.
"(A) General rule.—Except as otherwise provided in this paragraph, the amendments made by subsection (a) [enacting this section and amending sections 48, 312, and 1016 of this title] shall apply to periods after December 31, 1982, under rules similar to the rules of section 48(m) of the Internal Revenue Code of 1986 [formerly I.R.C. 1954].
"(iv) is not described in section 167(l)(3)(A) of such Code.
"(II) during the period beginning after August 13, 1981, and ending on July 1, 1982, the taxpayer constructed (or entered into binding contracts for the construction of) more than 20 percent of the cost of such facility.
"(II) for the manufacture of 1 or more manufactured products from raw materials by the application of 2 or more integrated manufacturing processes.
"(III) such property is placed in service before July 1, 1984."
For provisions that nothing in amendment by section 11813(b)(12) of Pub. L. 101–508 be construed to affect treatment of certain transactions occurring, property acquired, or items of income, loss, deduction, or credit taken into account prior to Nov. 5, 1990, for purposes of determining liability for tax for periods ending after Nov. 5, 1990, see section 11821(b) of Pub. L. 101–508, set out as a note under section 29 of this title.
Chicago: "U.S. Congress, Office of the Law Revision Counsel", "§ 196. Deduction for Certain Unused Business Credits," U.S. Code, Title 26, Internal Revenue Code in U.S. Code, Title 26, Internal Revenue Code (Washington, D.C.: Government Printing Office, 2002), Original Sources, accessed April 20, 2019, http://www.originalsources.com/Document.aspx?DocID=CJUAXEXGCAJSZNN.
MLA: "U.S. Congress, Office of the Law Revision Counsel". "§ 196. Deduction for Certain Unused Business Credits." U.S. Code, Title 26, Internal Revenue Code, in U.S. Code, Title 26, Internal Revenue Code, Washington, D.C., Government Printing Office, 2002, Original Sources. 20 Apr. 2019. www.originalsources.com/Document.aspx?DocID=CJUAXEXGCAJSZNN.
Harvard: "U.S. Congress, Office of the Law Revision Counsel", '§ 196. Deduction for Certain Unused Business Credits' in U.S. Code, Title 26, Internal Revenue Code. cited in 2002, U.S. Code, Title 26, Internal Revenue Code, Government Printing Office, Washington, D.C.. Original Sources, retrieved 20 April 2019, from http://www.originalsources.com/Document.aspx?DocID=CJUAXEXGCAJSZNN.

References: § 13302
 § 13322
 § 11813
 § 11511
 § 11813
 § 7814
 § 7814
 § 7110
 § 4008
 § 4008
 § 1
 § 121
 § 6020