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26 U.S.C. § 1397A — Increase in expensing under section 179
Federal law — U.S. Code and appendices · legal_authorities
**(a) General rule** In the case of an enterprise zone business, for purposes of section 179—
(1) the limitation under section 179(b)(1) shall be increased by the lesser of—
(A) $35,000, or
(B) the cost of section 179 property which is qualified zone property placed in service during the taxable year, and
(2) the amount taken into account under section 179(b)(2) with respect to any section 179 property which is qualified zone property shall be 50 percent of the cost thereof.
**(b) Recapture** Rules similar to the rules under section 179(d)(10) shall apply with respect to any qualified zone property which ceases to be used in an empowerment zone by an enterprise zone business.
**(c) Termination** This section shall not apply to any property placed in service in taxable years beginning after December 31, 2020.
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Source file: Laws/federal/codes/united-states-code/title-26/section-1397a-increase-in-expensing-under-section-179--a8e7f30269.md
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Source location: Title 26, Chapter 1, § 1397A; chapter-001-normal-taxes-and-surtaxes.md
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**(a) General rule** In the case of an enterprise zone business, for purposes of section 179—
(1) the limitation under section 179(b)(1) shall be increased by the lesser of—
(A) $35,000, or
(B) the cost of section 179 property which is qualified zone property placed in service during the taxable year, and
(2) the amount taken into account under section 179(b)(2) with respect to any section 179 property which is qualified zone property shall be 50 percent of the cost thereof.
**(b) Recapture** Rules similar to the rules under section 179(d)(10) shall apply with respect to any qualified zone property which ceases to be used in an empowerment zone by an enterprise zone business.
**(c) Termination** This section shall not apply to any property placed in service in taxable years beginning after December 31, 2020.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** From among the areas nominated for designation under this section, the appropriate Secretaries may designate empowerment zones and enterprise communities.
**(b) Number of designations**
(1) **Enterprise communities** — The appropriate Secretaries may designate in the aggregate 95 nominated areas as enterprise communities under this section, subject to the availability of eligible nominated areas. Of that number, not more than 65 may be designated in urban areas and not more than 30 may be designated in rural areas.
(2) **Empowerment zones** — The appropriate Secretaries may designate in the aggregate 11 nominated areas as empowerment zones under this section, subject to the availability of eligible nominated areas. Of that number, not more than 8 may be designated in urban areas and not more than 3 may be designated in rural areas. If 8 empowerment zones are designated in urban areas, no less than 1 shall be designated in an urban area the most populous city of which has a population of 500,000 or less and no less than 1 shall be a nominated area which includes areas in 2 States and which has a population of 50,000 or less. The Secretary of Housing and Urban Development shall designate empowerment zones located in urban areas in such a manner that the aggregate population of all such zones does not exceed 1,000,000.
**(c) Period designations may be made** A designation may be made under subsection (a) only after 1993 and before 1996.
**(d) Period for which designation is in effect**
(1) **In general** — Any designation under this section shall remain in effect during the period beginning on the date of the designation and ending on the earliest of—
(A)
(i) in the case of an empowerment zone, December 31, 2025, or
(ii) in the case of
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 1391
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Federal law — U.S. Code and appendices · legal_authorities
Page 2487
TITLE 26—INTERNAL REVENUE CODE
§ 1397A
1997, 111 Stat. 885, 887; Pub. L. 106–554, § 1(a)(7)
[title I, § 113(a), (b)], Dec. 21, 2000, 114 Stat. 2763,
2763A–601.)
Editorial Notes
REFERENCES IN TEXT
The Taxpayer Relief Act of 1997, referred to in subsec.
(b)(2), is Pub. L. 105–34, Aug. 5, 1997, 111 Stat. 788. For
complete classification of this Act to the Code, see Ta-
bles.
PRIOR PROVISIONS
A prior section 1396, added Pub. L. 95–600, title VI,
§ 601(a), Nov. 6, 1978, 92 Stat. 2895; amended Pub. L.
96–595, § 3(a)(6), (9), (10), Dec. 24, 1980, 94 Stat. 3465, re-
lated to minimum distributions by an electing general
stock ownership corporation, prior to repeal by Pub. L.
99–514, title XIII, § 1303(a), Oct. 22, 1986, 100 Stat. 2658.
AMENDMENTS
2000—Subsec. (b). Pub. L. 106–554, § 1(a)(7) [title I,
§ 113(a)], amended subsec. (b) generally, substituting
provisions establishing an applicable percentage of 20
percent for provisions setting out tables for deter-
mining the applicable percentage.
Subsec. (e). Pub. L. 106–554, § 1(a)(7) [title I, § 113(b)],
struck out heading and text of subsec. (e). Text read as
follows: ‘‘This section shall be applied without regard
to any empowerment zone designated under section
1391(g).’’
1997—Subsec. (b). Pub. L. 105–34 substituted ‘‘For pur-
poses of this section—
‘‘(1) IN GENERAL.—Except as provided in paragraph
(2), the term ‘applicable percentage’ means the per-
centage determined in accordance with the following
table:’’
for ‘‘For purposes of this section, the term ‘applicable
percentage’ means the percentage determined in ac-
cordance with the following table:’’ and added par. (2).
Subsec. (e). Pub. L. 105–34, § 952(b), added subsec. (e).
1996—Subsec. (c)(3). Pub. L. 104–188 substituted ‘‘work
oppor
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 1397A
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