qualified rehabilitation
Defined in 1 dictionary — U.S. Code
United States Code
26 U.S.C. § 143 — for purposes of this section (6 versions over time)
For purposes of subparagraph (A), the term “qualified rehabilitation” means any rehabilitation of a building if—
(i) there is a period of at least 20 years between the date on which the building was first used and the date on which the physical work on such rehabilitation begins,
(ii) in the rehabilitation process—
(I) 50 percent or more of the existing external walls of such building are retained in place as external walls,
(II) 75 percent or more of the existing external walls of such building are retained in place as internal or external walls, and
(III) 75 percent or more of the existing internal structural framework of such building is retained in place, and
(iii) the expenditures for such rehabilitation are 25 percent or more of the mortgagor’s adjusted basis in the residence.
26 U.S.C. § 25 — for purposes of this section
The term “qualified rehabilitation” has the meaning given such term by section 143(k)(5)(B).