qualified project costs
Defined in 2 places of the United States Code.
For purposes of this subsection, the term “qualified project costs” means—
(A) the cost of any qualified residential rental project (as defined in section 142(d)) located in the Gulf Opportunity Zone, and
(B) the cost of acquisition, construction, reconstruction, and renovation of—
(i) nonresidential real property (including fixed improvements associated with such property) located in the Gulf Opportunity Zone, and
(ii) public utility property (as defined in section 168(i)(10)) located in the Gulf Opportunity Zone.
Source
- 2005–present26 U.S.C. § 1400NInternal Revenue Code · Tax benefits for Gulf Opportunity Zone · for purposes of this title
The term “qualified project costs” means the cost of acquisition, construction, reconstruction, and renovation of—
(i) nonresidential real property and residential rental property (including fixed tenant improvements associated with such property) located in the New York Liberty Zone, and
(ii) public utility property (as defined in section 168(i)(10)) located in the New York Liberty Zone.
Source
- 2002–present26 U.S.C. § 1400LInternal Revenue Code · Tax benefits for New York Liberty Zone · for purposes of this title