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tax-exempt use property

Defined in 2 places of the United States Code.

Except as otherwise provided in this subsection, the term “tax-exempt use property” means that portion of any tangible property (other than nonresidential real property) leased to a tax-exempt entity.

Source

In the case of nonresidential real property, the term “tax-exempt use property” means that portion of the property leased to a tax-exempt entity in a disqualified lease.

Source

The term “tax-exempt use property” has the meaning given to such term by section 168(h), except that such section shall be applied—

(A) without regard to paragraphs (1)(C) and (3) thereof, and

(B) as if property described in—

(i) section 167(f)(1)(B),

(ii) section 167(f)(2), and

(iii) section 197 intangible,

were tangible property.

Such term shall not include property which would (but for this sentence) be tax-exempt use property solely by reason of section 168(h)(6) if any credit is allowable under section 42 or 47 with respect to such property.

This section shall not apply to any lease of property which meets the requirements of all of the following paragraphs:

Source

  • 2005–200726 U.S.C. § 470Internal Revenue Code · Limitation on deductions allocable to property used by governments or other tax-exempt entities · for purposes of this section

The term “tax-exempt use property” has the meaning given to such term by section 168(h), except that such section shall be applied—

(i) without regard to paragraphs (1)(C) and (3) thereof, and

(ii) as if section 197 intangible property (as defined in section 197), and property described in paragraph (1)(B) or (2) of section 167(f), were tangible property.

Source

  • 2007–present26 U.S.C. § 470Internal Revenue Code · Limitation on deductions allocable to property used by governments or other tax-exempt entities · for purposes of this section