PUBLIC LAW 96-223—APR. 2, 1980
94 STAT. 265
"(I) a seating capacity of more than 35 passengers (in addition to the driver), and "(11) 1 or more baggage compartments, separated from the passenger area, with a capacity of at least 200 cubic feet, and "(iii) which is used predominantly by the taxpayer in the trade or business of furnishing intercity passenger transportation or intercity charter service. "(C) OPERATING CAPACITY MUST INCREASE.—Under regulations prescribed by the Secretary— "(i) IN GENERAL.—The amount of qualified investment taken into account under paragraph (2)(A)(ix) for any taxable year shall not exceed the amount of the qualified investment which is attributable to an increase in the taxpayer's total operating^ seating capacity for the taxable year over such capacity as of the close of the preceding taxable year. "(ii) SPECIAL RULES.—The regulations prescribed under this subparagraph— "(I) shall provide that only buses used predominantly on a full-time basis in the trade or business of furnishing intercity passenger or intercity charter service shall be taken into account in determining the taxpayer's total operating seating capacity, and "(II) shall provide rules treating related taxpayers as 1 person." (i) TECHNICAL AMENDMENTS.— (1) PUBLIC UTILITY PROPERTY.—
(A) Paragraph (3) of section 48(1) is amended by striking 26 USC 48. out subparagraph (B) and by redesignating subparagraphs (C) and (D) as subparagraphs (B) and (C), respectively. (B) Subsection (1) of section 48 is amended by adding at the end thereof the following new paragraph: "(17) EXCLUSION FOR PUBLIC UTILITY PROPERTY.—The terms 'alternative energy property', 'biomass property', 'solar or wind energy property', recycling equipment', and 'cogeneration property* do not include property which is public utility property (within the meaning of section 46(fK5))." 26 USC 46. (2) OCEAN THERMAL PROPERTY.—Section 48(a)(2)(B) (relating to property used outside the United States) is amended— (A) by striking out "and" at the end of clause (ix), (B) by striking out the period at the end of clause (x) and inserting in lieu thereof", and", and (C) by inserting immediately after clause (x) the following new clause: "(xi) any property described in subsection (l)(3)(A)(ix) which is owned by a United States person and which is used in international or territorial waters to generate energy for use in the United States." (3) POLLUTION CONTROL EQUIPMENT.—Subparagraph (C) of section 48(1)(3) (as redesignated by paragraph (1)) is amended by Supra. adding at the end thereof the following new sentence: "For purposes of the preceding sentence, in the case of property which is alternative energy property solely by reason of the amendments made by section 2z2(b) of the Crude Oil Windfall Profit Tax Act of 1980, 'January 1, 1980' Ante, p. 26i. shall be substituted for 'October 1, 1978'."
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