98 STAT. 514
PUBLIC LAW 98-369—JULY 18, 1984 "(I) any computer or peripheral equipment, "(II) any high technology telephone station equipment installed on the customer's premises, and "(III) any high technology medical equipment, "(ii) EXCEPTION FOR CERTAIN PROPERTY.—The term 'qualified technological equipment' shall not include any property leased to a tax-exempt entity if— "(I) part or all of the property was financed (directly or indirectly) by an obligation the interest on which is exempt from tax under section 103, "(II) such lease occurs after a sale (or other transfer) of the property by, or lease of such property from, such entity (or related entity) and such property has been used by such entity (or a related entity) before such sale (or other transfer) or lease, or "(III) such tax-exempt entity is the United States or any agency or instrumentality of the United States. "(iii) LEASEBACKS DURING 1ST 3 MONTHS OF USE NOT
TAKEN INTO ACCOUNT.—Subclause (II) of clause (ii) shall not apply to any property which is leased within 3 months after the date such property is first used by the tax-exempt entity (or a related entity). "(iv) PROPERTY NOT SUBJECT TO RAPID OBSOLESCENCE
Federal Register, publication.
MAY BE EXCLUDED.—The term 'qualified technological equipment' shall not include any equipment described in subclause (II) or (III) of clause (i)— "(I) which the Secretary determines by regulations is not subject to rapid obsolescence, and "(II) which is placed in service after the date on which final regulations implementing such determination are published in the Federal Register. "(D) COMPUTER OR PERIPHERAL EQUIPMENT DEFINED.—For
purposes of this paragraph— "(i) IN GENERAL.—The term 'computer or peripheral equipment' means— "(I) any computer, and "(II) any related peripheral equipment, "(ii) COMPUTER.—The term 'computer' means a programmable electronically activated device which— "(I) is capable of accepting information, applying prescribed processes to the information, and supplying the results of these processes with or without human intervention, and "(II) consists of a central processing unit containing extensive storage, logic, arithmetic, and control capabilities, "(iii) RELATED PERIPHERAL EQUIPMENT.—The term 'related peripheral equipment' means any auxiliary machine (whether on-line or off-line) which is designed to be placed under the control of the central processing unit of a computer. "(iv) EXCEPTIONS.—The term 'computer or peripheral equipment' shall not include—
�
