PUBLIC LAW 101-508 —NOV. 5, 1990 104 STAT. 1388-541 overall cost to the taxpayer of the rehabilitation which is properly attributable to the portion of the rehabilitation which is completed during such taxable year, "(ii) CARRY-OVER OF CERTAIN AMOUNTS.— In the case of a building which is not a self-rehabilitated building, if for the taxable year— "(I) the amount which (but for clause (i)) would have been taken into account under paragraph (1)(B) exceeds the limitation of clause (i), then the amount of such excess shall be taken into account under paragraph (1)(B) for the succeeding taxable year, or "(II) the limitation of clause (i) exceeds the amount taken into account under paragraph (I)(B), then the amount of such excess shall increase the limitation of clause (i) for the succeeding taxable year. " (D) DETERMINATION OF PERCENTAGE OF COMPLETION. — The determination under subparagraph (C)(i) of the portion of the overall cost to the taxpayer of the rehabilitation which is properly attributable to rehabilitation completed during any taxable year shall be made, under regulations prescribed by the Secretary, on the basis of engineering or architectural estimates or on the basis of cost accounting records. Unless the taxpayer establishes otherwise by clear and convincing evidence, the rehabilitation shall be deemed to be completed not more rapidly than ratably over the normal rehabilitation period. " (E) No PROGRESS EXPENDITURES FOR CERTAIN PRIOR PERI- ODS. —No qualified rehabilitation expenditures shall be taken into account under this subsection for any period before the first day of the first taxable year to which an election under this subsection applies. " (F) No PROGRESS EXPENDITURES FOR PROPERTY FOR YEAR IT IS PLACED IN SERVICE, ETC.—In the case of any building, no qualified rehabilitation expenditures shall be taken into account under this subsection for the earlier of— "(i) the taxable year in which the building is placed in service, or "(ii) the first taxable year for which recapture is required under section 50(a)(2) with respect to such property, or for any taxable year thereafter. "(4) SELF-REHABILITATED BUILDING. —For purposes of this subsection, the term 'self-rehabilitated building' means any building if it is reasonable to believe that more than half of the qualified rehabilitation expenditures for such building will be made directly by the taxpayer. "(5) ELECTION.—T his subsection shall apply to any taxpayer only if such taxpayer has made an election under this paragraph. Such an election shall apply to the taxable year for which made and all subsequent taxable years. Such an election, once made, may be revoked only with the consent of the Secretary. •SEC. 48. ENERGY CREDIT; REFORESTATION CREDIT. "(a) ENERGY CREDIT. —
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