PUBLIC LAW 97-34—AUG. 13, 1981
95 STAT. 217
"(ii) an acquisition (other than described in clause (i)) from a related person (as defined in subparagraph (D) of subsection (e)(4)); and "(iii) an acquisition followed by a leaseback to the person from whom the property is acquired. "(C) PROPERTY REACQUIRED BY THE TAXPAYER.—Under regulations prescribed by the Secretary, recovery property which is disposed of and then reacquired by the taxpayer shall be treated for purposes of computing the deduction allowable under subsection (a) as if such property had not been disposed of. "(D) EXCEPTION.—This paragraph shall not apply to any transaction to which subsection (e)(4) applies. "(11) SPECIAL RULES FOR COOPERATIVES.—In the case of a cooperative organization described in section 1381(a), the Secre- 26 USC 1381. tary may by regulations provide— "(A) for allowing allocation units to make separate elections under this section with respect to recovery property, and "(B) for the allocation of the deduction allowable under subsection (a) among allocation units. "(g) DEFINITIONS.—For purposes of this section— "(1) PUBLIC UTILITY PROPERTY.—The term 'public utility property' means property described in section 167(1)(3)(A). (2) PRESENT CLASS LIFE.—The term 'present class life' means the class life (if any) which would be applicable with respect to any property as of January 1, 1981, under subsection (m) of section 167 (determined without regard to paragraph (4) thereof Post, p. 221. and as if the taxpayer had made an election under such subsection). "(3) SECTION 1245 CLASS PROPERTY.—The term 'section 1245 class property' means tangible property described in section 1245(a)(3) other than subparagraphs (C) and (D). "(4) SECTION 1250 CLASS PROPERTY.—The term 'section 1250 class property' means property described in section 1250(c) and property described in section 1245(a)(3)(C). "(5) RESEARCH AND EXPERIMENTATION.—The term 'research and experimentation' has the same meaning as the term research or experimental has under section 174. "(6) RRB PROPERTY DEFINED.—For purposes of this section, the term 'RRB property' means property which under the taxpayer's method of depreciation before January 1, 1981, would have been depreciated using the retirement-replacement-betterment method. "(7) MANUFACTURED HOMES.—The term 'manufactured home' has the same meaning as in section 603(6) of the Housing and Community Development Act of 1974, which is 1250 class prop- 42 USC 5402. erty used as a dwelling unit. ' (8) QUALIFIED COAL UTILIZATION PROPERTY.—
' (A) IN GENERAL.—The term 'qualified coal utilization property' means that portion of the unadjusted basis of coal utilization property which bears the same ratio (but not greater than 1) to such unadjusted basis as— "(i) the Btu's of energy produced by the powerplant or major fuel-burning installation before the conversion or replacement involving coal utilization property, bears to '(ii) the Btu's of energy produced by such powerplant or installation after such conversion or replacement.
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