Section, added Pub. L. 94-455, title II, Section 201(a), Oct. 4, 1976, 90 Stat. 1525; amended Pub. L. 95-600, title VII, Section 701(m)(1), Nov. 6, 1978, 92 Stat. 2907; Pub. L. 97-34, title II, Section 262(a), (b), Aug. 13, 1981, 95 Stat. 264; Pub. L. 97-248, title II, Section 207(a)-(d), Sept. 3, 1982, 96 Stat. 431, 432; Pub. L. 97-354, Section 5(a)(24), Oct. 19, 1982, 96 Stat. 1694; Pub. L. 98-369, div. A, title I, Section 93(a), title VII, Section 712(c), July 18, 1984, 98 Stat. 614, 947, related to amortization of real property construction period interest and taxes.

Effective Date of Repeal

If any interest costs incurred after Dec. 31, 1986, are attributable to costs incurred before Jan. 1, 1987, the repeal of this section is applicable to such interest costs only to the extent such interest costs are attributable to costs which were required to be capitalized under section 263 of the Internal Revenue Code of 1954 and which would have been taken into account in applying this section (as in effect before its repeal) or, if applicable, section 266 of such Code, see section 7831(d)(2) of Pub. L. 101-239, set out as an Effective Date note under section 263A of this title.

Repeal applicable to costs incurred after Dec. 31, 1986, in taxable years ending after such date, except as otherwise provided, see section 803(d) of Pub. L. 99-514, set out as an Effective Date note under section 263A of this title.