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TITLE 26-INTERNAL REVENUE CODE (B) Certain plants, etc., placed in operation after 1968 In the case of any treatment facility used in connection with any plant or other prop- erty not in operation before January 1, 1969, the preceding sentence shall be ap- plied by substituting December 31, 1975, for December 31, 1968. (e) Profitmaking abatement works, etc. The Federal certifying authority shall not certify any property under subsection (d)(1)(B) to the extent it appears that by reason of prof- its derived through the recovery of wastes or otherwise in the operation of such property, its costs will be recovered over its actual useful life. (f) Amortizable basis (1) Defined For purposes of this section, the term "amortizable basis" means that portion of the adjusted basis (for determining gain) of a cer- tified pollution control facility which may be amortized under this section. (2) Special rules (A) If a certified pollution control facility has a useful life (determined as of the first day of the first month for which a deduc- tion is allowable under this section) in excess of 15 years, the amortizable basis of such facility shall be equal to an amount which bears the same ratio to the portion of the adjusted basis of such facility, which would be eligible for amortization but for the application of this subparagraph, as 15 bears to the number of years of useful life of such facility. (B) The amortizable basis of a certified pollution control facility with respect to which an election under this section is in effect shall not be increased, for purposes of this section, for additions or improve- ments after the amortization period has begun. (g) Depreciation deduction The depreciation deduction provided by sec- tion 167 shall, despite the provisions of subsec- tion (a), be allowed with respect to the portion of the adjusted basis which is not the amortiza- ble basis. [(h) Repealed. Pub. L. 92-178, title I, § 104(f)(2), Dec. 10, 1971, 85 Stat. 5021 (i) Life tenant and remainderman In the case of property held by one person for life with remainder to another person, the de- duction under this section shall be computed as if the life tenant were the absolute owner of the property and shall be allowable to the life tenant. () Cross reference For special rule with respect to certain gain derived from the disposition of property the adjusted basis of which is determined with regard to this section, see sec- tion 1245. (Added Pub. L. 91-172, title VII, § 704(a), Dec. 30, 1969, 83 Stat. 667, and amended Pub. L. 92- 178, title I, § 104(f)(2), Dec. 10, 1971, 85 Stat. 502; Pub. L. 93-625, § 3(a), Jan. 3, 1975, 88 Stat. 2109; Pub. L. 94-455, title XIX, § 1906(b)(13)(A), title XXI, § 2112(b), (c), Oct. 4, 1976, 90 Stat. 1834, 1906.) REFERENCES IN TEXT The Federal Water Pollution Control Act, as amend. ed (33 U.S.C. 466 et seq.), referred to in subsec. (d)(1)(B), is act June 30, 1948, ch. 758, as amended gen- erally by Pub. L. 92-500, § 2, Oct. 18, 1972, 86 Stat. 816, which is now classified generally to chapter 26 (§ 1251 et seq.) of Title 33, Navigation and Navigable Waters. Section 13(a) of the act, referred to in subsec. (d)(2), is now covered in section 1362(1) of Title 33. For com- plete classification of this Act to the Code, see Short Title note set out under section 1251 of Title 33 and Tables volume. The Clean Air Act, as amended (42 U.S.C. 1857 et seq.), referred to in subsee. (d)(1)(B), is act July 14, 1955, ch. 360, as amended generally by Pub. L. 88-206, Dec. 17, 1963, 77 Stat. 392, which is now classified gen- erally to chapter 15B (§ 1857 et seq.) of Title 42, The Public Health and Welfare. Section 302(b) of the act, referred to in subsec. (d)(2), is classified to section 1857h(b) of Title 42. For complete classification of this Act to the Code, see Short Title note set out under section 1857 of Title 42 and Tables volume. Paxoa PROVISIONS A pr1ar section 169, act Aug. 16, 1954, ch. 736, 68A Stat. 55, dealing with the amortization of grain-stor- age facilities, was stricken in the reorganization of part VI of subchapter B of chapter 1 of this title by Pub. L. 91-172. AMENDMENTS 1976-Subsec. (b). Pub. L. 94-455, § 1906(b)(13)(A), struck out "or his delegate" following "Secretary". Subsec. (c). Pub. L. 94-455, § 1906(b)(13)(A), struck out "or his delegate" following "Secretary". Subsec. (d)(1). Pub. L. 94-455, §§ 1906(b)(13)(A), 2112(b), substituted in provisions preceding subpar. (A) "January 1, 1976," for "January 1, 1969," and "storing, or preventing the creation or emission of" for "or storing", struck out in subpar. (B) "or his dele- gate" following "Secretary", and added subpar. (C). Subsec. (d)(4). Pub. L. 94-455, § 2112(c), among other changes, struck out provisions relating to treatment facilities placed in service by taxpayer before Jan. 1, 1976, and added provisions that in case of treatment facilities used in connection with any plan or other property not in operation before Jan. 1, 1969, Dec. 31, 1975, shall be substituted for Dec. 31, 1968, as the cut- off date for taking into account that portion of the basis which is attributable to construction, reconstruc- tion, or erection. 1975-Subsec. (d)(4)(B). Pub. L. 93-625 substituted "January 1, 1976" for "January 1, 1975". 1971-Subsec. (h). Pub. L. 92-178 struck out subsec. (h) provision that investment credit not be allowed, now covered in section 48(a)(8) of this title. EFFECTIVE DATE OF 1976 AMENDMENT Section 2112(d)(2) of Pub. L. 94-455 provided that: "The amendments made by subsection (b) [amending subsec. (d)(1) of this section] shall apply to taxable years beginning after December 31, 1975. Such amend- ments shall not apply in the case of any property with respect to which the amortization period under section 169 of the Internal Revenue Code of 1954 has begun before January 1, 1976." EFFECTIVE DATE Section 704(c) of Pub. L. 91-172 provided that: "The amendments made by this section [adding this section and amending sections 642, 1082, 1245, and 1250 of this title] shall apply with respect to taxable years ending after December 31, 1968." TRANSFER OF FUNCTIONS The functions vested in the Secretary of the Interior and the Secretary of Health, Education, and Welfare § 169 Page 181