### Question
What does project period mean?


### Answer
**Project period** has the following meaning in *26 U.S.C. § 42*:

> the period—


(I) beginning with the 1st calendar year for which an allocation may be made for the 1st building placed in service as part of such project, and


(II) ending with the calendar year the last building is placed in service as part of such project

#### Citation:
  - *26 U.S.C. § 42*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter A-Determination of Tax Liability > PART IV-CREDITS AGAINST TAX > Subpart D-Business Related Credits**

