### Question
How does Renewal Communities define qualified renewal property?


### Answer
Under *26 U.S.C. § 1400J*, **qualified renewal property** is defined as:

> any property to which section 168 applies (or would apply but for section 179) if—


(A) such property was acquired by the taxpayer by purchase (as defined in section 179(d)(2)) after December 31, 2001, and before January 1, 2010, and


(B) such property would be qualified zone property (as defined in section 1397D) if references to renewal communities were substituted for references to empowerment zones in section 1397D

#### Citation:
  - *26 U.S.C. § 1400J*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter X-Renewal Communities > PART III-ADDITIONAL INCENTIVES**

