### Question
What does Gulf Opportunity Zone public utility casualty loss mean?


### Answer
**Gulf Opportunity Zone public utility casualty loss** has the following meaning in *26 U.S.C. § 1400N*:

> any casualty loss of public utility property (as defined in section 168(i)(10)) located in the Gulf Opportunity Zone if—


(A) such loss is allowed as a deduction under section 165 for the taxable year,


(B) such loss is by reason of Hurricane Katrina, and


(C) the taxpayer elects the application of this subsection with respect to such loss

#### Citation:
  - *26 U.S.C. § 1400N*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter Y-Short-Term Regional Benefits > PART II-TAX BENEFITS FOR GO ZONES**

