WILLIAM DONALD SCHAEFER, Governor Ch. 178

NUMBER OF MONTHS, INCLUDING THE MONTH FOR WHICH THE DEDUCTION IS
COMPUTED, REMAINING IN THE 60-MONTH PERIOD.

(III) THE AMORTIZABLE BASIS AT THE END OF A
MONTH IS COMPUTED WITHOUT REGARD TO THE AMORTIZATION EXPENSE FOR
THAT MONTH.

(4) TO TAKE THE AMORTIZATION FOR A CERTIFIED
NONDEPRECIABLE HISTORIC STRUCTURE, AN INDIVIDUAL SHALL FILE WITH
THE COMPTROLLER OR THE COMPTROLLER'S DESIGNEE, IN THE MANNER AND
AT THE TIME THAT THE COMPTROLLER OR DESIGNEE MAY REQUIRE, BY THE
REGULATION OF THE COMPTROLLER, A STATEMENT OF ELECTION TO:

(I)  TAKE THE AMORTIZATION DEDUCTION; AND

(II)  BEGIN THE 60-MONTH PERIOD WITH:

1.  THE MONTH AFTER THE MONTH IN WHICH THE
BASIS IS ACQUIRED; OR

2.  THE TAXABLE YEAR AFTER THE YEAR IN
WHICH THE BASIS IS ACQUIRED.

(I) (1) THE SUBTRACTION UNDER SUBSECTION (A) OF THIS
SECTION INCLUDES TWICE THE AMOUNT OF EXPENSES FOR REFORESTATION
OR TIMBER STAND IMPROVEMENT ACTIVITY ON 10 TO 100 ACRES OF
COMMERCIAL FOREST LAND, EXCLUSIVE OF FEDERAL FUNDS.

(2) OF THE AMOUNT UNDER PARAGRAPH (1) OF THIS
SUBSECTION:

(I)  50% MAY BE CLAIMED IN THE TAXABLE YEAR IN
WHICH THE DEPARTMENT OF NATURAL RESOURCES ISSUES AN INITIAL
CERTIFICATE OF REFORESTATION OR TIMBER STAND IMPROVEMENT; AND

(II)  50% MAY BE CLAIMED IN THE TAXABLE YEAR IN
WHICH THE DEPARTMENT OF NATURAL RESOURCES ISSUES A FINAL
CERTIFICATE OF REFORESTATION OR TIMBER STAND IMPROVEMENT.

(J) (1) THE SUBTRACTION UNDER SUBSECTION (A) OF THIS
SECTION INCLUDES UNREIMBURSED AUTOMOBILE TRAVEL EXPENSES FOR
VOLUNTEER SERVICE:

(I)  TO A NONPROFIT VOLUNTEER FIRE COMPANY;

(II)  TO AN ORGANIZATION WHOSE PRINCIPAL PURPOSE
IS TO PROVIDE MEDICAL, HEALTH, OR NUTRITIONAL CARE AND TO WHICH A
CONTRIBUTION IS DEDUCTIBLE UNDER § 170 OF THE INTERNAL REVENUE
CODE; OR

(III)  TO PROVIDE ASSISTANCE, OTHER THAN
TRANSPORTATION, TO A HANDICAPPED INDIVIDUAL, AS DEFINED UNDER §

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