(1) In general The term qualified renewal property means 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.
