The changes start after December 31, 2025
What the document says“The amendments made by this subsection shall apply to calendar years beginning after December 31, 2025.”
The section applies the ceiling change to calendar years beginning after December 31, 2025 and the bond financing change to buildings placed in service in taxable years beginning after that date. Where expenditures are treated as a separate new building under section 42(e), both the existing building and the separate new building are treated as placed in service when those expenditures are.
What the document actually says“The amendments made by this subsection shall apply to calendar years beginning after December 31, 2025.”
The changes start with years that begin after December 31, 2025. Older years are left out.
The bond change turns on when a building is put to use. Work on an old building can count as a new one. Then both share the same start date.
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