(vii) 51460742345074      $53,000.

"(C) Determination of adjusted basis.—The adjusted basis of any building to which this paragraph applies for purposes of section 42 of such Code shall be its adjusted basis as of the close of the taxable year ending before the first taxable year of the credit period for such building.

"(D) Certain rules to apply.—Rules similar to the rules of subparagraph (E) of paragraph (2) shall apply for purposes of this paragraph.

     "(4) Definitions.—For purposes of this subsection, terms used in such subsection which are also used in section 42 of the Internal Revenue Code of 1986 (as added by this section) shall have the meanings given such terms by such section 42.

     "(5) Transitional rule.—In the case of any rehabilitation expenditures incurred with respect to units located in the neighborhood strategy area within the community development block grant program in Ft. Wayne, Indiana—

"(A) the amendments made by this section [enacting this section and amending sections 38 and 55 of this title] shall not apply, and

"(B) paragraph (1) of section 167(k) of the Internal Revenue Code of 1986, shall be applied as if it did not contain the phrase `and before January 1, 1987’.

The number of units to which the preceding sentence applies shall not exceed 150."

     This section is referred to in sections 38, 39, 45D, 55, 469, 772, 774, 1400I of this title; title 12 section 1715z–22; title 15 sections 632, 657d; title 42 sections 1437, 1437f, 1437z–7, 1485, 1490p–2, 12745.