"Qualified expenditures" defined
Sec. 4. (a) As used in this chapter, "qualified expenditures" means
expenditures for preservation or rehabilitation of a structure that
enables the structure to be principally used and occupied by the
taxpayer as the taxpayer's residence.
(b) The term does not include costs that are incurred to do the
following:
(1) Acquire a property or an interest in a property.
(2) Pay taxes due on a property.
(3) Enlarge an existing structure.
(4) Pay realtors' fees associated with a structure or property.
(5) Pay paving and landscaping costs.
(6) Pay sales and marketing costs.
As added by P.L.129-2001, SEC.7.
Last modified: May 28, 2006