104 STAT. 1388-554 PUBLIC LAW 101-508—NOV. 5, 1990 ing, removing, or transporting resources from ocean waters or deposits under such waters; " (K) any property described in section 48(a)(3)(A)(iii) which is owned by a United States person and which is used in international or territorial waters to generate energy for use in the United States; and "(L) any satellite (not described in subparagraph (H)) or other spacecraft (or any interest therein) held by a United States person if such satellite or other spacecraft was launched from within the United States. For purposes of subparagraph (J), the term 'northern portion of the Western Hemisphere' means the area lying west of the 30th meridian west of Greenwich, east of the international dateline, and north of the Equator, but not including any foreign country which is a country of South America." (10) Subparagraph (B) of section 170(h)(4) is amended by striking "section 48(g)(3)(B)" and inserting "section 47(c)(3)(B)". (11)(A) Paragraph (1) of section 179(d) is amended by striking "section 38 property" and inserting "section 1245 property (as defined in section 1245(a)(3))". (B) Paragraph (5) of section 179(d) is amended to read as follows: "(5) SECTION NOT TO APPLY TO CERTAIN NONCORPORATE LES- SORS. — Th is section shall not apply to any section 179 property which is purchased by a person who is not a corporation and with respect to which such person is the lessor unless— "(A) the property subject to the lease has been manufactured or produced by the lessor, or "(B) the term of the lease (taking into account options to renew) is less than 50 percent of the class life of the property (as defined in section 168(i)(l)), and for the period consisting of the first 12 months after the date on which the property is transferred to the lessee the sum of the deductions with respect to such property which are allowable to the lessor solely by reason of section 162 (other than rents and reimbursed amounts with respect to such property) exceeds 15 percent of the rental income produced by such property." (12XA) Paragraph (1) of section 196(c) is amended— (i) by striking "section 46(a)" and inserting "section 46", and (ii) by striking "section 48(q)" and inserting "section 50(c)". (B) Paragraph (1) of section 196(d) is amended— (i) by striking "section 46(a)" and inserting "section 46", and (ii) by striking "other than a credit to which section 48(q)(3) applies" and inserting "other than the rehabilitation credit". (13XA) Subsection (a) of section 280F is amended— (i) by striking paragraphs (1) and (4) and redesignating paragraphs (2) and (3) as paragraphs (1) and (2), respectively, and (ii) by striking "the credit determined under section 46(a) or" in paragraph (2)(B) (as redesignated by clause (i)).