787.49 FORFEITURE OF UNUSED TAX CREDITS.
   If during any taxable year, property with respect to which a tax credit has been allowed is disposed of or ceases to be used in a business of management information systems taxpayer in the City, or if the warehouse taxpayer ceases operation of such business before expiration of the useful life as set forth in Section 787.48 in computing the credit allowable under Section 787.47, then the unused portion of such credit shall be forfeited for the taxable year in which such event occurs and all ensuing taxable years. Property shall not be treated as disposed of with respect to the management information systems taxpayer or its successor by reason of a mere change in the form of conducting the trade or business so long as the property is retained in such business and the taxpayer or its successor retains a substantial interest therein, and such taxpayer or his successor continues to qualify under Section 787.47.
(Ord. 10123. Passed 10-20-92.)