Common use of Amount of Reduction Clause in Contracts

Amount of Reduction. If public util- ity property of a taxpayer becomes de- regulated public utility property to which this section applies, the reduc- tion in the taxpayer’s excess tax re- serve permitted under section 203(e) of the Tax Reform Act of 1986 is equal to the amount by which the reserve could be reduced under that provision if all such property had remained public utility property of the taxpayer and the taxpayer had continued use of its normalization method of accounting with respect to such property.