What is an Improvement? An improvement occurs if the unit of property (UOP) undergoes, other than through routine maintenance: (1) betterment, (2) restoration, or (3) adaptation to another use. This session will cover the new regulations and provide examples that will, assist in the of when that Unit of Property (1) ameliorates a material condition or defect that predates the taxpayer’s ownership of the property, (2) is for a material improvement to the property’s capacity, or (3) is expected to materially improve the property’s productivity, efficiency, strength, quality or output. Discussion on how to identify and examples will be shared. Also a discussion on the safe harbor will be demonstrated.