Section 1400L.—Tax Benefits for New York Liberty Zone

How does a taxpayer that timely filed its federal tax return for the taxable year that included September 11, 2001, deduct, or elect not to deduct, the additional first year depreciation provided by section 1400L(b) of the Internal Revenue Code for qualified New York Liberty Zone property, or depreciate qualified New York Liberty Zone leasehold improvement property under section 1400L(c)? See Rev. Proc. 2003-50, page 119.