,,ii #aaf? ,,congress #b;d ,session ,s4 #cide ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,june #aa1 #bjbj,mrs4 ,loeffl] 7= h]self1 ,ms4 ,ern/1 & ,mr4 ,cruz7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,f9ance ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to provide inc5tives = relocat+ manufactur+ ( ph>maceuticals & m$ical supplies & devices to ! ,unit$ ,/ates4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,br+ ,entrepr5eurial ,advancem5ts ,to ,consum]s ,"h ,9 ,nor? ,am]ica ,act4 #b4 ,f9d+s ,congress f9ds z foll[s3 7#a7 ,9 late ,decemb] #bjai1 au?orities 9 ! city ( ,wuhan 9 ,*9a's ,hubei ,prov9ce report$ a clu/] ( pneumonia cases ( unkn[n cause4 7#b7 ,! ,gov]nm5t ( ! ,p's ,republic ( ,*9a ev5tually id5tifi$ ! cause ( ! outbreak to be a novel coronavirus t w\ld lat] be und]/ood to cause a respiratory illness 9 humans1 kn[n z ,,covid-#ai4 7#c7 ,! p&emic spread ( ,,covid-#ai & ! geographic location ( its orig9 caus$ rev]b]ations 9 m$ical supply *a9s t rea*$ ar\nd ! _w4 7#d7 ,! ,,covid-#ai p&emic highlights ! ,unit$ ,/ates dep5d5cy on ,*9a = critical m$ical supplies & ph>maceutical products4 7#e7 ,! ,gov]nm5t ( ! ,p's ,republic ( ,*9a & ! ,*9ese ,communi/ ,p>ty prioritize /ate support = biote*nology manufactur+ z a /rategic indu/ry "u ! ,made 9 ,*9a #bjbe initiative4 7#f7 ,accord+ to ! ,unit$ ,/ates ,food & ,drug ,adm9i/ration1 z ( #bjah1 ,*9a is ! l>ge/ export] ( m$ical devices & ! second l>ge/ export] ( drugs & biologics to ! ,unit$ ,/ates4 7#g7 ,*9ese ph>maceutical companies produce m ?an #ij p]c5t ( ! supply ( antibiotics1 vitam9 ,c1 ibupr(51 & hydrocortisone 9 ! ,unit$ ,/ates4 7#h7 ,9 ,m>* #bjbj1 ,x9hua ,news ,s]vice1 a ,*9ese /ate-controll$ news ag5cy1 repr9t$ an article ins9uat+ t if ,*9a 7 to ann\nce its /rategic control ( m$ical products & ban exports to ! ,unit$ ,/ates1 ! ,unit$ ,/ates w\ld be plung$ into ! va/ ocean ( novel coronavirus4 7#i7 ,! ability ( ! ,gov]nm5t ( ! ,p's ,republic ( ,*9a & ! ,*9ese ,communi/ ,p>ty to control ! m$ical supply *a9 poses a risk to ! national security ( ! ,unit$ ,/ates4 7#aj7 ,companies %\ld be inc5tiviz$ ?r\gh a competitive tax /ructure to manufacture & produce ph>maceuticals & m$ical devices 9 ! ,unit$ ,/ates4 #c4 ,tax inc5tives = relocat+ manufactur+ ( ph>maceuticals & m$ical supplies & devices to ! ,unit$ ,/ates 7a7 ,accel]at$ depreciation = nonresid5tial real prop]ty ,section #afh ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new subsection3 7n7 ,accel]at$ depreciation = nonresid5tial real prop]ty acquir$ 9 connection ) ! relocation ( manufactur+ ( ph>maceuticals & m$ical supplies & devices to ! ,unit$ ,/ates 7#a7 ,treatm5t z #bj-ye> prop]ty ,= purposes ( ?is section1 qualifi$ nonresid5tial real prop]ty %all be treat$ z #bj-ye> prop]ty4 7#b7 ,application ( bonus depreciation ,= application ( bonus depreciation to qualifi$ nonresid5tial real prop]ty1 see subsection 7k74 7#c7 ,qualifi$ nonresid5tial real prop]ty ,= purposes ( ?is subsection1 ! t]m qualifi$ nonresid5tial real prop]ty means nonresid5tial real prop]ty plac$ 9 s]vice 9 ! ,unit$ ,/ates by a qualifi$ manufactur] if su* prop]ty is acquir$ by su* qualifi$ manufactur] 9 connection ) a qualifi$ relocation ( manufactur+4 7#d7 ,qualifi$ manufactur] ,= purposes ( ?is subsection1 ! t]m qualifi$ manufactur] means any p]son engag$ 9 ! trade or bus9ess ( manufactur+ a qualifi$ m$ical product4 7#e7 ,qualifi$ m$ical product ,= purposes ( ?is subsection1 ! t]m qualifi$ m$ical product means any ph>maceutical1 m$ical device1 or m$ical supply4 7#f7 ,qualifi$ relocation ( manufactur+ ,= purposes ( ?is subsection-- 7,a7 ,9 g5]al ,! t]m qualifi$ relocation ( manufactur+ means1 ) respect to any qualifi$ manufactur]1 ! relocation ( ! manufactur+ ( a qualifi$ m$ical product f a =eign c\ntry to ! ,unit$ ,/ates4 7,b7 ,relocation ( prop]ty n requir$ ,= purposes ( subp>agraph 7,a71 manufactur+ %all n fail to be treat$ z relocat$ m]ely because prop]ty us$ 9 su* manufactur+ 0 n relocat$4 7,c7 ,relocation ( n less ?an equival5t productive capacity requir$ ,= purposes ( subp>agraph 7,a71 manufactur+ %all n be treat$ z relocat$ unless ! prop]ty manufactur$ 9 ! ,unit$ ,/ates is sub/antially id5tical to ! prop]ty previ\sly manufactur$ 9 a =eign c\ntry & ! increase 9 ! units ( production ( su* prop]ty 9 ! ,unit$ ,/ates by ! qualifi$ manufactur] is n less ?an ! r$uction 9 ! units ( production ( su* prop]ty 9 su* =eign c\ntry by su* qualifi$ manufactur]4 7#g7 ,application to possessions ( ! ,unit$ ,/ates ,= purposes ( ?is subsection1 ! t]m ,unit$ ,/ates includes any possession ( ! ,unit$ ,/ates4 4 7b7 ,exclusion ( ga9 on disposition ( prop]ty 9 connection ) qualifi$ relocation ( manufactur+ 7#a7 ,9 g5]al ,"p ,,iii ( sub*apt] ,b ( *apt] #a ( su* ,code is am5d$ by ins]t+ aft] section #aci;,h ! foll[+ new section3 #aci;,i4 ,exclusion ( ga9 on disposition ( prop]ty 9 connection ) qualifi$ relocation ( manufactur+ 7a7 ,9 g5]al ,9 ! case ( a qualifi$ manufactur]1 gross income %all n include ga9 f ! sale or ex*ange ( qualifi$ relocation disposition prop]ty4 7b7 ,qualifi$ relocation disposition prop]ty ,= purposes ( ?is section1 ! t]m qualifi$ relocation disposition prop]ty means any prop]ty :i*-- 7#a7 is sold or ex*ang$ by a qualifi$ manufactur] 9 connection ) a qualifi$ relocation ( manufactur+1 & 7#b7 0 us$ by su* qualifi$ manufactur] 9 ! trade or bus9ess ( manufactur+ a qualifi$ m$ical product 9 ! =eign c\ntry f :i* su* manufactur+ is be+ relocat$4 7c7 ,o!r t]ms ,t]ms us$ 9 ?is section :i* are also us$ 9 subsection 7n7 ( section #afh %all h ! same mean+ :5 us$ 9 ?is section z :5 us$ 9 su* subsection4 4 7#b7 ,cl]ical am5dm5t ,! table ( sections = "p ,,iii ( sub*apt] ,b ( *apt] #a ( su* ,code is am5d$ by ins]t+ aft] ! item relat+ to section #aci;,h ! foll[+ new item3 ,sec4 #aci;,i4 ,exclusion ( ga9 on disposition ( prop]ty 9 connection ) qualifi$ relocation ( manufactur+4 4 7c7 ,effective dates 7#a7 ,accel]at$ depreciation ,! am5dm5t made by subsection 7a7 %all apply to prop]ty plac$ 9 s]vice aft] ! date ( ! enactm5t ( ?is ,act4 7#b7 ,exclusion ( ga9 ,! am5dm5ts made by subsection 7b7 %all apply to sales & ex*anges aft] ! date ( ! enactm5t ( ?is ,act4