,,ib ,union ,cal5d> ,no4 #ii #aah? ,,congress #a/ ,session ,h4 ,r4 #cich ,report ,no4 #aah-abg ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,june #i1 #bjbc,mr4 ,smi? ( ,miss\ri introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,june #cj1 #bjbc,report$ ) an am5dm5t1 committ$ to ! ,committee ( ! ,:ole ,h\se on ! ,/ate ( ! ,union1 & ord]$ to be printed,strike out all aft] ! enact+ clause & ins]t ! "p pr9t$ 9 italic,for text ( introduc$ bill1 see copy ( bill z introduc$ on ,june #i1 #bjbc ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to enc\rage economic gr[?4 #a4 ,%ort title2 table ( cont5ts1 etc 7a7 ,%ort title ,?is ,act may be cit$ z ! ,build ,x 9 ,am]ica ,act4 7b7 ,am5dm5t ( #aihf ,code ,except z o!rwise expressly provid$1 :5ev] 9 ?is ,act an am5dm5t or repeal is express$ 9 t]ms ( an am5dm5t to1 or repeal (1 a section or o!r provision1 ! ref]5ce %all be consid]$ to be made to a section or o!r provision ( ! ,int]nal ,rev5ue ,code ( #aihf4 7c7 ,table ( cont5ts ,! table ( cont5ts = ?is ,act is z foll[s3 ,sec4 #a4 ,%ort title2 table ( cont5ts1 etc4,title ,i--,inve/m5t 9 ,america,sec4 #aja4 ,d$uction = rese>* & exp]im5tal exp5ditures4,sec4 #ajb4 ,ext5sion ( all[ance = depreciation1 amortization1 or depletion 9 det]m9+ ! limitation on bus9ess int]e/4,sec4 #ajc4 ,ext5sion ( #ajj p]c5t bonus depreciation4,title ,,ii--,supply ,*a9 ,security,sec4 #bja4 ,t]m9ation ( ,haz>d\s ,sub/ance ,sup]fund f9anc+ rate4,sec4 #bjb4 ,election to det]m9e =eign income taxes paid or accru$ to c]ta9 ,we/]n ,hemisph]e c\ntries )\t reg>d to c]ta9 regulations4,sec4 #bjc4 ,imposition ( tax on ! acquisition ( ,unit$ ,/ates agricultural int]e/s by disqualifi$ p]sons4,title ,,iii--,repeal ( ,special ,int]e/ ,tax ,provisions,sec4 #cja4 ,repeal ( clean electricity production cr$it4,sec4 #cjb4 ,repeal ( clean electricity inve/m5t cr$it4,sec4 #cjc4 ,modification ( clean vehicle cr$it4,sec4 #cjd4 ,repeal ( cr$it = previ\sly-own$ clean vehicles4,sec4 #cje4 ,repeal ( cr$it = qualifi$ comm]cial clean vehicles4 ,i ,inve/m5t 9 ,am]ica #aja4 ,d$uction = rese>* & exp]im5tal exp5ditures 7a7 ,delay ( amortization ( rese>* & exp]im5tal exp5ditures ,section #agd is am5d$ by add+ at ! end ! foll[+ new subsection3 7e7 ,susp5sion ( application ,?is section %all apply to am\nts paid or incurr$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe 7& %all n apply to am\nts paid or incurr$ 9 taxable ye>s beg9n+ on or be=e su* date74 4 7b7 ,re9/atem5t ( exp5s+ = rese>* & exp]im5tal exp5ditures ,"p ,,vi ( sub*apt] ,b ( *apt] #a is am5d$ by ins]t+ aft] section #agd ! foll[+ new section3 #agd;,a4 ,tempor>y rules = rese>* & exp]im5tal exp5ditures 7a7 ,treatm5t z exp5ses ,not)/&+ section #bfc1 !re %all be all[$ z a d$uction any rese>* or exp]im5tal exp5ditures :i* are paid or incurr$ by ! taxpay] dur+ ! taxable ye> 9 connection ) ! taxpay]'s trade or bus9ess4 7b7 ,amortization ( c]ta9 rese>* & exp]im5tal exp5ditures 7#a7 ,9 g5]al ,at ! election ( ! taxpay]1 made 9 accordance ) regulations or o!r guidance provid$ by ! ,secret>y1 rese>* or exp]im5tal exp5ditures :i*-- 7,a7 are paid or incurr$ by ! taxpay] 9 connection ) 8 trade or bus9ess1 & 7,b7 w\ld 7b = subsection 7a77 be *>geable to capital acc\nt b n *>geable to prop]ty ( a "* :i* is subject to ! all[ance "u section #afg 7relat+ to all[ance = depreciation1 etc47 or section #faa 7relat+ to all[ance = depletion71 may be treat$ z def]r$ exp5ses to :i* subsection 7a7 does n apply4 ,9 comput+ taxable income1 su* def]r$ exp5ses %all be all[$ z a d$uction ratably ov] su* p]iod ( n less ?an #fj mon?s z may be select$ by ! taxpay] 7beg9n+ ) ! mon? 9 :i* ! taxpay] fir/ realizes b5efits f su* exp5ditures74 ,su* def]r$ exp5ses are exp5ditures prop]ly *>geable to capital acc\nt = purposes ( section #ajaf7;a77#a7 7relat+ to adju/m5ts to basis ( prop]ty74 7#b7 ,"t = & scope ( election ,! election provid$ by p>agraph 7#a7 may be made = any taxable ye>1 b only if made n lat] ?an ! "t prescrib$ by law = fil+ ! return = su* taxable ye> 7includ+ ext5sions !re(74 ,! me?od s elect$1 & ! p]iod select$ by ! taxpay]1 %all be adh]$ to 9 comput+ taxable income = ! taxable ye> = :i* ! election is made & = all subsequ5t taxable ye>s unless1 ) ! approval ( ! ,secret>y1 a *ange to a diff]5t me?od 7or to a diff]5t p]iod7 is au?oriz$ ) respect to "p or all ( su* exp5ditures4 ,! election %all n apply to any exp5diture paid or incurr$ dur+ any taxable ye> be=e ! taxable ye> = :i* ! taxpay] makes ! election4 7c7 ,election to capitalize exp5ses ,9 ! case ( a taxpay] :i* elects 7at su* "t & 9 su* mann] z ! ,secret>y may provide7 ! application ( ?is subsection1 subsections 7a7 & 7b7 %all n apply4 ,su* election %all n apply to any exp5diture paid or incurr$ dur+ any taxable ye> be=e ! taxable ye> = :i* ! taxpay] makes ! election & may be made ) respect to "p ( ! exp5ditures paid or incurr$ dur+ any taxable ye> only ) ! approval ( ! ,secret>y4 7d7 ,l& & o!r prop]ty ,?is section %all n apply to any exp5diture = ! acquisition or improvem5t ( l&1 or = ! acquisition or improvem5t ( prop]ty to be us$ 9 connection ) ! rese>* or exp]im5tation & ( a "* :i* is subject to ! all[ance "u section #afg 7relat+ to all[ance = depreciation1 etc47 or section #faa 7relat+ to all[ance = depletion72 b = purposes ( ?is section all[ances "u section #afg1 & all[ances "u section #faa1 %all be consid]$ z exp5ditures4 7e7 ,exploration exp5ditures ,?is section %all n apply to any exp5diture paid or incurr$ = ! purpose ( asc]ta9+ ! exi/5ce1 location1 ext5t1 or quality ( any deposit ( ore or o!r m9]al 7includ+ oil & gas74 7f7 ,s(tw>e developm5t ,= purposes ( ?is section1 any am\nt paid or incurr$ 9 connection ) ! developm5t ( any s(tw>e %all be treat$ z a rese>* or exp]im5tal exp5diture4 7g7 ,only reasonable rese>* exp5ditures eligible ,?is section %all apply to a rese>* or exp]im5tal exp5diture only to ! ext5t t ! am\nt !re( is reasonable "u ! circum/ances4 7h7 ,coord9ation ) rese>* cr$it 7#a7 ,9 g5]al ,section #da7;d77#a77;,a7 %all be appli$ by sub/itut+ exp5ses "u section #agd;,a = specifi$ rese>* or exp]im5tal exp5ditures "u section #agd4 7#b7 ,d5ial ( d\ble b5efit 7,a7 ,9 g5]al ,section #bhj;,c7c7 %all n apply & ! am\nt tak5 into acc\nt "u ?is section z rese>* or exp]im5tal exp5ditures %all be r$uc$ by ! am\nt ( ! cr$it all[able "u section #da7;a74 7,b7 ,election ( r$uc$ cr$it 7i7 ,9 g5]al ,9 ! case ( any taxable ye> = :i* an election is made "u ?is subp>agraph-- 7,i7 subp>agraph 7,a7 %all n apply1 & 7,,ii7 ! am\nt ( ! cr$it "u section #da7;a7 %all be ! am\nt det]m9$ "u clause 7ii74 7ii7 ,am\nt ( r$uc$ cr$it ,! am\nt ( cr$it det]m9$ "u ?is clause = any taxable ye> %all be ! am\nt equal to ! excess (-- 7,i7 ! am\nt ( cr$it det]m9$ "u section #da7;a7 )\t reg>d to ?is subp>agraph1 ov] 7,,ii7 ! product ( ! am\nt describ$ 9 subclause 7,i71 multipli$ by ! rate ( tax "u section #aa7;b74 7iii7 ,election ,an election "u ?is subp>agraph = any taxable ye> %all be made n lat] ?an ! "t = fil+ ! return ( tax = su* ye> 7includ+ ext5sions71 %all be made on su* return1 & %all be made 9 su* mann] z ! ,secret>y may prescribe4 ,su* an election1 once made1 %all be irrevocable4 7,c7 ,controll$ gr\ps ,p>agraph 7#c7 ( section #bhj;,c7b7 %all apply = purposes ( ?is p>agraph4 7i7 ,coord9ation ) long-t]m contract rules ,= purposes ( det]m9+ p]c5tage ( completion "u section #dfj7;b77#a77;,a71 any rese>* or exp]im5tal exp5ditures paid or incurr$ by ! taxpay] 9 connection ) ! taxpay]'s trade or bus9ess %all be tak5 into acc\nt z a co/ allocat$ to ! contract = ! taxable ye> 9 :i* s paid or incurr$4 7j7 ,coord9ation ) c]ta9 o!r provisions ,a ref]5ce to ! correspond+ provision ( ?is section %all be treat$ z includ$ 9 any ref]5ce to section #agd 9 section #ef7;b71 #ei7;e71 #add7;a71 #afh7;i71 #agj7;e71 #aie7;c71 #bfc7;a71 #bfc;,a7c71 #dfi7;c71 #edc7;d71 #hfd7;g71 #iic7;d71 #ajaf7;a77#ad71 #abjb7;a71 or #abih7;e74 7k7 ,t]m9ation 7#a7 ,9 g5]al ,?is section %all n apply to am\nts paid or incurr$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 7#b7 ,*ange 9 me?od ( acc\nt+ ,p>agraph 7#a7 7& ! correspond+ application ( section #agd7 %all be treat$ z a *ange 9 me?od ( acc\nt+ = purposes ( section #dha &-- 7,a7 su* *ange %all be treat$ z initiat$ by ! taxpay]1 7,b7 su* *ange %all be treat$ z made ) ! cons5t ( ! ,secret>y1 & 7,c7 su* *ange %all be appli$ only on a cut-(f basis = any rese>* or exp]im5tal exp5ditures paid or incurr$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe1 & no adju/m5t "u section #dha7;a7 %all be made4 4 7c7 ,coord9ation ( amortization ) c]ta9 o!r provisions ,section #agd1 z am5d$ by subsection 7a71 is am5d$ by r$esignat+ subsection 7e7 z subsection 7f7 & by ins]t+ aft] subsection 7d7 ! foll[+ new subsection3 7e7 ,coord9ation ) c]ta9 o!r provisions 7#a7 ,coord9ation ) alt]native m9imum tax ,sections #ef7;b77#b7 & #ei7;e77#b77;,b7 %all n apply to specifi$ rese>* or exp]im5tal exp5ditures to :i* ?is section applies4 7#b7 ,coord9ation ) basis adju/m5t rules ,section #ajaf7;a77#ad7 %all be appli$ by sub/itut+ an amortization d$uction "u section #agd7;a7 = d$uctions z def]r$ exp5ses "u section #agd7;b77#a74 7#c7 ,coord9ation ) long-t]m contract rules ,= purposes ( det]m9+ p]c5tage ( completion "u section #dfj7;b77#a77;,a71 ! amortization d$uction "u subsection 7a7 %all be tak5 into acc\nt z a co/ allocat$ to ! contract4 4 7d7 ,con=m+ am5dm5ts 7#a7 ,section #acbjf ( ,public ,law #aae-ig is am5d$ by /rik+ subsection 7b7 7relat+ to *ange 9 me?od ( acc\nt+74 7#b7 ,! table ( sections = "p ,,vi ( sub*apt] ,b ( *apt] #a is am5d$ by ins]t+ aft] ! item relat+ to section #agd ! foll[+ new item3 ,sec4 #agd;,a4 ,tempor>y rules = rese>* & exp]im5tal exp5ditures4 4 7e7 ,effective date 7#a7 ,9 g5]al ,except z o!rwise provid$ 9 ?is subsection1 ! am5dm5ts made by ?is section %all apply to am\nts paid or incurr$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjba4 7#b7 ,repeal ( sup]c$$ *ange 9 me?od ( acc\nt+ rules ,! am5dm5t made by subsection 7d77#a7 %all take effect z if includ$ 9 ,public ,law #aae-ig4 7f7 ,transition rules 7#a7 ,election reg>d+ treatm5t z *ange 9 me?od ( acc\nt+ ,9 ! case ( any taxpay] :i* 7z ( ! date ( ! enactm5t ( ?is ,act7 _h adopt$ a me?od ( acc\nt+ provid$ by section #agd ( ! ,int]nal ,rev5ue ,code ( #aihf 7z 9 effect prior to ! am5dm5ts made by ?is section7 = ! taxpay]'s fir/ taxable ye> beg9n+ aft] ,decemb] #ca1 #bjba1 & elects ! application ( ?is p>agraph-- 7,a7 ! am5dm5ts made by ?is section %all be treat$ z a *ange 9 me?od ( acc\nt+ = purposes ( section #dha ( su* ,code1 7,b7 su* *ange %all be treat$ z initiat$ by ! taxpay] = ! taxpay]'s imm$iately succe$+ taxable ye>1 7,c7 su* *ange %all be treat$ z made ) ! cons5t ( ! ,secret>y1 & 7,d7 su* *ange %all be appli$ on a modifi$ cut-(f basis1 tak+ into acc\nt = purposes ( section #dha7;a7 ( su* ,code only ! capitaliz$ exp5ditures :i* 7 n all[$ z an amortization d$uction by reason ( section #agd prior to am5dm5t by ?is ,act = ! taxpay]'s fir/ taxable ye> beg9n+ aft] ,decemb] #ca1 #bjba4 7#b7 ,election reg>d+ #aj-ye> write(f 7,a7 ,9 g5]al ,an eligible taxpay] :i* files1 dur+ ! #a-ye> p]iod beg9n+ on ! date ( ! enactm5t ( ?is ,act1 an am5d$ income tax return = ! taxable ye> describ$ 9 subp>agraph 7,b77ii7 may elect ! application ( section #ei7;e7 ( ! ,int]nal ,rev5ue ,code ( #aihf ) respect to qualifi$ exp5ditures describ$ 9 section #ei7;e77#b77;,b7 ( su* ,code ) respect to su* taxable ye>4 ,su* election %all be fil$ ) su* am5d$ income tax return & %all be effective only to ! ext5t t su* election w\ld h be5 effective if fil$ ) ! orig9al income tax return = su* taxable ye>4 7,b7 ,eligible taxpay] ,= purposes ( subp>agraph 7,a71 ! t]m eligible taxpay] means any taxpay] :i*-- 7i7 does n elect ! application ( p>agraph 7#a71 & 7ii7 fil$ an income tax return = su* taxpay]'s fir/ taxable ye> beg9n+ aft] ,decemb] #ca1 #bjba1 be=e ! e>li] (-- 7,i7 ! due date = su* return1 & 7,,ii7 ! date ( ! enactm5t ( ?is ,act4 #ajb4 ,ext5sion ( all[ance = depreciation1 amortization1 or depletion 9 det]m9+ ! limitation on bus9ess int]e/ 7a7 ,9 g5]al ,section #afc7;j77#h77;,a77v7 is am5d$ by /rik+ ,janu>y #a1 #bjbb & ins]t+ ,janu>y #a1 #bjbf4 7b7 ,effective date 7#a7 ,9 g5]al ,except z o!rwise provid$ 9 ?is subsection1 ! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbb4 7#b7 ,election to apply ext5sion retroactively ,9 ! case ( a taxpay] :i* elects 7at su* "t & 9 su* mann] z ! ,secret>y may provide7 ! application ( ?is p>agraph1 p>agraph 7#a7 %all be appli$ by sub/itut+ ,decemb] #ca1 #bjba = ,decemb] #ca1 #bjbb4 #ajc4 ,ext5sion ( #ajj p]c5t bonus depreciation 7a7 ,9 g5]al ,section #afh7k77#f77;,a7 is am5d$-- 7#a7 9 clause 7i7-- 7,a7 by /rik+ #bjbc & ins]t+ #bjbf1 & 7,b7 by add+ & at ! end1 & 7#b7 by /rik+ clauses 7ii71 7iii71 & 7iv71 & r$esignat+ clause 7v7 z clause 7ii74 7b7 ,prop]ty ) long] production p]iods ,section #afh7k77#f77;,b7 is am5d$-- 7#a7 9 clause 7i7-- 7,a7 by /rik+ #bjbd & ins]t+ #bjbg1 & 7,b7 by add+ & at ! end1 & 7#b7 by /rik+ clauses 7ii71 7iii71 & 7iv71 & r$esignat+ clause 7v7 z clause 7ii74 7c7 ,plants be>+ fruits & nuts ,section #afh7k77#f77;,c7 is am5d$-- 7#a7 9 clause 7i7-- 7,a7 by /rik+ #bjbc & ins]t+ #bjbf1 & 7,b7 by add+ & at ! end1 & 7#b7 by /rik+ clauses 7ii71 7iii71 & 7iv71 & r$esignat+ clause 7v7 z clause 7ii74 7d7 ,effective dates 7#a7 ,9 g5]al ,except z o!rwise provid$ 9 ?is subsection1 ! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjbb4 7#b7 ,plants be>+ fruits & nuts ,! am5dm5ts made by subsection 7c7 %all apply to specifi$ plants plant$ or graft$ aft] ,decemb] #ca1 #bjbb4 ,,ii ,supply ,*a9 ,security #bja4 ,t]m9ation ( ,haz>d\s ,sub/ance ,sup]fund f9anc+ rate 7a7 ,9 g5]al ,section #dfaa 7z am5d$ by section #acfja ( ,public ,law #aag-afi7 is am5d$ by ins]t+ aft] subsection 7d7 ! foll[+ new subsection3 7e7 ,application ( ,haz>d\s ,sub/ance ,sup]fund f9anc+ rate ,! ,haz>d\s ,sub/ance ,sup]fund f9anc+ rate "u ?is section %all n apply aft] ,decemb] #ca1 #bjbb4 4 7b7 ,t]m9ation ( au?ority = advances ,section #iejg7;d77#c77;,b7 7z s am5d$7 is am5d$-- 7#a7 by /rik+ ,decemb] #ca1 #bjcb & ins]t+ ! date ( ! enactm5t ( ! ,build ,x 9 ,am]ica ,act1 & 7#b7 by /rik+ on or be=e su* date & ins]t+ z soon z practicable !reaft]4 7c7 ,effective date 7#a7 ,9 g5]al ,! am5dm5t made by subsection 7a7 %all take effect on ,janu>y #a1 #bjbc4 7#b7 ,t]m9ation ( au?ority = advances ,! am5dm5ts made by subsection 7b7 %all take effect on ! date ( ! enactm5t ( ?is ,act4 #bjb4 ,election to det]m9e =eign income taxes paid or accru$ to c]ta9 ,we/]n ,hemisph]e c\ntries )\t reg>d to c]ta9 regulations 7a7 ,election ) respect to det]m9+ c]ta9 =eign income taxes ,9 ! case ( any taxpay] :i* elects 7at su* "t & 9 su* mann] z ! ,secret>y may provide7 ! application ( ?is subsection1 ! det]m9ation ( :e!r any ,we/]n ,hemisph]e tax paid or accru$ by su* taxpay] is an income1 w> pr(its1 or excess pr(its tax = purposes ( any provision ( ! ,int]nal ,rev5ue ,code ( #aihf %all be made )\t reg>d to any specifi$ regulation4 7b7 ,sep>ate election ) respect to allocation & apportionm5t ( =eign income taxes relat+ to disreg>d$ paym5ts f c]ta9 disreg>d$ entities 7#a7 ,9 g5]al ,if ! own] ( any specifi$ disreg>d$ entity elects 7at su* "t & 9 su* mann] z ! ,secret>y may provide7 ! application ( ?is subsection ) respect to su* entity1 !n = purposes ( allocat+ & apportion+ any =eign income taxes 7z def9$ 9 section #ihf7;a77#d7 ( ! ,int]nal ,rev5ue ,code ( #aihf & det]m9$ aft] ! application ( subsection 7a7 ( ?is section7 paid or accru$ by reason ( any remittance made by su* entity to su* own] dur+ ! applicable p]iod1 any items ( =eign gross income includ$ by reason ( ! receipt ( su* remittance %all be assign$ to a category bas$ on curr5t & accumulat$ e>n+s & pr(its ( su* entity 79 lieu ( be+ assign$ on ! basis ( ! tax book value me?od describ$ 9 a specifi$ regulation74 7#b7 ,specifi$ disreg>d$ entity ,= purposes ( ?is subsection1 ! t]m specifi$ disreg>d$ entity means any entity 7includ+ any trade or bus9ess7 if-- 7,a7 su* entity is disreg>d$ z an entity sep>ate f its own] = purposes ( apply+ *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf1 7,b7 su* entity is creat$ or organiz$ 9 a possession ( ! ,unit$ ,/ates or a =eign c\ntry describ$ 9 subsection 7d77#a77;,b71 7,c7 at all times aft] ,decemb] #ca1 #bjai 7or1 if lat]1 ! date on :i* su* entity is creat$ or organiz$7 sub/antially all ( ! income ( su* entity is d]iv$ f trades or bus9esses conduct$ 9 ! possession or c\ntry ref]r$ to 9 subp>agraph 7,b71 & 7,d7 at all times aft] ! date on :i* su* entity is creat$ or organiz$1 su* entity ma9ta9s sep>ate books & records4 7c7 ,application to deem$ paid cr$it ,9 ! case ( any tax paid or accru$ by a controll$ =eign corporation & deem$ to h be5 paid by a ,unit$ ,/ates %>ehold] "u section #ifj ( ! ,int]nal ,rev5ue ,code ( #aihf-- 7#a7 any election "u subsection 7a7 or 7b7 %all be made by su* controll$ =eign corporation & %all be b9d+ on all ,unit$ ,/ates %>ehold]s ( su* controll$ =eign corporation1 & 7#b7 ! applicable p]iod "u subsection 7d7 %all be det]m9$ ) respect to ! taxable ye>s ( su* controll$ =eign corporation4 7d7 ,we/]n ,hemisph]e tax ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m ,we/]n ,hemisph]e tax means any tax :i* is paid or accru$ = a taxable ye> :i* is 9 ! applicable p]iod to-- 7,a7 any possession ( ! ,unit$ ,/ates1 or 7,b7 any =eign c\ntry 7o!r ?an ,cuba & ,v5ezuela7 :i* is locat$ 9 ,nor?1 ,c5tral1 or ,s\? ,am]ica 7includ+ ! ,we/ ,indies74 7#b7 ,applicable p]iod ,! t]m applicable p]iod means-- 7,a7 9 ! case ( any election made "u subsection 7a71 all taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjba1 & be=e ,janu>y #a1 #bjbg1 & 7,b7 9 ! case ( any election made "u subsection 7b71 all taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjai1 & be=e ,janu>y #a1 #bjbg4 7#c7 ,det]m9ation bas$ on taxable ye> = :i* tax actually paid or accru$ ,! det]m9ation ( ! taxable ye> = :i* any tax is paid or accru$ = purposes ( det]m9+ :e!r a =eign tax is paid or accru$ = a taxable ye> :i* is 9 ! applicable p]iod %all be made )\t reg>d to any taxable ye> ) respect to :i* su* tax is deem$ to h be5 paid "u section #ijd7;c7 or #ifj ( ! ,int]nal ,rev5ue ,code ( #aihf4 7e7 ,specifi$ regulation ,= purposes ( ?is section1 ! t]m specifi$ regulation means-- 7#a7 ,treasury ,regulations relat+ to 8,guidance ,relat$ to ! ,=eign ,tax ,cr$it2 ,cl>ification ( ,=eign-,d]iv$ ,intangible ,income0 7#hg ,f$4 ,reg4 #bgf2 publi%$ on ,janu>y #d1 #bjbb71 7#b7 propos$ ,treasury ,regulations relat+ to 8,guidance ,relat$ to ! ,=eign ,tax ,cr$it0 7#hg ,f$4 ,reg4 #gabga2 publi%$ on ,novemb] #bb1 #bjbb71 & 7#c7 any regulation or o!r guidance publi%$ aft] ,janu>y #d1 #bjbb1 to ! ext5t t su* regulation or o!r guidance is sub/antially simil> to1 or pr$icat$ ^u1 any portion ( ! regulations ref]r$ to 9 p>agraph 7#a7 or 7#b74 ,9 ! case ( any regulation or o!r guidance :i* is publi%$ aft] ! date ( ! enactm5t ( ?is ,act & any portion ( :i* is describ$ 9 p>agraph 7#c71 ! ,secret>y %all id5tify su* regulation or guidance 7or portion !re(7 z n apply+ ) respect to taxpay]s :i* h elect$ ! application ( subsection 7a7 or 7b71 z ! case may be4 7f7 ,secret>y ,= purposes ( ?is section1 ! t]m ,secret>y means ! ,secret>y ( ! ,treasury or ! ,secret>y's delegate4 #bjc4 ,imposition ( tax on ! acquisition ( ,unit$ ,/ates agricultural int]e/s by disqualifi$ p]sons 7a7 ,9 g5]al ,subtitle ,d is am5d$ by ins]t+ aft] *apt] #ej;,a ! foll[+ new *apt]3 #ej;,b ,acquisition ( ,unit$ ,/ates agricultural int]e/s by disqualifi$ p]sons ,sec4 #ejjj;,e4 ,imposition ( tax on acquisition ( ,unit$ ,/ates agricultural int]e/s by disqualifi$ p]sons4 #ejjj;,e4 ,imposition ( tax on acquisition ( ,unit$ ,/ates agricultural int]e/s by disqualifi$ p]sons 7a7 ,9 g5]al ,9 ! case ( any acquisition ( any ,unit$ ,/ates agricultural int]e/ by any disqualifi$ p]son1 !re is h]eby impos$ on su* p]son a tax equal to #fj p]c5t ( ! am\nt paid = su* int]e/4 7b7 ,disqualifi$ p]son ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m disqualifi$ p]son means-- 7,a7 any citiz5 ( a c\ntry ( conc]n 7o!r ?an a citiz51 or lawful p]man5t resid5t1 ( ! ,unit$ ,/ates & o!r ?an an individual domicil$ 9 ,taiwan possess+ a valid id5tification c>d or numb] issu$ by ! gov]nm5t ( ,taiwan71 7,b7 any entity domicil$ 9 a c\ntry ( conc]n 7o!r ?an an entity domicil$ 9 ,taiwan71 7,c7 any c\ntry ( conc]n & any political subdivision1 ag5cy1 or in/rum5tality !re(1 & 7,d7 except z provid$ 9 p>agraph 7#c71 any entity if p]sons describ$ 9 subp>agraph 7,a71 7,b71 or 7,c7 79 ! aggregate7 #aj-p]c5t control su* entity4 7#b7 ,c\ntry ( conc]n ,! t]m c\ntry ( conc]n means any c\ntry ! gov]nm5t ( :i* is engag$ 9 a long-t]m patt]n or s]i\s in/ances ( conduct significantly adv]se to ! national security ( ! ,unit$ ,/ates or ! security & safety ( ,unit$ ,/ates p]sons1 includ+ ! ,p's ,republic ( ,*9a1 ! ,russian ,f$]ation1 ,iran1 ,nor? ,korea1 ,cuba1 & ! regime ( ,nicolas ,maduro 9 ,v5ezuela4 7#c7 ,exception = c]ta9 publicly trad$ corporations 7,a7 ,9 g5]al ,an entity %all n be treat$ z describ$ 9 p>agraph 7#a77;,d7 if-- 7i7 su* entity is a specifi$ publicly trad$ corporation1 or 7ii7 specifi$ publicly trad$ corporations 79 ! aggregate7 control su* entity4 7,b7 ,specifi$ publicly trad$ corporation 7i7 ,9 g5]al ,! t]m specifi$ publicly trad$ corporation means any corporation if-- 7,i7 ! /ock ( su* corporation is regul>ly trad$ on an e/abli%$ securities m>ket locat$ 9 ! ,unit$ ,/ates1 & 7,,ii7 specifi$ disqualifi$ p]sons d n 79 ! aggregate7 control su* corporation4 7ii7 ,specifi$ disqualifi$ p]sons ,! t]m specifi$ disqualifi$ p]sons means1 ) respect to any corporation ref]r$ to 9 clause 7i71 any p]son :i*-- 7,i7 is describ$ 9 subp>agraph 7,a71 7,b71 or 7,c7 ( p>agraph 7#a71 & 7,,ii7 #aj-p]c5t controls su* corporation4 7c7 ,prorat$ tax on acquisitions by entities n m ?an #ej p]c5t controll$ by disqualifi$ p]sons 7#a7 ,9 g5]al ,9 ! case ( any disqualifi$ p]son describ$ 9 subsection 7b77#a77;,d7 ) respect to :i* p]sons describ$ 9 subp>agraphs 7,a71 7,b71 or 7,c7 ( subsection 7b77#a7 d n 79 ! aggregate7 control su* disqualifi$ p]son1 subsection 7a7 %all be appli$ by sub/itut+ ! applicable p]c5tage ( ! am\nt = ! am\nt4 7#b7 ,applicable p]c5tage ,= purposes ( ?is section1 ! t]m applicable p]c5tage means1 ) respect to any disqualifi$ p]son to :i* p>agraph 7#a7 applies1 ! highe/ p]c5tage :i* c\ld be sub/itut$ = #ej p]c5t bo? places x appe>s 9 section #ied7;d77#c7 )\t caus+ p]sons describ$ 9 subp>agraph 7,a71 7,b71 or 7,c7 ( subsection 7b77#a7 79 ! aggregate7 to control 7det]m9$ by tak+ into acc\nt su* sub/itution7 su* disqualifi$ p]son4 7d7 ,control ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m control has ! mean+ giv5 su* t]m "u section #ied7;d77#c71 det]m9$ by treat+ ! rules ( section #ieh7;a77#b7 z apply+ to bo? =eign & dome/ic corporations1 p>tn]%ips1 tru/s1 & e/ates4 7#b7 #aj-p]c5t control ,! t]m #aj-p]c5t control means control 7z def9$ 9 p>agraph 7#a771 det]m9$ by sub/itut+ #aj p]c5t = #ej p]c5t bo? places x appe>s 9 section #ied7;d77#c74 7e7 ,unit$ ,/ates agricultural int]e/ ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m ,unit$ ,/ates agricultural int]e/ has ! mean+ :i* w\ld be giv5 ! t]m ,unit$ ,/ates real prop]ty int]e/ by section #hig7;c7 if-- 7,a7 p>agraph 7#a77;,a77i7 7 appli$ by sub/itut+ an int]e/ 9 agricultural l& = an int]e/ 9 real prop]ty & all t foll[s1 7,b7 p>agraph 7#a77;,a77ii7 7 appli$ by sub/itut+ su* corporation 0 n a ,unit$ ,/ates real prop]ty hold+ corporation at ! "t ( acquisition = su* corporation & all t foll[s1 7,c7 p>agraph 7#a77;,b7 did n apply1 & 7,d7 p>agraph 7#c7 7 appli$ by sub/itut+ at ! "t ( acquisition = at "s "t dur+ ! %ort] ( ! p]iods describ$ 9 p>agraph 7#a77;,a77ii74 7#b7 ,agricultural l& ,= purposes ( p>agraph 7#a71 ! t]m agricultural l& means-- 7,a7 agricultural l& z def9$ 9 section #i ( ! ,agricultural ,=eign ,inve/m5t ,disclosure ,act ( #aigh 7#g ,u4,s4,c4 #cejh71 & 7,b7 l& locat$ 9 "o or m ,/ates & us$ = live/ock production purposes 7det]m9$ "u rules simil> to ! rules t apply "u su* section #i74 4 7b7 ,report+ requirem5ts 7#a7 ,9 g5]al ,subp>t ,b ( "p ,,iii ( sub*apt] ,a ( *apt] #fa is am5d$ by add+ at ! end ! foll[+ new section3 #fjej;,,aa4 ,returns relat+ to acquisition ( ,unit$ ,/ates agricultural int]e/s by disqualifi$ p]sons 7a7 ,9 g5]al ,! requir$ report+ p]son1 ) respect to any acquisition ( any ,unit$ ,/ates agricultural int]e/ by a presumptively disqualifi$ p]son to :i* section #ejjj;,e7a7 applies1 %all make a return at su* "t z ! ,secret>y may provide sett+ =?-- 7#a7 ! "n1 address1 & ,,t9 ( su* presumptively disqualifi$ p]son1 7#b7 a description ( su* ,unit$ ,/ates agricultural int]e/ 7includ+ ! /reet address1 if applicable71 & 7#c7 ! am\nt paid = su* ,unit$ ,/ates agricultural int]e/4 7b7 ,/atem5t to be furni%$ to presumptively disqualifi$ p]son ,e p]son requir$ to make a return "u subsection 7a7 %all furni%1 at su* "t z ! ,secret>y may provide1 to ea* presumptively disqualifi$ p]son ^: "n is requir$ to be set =? 9 su* return a writt5 /atem5t %[+-- 7#a7 ! "n & address ( ! in=mation contact ( ! requir$ report+ p]son1 & 7#b7 ! in=mation describ$ 9 p>agraphs 7#a71 7#b71 & 7#c7 ( subsection 7a7 :i* relates to su* disqualifi$ p]son4 7c7 ,requir$ report+ p]son ,= purposes ( ?is section1 ! t]m requir$ report+ p]son means1 ) respect to any acquisition ( any ,unit$ ,/ates agricultural int]e/-- 7#a7 ! p]son 7includ+ any attorney or title company7 responsible = clos+ ! transaction 9 :i* su* ,unit$ ,/ates agricultural int]e/ is acquir$1 or 7#b7 if no "o is responsible = clos+ su* transaction 7or 9 su* o!r cases z ! ,secret>y may provide71 ! transf]or ( su* ,unit$ ,/ates agricultural int]e/4 7d7 ,presumptively disqualifi$ p]son ,= purposes ( ?is section1 ! t]m presumptively disqualifi$ p]son means any p]son unless su* p]son furni%es to ! requir$ report+ p]son an affidavit by ! su* p]son /at+1 "u p5alty ( p]jury1 t su* p]son is n a disqualifi$ p]son 7z def9$ 9 section #ejjj;,e7b774 7e7 ,requirem5t to reque/ affidavit ,if ! requir$ report+ p]son1 ) respect to any acquisition ( any ,unit$ ,/ates agricultural int]e/1 has n1 z ( ! "t ( su* acquisition1 be5 furni%$ ! affidavit describ$ 9 subsection 7d7 by ! acquir] ( su* int]e/1 su* requir$ report+ p]son %all furni% to su* acquir]1 at su* "t1 a writt5 /atem5t in=m+ su* acquir] ( ! requir$ report+ p]son's obligation to make ! return describ$ 9 subsection 7a7 ) respect to su* acquisition & includ+ su* o!r in=mation z ! ,secret>y may require4 7f7 ,unit$ ,/ates agricultural int]e/ ,= purposes ( ?is section1 ! t]m ,unit$ ,/ates agricultural int]e/ has ! mean+ giv5 su* t]m 9 section #ejjj;,e4 4 7#b7 ,p5alties ,section #fgbd7;d7 is am5d$-- 7,a7 9 p>agraph 7#a77;,b71 by /rik+ or at ! end ( clause 7xxvii71 by /rik+ & at ! end ( clause 7xxviii7 & ins]t+ or1 & by add+ at ! end ! foll[+ new clause3 7xxix7 section #fjej;,,aa7a7 7relat+ to returns relat+ to acquisition ( ,unit$ ,/ates agricultural int]e/s by disqualifi$ p]sons71 & 1 & 7,b7 9 p>agraph 7#b71 by /rik+ or at ! end ( subp>agraph 7,,kk71 by /rik+ ! p]iod at ! end ( subp>agraph 7,,ll7 & ins]t+ 1 or1 & by ins]t+ aft] subp>agraph 7,,ll7 ! foll[+ new subp>agraph3 7,,mm7 subsection 7b7 or 7e7 ( section #fjee;,,aa 7relat+ to /atem5ts relat+ to acquisition ( ,unit$ ,/ates agricultural int]e/s by disqualifi$ p]sons74 4 7c7 ,cl]ical am5dm5ts 7#a7 ,! table ( *apt]s = subtitle ,d is am5d$ by ins]t+ aft] ! item relat+ to *apt] #ej;,a ! foll[+ new item3 ,*apt] #ej;,b4 ,acquisition ( ,unit$ ,/ates agricultural int]e/s by disqualifi$ p]sons4 4 7#b7 ,! table ( sections = subp>t ,b ( "p ,,iii ( sub*apt] ,a ( *apt] #fa is am5d$ by add+ at ! end ! foll[+ new item3 ,sec4 #fjej;,,aa4 ,returns relat+ to acquisition ( ,unit$ ,/ates agricultural int]e/s by disqualifi$ p]sons4 4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to acquisitions aft] ! date ( ! enactm5t ( ?is ,act4 ,,iii ,repeal ( ,special ,int]e/ ,tax ,provisions #cja4 ,repeal ( clean electricity production cr$it 7a7 ,9 g5]al ,subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by /rik+ section #de,y 7& by /rik+ ! item relat+ to su* section 9 ! table ( sections = su* subp>t74 7b7 ,con=m+ am5dm5ts 7#a7 ,section #ch7;b7 is am5d$ by /rik+ p>agraph 7#ci7 & r$esignat+ p>agraphs 7#dj7 & 7#da7 z p>agraphs 7#ci7 & 7#dj71 respectively4 7#b7 ,section #fdag7;b7 is am5d$ by /rik+ p>agraph 7#h7 & r$esignat+ p>agraphs 7#i7 ?r\gh 7#ab7 z p>agraphs 7#h7 ?r\gh 7#aa71 respectively4 7#c7 ,section #fdah7;f77#a7 is am5d$-- 7,a7 9 subp>agraph 7,a71 by /rik+ clause 7vii7 & by r$esignat+ clauses 7viii7 ?r\gh 7xi7 z clauses 7vii7 ?r\gh 7x71 respectively1 & 7,b7 9 subp>agraph 7,b71 by /rik+ 7v71 or 7vii7 & ins]t+ or 7v74 7c7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 section #acgja ( ,public ,law #aag-afi4 #cjb4 ,repeal ( clean electricity inve/m5t cr$it 7a7 ,9 g5]al ,subp>t ,e ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by /rik+ section #dh;,e 7& by /rik+ ! item relat+ to su* section 9 ! table ( sections = su* subp>t74 7b7 ,con=m+ am5dm5ts 7#a7 ,section #df1 z am5d$ by ,public ,law #aag-afi1 is am5d$-- 7,a7 9 p>agraph 7#e71 by add+ & at ! end1 7,b7 9 p>agraph 7#f71 by /rik+ 1 & & ins]t+ a p]iod1 & 7,c7 by /rik+ p>agraph 7#g74 7#b7 ,section #dh7;e77#d77;,d7 is am5d$ by /rik+ except z provid$ 9 section #dh;,e7h77#d77;,d77ii74 7#c7 ,section #dh;,c7f7 is am5d$ by /rik+ #dh;,e14 7#d7 ,section #di7;a77#a77;,c71 z am5d$ by ,public ,law #aag-afi1 is am5d$-- 7,a7 by add+ & at ! end ( clause 7v71 7,b7 by /rik+ ! comma at ! end ( clause 7vi7 & ins]t+ a p]iod1 & 7,c7 by /rik+ clauses 7vii7 & 7viii74 7#e7 ,section #ej7;a77#b77;,e71 z am5d$ by ,public ,law #aag-afi1 is am5d$ by /rik+ #dh;,d7b77#e71 or #dh;,e7e7 & ins]t+ or #dh;,d7b77#e74 7#f7 ,section #ej7;c77#c71 z am5d$ by ,public ,law #aag-afi1 is am5d$ by /rik+ or clean electricity inve/m5t cr$it4 7#g7 ,section #afh7;e77#c77;,b71 z am5d$ by ,public ,law #aag-afi1 is am5d$-- 7,a7 9 clause 7vi77,,iii71 by ins]t+ & at ! end1 7,b7 9 clause 7vii71 by /rik+ 1 & & ins]t+ a p]iod1 & 7,c7 by /rik+ clause 7viii74 7#h7 ,section #fdag7;b71 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by /rik+ p>agraph 7#aa74 7#i7 ,section #fdah7;f77#a77;,a71 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by /rik+ clause 7x74 7c7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 section #acgjb ( ,public ,law #aag-afi4 #cjc4 ,modification ( clean vehicle cr$it 7a7 ,p] vehicle doll> limitation ,section #cj;,d7b7 is am5d$ by /rik+ p>agraphs 7#b7 & 7#c7 & ins]t+ ! foll[+3 7#b7 ,base am\nt ,! am\nt det]m9$ "u ?is p>agraph is #b1ejj4 7#c7 ,batt]y capacity ,9 ! case ( a vehicle :i* draws propulsion en]gy f a batt]y ) n less ?an #e kil[att h\rs ( capacity1 ! am\nt det]m9$ "u ?is p>agraph is #dag1 plus #dag = ea* kil[att h\r ( capacity 9 excess ( #e kil[att h\rs4 ,! am\nt det]m9$ "u ?is p>agraph %all n exce$ #e1jjj4 4 7b7 ,f9al assembly ,section #cj;,d7d7 is am5d$-- 7#a7 9 p>agraph 7#a71 by /rik+ subp>agraph 7,g71 & 7#b7 by /rik+ p>agraph 7#e74 7c7 ,additional modifications to vehicle def9ition 7#a7 ,9 g5]al ,section #cj;,d7d71 z am5d$ by subsection 7b71 is am5d$-- 7,a7 9 ! head+1 by /rik+ ,clean & ins]t+ ,qualifi$ plug-9 electric drive motor1 7,b7 9 p>agraph 7#a7-- 7i7 9 ! matt] prec$+ subp>agraph 7,a71 by /rik+ clean & ins]t+ qualifi$ plug-9 electric drive motor1 7ii7 9 subp>agraph 7,c71 by /rik+ qualifi$ be=e manufactur]1 7iii7 9 subp>agraph 7,e71 by add+ & at ! end1 7iv7 9 subp>agraph 7,f7-- 7,i7 9 clause 7i71 by /rik+ #g & ins]t+ #d1 & 7,,ii7 9 clause 7ii71 by /rik+ ! comma at ! end & ins]t+ a p]iod1 & 7v7 by /rik+ subp>agraph 7,h71 7,c7 9 p>agraph 7#c7-- 7i7 9 ! head+1 by /rik+ qualifi$ manufactur] & ins]t+ ,manufactur]1 & 7ii7 by /rik+ ,! t]m qualifi$ manufactur] means & all t foll[s ?r\gh ! p]iod & ins]t+ ,! t]m manufactur] has ! mean+ giv5 su* t]m 9 regulations prescrib$ by ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy = purposes ( ! adm9i/ration ( title ,,ii ( ! ,clean ,air ,act 7#db ,u4,s4,c4 #geba et seq4741 & 7,d7 by /rik+ p>agraph 7#f74 7#b7 ,con=m+ am5dm5ts ,section #cj;,d is am5d$-- 7,a7 9 subsection 7a71 by /rik+ new clean vehicle & ins]t+ new qualifi$ plug-9 electric drive motor vehicle1 & 7,b7 9 subsection 7b77#a71 by /rik+ new clean vehicle & ins]t+ new qualifi$ plug-9 electric drive motor vehicle4 7d7 ,critical m9]al & batt]y compon5t requirem5t modifications 7#a7 ,9 g5]al ,section #cj;,d7e71 z add$ by ,public ,law #aag-afi1 is am5d$ by /rik+ p>agraphs 7#a7 & 7#b71 by r$esignat+ p>agraph 7#c7 z p>agraph 7#d71 & by ins]t+ be=e p>agraph 7#d7 7z s r$esignat$7 ! foll[+ new p>agraphs3 7#a7 ,critical m9]als requirem5t ,no cr$it %all be all[$ "u ?is section ) respect to any vehicle unless1 ) respect to ! batt]y f :i* ! electric motor ( su* vehicle draws electricity1 ! p]c5tage ( ! value ( ! applicable critical m9]als 7z def9$ 9 section #de,x7c77#f77 conta9$ 9 su* batt]y t 7-- 7,a7 extract$ or process$-- 7i7 9 ! ,unit$ ,/ates1 or 7ii7 9 any c\ntry ) :i* ! ,unit$ ,/ates has a free trade agreem5t 9 effect1 or 7,b7 recycl$ 9 ,nor? ,am]ica1 is equal to or great] ?an #hj p]c5t 7z c]tifi$ by ! manufactur]1 9 su* =m or mann] z prescrib$ by ! ,secret>y74 ,= purposes ( subp>agraph 7,a77ii71 ! t]m free trade agreem5t means an int]national agreem5t approv$ by ,congress t elim9ates duties & o!r re/rictive regulations ( comm]ce on sub/antially all ! trade betwe5 ! ,unit$ ,/ates & "o or m o!r c\ntries4 7#b7 ,batt]y compon5ts ,no cr$it %all be all[$ "u ?is section ) respect to any vehicle unless1 ) respect to ! batt]y f :i* ! electric motor ( su* vehicle draws electricity1 all ( ! compon5ts conta9$ 9 su* batt]y 7 manufactur$ or assembl$ 9 ,nor? ,am]ica 7z c]tifi$ by ! manufactur]1 9 su* =m or mann] z prescrib$ by ! ,secret>y74 7#c7 ,re/riction on =eign entities ( conc]n ,no cr$it %all be all[$ "u ?is section :i* respect to any vehicle plac$ 9 s]vice aft] ,decemb] #ca1 #bjbd1 if any ( ! applicable critical m9]als conta9$ 9 ! batt]y ( su* vehicle 7z describ$ 9 p>agraph 7#a77 7 extract$1 process$1 or recycl$ by a =eign entity ( conc]n 7z def9$ 9 section #djbjg7;a77#e7 ( ! ,infra/ructure ,inve/m5t & ,jobs ,act 7#db ,u4,s4,c4 #ahgda7;a77#e7774 4 7#b7 ,con=m+ am5dm5t ,section #cj;,d7d7 is am5d$ by /rik+ p>agraph 7#g74 7e7 ,transf] ( cr$it repeal$ 7#a7 ,9 g5]al ,section #cj;,d is am5d$ by /rik+ subsection 7g74 7#b7 ,con=m+ am5dm5ts rev]s$ ,section #cj;,d7f7 is am5d$-- 7,a7 by ins]t+ aft] p>agraph 7#b7 ! foll[+3 7#c7 ,prop]ty us$ by tax-exempt entity ,9 ! case ( a vehicle ! use ( :i* is describ$ 9 p>agraph 7#c7 or 7#d7 ( section #ej7;b7 & :i* is n subject to a lease1 ! p]son :o sold su* vehicle to ! p]son or entity us+ su* vehicle %all be treat$ z ! taxpay] t plac$ su* vehicle 9 s]vice1 b only if su* p]son cle>ly discloses to su* p]son or entity 9 a docum5t ! am\nt ( any cr$it all[able "u subsection 7a7 ) respect to su* vehicle 7det]m9$ )\t reg>d to subsection 7c774 ,= purposes ( subsection 7c71 prop]ty to :i* ?is p>agraph applies %all be treat$ z ( a "* subject to an all[ance = depreciation4 1 & 7,b7 9 p>agraph 7#h71 by /rik+ 1 includ+ any vehicle ) respect to :i* ! taxpay] elects ! application ( subsection 7g74 7f7 ,re9/atem5t ( limitation on numb] ( vehicles eligible = cr$it ,section #cj;,d is am5d$ by ins]t+ aft] subsection 7f7 ! foll[+3 7g7 ,limitation on numb] ( new qualifi$ plug-9 electric drive motor vehicles eligible = cr$it 7#a7 ,9 g5]al ,9 ! case ( a new qualifi$ plug-9 electric drive motor vehicle sold dur+ ! phase\t p]iod1 only ! applicable p]c5tage ( ! cr$it o!rwise all[able "u subsection 7a7 %all be all[$4 7#b7 ,phase\t p]iod ,= purposes ( ?is subsection1 ! phase\t p]iod is ! p]iod beg9n+ ) ! second cal5d> qu>t] foll[+ ! cal5d> qu>t] :i* includes ! fir/ date on :i* ! numb] ( new qualifi$ plug-9 electric drive motor vehicles manufactur$ by ! manufactur] ( ! vehicle ref]r$ to 9 p>agraph 7#a7 sold = use 9 ! ,unit$ ,/ates aft] ,decemb] #ca1 #bjji1 is at lea/ #bjj1jjj4 7#c7 ,applicable p]c5tage ,= purposes ( p>agraph 7#a71 ! applicable p]c5tage is-- 7,a7 #ej p]c5t = ! fir/ #b cal5d> qu>t]s ( ! phase\t p]iod1 7,b7 #be p]c5t = ! #crd & #d? cal5d> qu>t]s ( ! phase\t p]iod1 & 7,c7 #j p]c5t = ea* cal5d> qu>t] !reaft]4 7#d7 ,controll$ gr\ps ,rules simil> to ! rules ( section #cj;,b7f77#d7 %all apply = purposes ( ?is subsection4 4 7g7 ,t]m9ation repeal$ ,section #cj;,d is am5d$ by /rik+ subsection 7h74 7h7 ,additional con=m+ am5dm5ts 7#a7 ,! head+ ( section #cj;,d is am5d$ by /rik+ clean vehicle cr$it & ins]t+ new qualifi$ plug-9 electric drive motor vehicles4 7#b7 ,section #cj;,b7h77#h7 is am5d$ by ins]t+ 1 except t no b5efit %all be recaptur$ if su* prop]ty ceases to be eligible = su* cr$it by reason ( conv]sion to a qualifi$ plug-9 electric drive motor vehicle1 be=e ! p]iod at ! end4 7#c7 ,section #ch7;b77#cj7 is am5d$ by /rik+ clean & ins]t+ qualifi$ plug-9 electric drive motor4 7#d7 ,! table ( sections = subp>t ,b ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by /rik+ ! item relat+ to section #cj;,d & ins]t+ aft] ! item relat+ to section #cj;,c ! foll[+ item3 ,sec4 #cj;,d4 ,new qualifi$ plug-9 electric drive motor vehicles4 7i7 ,gross up repeal$ ,section #acdja ( ,public ,law #aag-afi is am5d$ by /rik+ subsection 7j74 7j7 ,effective dates 7#a7 ,9 g5]al ,except z o!rwise provid$ 9 ?is subsection or subsection 7k71 ! am5dm5ts made by ?is section %all apply to vehicles plac$ 9 s]vice aft] ,june #i1 #bjbc4 7#b7 ,f9al assembly & manufactur] limitation ,! am5dm5ts made by subsections 7b7 & 7f7 %all apply to vehicles sold aft] ,june #i1 #bjbc4 ,not)/&+ ! prec$+ s5t5ce1 ! phase\t p]iod 7z def9$ 9 section #cj;,d7g7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z am5d$ by ?is section7 %all be det]m9$ by tak+ into acc\nt all vehicles describ$ 9 section #cj;,d7g7 ( su* ,code 7z s am5d$74 7k7 ,transition rule ,not)/&+ subsection 7j7 7o!r ?an ! la/ s5t5ce ( subsection 7j77#b771 ! am5dm5ts made by ?is section %all n apply ) respect to any vehicle :i* is-- 7#a7 acquir$ by ! taxpay] pursuant to a writt5 b9d+ contract t 0 9 effect on ,june #i1 #bjbc1 & 7#b7 plac$ 9 s]vice be=e ,june #i1 #bjbd4 7l7 ,coord9ation ) provisions :i* h n tak5 effect 7#a7 ,transf] ( cr$it ,not)/&+ subsection 7k77#d7 ( section #acdja ( ,public ,law #aag-afi1 ! am5dm5ts made by subsection 7g7 ( su* section %all n apply4 7#b7 ,p] vehicle doll> limits & relat$ requirem5ts ,not)/&+ subsection 7k77#c7 ( section #acdja ( ,public ,law #aag-afi1 ! am5dm5ts made by subsection 7a7 ( su* section %all n apply unless ! guidance ref]r$ to 9 su* subsection 7k77#c7 is issu$ on or be=e ,june #i1 #bjbc4 #cjd4 ,repeal ( cr$it = previ\sly-own$ clean vehicles 7a7 ,9 g5]al ,subp>t ,a ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by /rik+ section #be;,e 7& by /rik+ ! item relat+ to su* section 9 ! table ( sections = su* subp>t74 7b7 ,con=m+ am5dm5t ,section #fbac7;g77#b7 is am5d$-- 7#a7 9 subp>agraph 7,t71 by add+ & at ! end1 7#b7 by /rik+ subp>agraph 7,u71 & 7#c7 by r$esignat+ subp>agraph 7,v7 z subp>agraph 7,u74 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to vehicles acquir$ aft] ,june #i1 #bjbc4 7d7 ,transition rule ,not)/&+ subsection 7c71 ! am5dm5ts made by ?is section %all n apply ) respect to any vehicle :i* is-- 7#a7 acquir$ by ! taxpay] pursuant to a writt5 b9d+ contract t 0 9 effect on ,june #i1 #bjbc1 & 7#b7 plac$ 9 s]vice be=e ,june #i1 #bjbd4 7e7 ,coord9ation ) provisions :i* h n tak5 effect ,not)/&+ subsection 7c77#b7 ( section #acdjb ( ,public ,law #aag-afi1 ! am5dm5ts made by subsection 7b7 ( su* section %all n apply4 #cje4 ,repeal ( cr$it = qualifi$ comm]cial clean vehicles 7a7 ,9 g5]al ,subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by /rik+ section #de,w 7& by /rik+ ! item relat+ to su* section 9 ! table ( sections = su* subp>t74 7b7 ,con=m+ am5dm5ts 7#a7 ,section #ch7;b71 z am5d$ by ! prec$+ provisions ( ?is section1 is am5d$ by /rik+ p>agraph 7#cg7 & r$esignat+ p>agraphs 7#ch7 ?r\gh 7#dj7 z p>agraphs 7#cg7 ?r\gh 7#ci71 respectively4 7#b7 ,section #fbac7;g77#b71 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$-- 7,a7 9 subp>agraph 7,s71 by add+ & at ! end1 7,b7 9 subp>agraph 7,t71 by /rik+ 1 & & ins]t+ a p]iod1 & 7,c7 by /rik+ subp>agraph 7,u74 7#c7 ,section #fdag7;b71 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by /rik+ p>agraph 7#f7 & r$esignat+ p>agraphs 7#g7 ?r\gh 7#aj7 z p>agraphs 7#f7 ?r\gh 7#i71 respectively4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to vehicles acquir$ aft] ,june #i1 #bjbc4 7d7 ,transition rule ,not)/&+ subsection 7c71 ! am5dm5ts made by ?is section %all n apply ) respect to any vehicle :i* is-- 7#a7 acquir$ by ! taxpay] pursuant to a writt5 b9d+ contract t 0 9 effect on ,june #i1 #bjbc1 & 7#b7 plac$ 9 s]vice be=e ,june #i1 #bjbd4 ,june #cj1 #bjbc,report$ ) an am5dm5t1 committ$ to ! ,committee ( ! ,:ole ,h\se on ! ,/ate ( ! ,union1 & ord]$ to be pr9t$