,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #acbh  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,febru>y #ac1         
#bjbe,ms4 ,malliotakis 7= h]self1 ,mr4  
,panetta1 ,mr4 ,bu*anan1 ,ms4 ,velzquez1
 ,mr4 ,kelly ( ,p5nsylvania1 ,mr4       
,h]nndez1 & ,mr4 ,lawl]7 introduc$ !    
foll[+ bill2 :i* 0 ref]r$ to !          
,committee on ,ways & ,means  ,a ,,bill 
,to am5d ! ,int]nal ,rev5ue ,code (     
#aihf to e/abli% ! critical supply *a9s 
re%or+ inve/m5t tax cr$it4  #a4 ,%ort   
title ,?is ,act may be cit$ z ! ,supply 
,*a9 ,security & ,gr[? ,act ( #bjbe4    
#b4 ,critical supply *a9s re%or+        
inve/m5t cr$it  7a7 ,9 g5]al ,subp>t ,e 
( "p ,,iv ( sub*apt] ,a ( ! ,int]nal    
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 aft] section #dh;,e ! foll[+ new       
section3  #dh;,f4 ,critical supply *a9s 
re%or+ inve/m5t cr$it  7a7 ,9 g5]al ,=  
purposes ( section #df1 9 ! case ( a    
qualify+ taxpay]1 ! critical supply *a9s
 re%or+ inve/m5t cr$it is an am\nt equal
 to #dj p]c5t ( ! qualifi$ inve/m5t )   

respect to any critical supply *a9      
facility plac$ 9 s]vice dur+ su* taxable
 ye>4  7b7 ,def9itions & special rules  
,= purposes ( ?is section-- 7#a7        
,qualify+ taxpay]  7,a7 ,9 g5]al ,! t]m 
qualify+ taxpay] means a taxpay] t is n 
a prohibit$ =eign entity4  7,b7         
,prohibit$ =eign entity ,= purposes (   
?is p>agraph1 ! t]m prohibit$ =eign     
entity means-- 7i7 any =eign entity (   
conc]n 7z def9$ 9 section #djbjg7;a77#e7
 ( ! ,infra/ructure ,inve/m5t & ,jobs   
,act71  7ii7 any entity ) respect to :i*
 ! gov]nm5t ( a cov]$ nation has ! "r or
 p[] 7directly or indirectly7 to appo9t 
or approve ! appo9tm5t ( a cov]$ (fic]1 
or  7iii7 any entity #be p]c5t or m ( ! 
capital or pr(its int]e/s ( :i* are own$
 7directly or indirectly7 9 ! aggregate 
by #a or m ( ! foll[+3 7,i7 ,a cov]$    
nation or an entity describ$ 9 clause   
7i7 or 7ii74  7,,ii7 ,a citiz51         
national1 or resid5t ( a cov]$ nation4  
7,,iii7 ,an entity organiz$ "u ! laws ( 
a cov]$ nation4  7,c7 ,cov]$ (fic] ,=   

purposes ( ?is p>agraph1 ! t]m cov]$    
(fic] means-- 7i7 any memb] ( ! bo>d (  
directors1 bo>d ( sup]visors1 or an     
equival5t gov]n+ body1  7ii7 ! presid5t1
 s5ior vice presid5t1 *ief executive    
(fic]1 *ief op]at+ (fic]1 *ief f9ancial 
(fic]1 or g5]al c\nsel1 or  7iii7 any   
individual :o p]=ms duties usually      
associat$ ) a title li/$ 9 clause 7i7 or
 7ii74  7,d7 ,cov]$ nation ,= purposes (
 ?is p>agraph1 ! t]m cov]$ nation has ! 
mean+ giv5 su* t]m 9 section #dhgb7;d7 (
 title #aj1 ,unit$ ,/ates ,code4  7#b7  
,qualifi$ inve/m5t ,! qualifi$ inve/m5t 
) respect to any critical supply *a9    
facility = any taxable ye> is an am\nt  
equal to ! basis ( any qualifi$ prop]ty 
plac$ 9 s]vice by ! taxpay] dur+ su*    
taxable ye> :i* is "p ( a su* facility4 
7#c7 ,qualify+ prop]ty  7,a7 ,9 g5]al ,!
 t]m qualify+ prop]ty means prop]ty--   
7i7 t is integral to ! op]ation ( a     
critical supply *a9 facility1  7ii7 t is
 tangible prop]ty1  7iii7 ) respect to  
:i* depreciation 7or amortization 9 lieu

 ( depreciation7 is all[able1 &  7iv7   
:i* is-- 7,i7 con/ruct$1 recon/ruct$1 or
 erect$ by ! taxpay]1 or  7,,ii7 acquir$
 by ! taxpay] if ! orig9al use ( su*    
prop]ty comm5ces ) ! taxpay]4  7,b7     
,recon/ruct$ prop]ty ,prop]ty %all be   
treat$ z recon/ruct$ = purposes ( ?is   
p>agraph if improvem5ts to su* prop]ty  
satisfy ! sub/antial improvem5t te/ (   
section #adjj,z-#b7;d77#b77;,d77ii74    
7#d7 ,critical supply *a9 facility ,!   
t]m critical supply *a9 facility means a
 facility-- 7,a7 ! prim>y purpose ( :i* 
is ! manufactur+ (-- 7i7 ,an active     
ph>maceutical +r$i5t 7z def9$ 9 section 
#bjag4a ( title #ba1 ,code ( ,f$]al     
,regulations 7or any successor          
regulations771  7ii7 ,a drug 7z def9$ 9 
section #bja7;g7 ( ! ,f$]al ,food1      
,drug1 & ,cosmetic ,act71  7iii7 ,a     
biological product 7z def9$ 9 section   
#cea7;i77#a7 ( ! ,public ,heal? ,s]vice 
,act71  7iv7 ,a m$ical c\nt]measure 7z  
def9$ 9 section #cai;,f-#c7;i77#a7 ( !  
,public ,heal? ,s]vice ,act71  7v7 ,a   

m$ical diagno/ic device 7z def9$ 9      
section #bja7;h7 ( ! ,f$]al ,food1      
,drug1 & ,cosmetic ,act7 int5d$ = use 9 
! diagnosis ( disease or o!r conditions1
  7vi7 ,semiconductors or semiconductor 
manufactur+ equipm5t1  7vii7 ,a]ospace  
equipm5t z def9$ "u ,nor? ,am]ican      
,indu/ry ,classification ,code #ccfd1 or
  7viii7 ,artificial nanomat]ials1 &    
7,b7 locat$ 9-- 7i7 a specifi$          
possession )9 ! mean+ ( section         
#icg7;c71  7ii7 or ,pu]to ,rico4  7#e7  
,aggregation rule  7,a7 ,9 g5]al ,memb]s
 ( a qualifi$ affiliat$ gr\p %all be    
treat$ z a s+le taxpay]4  7,b7 ,qualifi$
 affiliat$ gr\p  7i7 ,9 g5]al ,! t]m    
qualifi$ affiliat$ gr\p means an        
affiliat$ gr\p 7z def9$ 9 section       
#aejd7;a71 det]m9$ )\t reg>d to section 
#aejd7;b77#c77 at lea/ #a memb] ( :i*   
has made a qualifi$ inve/m5t 9 a        
critical supply *a9 facility locat$ 9 an
 economically di/ress$ zone4  7ii7      
,economically di/ress$ zone ,= purposes 
( ?is subp>agraph1 ! t]m economically   

di/ress$ zone means a population c5sus  
tract t-- 7,i7 is a qualifi$ opportunity
 zone 7z def9$ 9 section #adjjz-#a7;a771
 &  7,,ii7 has a pov]ty rate ( n less   
?an #cj p]c5t4  7#f7 ,exemption f c]ta9 
special rules ,! cr$it det]m9$ "u       
subsection 7a7 %all be det]m9$ )\t reg>d
 to p>agraphs 7#a7 & 7#d7 ( section     
#ej7;b74  4  7b7 ,coord9ation betwe5    
critical supply *a9s re%or+ cr$it &     
electricity production cr$it ,section   
#de7;e7 ( su* ,code is am5d$ by add+ at 
! end ! foll[+ new subsection3  7e7     
,coord9ation ) critical supply *a9s     
re%or+ inve/m5t cr$it ,! t]m qualifi$   
facility %all n include any facility if 
a cr$it is all[$ "u section #dh;,f )    
respect to su* facility = ! taxable ye> 
or any prior taxable ye>4  4  7c7       
,elective paym5t all[$  7#a7 ,9 g5]al   
,section #fdag7;b7 ( su* ,code is am5d$ 
by add+ at ! end ! foll[+3  7#ac7 ,!    
critical supply *a9s re%or+ inve/m5t    
cr$it det]m9$ "u section #dh;,f4  4     
7#b7 ,election to be treat$ z applicable

 entity ,section #fdag7;d77#a7 is       
am5d$-- 7,a7 by r$esignat+ subp>agraph  
7,e7 z subp>agraph 7,f71 &  7,b7 by     
ins]t+ aft] subp>agraph 7,d7 ! foll[+   
new subp>agraph3  7,e7 ,election )      
respect to critical supply *a9s re%or+  
cr$it ,if a taxpay] o!r ?an an entity   
describ$ 9 subp>agraph 7,a7 makes an    
election "u ?is subp>agraph ) respect to
 any taxable ye> 9 :i* su* taxpay] has  
plac$ 9 s]vice a critical supply *a9    
facility 7z def9$ 9 section             
#dh;,f7b77#d771 su* taxpay] %all be     
treat$ z an applicable entity = purposes
 ( ?is section = su* taxable ye>1 b only
 ) respect to ! cr$it describ$ 9        
subsection 7b77#ac74  4  7d7 ,cr$it made
 transf]able ,section #fdah7;f77#a77;,a7
 ( su* ,code is am5d$ by add+ at ! end !
 foll[+3  7xii7 ,! critical supply *a9s 
re%or+ inve/m5t cr$it det]m9$ "u section
 #dh;,f4  4  7e7 ,cr$it includ$ 9       
inve/m5t cr$it ,section #df ( su* ,code 
is am5d$ by /rik+ & at ! end ( p>agraph 
7#f71 by /rik+ ! p]iod at ! end (       

p>agraph 7#g7 & ins]t+ 1 &1 & by add+ at
 ! end ! foll[+ new p>agraph3  7#h7 !   
critical supply *a9s re%or+ inve/m5t    
cr$it4  4  7f7 ,effective date ,!       
am5dm5ts made by ?is section %all apply 
to prop]ty plac$ 9 s]vice aft] ,decemb] 
#ca1 #bjbd4  #c4 ,increase 9 deem$ cr$it
 = taxes paid to possession ( ! ,unit$  
,/ates  7a7 ,9 g5]al ,section #ifj7;d7 (
 ! ,int]nal ,rev5ue ,code ( #aihf is    
am5d$ by add+ at ! end ! foll[+ new     
p>agraph3  7#d7 ,increase = taxes paid  
to possession ( ,unit$ ,/ates ,9 ! case 
( te/$ =eign income taxes paid or accru$
 to a possession ( ! ,unit$ ,/ates1     
p>agraph 7#a7 %all be appli$ by         
sub/itut+ #ajj p]c5t = #hj p]c5t4  4    
7b7 ,effective date ,! am5dm5ts made by 
?is section %all apply to taxes paid or 
accru$ aft] ,decemb] #ca1 #bjbd4