,i  #aai? ,,congress  #b;d ,session  ,h4
 ,r4 #gbde  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,janu>y #bg1 #bjbf,ms4
 ,bynum introduc$ ! foll[+ bill2 :i* 0  
ref]r$ to ! ,committee on ,ways & ,means
  ,a ,,bill  ,to am5d ! ,int]nal ,rev5ue
 ,code ( #aihf to e/abli% ! mass timb]  
plant inve/m5t cr$it1 ! mass timb]      
work=ce developm5t cr$it1 & ! mass timb]
 con/ruction cr$it4  #a4 ,%ort title    
,?is ,act may be cit$ z ! ,lev]ag+      
,inve/m5t 9 ,mass ,build+ & ,employm5t )
 ,r5ewable ,timb] ,act ( #bjbf or !     
,,limb] ,timb] ,act ( #bjbf4  #b4 ,mass 
timb] plant inve/m5t cr$it  7a7 ,9 g5]al
 ,subp>t ,e ( "p ,,iv ( sub*apt] ,a (   
*apt] #a ( subtitle ,a ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 aft] section #dh;,e ! foll[+ new       
section3  #dh;,f4 ,mass timb] plant     
inve/m5t cr$it  7a7 ,9 g5]al ,= purposes
 ( section #df1 ! mass timb] plant      
inve/m5t cr$it = any taxable ye> is an  
am\nt equal to #cj p]c5t ( ! qualifi$   
inve/m5t ) respect to any qualify+ mass 

timb] plant if ! taxpay]4  7b7 ,qualifi$
 inve/m5t  7#a7 ,9 g5]al ,= purposes (  
subsection 7a71 ! qualifi$ inve/m5t =   
any taxable ye> is ! basis ( eligible   
prop]ty plac$ 9 s]vice by ! taxpay] dur+
 su* taxable ye> :i* is "p ( a qualify+ 
mass timb] plant4  7#b7 ,c]ta9 qualifi$ 
progress exp5ditures rules made         
applicable ,rules simil> to ! rules (   
subsections 7c77#d7 & 7d7 ( section #df 
7z 9 effect on ! day be=e ! enactm5t ( !
 ,rev5ue ,reconciliation ,act ( #aiij7  
%all apply = purposes ( ?is section4    
7c7 ,def9itions ,= purposes ( ?is       
section-- 7#a7 ,qualify+ mass timb]     
plant ,! t]m qualify+ mass timb] plant  
means a facility = manufacture ( mass   
timb]4  7#b7 ,mass timb] ,! t]m mass    
timb] means eng9e]$ wood products =m$ by
 bond+ or me*anically fa/5+ lay]s1      
lam9ations1 or elem5ts ( wood to =      
/ructural compon5ts capable ( be>+      
gravity & lat]al loads1 includ+-- 7,a7  
cross-lam9at$ timb]1  7,b7 glue-lam9at$ 
timb]1  7,c7 d[el-lam9at$ timb]1  7,d7  

nail-lam9at$ timb]1  7,e7 lam9at$ v5e]  
lumb] design$ = use z a prim>y /ructural
 elem5t1  7,f7 /ructural composite lumb]
 & o!r eng9e]$ wood products designat$ z
 mass timb] "u ! ,int]national ,build+  
,code1 &  7,g7 su* o!r eng9e]$ wood     
products z ! ,secret>y1 9 consultation )
 ! ,secret>ies ( ,agriculture & ,en]gy1 
det]m9e appropriate4  7#c7 ,eligible    
prop]ty ,! t]m eligible prop]ty means   
any prop]ty-- 7,a7 :i* is necess>y =--  
7i7 ! production ( mass timb]1  7ii7    
re-equipp+1 exp&+1 or e/abli%+ a        
qualify+ mass timb] plant1  7,b7 :i*    
is-- 7i7 tangible p]sonal prop]ty1 or   
7ii7 o!r tangible prop]ty 7n includ+ a  
build+ or its /ructural compon5ts71 b   
only if su* prop]ty is us$ z an integral
 "p ( ! qualify+ mass timb] plant1 &    
7,c7 ) respect to :i* depreciation 7or  
amortization 9 lieu ( depreciation7 is  
all[able4  7d7 ,t]m9ation ,no cr$it %all
 be det]m9$ "u subsection 7a7 = any     
taxable ye> beg9n+ aft] ,decemb] #ca1   
#bjcj4  4  7b7 ,con=m+ am5dm5ts  7#a7   

,section #df ( su* ,code is am5d$-- 7,a7
 9 p>agraph 7#f71 by /rik+ &1  7,b7 9   
p>agraph 7#g71 by /rik+ ! p]iod & ins]t+
 1 &1 &  7,c7 by add+ at ! end ! foll[+ 
new p>agraph3  7#h7 ! mass timb] plant  
inve/m5t cr$it4  4  7#b7 ,section       
#di7;a77#a77;,c7 ( su* ,code is am5d$-- 
7,a7 9 clause 7vii71 by /rik+ &1  7,b7 9
 clause 7viii71 by /rik+ ! p]iod &      
ins]t+ 1 &1 &  7,c7 by add+ at ! end !  
foll[+ new clause  7ix7 ! basis ( any   
qualify+ mass timb] plant "u section    
#dh;,f4  4  7#c7 ,section               
#ej7;a77#b77;,e7 ( su* ,code is am5d$ by
 /rik+ or #dh;,e7e7 & ins]t+ #dh;,e7e71 
or #dh;,f7b77#b74  7c7 ,cl]ical am5dm5t 
,! table ( sections = subp>t ,e ( "p    
,,iv ( sub*apt] ,a ( *apt] #a ( subtitle
 ,a ( su* ,code is am5d$ by ins]t+ aft] 
! item relat+ to section #dh;,e ! foll[+
 new item3  ,sec4 #dh;,f4 ,mass timb]   
plant inve/m5t cr$it4  4  7d7 ,effective
 date ,! am5dm5ts made by ?is section   
%all apply to prop]ty plac$ 9 s]vice    
aft] ! date ( ! enactm5t ( ?is ,act4    

#c4 ,mass timb] work=ce developm5t cr$it
  7a7 ,9 g5]al ,subp>t ,d ( "p ,,iv (   
sub*apt] ,a ( *apt] #a ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new section3  #de,u4  
,mass timb] work=ce developm5t cr$it    
7a7 ,9 g5]al ,= ! purposes ( section    
#ch1 9 ! case ( an eligible taxpay]1 !  
mass timb] work=ce developm5t cr$it     
det]m9$ "u ?is section = any taxable ye>
 is an am\nt equal to #ej p]c5t ( !     
qualifi$ exp5ses ( ! taxpay] = ! taxable
 ye>4  7b7 ,eligible taxpay] ,= purposes
 ( ?is section1 ! t]m eligible taxpay]  
means a taxpay] 9 ! trade or bus9ess (--
 7#a7 manufactur+ mass timb] products1  
7#b7 con/ruction contract+1 fabrication1
 or in/all+ mass timb] products or      
/ructures made f mass timb] products1 or
  7#c7 ar*itecture & eng9e]+ relat+ to  
mass timb] design1 in/allation1 or      
con/ruction4  7c7 ,qualifi$ exp5ses     
7#a7 ,9 g5]al ,= purposes ( ?is section1
 ! t]m qualifi$ exp5ses means any ( !   
foll[+ exp5ses incurr$ = ! purposes (   

conduct+ an activity describ$ 9         
subsection 7b73 7,a7 ,hir+ & recruitm5t 
exp5ses4  7,b7 ,tra9+ exp5ses4  7,c7    
,wages paid to an individual p>ticipat+ 
9-- 7i7 a regi/]$ appr5tice%ip program  
7z def9$ 9 section #caca7;e77#c77;,b771 
7ii7 a ,/ate work=ce tra9+ program1 or  
7iii7 an indu/ry-recogniz$ tra9+        
program4  7#b7 ,requirem5ts ,an activity
 meets ! requirem5ts ( ?is p>agraph if--
 7,a7 n less ?an #gj p]c5t ( ! mass     
timb] us$ to c>ry out su* activity is f 
s\rces ( mass timb] c]tifi$ by ! ,=e/   
,/ew>d%ip ,c\ncil1 ! ,su/a9able ,=e/    
,initiative1 or a ,/ate or ,f$]al =e/   
manag$ "u an approv$ =e/ managem5t plan1
 &  7,b7 9 ! case ( a /ructure con/ruct$
 by ! taxpay]1 n less ?an #ej p]c5t ( ! 
load-be>+ /ructural compon5ts mu/ consi/
 ( mass timb]4  7#c7 ,limitation ,!     
am\nt tak5 into acc\nt ) respect to any 
employee ( a taxpay] "u p>agraph 7#a7 = 
any taxable ye> %all n exce$ #h1jjj4    
7d7 ,mass timb] ,= purposes ( ?is       
section1 ! t]m mass timb] has ! mean+   

giv5 su* t]m 9 section #dh;,f7c77#b74   
7e7 ,t]m9ation ,no cr$it %all be det]m9$
 "u subsection 7a7 = any taxable ye>    
beg9n+ aft] ,decemb] #ca1 #bjcj4  4  7b7
 ,cr$it ,to be "p ( g5]al bus9ess cr$it 
,section #ch7;b7 ( su* ,code is am5d$ by
 /rik+ plus at ! end ( p>agraph 7#cb71  
by /rik+ ! p]iod at ! end ( p>agraph    
7#cc7 & ins]t+ 1 plus1 & by add+ at !   
end ! foll[+ new p>agraph3  7#cd7 9 !   
case ( an eligible taxpay] 7z def9$ 9   
section #de,u71 ! mass timb] work=ce    
developm5t cr$it det]m9$ "u section     
#de,u7a74  4  7c7 ,cl]ical am5dm5t ,!   
table ( sections = subp>t ,d ( "p ,,iv (
 sub*apt] ,a ( *apt] #a ( su* ,code is  
am5d$ by ins]t+ aft] ! item relat+ to   
section #de,t ! foll[+ new item3  ,sec4 
#de,u4 ,mass timb] work=ce developm5t   
cr$it4  4  7d7 ,effective date ,!       
am5dm5ts made by ?is section %all apply 
to exp5ses paid or incurr$ aft] ! date (
 ! enactm5t ( ?is section4  #d4 ,mass   
timb] con/ruction cr$it  7a7 ,9 g5]al   
,subp>t ,d ( "p ,,iv ( sub*apt] ,a (    

*apt] #a ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$ by add+ at ! end ! foll[+
 new section3  #de,v4 ,mass timb]       
con/ruction cr$it  7a7 ,9 g5]al ,= !    
purposes ( section #ch1 ! mass timb]    
con/ruction cr$it det]m9$ "u ?is section
 = any taxable ye> is an am\nt equal to 
! product (-- 7#a7 ! squ>e footage (    
/ructures plac$ 9 s]vice by ! taxpay]   
dur+ ! taxable ye> 9 ! c\rse ( ! trade  
or bus9ess ( ! taxpay] :i* meet !       
requirem5ts ( subsection 7b71 multipli$ 
by  7#b7 #e4  7b7 ,requirem5ts  7#a7 ,9 
g5]al ,a /ructure meets ! requirem5ts ( 
?is p>agraph if-- 7,a7 n less ?an #gj   
p]c5t ( ! mass timb] us$ to con/ruct su*
 /ructure is f s\rces ( mass timb]      
c]tifi$ by ! ,=e/ ,/ew>d%ip ,c\ncil1 !  
,su/a9able ,=e/ ,initiative1 or a ,/ate 
or ,f$]al =e/ manag$ "u an approv$ =e/  
managem5t plan1 &  7,b7 n less ?an #ej  
p]c5t ( ! load-be>+ /ructural compon5ts 
( su* /ructure consi/ ( mass timb]4     
7#b7 ,mass timb] ,= purposes ( ?is      
subsection1 ! t]m mass timb] has ! mean+

 giv5 su* t]m 9 section #dh;,f7c77#b74  
7c7 ,t]m9ation ,no cr$it %all be det]m9$
 "u subsection 7a7 = any taxable ye>    
beg9n+ aft] ,decemb] #ca1 #bjcj4  4  7b7
 ,cr$it ,to be "p ( g5]al bus9ess cr$it 
,section #ch7;b7 ( su* ,code is am5d$ by
 /rik+ plus at ! end ( p>agraph 7#cc71  
by /rik+ ! p]iod at ! end ( p>agraph    
7#cd7 & ins]t+ 1 plus1 & by add+ at !   
end ! foll[+ new p>agraph3  7#ce7 ! mass
 timb] con/ruction cr$it det]m9$ "u     
section #de,v7a74  4  7c7 ,cl]ical      
am5dm5t ,! table ( sections = subp>t ,d 
( "p ,,iv ( sub*apt] ,a ( *apt] #a ( su*
 ,code is am5d$ by ins]t+ aft] ! item   
relat+ to section #de,t ! foll[+ new    
item3  ,sec4 #de,v4 ,mass timb]         
con/ruction cr$it4  4  7d7 ,effective   
date ,! am5dm5ts made by ?is section    
%all apply /ructures plac$ 9 s]vice aft]
 ! date ( ! enactm5t ( ?is section4