,,ii  #aai? ,,congress  #a/ ,session    
,s4 #aecf  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,april #cj1 #bjbe,mr4  
,kelly 7= himself1 ,mr4 ,"y1 ,ms4       
,murk[ski1 ,ms4 ,baldw91 & ,mr4         
,fett]man7 introduc$ ! foll[+ bill2 :i* 
0 read twice & ref]r$ to ! ,committee on
 ,f9ance  ,a ,,bill  ,to am5d ! ,int]nal
 ,rev5ue ,code ( #aihf to support !     
national def5se & economic security ( ! 
,unit$ ,/ates by support+ vessels1      
ports1 & %ipy>ds ( ! ,unit$ ,/ates & !  
,unit$ ,/ates m>itime work=ce ?r\gh tax 
policy4  #a4 ,%ort title2 table (       
cont5ts  7a7 ,%ort title ,?is ,act may  
be cit$ z ! ,build+ ,%ips 9 ,am]ica ,act
 ( #bjbe4  7b7 ,table ( cont5ts ,! table
 ( cont5ts ( ?is ,act is z foll[s3 ,sec4
 #a4 ,%ort title2 table ( cont5ts4,sec4 
#b4 ,unit$ ,/ates vessel inve/m5t       
cr$it4,sec4 #c4 ,c]ta9 paym5ts = m>itime
 security exclud$ f gross income4,sec4  
#d4 ,elim9ation ( #cj-;day limitation on
 dome/ic op]ations4,sec4 #e4 ,qualify+  
%ipp+ activities4,sec4 #f4 ,qualify+    

vessel4,sec4 #g4 ,cr$it = con/ruction ( 
%ipy>d facilities4,sec4 #h4 ,tax        
inc5tives relat+ to m]*ant m>9e capital 
con/ruction funds4,sec4 #i4 ,exemption (
 /ud5t inc5tive paym5t agreem5ts f gross
 income4,sec4 #aj4 ,m>itime fuel tax    
p>ity4,sec4 #aa4 ,treatm5t ( m>itime    
prosp]ity zones z opportunity zones4    
#b4 ,unit$ ,/ates vessel inve/m5t cr$it 
7a7 ,9 g5]al ,subp>t ,e ( "p ,,iv (     
sub*apt] ,a ( *apt] #a ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 aft] section #dh;,e ! foll[+ new       
section3  #dh;,f4 ,unit$ ,/ates vessel  
inve/m5t cr$it  7a7 ,9 g5]al ,= purposes
 ( section #df1 ! ,unit$ ,/ates ,vessel 
,inve/m5t cr$it = any taxable ye> is an 
am\nt equal to ! applicable p]c5tage (  
any qualifi$ inve/m5t = su* taxable ye> 
) respect to any qualifi$ vessel4  7b7  
,applicable p]c5tage ,= purposes (      
subsection 7a71 ! applicable p]c5tage ) 
respect to any qualifi$ vessel %all be  
an am\nt equal to ! sum (-- 7#a7 #cc    
p]c5t1 plus  7#b7 9 ! case ( any        

qualifi$ vessel = :i* ! own] ( su*      
vessel w1 z "p ( ! agreem5t describ$ 9  
subsection 7d77#a77;,f7 & = ! duration (
 su* agreem5t1 obta9 protection &       
indemnity insurance ) respect to su*    
vessel f an insurance company t is      
domicil$ & headqu>t]$ 9 ! ,unit$ ,/ates 
& is an und]writ] t is approv$ by !     
,m>itime ,adm9i/rator1 #e p]c5t1 plus   
7#c7 9 ! case ( any qualifi$ vessel :i* 
is classifi$ by & design$ 9 accordance )
 ! rules ( ! ,am]ican ,bureau ( ,%ipp+  
or any o!r classification society       
headqu>t]$ 9 ! ,unit$ ,/ates & recogniz$
 by ! ,secret>y ( ! dep>tm5t 9 :i* !    
,coa/ ,gu>d is op]at+ 9 accordance )    
section #ccaf ( title #df1 ,unit$ ,/ates
 ,code1 #b p]c5t4  7c7 ,qualifi$        
inve/m5t ,= purposes ( subsection 7a71 !
 qualifi$ inve/m5t ) respect to any     
qualifi$ vessel is equal to ! am\nt paid
 or incurr$ by ! taxpay] 9 connection ) 
! con/ruction1 rep[]+1 or recon/ruction 
( su* vessel-- 7#a7 9 a %ipy>d ( !      
,unit$ ,/ates1 &  7#b7 by an entity :i* 

is n a =eign entity ( conc]n4  7d7      
,qualifi$ vessel  7#a7 ,9 g5]al ,=      
purposes ( ?is section1 ! t]m qualifi$  
vessel means a c>go vessel-- 7,a7 :i* is
 a ,unit$ ,/ates flag vessel 7z def9$ 9 
section #acee71  7,b7 :i*1 9 ! case (   
any rep[]+ or recon/ruction ( su*       
vessel1 0 orig9ally con/ruct$ 9 ! ,unit$
 ,/ates1  7,c7 :i* op]ates 9 provid+    
transportation 9 ! ,unit$ ,/ates =eign  
trade 7z su* t]m is def9$ 9 section     
#acee7;a771  7,d7 :i* is n a pass5g]    
vessel1 z def9$ 9 section #baja ( title 
#df1 ,unit$ ,/ates ,code1  7,e7 :i* is--
 7i7 a bulk c>ri] vessel1  7ii7 a tank] 
vessel1  7iii7 a roll-on_/roll-(f       
vessel1  7iv7 a conta9] vessel1  7v7 a  
multi-purpose vessel1  7vi7 a cable     
vessel1  7vii7 a heavy-lift vessel1 or  
7viii7 any o!r type ( vessel det]m9$    
appropriate by ! ,m>itime ,adm9i/rator1 
7,f7 :i*1 pursuant to an agreem5t betwe5
 ! taxpay] & ! ,m>itime ,adm9i/rator1   
op]ates z a vessel ( ! ,unit$ ,/ates = a
 p]iod ( n less ?an #aj ye>s1  7,g7 :i* 

has ent]$ into an em]g5cy prep>$ness    
agreem5t "u section #ecajg or #ecdjg (  
title #df1 ,unit$ ,/ates ,code1 or a    
cont+5cy agreem5t "u section #ecbjg (   
su* title1 or has o!rwise ent]$ into a  
volunt>y agreem5t & plan ( action ) !   
,adm9i/rator ( ! ,m>itime ,adm9i/ration 
z au?oriz$ "u section #gjh7;c7 ( !      
,def5se ,production ,act ( #aiej 7#ej   
,u4,s4,c4 #deeh7;c771 &  7,h7 !         
con/ruction ( :i* beg9s be=e ,janu>y #a1
 #bjcc4  7#b7 ,exclusion relat$ to =eign
 entities ( conc]n ,! t]m qualifi$      
vessel %all n include a vessel :i*--    
7,a7 is1 or 0 previ\sly1 own$ or op]at$ 
by a =eign entity ( conc]n1  7,b7 0     
con/ruct$1 rep[]$1 or recon/ruct$ 9 a   
%ipy>d :i* is own$ or op]at$ by a =eign 
entity ( conc]n1 or  7,c7 0 regi/]$ z a 
vessel ( a =eign c\ntry ( conc]n at any 
"t prior to be+ plac$ 9 s]vice by !     
taxpay]4  7e7 ,def9itions ,= purposes ( 
?is section-- 7#a7 ,=eign c\ntry (      
conc]n ,! t]m =eign c\ntry ( conc]n     
means-- 7,a7 a c\ntry t is a cov]$      

nation 7z def9$ 9 section #dhgb7;d7 (   
title #aj1 ,unit$ ,/ates ,code71 &  7,b7
 any c\ntry t ! ,m>itime ,adm9i/rator1 9
 consultation ) ! ,secret>y ( ,def5se1 !
 ,secret>y ( ,/ate1 ! ,director (       
,national ,intellig5ce1 & ! ,*air ( !   
,f$]al ,m>itime ,commission1 det]m9es to
 be engag$ 9 conduct t is detrim5tal to 
! national security or =eign policy ( ! 
,unit$ ,/ates4  7#b7 ,=eign entity ,!   
t]m =eign entity-- 7,a7 means-- 7i7 a   
gov]nm5t ( a =eign c\ntry or a =eign    
political p>ty1 z ^? t]ms are def9$ 9   
section #a ( ! ,=eign ,ag5ts            
,regi/ration ,act ( #aich1 z am5d$ 7#bb 
,u4,s4,c4 #faa71  7ii7 a natural p]son  
:o is n a lawful p]man5t resid5t ( !    
,unit$ ,/ates1 a citiz5 ( ! ,unit$      
,/ates1 or any o!r protect$ individual  
7z su* t]m is def9$ 9 section           
#bgd;,b7a77#c7 ( ! ,immigration &       
,nationality ,act 7#h ,u4,s4,c4         
#acbd;b7a77#c7771 or  7iii7 a p>tn]%ip1 
association1 corporation1 organization1 
or o!r comb9ation ( p]sons organiz$ "u !

 laws ( or hav+ its pr9cipal place (    
bus9ess 9 a =eign c\ntry1 &  7,b7       
includes-- 7i7 any p]son 7includ+ an    
own] or op]ator ( a vessel7 own$ by1    
controll$ by1 or subject to ! direction 
( an entity li/$ 9 subp>agraph 7,a71    
7ii7 any p]son1 :]ev] locat$1 :o acts z 
an ag5t1 repres5tative1 or employee ( an
 entity li/$ 9 subp>agraph 7,a71  7iii7 
any p]son :o acts 9 any o!r capacity at 
! ord]1 reque/1 or "u ! direction or    
control1 ( an entity li/$ 9 subp>agraph 
7,a71 or ( a p]son ^: activities are    
directly or indirectly sup]vis$1        
direct$1 controll$1 f9anc$1 or subsidiz$
 9 :ole or 9 major "p by an entity li/$ 
9 subp>agraph 7,a71  7iv7 any p]son :o  
directly or indirectly ?r\gh any        
contract1 arrangem5t1 und]/&+1          
relation%ip1 or o!rwise1 owns #be p]c5t 
or m ( ! equity int]e/s ( an entity li/$
 9 subp>agraph 7,a71  7v7 any p]son )   
significant responsibility to control1  
manage1 or direct an entity li/$ 9      
subp>agraph 7,a71  7vi7 any p]son1 :]ev]

 locat$1 :o is a citiz5 or resid5t ( a  
c\ntry controll$ by an entity li/$ 9    
subp>agraph 7,a71 or  7vii7 any         
corporation1 p>tn]%ip1 association1 or  
o!r organization organiz$ "u ! laws ( a 
c\ntry controll$ by an entity li/$ 9    
subp>agraph 7,a74  7#c7 ,=eign entity ( 
conc]n ,! t]m =eign entity ( conc]n     
means any =eign entity t is-- 7,a7      
designat$ z a =eign t]rori/ organization
 by ! ,secret>y ( ,/ate "u section #bai 
( ! ,immigration & ,nationality ,act 7#h
 ,u4,s4,c4 #aahi71  7,b7 includ$ on !   
li/ ( specially designat$ nationals &   
block$ p]sons ma9ta9$ by ! ,(fice (     
,=eign ,assets ,control ( ! ,dep>tm5t ( 
! ,treasury1  7,c7 own$ by1 controll$   
by1 or subject to ! jurisdiction or     
direction ( a gov]nm5t ( a =eign c\ntry 
( conc]n1  7,d7 alleg$ by ! ,attorney   
,g5]al to h be5 involv$ 9 activities =  
:i* a conviction 0 obta9$ "u-- 7i7 *apt]
 #cg ( title #ah1 ,unit$ ,/ates ,code   
7commonly kn[n z ! ,espionage ,act7 7#ah
 ,u4,s4,c4 #gib et seq471  7ii7 section 

#iea or #ajcj ( title #ah1 ,unit$ ,/ates
 ,code1  7iii7 *apt] #ij ( title #ah1   
,unit$ ,/ates ,code 7commonly kn[n z !  
,economic ,espionage ,act ( #aiif71     
7iv7 ! ,arms ,export ,control ,act 7#bb 
,u4,s4,c4 #bgea et seq471  7v7 section  
#bbd1 #bbe1 #bbf1 #bbg1 or #bcf ( !     
,atomic ,en]gy ,act ( #aied 7#db        
,u4,s4,c4 #bbgd1 #bbge1 #bbgf1 #bbgg1 & 
#bbhd71  7vi7 ! ,export ,control ,re=m  
,act ( #bjah 7#ej ,u4,s4,c4 #dhja et    
seq471 or  7vii7 ! ,int]national        
,em]g5cy ,economic ,p[]s ,act 7#ej      
,u4,s4,c4 #agja et seq471  7,e7         
designat$ by ! ,f$]al ,m>itime          
,commission z a controll$ c>ri] "u *apt]
 #djg ( title #df1 ,unit$ ,/ates ,code1 
7,f7 f\nd by ! ,f$]al ,m>itime          
,commission to be practic+ unfavorable  
conditions 9 =eign trade "u *apt] #dba  
or #dbc ( title #df1 ,unit$ ,/ates      
,code1 or  7,g7 det]m9$ by ! ,m>itime   
,adm9i/rator1 9 consultation ) !        
,secret>y ( ,def5se1 ! ,secret>y (      
,/ate1 ! ,director ( ,national          

,intellig5ce1 & ! ,*air ( ! ,f$]al      
,m>itime ,commission1 to be engag$ 9    
unau?oriz$ conduct t is detrim5tal to ! 
national security or =eign policy ( !   
,unit$ ,/ates4  7f7 ,c]ta9 progress     
exp5diture rules made applicable ,rules 
simil> to ! rules ( subsections 7c77#d7 
& 7d7 ( section #df 7z 9 effect on ! day
 be=e ! date ( ! enactm5t ( ! ,rev5ue   
,reconciliation ,act ( #aiij7 %all apply
 = purposes ( subsection 7a74  7g7      
,regulations ,! ,secret>y1 9            
consultation ) ! ,m>itime ,adm9i/rator1 
%all issue su* regulations or o!r       
guidance z may be necess>y or           
appropriate to c>ry out ! purposes ( ?is
 section1 includ+ any regulations or    
guidance :i* may be necess>y or         
appropriate to recapture ! b5efit ( any 
cr$it det]m9$ "u ?is section ) respect  
to any qualifi$ vessel1 or any increase 
9 ! applicable p]c5tage "u subsection   
7b7 ) respect to any qualifi$ vessel1 9 
! case ( any taxpay] :i* fails to comply
 ) ! t]ms ( ! agreem5t describ$ 9       

subsection 7d77#a77;,f7 ) respect to su*
 qualifi$ vessel4  4  7b7 ,con=m+       
am5dm5ts  7#a7 ,section #df ( ! ,int]nal
 ,rev5ue ,code ( #aihf1 z am5d$ by      
section #acgjb7;b77#a7 ( ,public ,law   
#aag-afi1 is am5d$-- 7,a7 9 p>agraph    
7#f71 by /rik+ & at ! end1  7,b7 9      
p>agraph 7#g71 by /rik+ ! p]iod at ! end
 & ins]t+ 1 &1 &  7,c7 by add+ at ! end 
! foll[+3  7#h7 ! ,unit$ ,/ates ,vessel 
,inve/m5t cr$it4  4  7#b7 ,section      
#di7;a77#a77;,c7 ( su* ,code1 z am5d$ by
 section #acgjb7;b77#b7 ( ,public ,law  
#aag-afi1 is am5d$-- 7,a7 9 clause      
7vii71 by /rik+ & at ! end1  7,b7 9     
clause 7viii71 by /rik+ ! p]iod at ! end
 & ins]t+ 1 &1 &  7,c7 by add+ at ! end 
! foll[+3  7ix7 ) respect to any        
qualifi$ vessel 7z def9$ 9 section      
#dh;,f7d771 ! portion ( ! basis ( su*   
vessel attributable to am\nts paid or   
incurr$ by ! taxpay] 9 connection ) !   
con/ruction1 rep[]+1 or recon/ruction ( 
su* vessel4  4  7#c7 ,! table ( sections
 = subp>t ,e ( "p ,,iv ( sub*apt] ,a (  

*apt] #a ( su* ,code is am5d$ by ins]t+ 
aft] ! item relat+ to section #dh;,e !  
foll[+ new item3  ,sec4 #dh;,f4 ,unit$  
,/ates ,vessel ,inve/m5t cr$it4  4  7c7 
,recapture = failure ,to op]ate z a     
vessel ( ! ,unit$ ,/ates  ,section      
#ej7;a7 ( ! ,int]nal ,rev5ue ,code (    
#aihf is am5d$--  7#a7 9 p>agraph 7#d71 
by /rik+ or any applicable transaction  
to :i* p>agraph 7#c77;,a7 applies &     
ins]t+ any applicable transaction to :i*
 p>agraph 7#c77;,a7 applies1 or any     
violation to :i* p>agraph 7#f77;,a7     
applies1  7#b7 by r$esignat+ p>agraph   
7#f7 z p>agraph 7#g71  7#c7 by ins]t+   
aft] p>agraph 7#e7 ! foll[+ new         
p>agraph3  7#f7  ,failure to op]ate     
qualifi$ vessel z a vessel ( ! ,unit$   
,/ates  7,a7  ,9 g5]al  ,if an          
applicable taxpay] violates any ( !     
requirem5ts ( ! agreem5t describ$ 9     
section #dh;,f7d77#a77;,f7 dur+ !       
duration ( su* agreem5t ) respect to any
 inve/m5t cr$it prop]ty :i* is eligible 
= ! ,unit$ ,/ates ,vessel ,inve/m5t     

cr$it "u section #dh;,f7a71 !n ! tax "u 
?is *apt] = ! taxable ye> 9 :i* su*     
violation occurs %all be increas$ by    
#ajj p]c5t ( ! aggregate decrease 9 !   
cr$its all[$ "u section #ch = all prior 
taxable ye>s :i* w\ld h result$ solely f
 r$uc+ to z]o any cr$it det]m9$ "u      
section #df :i* is attributable to !    
,unit$ ,/ates ,vessel ,inve/m5t cr$it "u
 section #dh;,f7a7 ) respect to su*     
prop]ty4  7,b7  ,exception  ,subp>agraph
 7,a7 %all n apply if ! applicable      
taxpay] demon/rates to ! satisfaction ( 
! ,secret>y & ! ,m>itime ,adm9i/rator t 
! taxpay] is 9 compliance ) ! agreem5t  
describ$ 9 section #dh;,f7d77#a77;,f7 )9
 #cj days ( a det]m9ation & notice by ! 
,secret>y4  7,c7  ,regulations &        
guidance  ,! ,secret>y %all issue su*   
regulations or o!r guidance z !         
,secret>y det]m9es necess>y or          
appropriate to c>ry out ! purposes ( ?is
 p>agraph1 includ+ regulations or o!r   
guidance :i* provide = requirem5ts =    
recordkeep+ or in=mation report+ =      

purposes ( adm9i/]+ ! requirem5ts ( ?is 
p>agraph4  1 &  7#d7 9 p>agraph 7#g7 7z 
r$esignat$ by p>agraph 7#b77--  7,a7 9  
subp>agraph 7,c71 by /rik+ or 7#c7 &    
ins]t+ 7#c71 or 7#d71 &  7,b7 by /rik+  
subp>agraph 7,e7 & ins]t+ ! foll[+3     
7,e7  ,applicable taxpay]  ,= purposes (
 ?is subsection1 ! t]m applicable       
taxpay] means any taxpay] :o has be5    
all[$--  7i7 = purposes ( p>agraph 7#c71
 a cr$it "u section #dh;,d7a7 = any     
prior taxable ye>1 or  7ii7 = purposes (
 p>agraph 7#f71 a cr$it "u section      
#dh;,f7a7 = any prior taxable ye>4  4   
7d7 ,elective paym5t & transf] ( cr$it  
7#a7 ,elective paym5t ,section #fdag ( !
 ,int]nal ,rev5ue ,code ( #aihf is      
am5d$-- 7,a7 9 subsection 7b71 by add+  
at ! end ! foll[+3  7#ac7 ,! ,unit$     
,/ates ,vessel ,inve/m5t cr$it "u       
section #dh;,f4  1 &  7,b7 9 subsection 
7d77#a7-- 7i7 9 subp>agraph 7,e71 by    
/rik+ 7,c71 or 7,d7 ea* place x appe>s &
 ins]t+ 7,c71 7,d71 or 7,e71  7ii7 by   
r$esignat+ subp>agraph 7,e7 7z am5d$ by 

clause 7i77 z subp>agraph 7,f71 &  7iii7
 by ins]t+ aft] subp>agraph 7,d7 !      
foll[+3  7,e7 ,election ) respect to    
,unit$ ,/ates vessel inve/m5t 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 made a       
qualifi$ inve/m5t ) respect to any      
qualifi$ vessel 7z def9$ 9 section      
#dh;,f71 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  7#b7 ,transf] ,section   
#fdah7;f77#a77;,a7 ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$ by add+ at ! end 
! foll[+3  7xii7 ,! ,unit$ ,/ates       
,vessel ,inve/m5t cr$it "u section      
#dh;,f4  4  7e7 ,exception relat+ to    
alt]native tax on qualify+ %ipp+        
activities ,section #aceg7;c7 ( !       
,int]nal ,rev5ue ,code ( #aihf is       
am5d$-- 7#a7 9 p>agraph 7#a71 by /rik+  
p>agraph 7#b7 & ins]t+ p>agraph 7#b7 or 

7#d71 &  7#b7 by add+ at ! end ! foll[+3
  7#d7 ,exception = ,unit$ ,/ates vessel
 inve/m5t cr$it ,p>agraph 7#a7 %all n   
apply ) respect to any cr$it all[$ to ! 
taxpay] "u section #dh;,f4  4  7f7      
,effective date ,! am5dm5ts made by ?is 
section %all apply to prop]ty plac$ 9   
s]vice aft] ,decemb] #ca1 #bjbe4  #c4   
,c]ta9 paym5ts = m>itime security       
exclud$ f gross income  7a7 ,9 g5]al ,"p
 ,,iii ( sub*apt] ,b ( *apt] #a ( !     
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by ins]t+ aft] section #aci;,i ! foll[+ 
new subsection3  #aci;,j4 ,m>itime      
security paym5ts  7a7 ,9 g5]al ,gross   
income %all n include any paym5t made   
pursuant to-- 7#a7 section #ecajf (     
title #df1 ,unit$ ,/ates ,code1  7#b7   
section #ecbjf ( su* title1  7#c7       
section #ecdjf ( su* title1  7#d7       
section #edaja ( su* title1 or  7#e7    
section #edcja ( su* title4  7b7 ,d5ial 
( d\ble b5efit ,no d$uction or cr$it    
%all be all[$ =1 or by reason (1 any    
exp5diture to ! ext5t ( ! am\nt exclud$ 

"u subsection 7a7 = any paym5t :i* 0    
provid$ ) respect to su* exp5diture4 ,! 
adju/$ basis ( any prop]ty %all be r$uc$
 by ! am\nt exclud$ "u subsection 7a7   
:i* 0 provid$ ) respect to su* prop]ty4 
4  7b7 ,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;,i ! 
foll[+ new item3  ,sec4 #aci;,j4        
,m>itime security paym5ts4  4  7c7      
,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s      
beg9n+ aft] ! date ( ! enactm5t ( ?is   
,act4  #d4 ,elim9ation ( #cj-;day       
limitation on dome/ic op]ations  7a7 ,9 
g5]al ,section #acee ( ! ,int]nal       
,rev5ue ,code ( #aihf is am5d$-- 7#a7 9 
subsection 7f71 by /rik+ p>agraph 7#d71 
&  7#b7 9 subsection 7g77#b71 by /rik+  
subp>agraph 7,d74  7b7 ,effective date  
,! am5dm5ts made by ?is section %all    
apply to taxable ye>s beg9n+ aft] ! date
 ( enactm5t ( ?is ,act4  #e4 ,qualify+  
%ipp+ activities ,section #acef7;b7 ( ! 

,int]nal ,rev5ue ,code ( #aihf 7relat+  
to qualify+ %ipp+ activities7 is am5d$  
by /rik+ activities 9 op]at+ & ins]t+ ! 
c>riage ( goods 7z def9$ 9 section #a ( 
! ,c>riage ( ,goods by ,sea ,act 7#df   
,u4,s4,c4 #cjgja note77 by4  #f4        
,qualify+ vessel ,section #acee7;a7 ( ! 
,int]nal ,rev5ue ,code ( #aihf is       
am5d$-- 7#a7 by /rik+ p>agraph 7#d7 &   
ins]t+ ! foll[+3  7#d7 ,qualify+ vessel 
,! t]m qualify+ vessel means a vessel   
:i* is-- 7,a7 self-propell$ 7or a       
comb9ation self-propell$ &              
non-self-propell$71  7,b7 a ,unit$      
,/ates flag vessel or a ,unit$          
,/ates-own$ =eign flag vessel1  7,c7    
ei!r-- 7i7 a vessel design$ prim>ily =  
use on ! high seas :i* has a draft ( m  
?an #ab feet1 or  7ii7 n less ?an #f1jjj
 deadweight tons1 &  7,d7 us$           
exclusively 9 ! ,unit$ ,/ates =eign     
trade dur+ ! p]iod t ! election "u ?is  
sub*apt] is 9 effect4  1 &  7#b7 by add+
 at ! end ! foll[+3  7#h7 ,unit$        
,/ates-own$ =eign flag vessel ,! t]m    

,unit$ ,/ates-own$ =eign flag vessel    
means any vessel :i*-- 7,a7 is docum5t$ 
"u ! laws ( a c\ntry 7o!r ?an ! ,unit$  
,/ates7 or a =eign regi/ry :i* is n a   
=eign c\ntry ( conc]n 7z def9$ 9 section
 #dh;,f7e771  7,b7 is own$ by a p]son   
:i*-- 7i7 7,i7 is a citiz5 ( ! ,unit$   
,/ates 7z det]m9$ "u section #ejeja (   
title #df1 ,unit$ ,/ates ,code71 or     
7,,ii7 is controll$ 7)9 ! mean+ (       
section #ied7;d77#c77 by a citiz5 ( !   
,unit$ ,/ates 7z s det]m9$71 &  7ii7    
owns a fleet ( ,unit$ ,/ates flag       
vessels1  7,c7 is /rategically &        
comm]cially manag$ f )9 ! ,unit$ ,/ates1
 &  7,d7 has ent]$ into an em]g5cy      
prep>$ness agreem5t "u section #ecajg or
 #ecdjg ( title #df1 ,unit$ ,/ates      
,code1 or a cont+5cy agreem5t "u section
 #ecbjg ( su* title1 or has o!rwise     
ent]$ into a volunt>y agreem5t & plan ( 
action ) ! ,m>itime ,adm9i/rator z      
au?oriz$ "u section #gjh7;c7 ( ! ,def5se
 ,production ,act ( #aiej 7#ej ,u4,s4,c4
 #deeh7;c774  4  #g4 ,cr$it =           

con/ruction ( %ipy>d facilities  7a7 ,9 
g5]al ,subp>t ,e ( "p ,,iv ( sub*apt] ,a
 ( *apt] #a ( ! ,int]nal ,rev5ue ,code (
 #aihf1 z am5d$ by section #b7;a71 is   
am5d$ by ins]t+ aft] section #dh;,f !   
foll[+ new section3  #dh;,g4 ,cr$it =   
con/ruction ( %ipy>d facilities  7a7 ,9 
g5]al ,= purposes ( section #df1 !      
%ipy>d inve/m5t tax cr$it = any taxable 
ye> is an am\nt equal to #be p]c5t ( !  
qualifi$ inve/m5t = su* taxable ye> )   
respect to any qualifi$ %ipy>d facility 
( a taxpay] describ$ 9 section          
#dh;,d7c77#a74  7b7 ,qualifi$ inve/m5t  
7#a7 ,9 g5]al ,= purposes ( subsection  
7a71 ! qualifi$ inve/m5t ) respect to   
any qualifi$ %ipy>d facility = any      
taxable ye> is ! basis ( any qualifi$   
prop]ty plac$ 9 s]vice by ! taxpay] dur+
 su* taxable ye> :i* is "p ( a qualifi$ 
%ipy>d facility4  7#b7 ,qualifi$ prop]ty
 ,! t]m qualifi$ prop]ty %all h ! same  
mean+ giv5 su* t]m 9 section            
#dh;,d7b77#b71 except t subp>agraph     
7,a77iv7 ( su* section %all be appli$ by

 sub/itut+ qualifi$ %ipy>d facility =   
advanc$ manufactur+ facility4  7#c7     
,qualifi$ %ipy>d facility ,= purposes ( 
?is section1 ! t]m qualifi$ %ipy>d      
facility means a facility-- 7,a7 :i* is 
locat$ )9 ! ,unit$ ,/ates 7includ+ any  
t]ritory or possession ( ! ,unit$       
,/ates71 &  7,b7 = :i* ! prim>y purpose 
is-- 7i7 con/ruct+ or repair+ comm]cial 
or milit>y oceango+ vessels1  7ii7      
manufactur+ compon5ts :i* are critical  
7z det]m9$ by ! ,secret>y1 9            
consultation ) ! ,secret>y ( ! ,navy & !
 ,m>itime ,adm9i/rator7 to ! op]ation ( 
comm]cial or milit>y oceango+ vessels1  
or  7iii7 manufactur+ equipm5t :i* is   
us$ to produce or repair comm]cial or   
milit>y oceango+ vessels4  7#d7 ,c]ta9  
progress exp5diture rules made          
applicable ,rules simil> to ! rules (   
subsections 7c77#d7 & 7d7 ( section #df 
7z 9 effect on ! day be=e ! date ( !    
enactm5t ( ! ,rev5ue ,reconciliation    
,act ( #aiij7 %all apply = purposes (   
subsection 7a74  7c7 ,d5ial ( d\ble     

b5efit ,?is section %all n apply to any 
prop]ty plac$ 9 s]vice by ! taxpay] dur+
 ! taxable ye> if a cr$it 0 all[$ "u    
section #dh;,f to su* taxpay] dur+ su*  
taxable ye>4  7d7 ,regulations ,!       
,secret>y %all issue su* regulations or 
o!r guidance z may be necess>y or       
appropriate to c>ry out ! purposes ( ?is
 section4  7e7 ,t]m9ation ( cr$it ,!    
cr$it all[$ "u ?is section %all n apply 
to prop]ty plac$ 9 s]vice aft] ,decemb] 
#ca1 #bjcb4  4  7b7 ,con=m+ am5dm5ts    
7#a7 ,section #df ( ! ,int]nal ,rev5ue  
,code ( #aihf1 z am5d$ by section       
#b7;b77#a71 is am5d$-- 7,a7 9 p>agraph  
7#g71 by /rik+ & at ! end1  7,b7 9      
p>agraph 7#h71 by /rik+ ! p]iod at ! end
 & ins]t+ 1 &1 &  7,c7 by add+ at ! end 
! foll[+3  7#i7 ! %ipy>d inve/m5t tax   
cr$it4  4  7#b7 ,section                
#di7;a77#a77;,c7 ( su* ,code1 z am5d$ by
 section #b7;b77#b71 is am5d$-- 7,a7 9  
clause 7viii71 by /rik+ & at ! end1     
7,b7 9 clause 7ix71 by /rik+ ! p]iod at 
! end & ins]t+ 1 &1 &  7,c7 by add+ at !

 end ! foll[+3  7x7 ! basis ( any       
qualifi$ prop]ty 7z def9$ 9 subsection  
7b77#b7 ( section #dh;,g7 :i* is "p ( a 
qualifi$ %ipy>d facility 7z def9$ 9     
subsection 7b77#c7 ( su* section74  4   
7#c7 ,section #ej7;a77#b77;,e7 ( su*    
,code1 z am5d$ by section #acgjb7;b7 (  
,public ,law #aag-afi1 is am5d$ by /rik+
 or #dh;,e7e7 & ins]t+ #dh;,e7e71 or    
#dh;,g7b77#d74  7#d7 ,! table ( sections
 = subp>t ,e ( "p ,,iv ( sub*apt] ,a (  
*apt] #a ( su* ,code1 z am5d$ by section
 #b7;b77#c71 is am5d$ by ins]t+ aft] !  
item relat+ to section #dh;,f ! foll[+  
new item3  ,sec4 #dh;,g4 ,%ipy>d        
inve/m5t tax cr$it4  4  7c7 ,elective   
paym5t & transf] ( cr$it  7#a7 ,elective
 paym5t ,section #fdag ( ! ,int]nal     
,rev5ue ,code ( #aihf1 z am5d$ by       
section #b1 is am5d$-- 7,a7 9 subsection
 7b71 by add+ at ! end ! foll[+3  7#ad7 
,! %ipy>d inve/m5t tax cr$it "u section 
#dh;,g4  1 &  7,b7 9 subsection         
7d77#a7-- 7i7 9 subp>agraph 7,f71 by    
/rik+ 7,d71 or 7,e7 ea* place x appe>s &

 ins]t+ 7,d71 7,e71 or 7,f71  7ii7 by   
r$esignat+ subp>agraph 7,f7 7z am5d$ by 
clause 7i77 z subp>agraph 7,g71 &  7iii7
 by ins]t+ aft] subp>agraph 7,e7 !      
foll[+3  7,f7 ,election ) respect to !  
%ipy>d inve/m5t tax 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   
any qualifi$ prop]ty :i* is "p ( a      
qualifi$ %ipy>d facility 7z def9$ 9     
section #dh;,g71 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#ad74  4  7#b7 ,transf]  
,section #fdah7;f77#a77;,a7 ( ! ,int]nal
 ,rev5ue ,code ( #aihf1 z am5d$ by      
section #b1 is am5d$ by add+ at ! end ! 
foll[+3  7xiii7 ,! %ipy>d inve/m5t tax  
cr$it "u section #dh;,g4  4  7d7        
,exception relat+ to alt]native tax on  
qualify+ %ipp+ activities ,p>agraph 7#d7
 ( section #aceg7;c7 ( ! ,int]nal       

,rev5ue ,code ( #aihf1 section #b7;e71  
is am5d$ to read z foll[s3  7#d7        
,exception = ,unit$ ,/ates vessel       
inve/m5t cr$it & %ipy>d inve/m5t tax    
cr$it ,p>agraph 7#a7 %all n apply )     
respect to any cr$it all[$ to ! taxpay] 
"u section #dh;,f or #dh;,g4  4  7e7    
,effective date ,! am5dm5ts made by ?is 
section %all apply to prop]ty plac$ 9   
s]vice aft] ,decemb] #ca1 #bjbe4  #h4   
,tax inc5tives relat+ to m]*ant m>9e    
capital con/ruction funds  7a7 ,9 g5]al 
,section #geah ( ! ,int]nal ,rev5ue     
,code ( #aihf is am5d$-- 7#a7 9         
subsection 7a7-- 7,a7 by /rik+ p>agraph 
7#a7 & ins]t+ ! foll[+3  7#a7 ,9 g5]al  
,! am\nt deposit$ 9 a fund e/abli%$ "u  
*apt] #ece ( title #df ( ! ,unit$ ,/ates
 ,code 7h]e9aft] 9 ?is section ref]r$ to
 z a capital con/ruction fund7 = a      
taxable ye> may n exce$ ! am\nt specifi$
 9 ! agreem5t "u section #ecejc7;a7 (   
su* title1 :i* %all be an am\nt t is    
relat$ to a commitm5t to inve/ ! rev5ue 
f ! capital con/ruction fund into fund+ 

! con/ruction ( new vessels or fund+    
c>go h&l+ equipm5t4  1  7,b7 9 p>agraph 
7#b71 by /rik+ p>agraph 7#a77;,b7 ea*   
place x appe>s & ins]t+ p>agraph 7#a71 &
  7,c7 by add+ at ! end ! foll[+ new    
p>agraph3  7#d7 ,rev5ue ,= ! purposes ( 
p>agraph 7#a71 ! rev5ue f ! capital     
con/ruction fund may include-- 7,a7     
income attributable to ! op]ation ( any 
agreem5t vessel 9 =eign comm]ce or      
dome/ic trade or fi%]ies or ! op]ation (
 a m>9e t]m9al 9 ! ,unit$ ,/ates1  7,b7 
! net proce$s f ! disposition ( an      
agreem5t vessel or c>go h&l+ equipm5t or
 insurance or indemnity attributable to 
! vessel or c>go h&l+ equipm5t1  7,c7 ! 
receipts f ! inve/m5t or re9ve/m5t (    
am\nts held 9 ! fund1 &  7,d7 ! am\nt   
all[able z a d$uction "u section #afg = 
! taxable ye> ) respect to ! agreem5t   
vessels or c>go h&l+ equipm5t4  1  7#b7 
9 subsection 7b77#b71 by /rik+ ,am\nts 9
 any capital con/ruction fund & all t   
foll[s ?r\gh 7n 9 excess ( #fj p]c5t7 & 
ins]t+ ,an agre$ p]c5tage1  7#c7 9      

subsection 7e7-- 7,a7 by /rik+ p>agraph 
7#a7 & ins]t+ ! foll[+3  7#a7 ,9 g5]al  
,a qualifi$ )drawal f ! fund is "o made 
9 accordance ) ! t]ms ( ! agreem5t b    
only if x is =-- 7,a7 ! acquisition1    
con/ruction1 rep[]+1 or recon/ruction   
(-- 7i7 a qualifi$ vessel or a b>ge or  
conta9] t is "p ( ! complem5t ( a       
qualifi$ vessel1 or  7ii7 c>go h&l+     
equipm5t1 or  7,b7 ! paym5t ( ! pr9cipal
 on indebt$ness incurr$ 9 ! acquisition1
 con/ruction1 rep[]+1 or recon/ruction  
(-- 7i7 a qualifi$ vessel or a b>ge or  
conta9] t is "p ( ! complem5t ( a       
qualifi$ vessel1 or  7ii7 c>go h&l+     
equipm5t4  ,except to ! ext5t provid$ 9 
regulations prescrib$ by ! ,secret>y1   
subp>agraph 7,a71 & s mu* ( subp>agraph 
7,b7 z relates only to b>ges & conta9]s1
 %all apply only ) respect to b>ges &   
conta9]s con/ruct$ 9 ! ,unit$ ,/ates4  1
  7,b7 by r$esignat+ p>agraph 7#b7 z    
p>agraph 7#d71 &  7,c7 by ins]t+ aft]   
p>agraph 7#a7 ! foll[+3  7#b7 ,fully    
automat$ c>go h&l+ equipm5t ,no )drawals

 may be made f a capital con/ruction    
fund to pur*ase fully automat$ c>go h&l+
 equipm5t t is remotely op]at$ or       
remotely monitor$ ) or )\t ! ex]cise (  
human int]v5tion or control1 if !       
,secret>y det]m9es su* equipm5t w\ld    
result 9 a net loss ( jobs )9 a m>9e    
t]m9al4  7#c7 ,prohibition on p's       
republic ( *9a cranes ,no )drawals may  
be made f a capital con/ruction fund to 
pur*ase cranes manufactur$ 9 ! ,p's     
,republic ( ,*9a4  1  7#d7 9 subsection 
7f7-- 7,a7 9 p>agraph 7#b71 by ins]t+   
c>go h&l+ equipm5t1 aft] b>ge1 bo?      
places ! t]m appe>s1  7,b7 9 p>agraph   
7#c71 by ins]t+ c>go h&l+ equipm5t1 aft]
 b>ge1 bo? places ! t]m appe>s1 &  7,c7 
9 p>agraph 7#d71 by ins]t+ c>go h&l+    
equipm5t1 aft] b>ges11  7#e7 9          
subsection 7g7-- 7,a7 9 ! flu% matt] at 
! end ( p>agraph 7#b71 by ins]t+ c>go   
h&l+ equipm5t1 aft] advanc$1 &  7,b7 9  
p>agraph 7#e77;,a7-- 7i7 9 ! head+1 by  
/rik+ #be ye>s & ins]t+ #ae ye>s1  7ii7 
by /rik+ #bf?1 #bg?1 #bh?1 #bi?1 or #cj?

 taxable ye> & ins]t+ foll[+ specifi$   
taxable ye>1 &  7iii7 by /rik+ ! table  
conta9$ !re9 & ins]t+ ! foll[+3 ,if !   
am\nt rema9s 9 ! fund at ! close ( !-,! 
applicable p]c5tage is-#af? taxable     
ye>#bj p]c5t#ag? taxable ye>#dj         
p]c5t#ah? taxable ye>#fj p]c5t#ai?      
taxable ye>#hj p]c5t#bj? taxable ye>#ajj
 p]c5t 1 &  7#f7 9 subsection 7i71 by   
/rik+ z 9 effect on ! date ( ! enactm5t 
( ?is section4  7b7 ,effective date ,!  
am5dm5ts made by ?is section %all apply 
to taxable ye>s beg9n+ aft] ,decemb]    
#ca1 #bjbe4  #i4 ,exemption ( /ud5t     
inc5tive paym5t agreem5ts f gross income
  7a7 ,9 g5]al ,"p ,,iii ( sub*apt] ,b (
 *apt] #a ( ! ,int]nal ,rev5ue ,code (  
#aihf1 z am5d$ by section #c1 is fur!r  
am5d$ by ins]t+ aft] section #aci;,j !  
foll[+ new section3  #aci,k4 ,/ud5t     
inc5tive paym5t agreem5ts ,9 ! case ( an
 individual :o has ent]$ into an        
agreem5t describ$ 9 section #eaeji (    
title #df1 ,unit$ ,/ates ,code1 gross   
income does n include any /ud5t inc5tive

 paym5ts made to su* individual pursuant
 to su* agreem5t4  4  7b7 ,cl]ical      
am5dm5t ,! table ( sections = "p ,,iii (
 sub*apt] ,b ( *apt] #a ( ! ,int]nal    
,rev5ue ,code ( #aihf1 z am5d$ by       
section #c1 is fur!r am5d$ by ins]t+    
aft] ! item relat+ to section #aci;,j ! 
foll[+ new item3  ,sec4 #aci,k4 ,/ud5t  
inc5tive paym5t agreem5ts4  4  7c7      
,effective date ,! am5dm5ts made by ?is 
section %all apply ) respect to paym5ts 
made aft] ,decemb] #ca1 #bjbe4  #aj4    
,m>itime fuel tax p>ity  7a7 ,9 g5]al   
,section #djda7;g7 ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$ by add+ at ! end 
! foll[+ new s5t5ce3 ,= purposes (      
subsection 7a77#b71 ! exemption "u      
p>agraph 7#a7 %all also apply to fuel   
sold = use or us$ by a vessel :i* is bo?
 describ$ 9 section #djdb7;c77#a7 &     
actually engag$ 9 trade betwe5 !        
,atlantic or ,pacific ports ( ! ,unit$  
,/ates 7includ+ any t]ritory or         
possession ( ! ,unit$ ,/ates744  7b7    
,effective date ,! am5dm5t made by ?is  

section %all apply to fuel sold = use or
 us$ aft] ,decemb] #ca1 #bjbe4  #aa4    
,treatm5t ( m>itime prosp]ity zones z   
opportunity zones  7a7 ,9 g5]al         
,sub*apt] ,z ( *apt] #a ( ! ,int]nal    
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new section3          
#adjj,z-#c4 ,treatm5t ( m>itime         
prosp]ity zones z opportunity zones  7a7
 ,9 g5]al ,a m>itime prosp]ity zone %all
 be treat$ z a qualifi$ opportunity     
zone4  7b7 ,special rules ,9 apply+ ?is 
sub*apt] to any m>itime prosp]ity zone  
:i* is a qualifi$ opportunity zone      
solely by reason ( ?is section-- 7#a7 ,9
 g5]al ,= purposes ( det]m9+-- 7,a7 :e!r
 any prop]ty :i* w\ld n be qualifi$     
opportunity fund bus9ess prop]ty )\t    
reg>d to ?is section is qualifi$        
opportunity fund bus9ess prop]ty1 &     
7,b7 :e!r any corporation or p>tn]%ip   
:i* is n a qualifi$ opportunity fund    
bus9ess )\t reg>d to ?is section is a   
qualifi$ opportunity fund bus9ess1      
section #adjj,z-#b7;d7 %all be appli$ ) 

! modifications describ$ 9 p>agraph     
7#b74  7#b7 ,modifications ,!           
modifications describ$ 9 ?is p>agraph   
are z foll[s3 7,a7 ,/>t date            
,subp>agraphs 7,b77i77,i71 7,c77i71 &   
7,d77i77,i7 ( section #adjj,z-#b7;d77#b7
 %all ea* be appli$ by sub/itut+ ! date 
( ! enactm5t ( ! ,build+ ,%ips 9 ,am]ica
 ,act ( #bjbe = ,decemb] #ca1 #bjag4    
7,b7 ,qualifi$ bus9ess prop]ty ,prop]ty 
%all n be treat$ z qualifi$ opportunity 
zone bus9ess prop]ty unless su* prop]ty 
is sub/antially us$ 9 an indu/ry :i* is 
assign$ a code "u ! ,nor? ,am]ican      
,indu/rial ,classification ,sy/em :i* is
 describ$ 9 p>agraph 7#c74  7,c7        
,qualifi$ bus9ess ,a trade or bus9ess   
%all n be treat$ z a qualifi$           
opportunity zone bus9ess unless su*     
trade or bus9ess op]ates 9 an indu/ry   
:i* is assign$ a code "u ! ,nor?        
,am]ican ,indu/rial ,classification     
,sy/em :i* is describ$ 9 p>agraph 7#c74 
7#c7 ,eligible nor? ,am]ican indu/rial  
classification sy/em codes ,! foll[+    

codes "u ! ,nor? ,am]ican ,indu/rial    
,classification ,sy/em are ! codes      
describ$ 9 ?is p>agraph3 7,a7 #dhcaa    
7deep sea freight transportation74  7,b7
 #dhcaac 7coa/al & ,great ,lakes freight
 transportation74  7,c7 #dhcbaa 7inl&   
wat] freight transportation74  7,d7     
#dhhc 7support activities = wat]        
transportation74  7,e7 #ccff 7%ip & boat
 build+74  7c7 ,m>itime prosp]ity zone  
,= purposes ( ?is *apt]-- 7#a7 ,9 g5]al 
,! t]m m>itime prosp]ity zone means any 
population c5sus tract t-- 7,a7 conta9s 
or is det]m9$ by ! ,m>itime ,adm9i/rator
 to be a viable site =-- 7i7 a %ipy>d ( 
! ,unit$ ,/ates1  7ii7 a port1 or  7iii7
 a h>bor facility1 &  7,b7 is designat$ 
z a m>itime prosp]ity zone "u p>agraph  
7#b74  7#b7 ,designation ,a population  
c5sus tract is designat$ z a m>itime    
prosp]ity zone "u ?is p>agraph if-- 7,a7
 ! ,m>itime ,adm9i/rator1 9 consultation
 ) ! ,secret>y ( ! ,navy1 nom9ates !    
tract = designation z a m>itime         
prosp]ity zone & notifies ! ,secret>y 9 

writ+ ( su* nom9ation1 &  7,b7 !        
,secret>y c]tifies su* nom9ation &      
designates su* tract z a qualifi$       
m>itime prosp]ity zone4  7#c7 ,numb] (  
population c5sus tracts designat$ ,n m  
?an #ajj population c5sus tracts may be 
designat$ z m>itime prosp]ity zone4     
7#d7 ,p]iod = :i* designation is 9      
effect ,except z provid$ 9 p>agraph     
7#b71 a designation z a m>itime         
prosp]ity zone %all rema9 9 effect = !  
p]iod-- 7,a7 beg9n+ on ! date ( !       
designation1 &  7,b7 end+ at ! close ( !
 #e? cal5d> ye> beg9n+ on or aft] su*   
date ( designation4  4  7b7 ,cl]ical    
am5dm5t ,! table ( sections = sub*apt]  
,z ( *apt] #a ( su* ,code is am5d$ by   
add+ at ! end ! foll[+ new item3  ,sec4 
#adjj,z-#c4 ,treatm5t ( m>itime         
prosp]ity zones z opportunity zones4  4 
7c7 ,effective date ,! am5dm5ts made by 
?is section %all take effect on ! date (
 ! enactm5t ( ?is ,act4