Sec. 401. Special allowance for certain property
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/bill/116/hr/6431/ih/section-401·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For purposes of section 168(k) of the Internal Revenue Code of 1986, in the case of any qualified pharmaceutical and medical device manufacturing property which is placed in service after December 31, 2019, and before January 1, 2026— such property shall be treated as qualified property (within the meaning of such section), the applicable percentage otherwise determined under section 168(k) of such Code with respect to such property shall be 100 percent, and paragraph
(8)of such section shall not apply. For purposes of this section, the term qualified pharmaceutical and medical device manufacturing property means any tangible property placed in service in the United States as part of the construction or expansion of property for the manufacture of drugs (as defined in section 201(g) of the Federal Food, Drug, and Cosmetic Act ( 21 U.S.C. 321(g) )) or medical devices (as defined in section 201(h) of such Act ( 21 U.S.C. 321(h) ), including personal protective equipment and any other item determined by the National Commission on United States Preparedness for National Emergencies to be necessary.
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Sec. 401
Special allowance for certain property
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