EXTENSION OF INCREASED EXPENSING FOR QUALIFIED SECTION 179 GULF OPPORTUNITY ZONE PROPERTY.

SEC. 8221. EXTENSION OF INCREASED EXPENSING FOR QUALIFIED SECTION 179 GULF OPPORTUNITY ZONE PROPERTY. Paragraph (2) of section 1400N(e) (relating to qualified section 179 Gulf Opportunity Zone property) is amended—(1) by striking “this subsection, the term” and inserting:“this subsection—“(A) In general.—The term”, and(2) by adding at the end the following new subparagraph:“(B) Extension for certain property.—In the case of property substantially all of the use of which is in one or more specified portions of the GO Zone (as defined by subsection (d)(6)), such term shall include section 179 property (as so defined) which is described in subsection (d)(2), determined—“(i) without regard to subsection (d)(6), and“(ii) by substituting ‘2008’ for ‘2007’ in subparagraph (A)(v) thereof.”.