Accelerate Our Manufacturers Act

“(6) Special rule for manufacturing property

“(A) In general—In the case of qualified manufacturing property, paragraph (1)(A) shall be applied by substituting “100 percent” for “50 percent”.

“(B) Qualified manufacturing property—For purposes of this paragraph—

“(i) In general—The term qualified manufacturing property means qualified property which—

“(I) is acquired by the taxpayer after December 31, 2013, and before January 1, 2019, placed in service by the taxpayer before January 1, 2019, and

“(II) used by a manufacturer to produce an article from new or raw material, or from scrap, salvage, or junk material, by processing or changing the form of an article or by combining or assembling two or more articles.

“(ii) Certain rules made inapplicable—The following provisions shall not apply:

“(I) Clauses (iii) and (iv) of paragraph (2)(A).

“(II) Clause (ii) of paragraph (2)(B).”

“(K) Special rules for qualified manufacturing property

“(i) In general—In the case of qualified manufacturing property (as defined in paragraph (6)), in applying this paragraph to any taxpayer—

“(I) the limitation described in subparagraph (B)(i) and the business credit increase amount under subparagraph (E)(iii) thereof shall not apply, and

“(II) the bonus depreciation amount, maximum amount, and maximum increase amount shall be computed separately.

“(ii) Election

“(I) A taxpayer who has an election in effect under any preceding provision of this paragraph shall not be treated as having an election in effect for qualified manufacturing property unless the taxpayer elects to have this paragraph apply to qualified manufacturing property.

“(II) A taxpayer who does not have an election in effect under any preceding provision of this paragraph may elect to have this paragraph apply to qualified manufacturing property.”