ALIGN Act

Paragraph (6) of section 168(k) of the Internal Revenue Code of 1986 is amended to read as follows:

For purposes of this subsection, the term applicable percentage means, in the case of property placed in service (or, in the case of a specified plant described in paragraph (5), a plant which is planted or grafted) after September 27, 2017, 100 percent.

(1) Section 168(k) of the Internal Revenue Code of 1986 is amended—

(A) in paragraph (2)—

(i) in subparagraph (A)—

(I) in clause (i)(V), by inserting and at the end,

(II) in clause (ii), by striking clause (ii) of subparagraph (E), and and inserting clause (i) of subparagraph (E)., and

(III) by striking clause (iii),

(ii) in subparagraph (B)—

(I) in clause (i)—

(aa) by striking subclauses (II) and (III), and

(bb) by redesignating subclauses (IV) through (VI) as subclauses (II) through (IV), respectively,

(II) by striking clause (ii), and

(III) by redesignating clauses (iii) and (iv) as clauses (ii) and (iii), respectively,

(iii) in subparagraph (C)—

(I) in clause (i), by striking and subclauses (II) and (III) of subparagraph (B)(i), and

(II) in clause (ii), by striking subparagraph (B)(iii) and inserting subparagraph (B)(ii), and

(iv) in subparagraph (E)—

(I) by striking clause (i), and

(II) by redesignating clauses (ii) and (iii) as clauses (i) and (ii), respectively, and

(B) in paragraph (5)(A), by striking planted before January 1, 2027, or is grafted before such date to a plant that has already been planted, and inserting planted or grafted.

(2) Section 460(c)(6)(B) of such Code is amended by striking which and all that follows through the period and inserting which has a recovery period of 7 years or less..

The amendments made by this section shall take effect as if included in section 13201 of Public Law 115–97.