Allows a special depreciation allowance for qualified early childhood education centers.
This bill amends the Internal Revenue Code to allow a special depreciation allowance for qualified early childhood education centers. It defines a qualified early childhood education center as a portion of nonresidential real property used for early childhood education, placed in service before December 31, 2031, and designated by the taxpayer. The bill includes rules for the treatment of such centers as section 1245 property and allows the Secretary to extend the placed-in-service date under certain circumstances.
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