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139 STAT. 199 PUBLIC LAW 119–21—JULY 4, 2025 person at any time during the period beginning on January 1, 2021, and ending on May 12, 2025, ‘‘(II) such property was not used by the tax- payer at any time prior to such acquisition, and ‘‘(III) the acquisition of such property meets the requirements of paragraphs (2)(A), (2)(B), (2)(C), and (3) of section 179(d). ‘‘(ii) WRITTEN BINDING CONTRACTS.—For purposes of determining under clause (i)— ‘‘(I) whether such property is acquired before the period described in subparagraph (A)(v), such property shall be treated as acquired not later than the date on which the taxpayer enters into a written binding contract for such acquisition, and ‘‘(II) whether such property is acquired after such period, such property shall be treated as acquired not earlier than such date. ‘‘(C) EXCLUSION OF OFFICE SPACE, ETC.—The term ‘qualified production property’ shall not include that portion of any nonresidential real property which is used for offices, administrative services, lodging, parking, sales activities, research activities, software development or engineering activities, or other functions unrelated to the manufac- turing, production, or refining of tangible personal property. ‘‘(D) QUALIFIED PRODUCTION ACTIVITY.—The term ‘qualified production activity’ means the manufacturing, production, or refining of a qualified product. The activities of any taxpayer do not constitute manufacturing, produc- tion, or refining of a qualified product unless the activities of such taxpayer result in a substantial transformation of the property comprising the product. ‘‘(E) PRODUCTION.—The term ‘production’ shall not include activities other than agricultural production and chemical production. ‘‘(F) QUALIFIED PRODUCT.—The term ‘qualified product’ means any tangible personal property if such property is not a food or beverage prepared in the same building as a retail establishment in which such property is sold. ‘‘(G) SYNDICATION.—For purposes of subparagraph (A)(iv), rules similar to the rules of subsection (k)(2)(E)(iii) shall apply. ‘‘(H) EXTENSION OF PLACED IN SERVICE DATE UNDER CERTAIN CIRCUMSTANCES.—The Secretary may extend the date under subparagraph (A)(vii) with respect to any prop- erty that meets the requirements of clauses (i) through (vi) of subparagraph (A) if the Secretary determines that an act of God (as defined in section 101(1) of the Com- prehensive Environmental Response, Compensation, and Liability Act of 1980) prevents the taxpayer from placing such property in service before such date. ‘‘(3) DEDUCTION ALLOWED IN COMPUTING MINIMUM TAX.— For purposes of determining alternative minimum taxable income under section 55, the deduction under section 167 for qualified production property shall be determined under this section without regard to any adjustment under section 56. ‘‘(4) COORDINATION WITH CERTAIN OTHER PROVISIONS.— Determination. Determination. Applicability. Definition. Definition.