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139 STAT. 201 PUBLIC LAW 119–21—JULY 4, 2025 ‘‘(B) providing for the application of paragraph (5) with respect to a change in use described in such paragraph by a transferee following a fully or partially tax free transfer of qualified production property.’’. (b) TREATMENT OF QUALIFIED PRODUCTION PROPERTY AS SEC- TION 1245 PROPERTY.—Section 1245(a)(3) is amended by striking ‘‘or’’ at the end of subparagraph (E), by striking the period at the end of subparagraph (F) and inserting ‘‘, or’’, and by adding at the end the following new subparagraph: ‘‘(G) any qualified production property (as defined in section 168(n)(2)).’’. (c) EFFECTIVE DATE.—The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act. SEC. 70308. ENHANCEMENT OF ADVANCED MANUFACTURING INVEST- MENT CREDIT. (a) IN GENERAL.—Section 48D(a) is amended by striking ‘‘25 percent’’ and inserting ‘‘35 percent’’. (b) EFFECTIVE DATE.—The amendments made by this section shall apply to property placed in service after December 31, 2025. SEC. 70309. SPACEPORTS ARE TREATED LIKE AIRPORTS UNDER EXEMPT FACILITY BOND RULES. (a) IN GENERAL.—Section 142(a)(1) is amended to read as fol- lows: ‘‘(1) airports and spaceports,’’. (b) TREATMENT OF GROUND LEASES.—Section 142(b)(1) is amended by adding at the end the following new subparagraph: ‘‘(C) SPECIAL RULE FOR SPACEPORT GROUND LEASES.— For purposes of subparagraph (A), spaceport property located on land leased by a governmental unit from the United States shall not fail to be treated as owned by a governmental unit if the requirements of this paragraph are met by the lease and any subleases of the property.’’. (c) DEFINITION OF SPACEPORT.—Section 142 is amended by adding at the end the following new subsection: ‘‘(p) SPACEPORT.— ‘‘(1) IN GENERAL.—For purposes of subsection (a)(1), the term ‘spaceport’ means any facility located at or in close prox- imity to a launch site or reentry site used for— ‘‘(A) manufacturing, assembling, or repairing space- craft, space cargo, other facilities described in this para- graph, or any component of the foregoing, ‘‘(B) flight control operations, ‘‘(C) providing launch services and reentry services, or ‘‘(D) transferring crew, spaceflight participants, or space cargo to or from spacecraft. ‘‘(2) ADDITIONAL TERMS.—For purposes of paragraph (1)— ‘‘(A) SPACE CARGO.—The term ‘space cargo’ includes satellites, scientific experiments, other property trans- ported into space, and any other type of payload, whether or not such property returns from space. ‘‘(B) SPACECRAFT.—The term ‘spacecraft’ means a launch vehicle or a reentry vehicle. ‘‘(C) OTHER TERMS.—The terms ‘launch site’, ‘crew’, ‘space flight participant’, ‘launch services’, ‘launch vehicle’, 26 USC 48D note. 26 USC 168 note. Applicability.