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139 STAT. 76 PUBLIC LAW 119–21—JULY 4, 2025 Sec. 70352. Repeal of election for 1-month deferral in determination of taxable year of specified foreign corporations. Sec. 70353. Restoration of limitation on downward attribution of stock ownership in applying constructive ownership rules. Sec. 70354. Modifications to pro rata share rules. CHAPTER 4—INVESTING IN AMERICAN FAMILIES, COMMUNITIES, AND SMALL BUSINESSES SUBCHAPTER A—PERMANENT INVESTMENTS IN FAMILIES AND CHILDREN Sec. 70401. Enhancement of employer-provided child care credit. Sec. 70402. Enhancement of adoption credit. Sec. 70403. Recognizing Indian tribal governments for purposes of determining whether a child has special needs for purposes of the adoption credit. Sec. 70404. Enhancement of the dependent care assistance program. Sec. 70405. Enhancement of child and dependent care tax credit. SUBCHAPTER B—PERMANENT INVESTMENTS IN STUDENTS AND REFORMS TO TAX- EXEMPT INSTITUTIONS Sec. 70411. Tax credit for contributions of individuals to scholarship granting orga- nizations. Sec. 70412. Exclusion for employer payments of student loans. Sec. 70413. Additional expenses treated as qualified higher education expenses for purposes of 529 accounts. Sec. 70414. Certain postsecondary credentialing expenses treated as qualified high- er education expenses for purposes of 529 accounts. Sec. 70415. Modification of excise tax on investment income of certain private col- leges and universities. Sec. 70416. Expanding application of tax on excess compensation within tax-exempt organizations. SUBCHAPTER C—PERMANENT INVESTMENTS IN COMMUNITY DEVELOPMENT Sec. 70421. Permanent renewal and enhancement of opportunity zones. Sec. 70422. Permanent enhancement of low-income housing tax credit. Sec. 70423. Permanent extension of new markets tax credit. Sec. 70424. Permanent and expanded reinstatement of partial deduction for chari- table contributions of individuals who do not elect to itemize. Sec. 70425. 0.5 percent floor on deduction of contributions made by individuals. Sec. 70426. 1-percent floor on deduction of charitable contributions made by cor- porations. Sec. 70427. Permanent increase in limitation on cover over of tax on distilled spir- its. Sec. 70428. Nonprofit community development activities in remote native villages. Sec. 70429. Adjustment of charitable deduction for certain expenses incurred in support of Native Alaskan subsistence whaling. Sec. 70430. Exception to percentage of completion method of accounting for certain residential construction contracts. SUBCHAPTER D—PERMANENT INVESTMENTS IN SMALL BUSINESS AND RURAL AMERICA Sec. 70431. Expansion of qualified small business stock gain exclusion. Sec. 70432. Repeal of revision to de minimis rules for third party network trans- actions. Sec. 70433. Increase in threshold for requiring information reporting with respect to certain payees. Sec. 70434. Treatment of certain qualified sound recording productions. Sec. 70435. Exclusion of interest on loans secured by rural or agricultural real property. Sec. 70436. Reduction of transfer and manufacturing taxes for certain devices. Sec. 70437. Treatment of capital gains from the sale of certain farmland property. Sec. 70438. Extension of rules for treatment of certain disaster-related personal casualty losses. Sec. 70439. Restoration of taxable REIT subsidiary asset test. CHAPTER 5—ENDING GREEN NEW DEAL SPENDING, PROMOTING AMERICA-FIRST ENERGY, AND OTHER REFORMS SUBCHAPTER A—TERMINATION OF GREEN NEW DEAL SUBSIDIES Sec. 70501. Termination of previously-owned clean vehicle credit. Sec. 70502. Termination of clean vehicle credit. Sec. 70503. Termination of qualified commercial clean vehicles credit.