Special allowance for qualified production property made permanent for gasoline and diesel production

(a) In general Section 168(n)(2)of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph: (I) Special allowance made permanent for new refinery construction In the case of property integral to the new construction of a qualified facility described in section 48F(d)(1) (determined without regard to subparagraph (C) of such section)— (i) subparagraph (A) shall be applied— (I) in clause (v), without regard to before January 1, 2029, and (II) without regard to clause (vii), and (ii) this paragraph shall be applied without regard to subparagraph (H).. (b) Effective date The amendments made by this section shall apply to property the construction of which begins after the date of the enactment of this Act.