123STA T . 3 4 4 PUBLIC LA W 111 –5—FE B.1 7, 2 0 0 9‘ ‘ (A)INGE NE RAL.—Par a g ra ph ( 1 ) s ha l l not appl yi n th ec ase o f any o w nership change if , i m me d iately after s u ch ownership change, any person (other than a v oluntary employees ’b eneficiary association under section 50 1(c)( 9 )) owns stoc k of the new loss corporation possessing 50 per - cent or more of the total combined voting power of all classes of stock entitled to vote, or of the total value of the stock of such corporation. ‘‘( B ) T REA TM ENT OF RELATE DP ER S ONS.— ‘‘(i) IN GENERAL.— R elated persons shall be treated as a single person for purposes of this paragraph. ‘‘(ii) RELATED PERSONS.— F or purposes of clause (i), a person shall be treated as related to another person if— ‘‘(I) such person bears a relationship to such other person described in section 267 (b) or 707(b), or ‘‘(II) such persons are members of a group of persons acting in concert.’’. (b) E FFE C T IV E D ATE.—The amendment made by this section shall apply to ownership changes after the date of the enactment of this Act. Subti t leD—Man u f a c tu r in gR ec ov er yP rovi s ions SEC.130 1. T E MPORA R Y E X PA N S I ONO F A V AI L A B ILITY OF IN DU STRIAL DEVELOPMENT BONDS TO FACILITIES MANUFACTURIN G INTANGIBLE PROPERTY. (a) IN G ENERAL.— S ubparagraph ( C ) of section 1 4 4(a)(12) is amended— (1) by striking ‘‘For purposes of this paragraph, the term’’ and inserting ‘‘For purposes of this paragraph— ‘‘(i) IN GENERAL.—The term’’, and (2) by striking the last sentence and inserting the following new clauses
‘‘(ii) CERTAIN FACILITIES INCL U DED.—Such term includes facilities which are directly related and ancillary to a manufacturing facility (determined with- out regard to this clause) if— ‘‘(I) such facilities are located on the same site as the manufacturing facility, and ‘‘(II) not more than 25 percent of the net pro- ceeds of the issue are used to provide such facili- ties. ‘‘(iii) SPECIAL RULES FOR B ONDS ISSUED IN 20 0 9 AND 20 1 0.—In the case of any issue made after the date of enactment of this clause and before J anuary 1, 2011, clause (ii) shall not apply and the net proceeds from a bond shall be considered to be used to provide a manufacturing facility if such proceeds are used to provide— ‘‘(I) a facility which is used in the creation or production of intangible property which is described in section 197(d)(1)(C)(iii), or 26USC14 4 . 26 USC 38 2 note .
