This bill introduces significant tax incentives aimed at encouraging companies to relocate their manufacturing operations from foreign countries to the United States. It amends the Internal Revenue Code to provide accelerated depreciation for qualified nonresidential real property that is placed in service in the U.S. by manufacturers undertaking such a relocation. This property, which must be used in manufacturing tangible personal property, will be treated as 20-year property and eligible for bonus depreciation. The relocation must involve a substantially identical product and an equivalent productive capacity shift to the U.S. Furthermore, the legislation allows for the exclusion of gain from gross income for qualified manufacturers when they sell or exchange property previously used in manufacturing in the foreign country from which operations are being moved. These provisions are designed to reduce the financial burden and increase the attractiveness of bringing production back to American soil. Beyond relocation incentives, the bill also makes permanent the 100 percent bonus depreciation for qualified property, effectively allowing businesses to fully expense the cost of eligible assets immediately. This permanent full expensing applies retroactively to property placed in service after September 27, 2017, providing long-term certainty for capital investments.