entity that would be treated as a single employer with such an entity under the rules of subsection (a) or (b) of section 52 or subsection (m) or (o) of section 414. . (b) Clerical amendment The table of subchapters for chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to subchapter U the following new item: SUBCHAPTER U–1—Community economic assistance zones . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2016. 3. 15-year depreciation for certain rebuilt and retrofitted community economic assistance zone property (a) In general Subparagraph (E) of section 168(e)(3) of the Internal Revenue Code of 1986 is amended— (1) by striking and at the end of clause (viii), (2) by striking the period at the end of clause (ix) and inserting , and , and (3) by adding at the end the following new clause: (x) any qualified rebuilt or retrofitted community economic assistance zone property. . (b) Qualified rebuilt or retrofitted community economic assistance zone property Subsection (e) of section 168 of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (9) Qualified rebuilt or retrofitted community economic assistance zone property (A) In general The term qualified rebuilt or retrofitted community economic assistance zone property means property placed in service in a community economic assistance zone by a qualified taxpayer during the period the designation of such zone is in effect under section 1397G which relates to the rebuilding or retrofitting of— (i) any qualified community economic assistance zone property (as defined in section 1397H(f)), and (ii) any residential real property located in a community economic assistance zone which is acquired by the taxpayer by purchase (as defined in section 179(d)(2)) during such period, if such property was unoccupied and had been deemed condemned, neglected, or derelict as of the time of acquisition by the taxpayer. (B)