the Secretary may require to allow the Secretary to evaluate the effectiveness of the program established under this part. 1400V–3. Expensing of Promise Zone property (a) In general A taxpayer may elect to treat the cost of any Promise Zone property as an expense which is not chargeable to capital account. Any cost so treated shall be allowed as a deduction for the taxable year in which the Promise Zone property is placed in service. (b) Promise Zone property For purposes of this section— (1) In general Except as otherwise provided in this subsection, the term Promise Zone property means property— (A) which is— (i) tangible property (to which section 168 applies) with an applicable recovery period (within the meaning of section 168) of 20 years or less, (ii) water utility property described in section 168(e)(5), (iii) computer software described in section 179(d)(1)(A)(ii), or (iv) qualified leasehold improvement property (as defined in section 168(e)), (B) which is acquired by purchase (as defined in section 179(d)(2)) for use in the active conduct of a trade or business, and (C) which is originally placed in service by the taxpayer in a Promise Zone. (2) Exception for certain property Such term shall not include any property to which section 168(g) applies. (c) Election An election under this section shall be made under rules similar to the rules of section 179(c). (d) Coordination with section 179 For purposes of section 179, Promise Zone property shall not be treated as section 179 property. (e) Application of other rules Rules similar to the rules of paragraphs (3), (4), (5), (7), (9) and (10) of section 179(d) shall apply for purposes of this section. (f) Taxpayer reporting This section shall not apply with respect to any taxpayer for any taxable year unless such taxpayer provides the Secretary with such information as the Secretary may require to allow the Secretary to evaluate the effectiveness of the program established under this part. . (b) Conforming amendments (1) Section 38(b) of such Code is