; and (C) by adding at the end the following new paragraph: (7) the qualifying production facility credit. . (2) Amount of credit Subpart E of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 48D the following new section: 48E. Credit for qualifying production facilities (a) In general For purposes of section 46, in the case of an eligible employer, the qualifying production facility credit for any taxable year is an amount equal to 25 percent of the basis of eligible property placed in service during the taxable year. (b) Eligible employer For purposes of this section— (1) In general The term eligible employer means any employer— (A) which has no more than 50 full-time equivalent employees (within the meaning of section 45R(d)(2)) for the taxable year, and (B) which has not (prior to placing in service the production facility designated for purposes of this section) placed in service a dedicated facility for the production of goods for sale. (2) Safe harbor (A) In general An employer shall not be treated as having previously placed in service a facility described in paragraph (1)(B) if— (i) a credit under this section has not previously been allowed to the employer, and (ii) the cost of applicable property placed into service by the employer for each taxable year during the 5-taxable-year period ending immediately before the taxable year did not exceed $7,500. (B) Applicable property For purposes of subparagraph (A), the term applicable property means personal property which would have qualified as eligible property under subsection (c)(1)(B) if such property were placed in service by an eligible employer at a qualified production facility after enactment of this Act for the production of a qualifying product. (3) Self-employed individual treated as employee For purposes of paragraph (1)(A), the term employee includes an individual described in section 401(c)(1). (c) Eligible property For purposes of this section— (1) In general The term eligible