allowable as a deduction under this chapter to the taxpayer for the taxable year for the following amounts which are allocable to employment in an economically distressed zone: (i) Employer contributions under a stock bonus, pension, profit-sharing, or annuity plan. (ii) Employer-provided coverage under any accident or health plan for employees. (iii) The cost of life or disability insurance provided to employees. (B) Allocation For purposes of subparagraph (A), an amount shall be treated as allocable to an economically distressed zone only if such amount is with respect to employment of an individual for services provided, and the principal place of employment of whom is, in such zone. (3) Minority business (A) In general The term minority business means— (i) a sole proprietorship carried on by a qualified individual, or (ii) a corporation or partnership— (I) at least 50 percent of the ownership interests in which are held by one or more qualified individuals, and (II) of which a qualified individual is the president or chief executive officer (or a substantially equivalent position). (B) Qualified individual The term qualified individual means any individual who— (i) is of Asian-Indian, Asian-Pacific, Black, Hispanic or native American origin or descent, and (ii) is a United States citizen or legal resident of the United States or any of its territories or possessions. (4) Aggregation rules (A) In general Members of an affiliated group shall be treated as a single taxpayer. (B) Affiliated group The term qualified group means an affiliated group (as defined in section 1504(a), determined without regard to section 1504(b)(3)) one or more members of which are engaged in the active conduct of a trade or business within an economically distressed zone. (C) Related persons Persons shall be treated as related to each other if such persons would be treated as a single employer under the regulations prescribed under section 52(b). 1400AA–2. Designation of economically distressed zones (a) In general For purposes of