zone business property is placed in service. (b) Exception for certain property For purposes of this section, the term qualified hemp opportunity zone business property 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, qualified hemp opportunity zone business 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) Basis adjustments Section 1016(a) of such Code is amended by striking and at the end of paragraph (37), by striking the period at the end of paragraph (38) and inserting , and , and by inserting after paragraph (38) the following new paragraph: (39) to the extent provided in section 1400W–2(b). . (c) Clerical amendment The table of subchapters for chapter 1 of such Code is amended by inserting after the item relating to subchapter V the following new item: Subchapter W. Hemp opportunity zones . (d) Effective date The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act. 3. Increased qualified business income deduction for hemp producers (a) In general Section 199A(b) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (8) Special rule with respect to qualified business income from hemp production (A) In general In the case of any qualified trade or business which is engaged in hemp production and the gross receipts for the preceding taxable year of which do