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131 STAT. 2105 PUBLIC LAW 115–97—DEC. 22, 2017 PART III—COST RECOVERY AND ACCOUNTING METHODS Subpart A—Cost Recovery SEC. 13201. TEMPORARY 100-PERCENT EXPENSING FOR CERTAIN BUSI- NESS ASSETS. (a) INCREASED EXPENSING.— (1) IN GENERAL.—Section 168(k) is amended— (A) in paragraph (1)(A), by striking ‘‘50 percent’’ and inserting ‘‘the applicable percentage’’, and (B) in paragraph (5)(A)(i), by striking ‘‘50 percent’’ and inserting ‘‘the applicable percentage’’. (2) APPLICABLE PERCENTAGE.—Paragraph (6) of section 168(k) is amended to read as follows: ‘‘(6) APPLICABLE PERCENTAGE.—For purposes of this sub- section— ‘‘(A) IN GENERAL.—Except as otherwise provided in this paragraph, the term ‘applicable percentage’ means— ‘‘(i) in the case of property placed in service after September 27, 2017, and before January 1, 2023, 100 percent, ‘‘(ii) in the case of property placed in service after December 31, 2022, and before January 1, 2024, 80 percent, ‘‘(iii) in the case of property placed in service after December 31, 2023, and before January 1, 2025, 60 percent, ‘‘(iv) in the case of property placed in service after December 31, 2024, and before January 1, 2026, 40 percent, and ‘‘(v) in the case of property placed in service after December 31, 2025, and before January 1, 2027, 20 percent. ‘‘(B) RULE FOR PROPERTY WITH LONGER PRODUCTION PERIODS.—In the case of property described in subpara- graph (B) or (C) of paragraph (2), the term ‘applicable percentage’ means— ‘‘(i) in the case of property placed in service after September 27, 2017, and before January 1, 2024, 100 percent, ‘‘(ii) in the case of property placed in service after December 31, 2023, and before January 1, 2025, 80 percent, ‘‘(iii) in the case of property placed in service after December 31, 2024, and before January 1, 2026, 60 percent, ‘‘(iv) in the case of property placed in service after December 31, 2025, and before January 1, 2027, 40 percent, and ‘‘(v) in the case of property placed in service after December 31, 2026, and before January 1, 2028, 20 percent. ‘‘(C) RULE FOR PLANTS BEARING FRUITS AND NUTS.— In the case of a specified plant described in paragraph (5), the term ‘applicable percentage’ means— 26 USC 168. VerDate Sep 11 2014 10:09 Oct 18, 2018 Jkt 079139 PO 00097 Frm 00053 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL097.115 PUBL097 dkrause on DSKBC28HB2PROD with PUBLAWS