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131 STAT. 2106 PUBLIC LAW 115–97—DEC. 22, 2017 ‘‘(i) in the case of a plant which is planted or grafted after September 27, 2017, and before January 1, 2023, 100 percent, ‘‘(ii) in the case of a plant which is planted or grafted after December 31, 2022, and before January 1, 2024, 80 percent, ‘‘(iii) in the case of a plant which is planted or grafted after December 31, 2023, and before January 1, 2025, 60 percent, ‘‘(iv) in the case of a plant which is planted or grafted after December 31, 2024, and before January 1, 2026, 40 percent, and ‘‘(v) in the case of a plant which is planted or grafted after December 31, 2025, and before January 1, 2027, 20 percent.’’. (3) CONFORMING AMENDMENT.— (A) Paragraph (5) of section 168(k) is amended by striking subparagraph (F). (B) Section 168(k) is amended by adding at the end the following new paragraph: ‘‘(8) PHASE DOWN.—In the case of qualified property acquired by the taxpayer before September 28, 2017, and placed in service by the taxpayer after September 27, 2017, paragraph (6) shall be applied by substituting for each percentage therein— ‘‘(A) ‘50 percent’ in the case of— ‘‘(i) property placed in service before January 1, 2018, and ‘‘(ii) property described in subparagraph (B) or (C) of paragraph (2) which is placed in service in 2018, ‘‘(B) ‘40 percent’ in the case of— ‘‘(i) property placed in service in 2018 (other than property described in subparagraph (B) or (C) of para- graph (2)), and ‘‘(ii) property described in subparagraph (B) or (C) of paragraph (2) which is placed in service in 2019, ‘‘(C) ‘30 percent’ in the case of— ‘‘(i) property placed in service in 2019 (other than property described in subparagraph (B) or (C) of para- graph (2)), and ‘‘(ii) property described in subparagraph (B) or (C) of paragraph (2) which is placed in service in 2020, and ‘‘(D) ‘0 percent’ in the case of— ‘‘(i) property placed in service after 2019 (other than property described in subparagraph (B) or (C) of paragraph (2)), and ‘‘(ii) property described in subparagraph (B) or (C) of paragraph (2) which is placed in service after 2020.’’. (b) EXTENSION.— (1) IN GENERAL.—Section 168(k) is amended— (A) in paragraph (2)— (i) in subparagraph (A)(iii), clauses (i)(III) and (ii) of subparagraph (B), and subparagraph (E)(i), by striking ‘‘January 1, 2020’’ each place it appears and inserting ‘‘January 1, 2027’’, and (ii) in subparagraph (B)— 26 USC 168. VerDate Sep 11 2014 10:09 Oct 18, 2018 Jkt 079139 PO 00097 Frm 00054 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL097.115 PUBL097 dkrause on DSKBC28HB2PROD with PUBLAWS