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131 STAT. 2108 PUBLIC LAW 115–97—DEC. 22, 2017 paragraphs (1)(A) and (5)(A)(i) shall be applied by sub- stituting ‘50 percent’ for ‘the applicable percentage’. ‘‘(B) FORM OF ELECTION.—Any election under this para- graph shall be made at such time and in such form and manner as the Secretary may prescribe.’’. (f) COORDINATION WITH SECTION 280F.—Clause (iii) of section 168(k)(2)(F) is amended by striking ‘‘placed in service by the tax- payer after December 31, 2017’’ and inserting ‘‘acquired by the taxpayer before September 28, 2017, and placed in service by the taxpayer after September 27, 2017’’. (g) QUALIFIED FILM AND TELEVISION AND LIVE THEATRICAL PRODUCTIONS.— (1) IN GENERAL.—Clause (i) of section 168(k)(2)(A), as amended by section 13204, is amended— (A) in subclause (II), by striking ‘‘or’’, (B) in subclause (III), by adding ‘‘or’’ after the comma, and (C) by adding at the end the following: ‘‘(IV) which is a qualified film or television produc- tion (as defined in subsection (d) of section 181) for which a deduction would have been allowable under section 181 without regard to subsections (a)(2) and (g) of such section or this subsection, or ‘‘(V) which is a qualified live theatrical production (as defined in subsection (e) of section 181) for which a deduction would have been allowable under section 181 without regard to subsections (a)(2) and (g) of such section or this subsection,’’. (2) PRODUCTION PLACED IN SERVICE.—Paragraph (2) of sec- tion 168(k) is amended by adding at the end the following: ‘‘(H) PRODUCTION PLACED IN SERVICE.—For purposes of subparagraph (A)— ‘‘(i) a qualified film or television production shall be considered to be placed in service at the time of initial release or broadcast, and ‘‘(ii) a qualified live theatrical production shall be considered to be placed in service at the time of the initial live staged performance.’’. (h) EFFECTIVE DATE.— (1) IN GENERAL.—Except as provided by paragraph (2), the amendments made by this section shall apply to property which— (A) is acquired after September 27, 2017, and (B) is placed in service after such date. For purposes of the preceding sentence, property shall not be treated as acquired after the date on which a written binding contract is entered into for such acquisition. (2) SPECIFIED PLANTS.—The amendments made by this sec- tion shall apply to specified plants planted or grafted after September 27, 2017. SEC. 13202. MODIFICATIONS TO DEPRECIATION LIMITATIONS ON LUXURY AUTOMOBILES AND PERSONAL USE PROPERTY. (a) LUXURY AUTOMOBILES.— (1) IN GENERAL.—280F(a)(1)(A) is amended— (A) in clause (i), by striking ‘‘$2,560’’ and inserting ‘‘$10,000’’, 26 USC 168 note. 26 USC 168. VerDate Sep 11 2014 10:09 Oct 18, 2018 Jkt 079139 PO 00097 Frm 00056 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL097.115 PUBL097 dkrause on DSKBC28HB2PROD with PUBLAWS