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131 STAT. 2143 PUBLIC LAW 115–97—DEC. 22, 2017 ‘‘(i) it is of a type traditionally carried on by life insurance companies for investment purposes, but only if the carrying on of such activity (other than in the case of real estate) does not constitute the active con- duct of a trade or business, or ‘‘(ii) it involves the performance of administrative services in connection with plans providing life insur- ance, pension, or accident and health benefits.’’. (2) Section 465(c)(7)(D)(v)(II) is amended by striking ‘‘sec- tion 806(b)(3)’’ and inserting ‘‘section 453B(e)(3)’’. (3) Section 801(a)(2) is amended by striking subparagraph (C). (4) Section 804 is amended by striking ‘‘means—’’ and all that follows and inserting ‘‘means the general deductions provided in section 805.’’. (5) Section 805(a)(4)(B), as amended by this Act, is amended by striking clause (i) and by redesignating clauses (ii), (iii), and (iv) as clauses (i), (ii), and (iii), respectively. (6) Section 805(b)(2)(A), as amended by this Act, is amended by striking clause (iii) and by redesignating clauses (iv) and (v) as clauses (iii) and (iv), respectively. (7) Section 842(c) is amended by striking paragraph (1) and by redesignating paragraphs (2) and (3) as paragraphs (1) and (2), respectively. (8) Section 953(b)(1), as amended by section 13511, is amended by striking subparagraph (A) and by redesignating subparagraphs (B) and (C) as subparagraphs (A) and (B), respectively. (c) EFFECTIVE DATE.—The amendments made by this section shall apply to taxable years beginning after December 31, 2017. SEC. 13513. ADJUSTMENT FOR CHANGE IN COMPUTING RESERVES. (a) IN GENERAL.—Paragraph (1) of section 807(f) is amended to read as follows: ‘‘(1) TREATMENT AS CHANGE IN METHOD OF ACCOUNTING.— If the basis for determining any item referred to in subsection (c) as of the close of any taxable year differs from the basis for such determination as of the close of the preceding taxable year, then so much of the difference between— ‘‘(A) the amount of the item at the close of the taxable year, computed on the new basis, and ‘‘(B) the amount of the item at the close of the taxable year, computed on the old basis, as is attributable to contracts issued before the taxable year shall be taken into account under section 481 as adjustments attributable to a change in method of accounting initiated by the taxpayer and made with the consent of the Secretary.’’. (b) EFFECTIVE DATE.—The amendments made by this section shall apply to taxable years beginning after December 31, 2017. SEC. 13514. REPEAL OF SPECIAL RULE FOR DISTRIBUTIONS TO SHARE- HOLDERS FROM PRE-1984 POLICYHOLDERS SURPLUS ACCOUNT. (a) IN GENERAL.—Subpart D of part I of subchapter L is amended by striking section 815 (and by striking the item relating to such section in the table of sections for such subpart). (b) CONFORMING AMENDMENT.—Section 801 is amended by striking subsection (c). 26 USC prec. 811. 26 USC 807 note. 26 USC 453B note. 26 USC 465. VerDate Sep 11 2014 10:09 Oct 18, 2018 Jkt 079139 PO 00097 Frm 00091 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL097.115 PUBL097 dkrause on DSKBC28HB2PROD with PUBLAWS