‘‘(II) such contribution is made 
during the period beginning on the 
applicable disaster date with respect 
to the disaster described in subclause 
(I) and ending on December 31, 
2015, and 
‘‘(III) such contribution is made 
in cash to an organization described 
in subparagraph (A) (other than an 
organization 
described 
in 
section 
509(a)(3)). 
Such term shall not include a contribution 
if the contribution is for establishment of 
a new, or maintenance in an existing, 
donor advised fund (as defined in section 
4966(d)(2)). 
‘‘(v) APPLICABLE DISASTER DATE.— 
For purposes of clause (iv)(II), the term 
‘applicable disaster date’ means, with re-
spect to any federally declared disaster de-
scribed in clause (iv)(I), the date on which 
the disaster giving rise to the Presidential 
declaration 
described 
in 
section 
165(i)(5)(A) occurred. 
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‘‘(vi) 
SUBSTANTIATION
REQUIRE-
MENT.—This paragraph shall not apply to 
any qualified disaster contribution unless 
the taxpayer obtains from such organiza-
tion to which the contribution was made a 
contemporaneous written acknowledgment 
(within the meaning of subsection (f)(8)) 
that such contribution was used (or is to 
be used) for a purpose described in clause 
(iv)(III).’’. 
(b) CORPORATIONS.— 
(1) IN
GENERAL.—Paragraph (2) of section 
170(b) of the Internal Revenue Code of 1986 is 
amended by redesignating subparagraph (C) as sub-
paragraph (D) and by inserting after subparagraph 
(B) the following new subparagraph: 
‘‘(C) QUALIFIED
DISASTER
CONTRIBU-
TIONS.— 
‘‘(i) IN GENERAL.—Any qualified dis-
aster contribution shall be allowed to the 
extent that the aggregate of such contribu-
tions does not exceed the excess of 20 per-
cent of the taxpayer’s taxable income over 
the amount of charitable contributions al-
lowed under subparagraph (A). 
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‘‘(ii) CARRYOVER.—If the aggregate 
amount of contributions described in clause 
(i) exceeds the limitation under clause (i), 
such excess shall be treated (in a manner 
consistent with the rules of subsection 
(d)(1)) as a charitable contribution to 
which clause (i) applies in each of the 5 
succeeding years in order of time. 
‘‘(iii) 
QUALIFIED
DISASTER
CON-
TRIBUTION.—The term ‘qualified disaster 
contribution’ has the meaning given such 
term under paragraph (2)(F)(iv). 
‘‘(iv) 
SUBSTANTIATION
REQUIRE-
MENT.—This paragraph shall not apply to 
any qualified disaster contribution unless 
the taxpayer obtains from such organiza-
tion to which the contribution was made a 
contemporaneous written acknowledgment 
(within the meaning of subsection (f)(8)) 
that such contribution was used (or is to 
be used) for a purpose described in para-
graph (1)(F)(iv)(III).’’. 
(2) CONFORMING AMENDMENTS.— 
(A) Subparagraph (A) of section 170(b)(2) 
of such Code is amended by striking ‘‘subpara-
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graph (B) applies’’ and inserting ‘‘subpara-
graphs (B) and (C) apply’’. 
(B) Subparagraph (B) of section 170(b)(2) 
of such Code is amended by striking ‘‘subpara-
graph (A)’’ and inserting ‘‘subparagraphs (A) 
and (C)’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to disasters arising in taxable years 
ending after December 31, 2011. 
SEC. 103. LOSSES ATTRIBUTABLE TO DISASTERS IN 2012, 
2013, 2014, AND 2015. 
(a) IN GENERAL.—Section 165(h) of the Internal 
Revenue Code of 1986 is amended by redesignating para-
graphs (3) and (4) as paragraphs (4) and (5), respectively, 
and by inserting after paragraph (2) the following: 
‘‘(3) SPECIAL RULE FOR LOSSES IN FEDERALLY 
DECLARED DISASTERS.— 
‘‘(A) IN GENERAL.—If an individual has a 
net disaster loss for any taxable year, the 
amount determined under paragraph (2)(A)(ii) 
shall be the sum of— 
‘‘(i) such net disaster loss, and 
‘‘(ii) so much of the excess referred to 
in the matter preceding clause (i) of para-
graph (2)(A) (reduced by the amount in 
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clause (i) of this subparagraph) as exceeds 
10 percent of the adjusted gross income of 
the individual. 
‘‘(B) NET DISASTER LOSS.—For purposes 
of subparagraph (A), the term ‘net disaster 
loss’ means the excess of— 
‘‘(i) the personal casualty losses— 
‘‘(I) attributable to a federally 
declared disaster occurring during the 
period beginning after December 31, 
2007, and before January 1, 2010, or 
during the period beginning after De-
cember 31, 2011, and before January 
1, 2016, and 
‘‘(II) occurring in a disaster 
area, over 
‘‘(ii) personal casualty gains. 
‘‘(C) FEDERALLY DECLARED DISASTER.— 
For purposes of this paragraph— 
‘‘(i) 
FEDERALLY
DECLARED
DIS-
ASTER.—The term ‘federally declared dis-
aster’ has the meaning given such term by 
subsection (i)(5)(A). 
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‘‘(ii) DISASTER AREA.—The term ‘dis-
aster area’ has the meaning given such 
term by subsection (i)(5)(B).’’. 
(b) CONFORMING AMENDMENT.—Paragraph (4) of 
section 165(h) of such Code, as so redesignated, is amend-
ed by striking ‘‘paragraph (2)’’ and inserting ‘‘paragraphs 
(2) and (3)’’. 
(c) LOSS ALLOWED WHETHER OR NOT INDIVIDUAL 
ITEMIZED DEDUCTIONS.—Section 62(a) of the Internal 
Revenue Code of 1986 is amended by inserting after para-
graph (21) the following new paragraph: 
‘‘(22) DISASTER CASUALTY LOSSES.—Any net 
disaster loss (as defined in section 165(h)(3)(B)).’’. 
(d) TECHNICAL AMENDMENT.—Subparagraph (A) of 
section 165(i)(5) of the Internal Revenue Code of 1986 
is amended by inserting ‘‘major’’ after ‘‘means any’’. 
(e) EFFECTIVE DATE.—The amendments made by 
this section shall apply to disasters declared in taxable 
years beginning after December 31, 2011. 
(f) USE OF AMENDED INCOME TAX RETURNS TO 
TAKE INTO ACCOUNT RECEIPT OF CERTAIN CASUALTY 
LOSS GRANTS
BY DISALLOWING PREVIOUSLY TAKEN 
CASUALTY LOSS DEDUCTIONS.— 
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(1) IN GENERAL.—Notwithstanding any other 
provision of the Internal Revenue Code of 1986, if 
a taxpayer— 
(A) claims a deduction for any taxable year 
with respect to a casualty loss to a principal 
residence (within the meaning of section 121 of 
such Code) resulting from any federally de-
clared 
disaster 
(as 
defined 
in 
section 
165(h)(3)(C) of such Code) occurring during 
the period beginning after December 31, 2011, 
and before January 1, 2016, and 
(B) in a subsequent taxable year receives 
a grant under any Federal or State program as 
reimbursement for such loss, 
such taxpayer may elect to file an amended income 
tax return for the taxable year in which such deduc-
tion was allowed (and for any taxable year to which 
such deduction is carried) and reduce (but not below 
zero) the amount of such deduction by the amount 
of such reimbursement. 
(2) TIME
OF
FILING
AMENDED
RETURN.— 
Paragraph (1) shall apply with respect to any grant 
only if any amended income tax returns with respect 
to such grant are filed not later than the later of— 
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(A) the due date for filing the tax return 
for the taxable year in which the taxpayer re-
ceives such grant, or 
(B) the date which is 1 year after the date 
of the enactment of this Act. 
(3) WAIVER OF PENALTIES AND INTEREST.— 
Any underpayment of tax resulting from the reduc-
tion under paragraph (1) of the amount otherwise 
allowable as a deduction shall not be subject to any 
penalty or interest under such Code if such tax is 
paid not later than 1 year after the filing of the 
amended return to which such reduction relates. 
SEC. 104. NET OPERATING LOSSES ATTRIBUTABLE TO DIS-
ASTERS IN 2012, 2013, 2014, AND 2015. 
(a) IN GENERAL.—Section 172(b)(1) of the Internal 
Revenue Code of 1986 is amended by adding at the end 
the following: 
‘‘(G) CERTAIN
LOSSES
ATTRIBUTABLE 
FEDERALLY
DECLARED
DISASTERS.—In the 
case of a taxpayer who has a qualified disaster 
loss (as defined in subsection (i)), such loss 
shall be a net operating loss carryback to each 
of the 5 taxable years preceding the taxable 
year of such loss.’’. 
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(b) RULES RELATING
TO QUALIFIED DISASTER 
LOSSES.—Section 172 of the Internal Revenue Code of 
1986 is amended by redesignating subsection (i) a sub-
section (j) and by inserting after subsection (h) the fol-
lowing: 
‘‘(i) RULES RELATING
TO QUALIFIED DISASTER 
LOSSES.—For purposes of this section— 
‘‘(1) IN
GENERAL.—The term ‘qualified dis-
aster loss’ means the lesser of— 
‘‘(A) the sum of— 
‘‘(i) the losses allowable under section 
165 for the taxable year— 
‘‘(I) attributable to a federally 
declared disaster (as defined in sec-
tion 165(i)(5)(A)) occurring during 
the period beginning after December 
31, 2007, and before January 1, 
2010, or during the period beginning 
after December 31, 2011, and before 
January 1, 2016, and 
‘‘(II) occurring in a disaster area 
(as defined in section 165(i)(5)(B)), 
and 
‘‘(ii) the deduction for the taxable 
year for qualified disaster expenses which 
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is allowable under section 198A(a) or 
which would be so allowable if not other-
wise treated as an expense, or 
‘‘(B) the net operating loss for such tax-
able year. 
‘‘(2) 
COORDINATION
WITH
SUBSECTION 
(b)(2).—For purposes of applying subsection (b)(2), 
a qualified disaster loss for any taxable year shall be 
treated in a manner similar to the manner in which 
a specified liability loss is treated. 
‘‘(3) ELECTION.—Any taxpayer entitled to a 5- 
year carryback under subsection (b)(1)(G) from any 
loss year may elect to have the carryback period 
with respect to such loss year determined without re-
gard to subsection (b)(1)(G). Such election shall be 
made in such manner as may be prescribed by the 
Secretary and shall be made by the due date (includ-
ing extensions of time) for filing the taxpayer’s re-
turn for the taxable year of the net operating loss. 
Such election, once made for any taxable year, shall 
be irrevocable for such taxable year. 
‘‘(4) EXCLUSION.—The term ‘qualified disaster 
loss’ shall not include any loss with respect to any 
property described in section 1400N(p)(3).’’. 
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(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to losses arising in taxable years 
beginning after December 31, 2011, in connection with 
disasters declared after such date. 
SEC. 105. WAIVER OF CERTAIN MORTGAGE REVENUE BOND 
REQUIREMENTS FOLLOWING 2012, 2013, 2014, 
AND 2015 DISASTERS. 
(a) IN GENERAL.—Paragraph (13) of section 143(k) 
of the Internal Revenue Code of 1986 is amended by strik-
ing ‘‘before January 1, 2010’’ in subparagraphs (A)(i) and 
(B)(i) of such paragraph and inserting ‘‘during the period 
beginning after December 31, 2007, and before January 
1, 2010, or during the period beginning after December 
31, 2011, and before January 1, 2016’’. 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply to disasters occurring after Decem-
ber 31, 2011. 
SEC. 106. INCREASED EXPENSING AND BONUS DEPRECIA-
TION FOR QUALIFIED DISASTER ASSISTANCE 
PROPERTY FOLLOWING 2012, 2013, 2014, AND 
2015 DISASTERS. 
(a) 
IN
GENERAL.—Subclause 
(I) 
of 
section 
168(n)(2)(A)(ii) of the Internal Revenue Code of 1986 is 
amended by striking ‘‘before January 1, 2010’’ and insert-
ing ‘‘during the period beginning after December 31, 
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2007, and before January 1, 2010, or during the period 
beginning after December 31, 2011, and before January 
1, 2016’’. 
(b) 
REMOVAL
OF
EXCLUSION.—Section 
168(n)(2)(B)(i) of such Code is amended by inserting 
‘‘and’’ at the end of subclause (I), by striking ‘‘, and’’ 
at the end of subclause (II) and inserting a period, and 
by striking subclause (III). 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to property placed in service after 
December 31, 2011, with respect to disasters declared 
after such date. 
SEC. 107. INCREASE IN NEW MARKETS TAX CREDIT FOR IN-
VESTMENTS IN COMMUNITY DEVELOPMENT 
ENTITIES SERVING 2012, 2013, 2014, AND 2015 
DISASTER AREAS. 
(a) IN GENERAL.—Subsection (f) of section 45D of 
the Internal Revenue Code of 1986 is amended by adding 
at the end the following new paragraph: 
‘‘(4) INCREASED
SPECIAL
ALLOCATION
FOR 
COMMUNITY DEVELOPMENT ENTITIES SERVING DIS-
ASTER AREAS WITH RESPECT TO DISASTERS OCCUR-
RING IN ANY OF CALENDAR YEARS 2012 THROUGH 
2015.— 
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‘‘(A) IN GENERAL.—In the case of each 
calendar year which begins after 2012 and be-
fore 2017, the new markets tax credit limitation 
shall be increased by an amount equal to 
$500,000,000, to be allocated among qualified 
community development entities to make quali-
fied low-income community investments within 
any covered federally declared disaster area. 
‘‘(B) ALLOCATION
OF
INCREASE.—The 
amount of the increase in limitation under sub-
paragraph (A) shall be allocated by the Sec-
retary under paragraph (2) to qualified commu-
nity development entities and shall give priority 
to such entities with a record of having success-
fully provided capital or technical assistance to 
businesses or communities within any covered 
federally declared disaster area or areas for 
which the allocation is requested. 
‘‘(C) APPLICATION OF CARRYFORWARD.— 
Paragraph (3) shall be applied separately with 
respect to the amount of any increase under 
subparagraph (A). 
‘‘(D) COVERED
FEDERALLY
DECLARED 
DISASTER AREA.—For purposes of this para-
graph, the term ‘covered federally declared dis-
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aster area’ means any disaster area resulting 
from any federally declared disaster occurring 
after December 31, 2011, and before January 
1, 2016. For purposes of the preceding sen-
tence, the terms ‘federally declared disaster’ 
and ‘disaster area’ have the meanings given 
such terms in section 165(i)(5).’’. 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply to calendar years beginning after 
2012. 
SEC. 108. SPECIAL RULES FOR USE OF RETIREMENT FUNDS 
IN 
CONNECTION 
WITH 
FEDERALLY 
DE-
CLARED DISASTERS IN 2012, 2013, 2014, AND 
2015. 
(a) TAX-FAVORED WITHDRAWALS FROM RETIRE-
MENT PLANS.— 
(1) IN
GENERAL.—Paragraph (2) of section 
72(t) of the Internal Revenue Code of 1986 is 
amended by adding at the end the following new 
subparagraph: 
‘‘(H) DISTRIBUTIONS FROM RETIREMENT 
PLANS IN CONNECTION WITH FEDERALLY DE-
CLARED DISASTERS DURING IN ANY CALENDAR 
YEARS AFTER 2011.—Any qualified disaster re-
covery distribution.’’. 
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(2) QUALIFIED DISASTER RECOVERY DISTRIBU-
TION.—Section 72(t) of such Code is amended by 
adding at the end the following new paragraph: 
‘‘(11) QUALIFIED
DISASTER
RECOVERY
DIS-
TRIBUTION.—For purposes of paragraph (2)(H)— 
‘‘(A) IN GENERAL.—Except as provided in 
subparagraph (B), the term ‘qualified disaster 
recovery distribution’ means, with respect to 
any federally declared disaster occurring in any 
calendar year beginning after 2011 and before 
January 1, 2016, any distribution from an eli-
gible retirement plan made on or after the ap-
plicable disaster date and before the date that 
is 1 year after the applicable disaster date, to 
an individual whose principal place of abode on 
the applicable disaster date, is located in the 
disaster area and who has sustained an eco-
nomic loss by reason of such federally declared 
disaster. 
‘‘(B) DOLLAR LIMITATION.— 
‘‘(i) IN
GENERAL.—For purposes of 
this subsection, the aggregate amount of 
distributions received by an individual with 
respect to any federally declared disaster 
occurring during in any calendar year be-
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ginning after 2011 shall not exceed 
$100,000. 
‘‘(ii) TREATMENT OF PLAN DISTRIBU-
TIONS.—If a distribution to an individual 
would (without regard to clause (i)) be a 
qualified disaster recovery distribution, a 
plan shall not be treated as violating any 
requirement of this title merely because 
the plan treats such distribution as a 
qualified disaster recovery distribution, un-
less the aggregate amount of such distribu-
tions from all plans maintained by the em-
ployer (and any member of any controlled 
group which includes the employer) to such 
individual with respect to any federally de-
clared disaster occurring in any calendar 
year 
beginning 
after 
2011 
exceeds 
$100,000. 
‘‘(iii) CONTROLLED GROUP.—For pur-
poses of clause (ii), the term ‘controlled 
group’ means any group treated as a single 
employer under subsection (b), (c), (m), or 
(o) of section 414. 
‘‘(C) AMOUNT DISTRIBUTED MAY BE RE-
PAID.— 
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‘‘(i) IN
GENERAL.—Any individual 
who receives a qualified disaster recovery 
distribution may, at any time during the 3- 
year period beginning on the day after the 
date on which such distribution was re-
ceived, make one or more contributions in 
an aggregate amount not to exceed the 
amount of such distribution to an eligible 
retirement plan of which such individual is 
a beneficiary and to which a rollover con-
tribution of such distribution could be 
made under section 402(c), 403(a)(4), 
403(b)(8), 408(d)(3), or 457(e)(16), as the 
case may be. 
‘‘(ii) TREATMENT OF REPAYMENTS OF 
DISTRIBUTIONS
FROM
ELIGIBLE
RETIRE-
MENT
PLANS
OTHER
THAN
IRAS.—For 
purposes of this title, if a contribution is 
made pursuant to clause (i) with respect to 
a qualified disaster recovery distribution 
from an eligible retirement plan other than 
an individual retirement plan, then the tax-
payer shall, to the extent of the amount of 
the contribution, be treated as having re-
ceived the qualified disaster recovery dis-
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tribution in an eligible rollover distribution 
(as defined in section 402(c)(4)) and as 
having transferred the amount to the eligi-
ble retirement plan in a direct trustee to 
trustee transfer within 60 days of the dis-
tribution. 
‘‘(iii) TREATMENT
OF
REPAYMENTS 
FOR
DISTRIBUTIONS
FROM
IRAS.—For 
purposes of this title, if a contribution is 
made pursuant to clause (i) with respect to 
a qualified disaster recovery distribution 
from an individual retirement plan (as de-
fined by section 7701(a)(37)), then, to the 
extent of the amount of the contribution, 
the qualified disaster recovery distribution 
shall be treated as a distribution described 
in section 408(d)(3) and as having been 
transferred to the eligible retirement plan 
in a direct trustee to trustee transfer with-
in 60 days of the distribution. 
‘‘(D) INCOME INCLUSION SPREAD OVER 3- 
YEAR PERIOD.— 
‘‘(i) IN GENERAL.—In the case of any 
qualified disaster recovery distribution, un-
less the taxpayer elects not to have this 
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paragraph apply for any taxable year, any 
amount required to be included in gross in-
come for such taxable year shall be so in-
cluded ratably over the 3-taxable-year pe-
riod beginning with such taxable year. 
‘‘(ii) SPECIAL RULE.—For purposes of 
clause (i), rules similar to the rules of sub-
paragraph (E) of section 408A(d)(3) shall 
apply. 
‘‘(E) OTHER DEFINITIONS.— 
‘‘(i) 
FEDERALLY
DECLARED
DIS-
ASTER; DISASTER AREA.—The terms ‘fed-
erally declared disaster’ and ‘disaster area’ 
have the meanings given such terms under 
section 165(i)(5). 
‘‘(ii) APPLICABLE DISASTER DATE.— 
The term ‘applicable disaster date’ means, 
with respect to any federally declared dis-
aster, the date on which such federally de-
clared disaster occurs. 
‘‘(iii) ELIGIBLE RETIREMENT PLAN.— 
The term ‘eligible retirement plan’ shall 
have the meaning given such term by sec-
tion 402(c)(8)(B). 
‘‘(F) SPECIAL RULES.— 
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‘‘(i) EXEMPTION
OF
DISTRIBUTIONS 
FROM
TRUSTEE
TO
TRUSTEE
TRANSFER 
AND WITHHOLDING RULES.—For purposes 
of sections 401(a)(31), 402(f), and 3405, 
qualified disaster recovery distributions 
shall not be treated as eligible rollover dis-
tributions. 
‘‘(ii) QUALIFIED DISASTER RECOVERY 
DISTRIBUTIONS
TREATED
AS
MEETING 
PLAN
DISTRIBUTION
REQUIREMENTS.— 
For purposes of this title, a qualified dis-
aster recovery distribution shall be treated 
as meeting the requirements of sections 
401(k)(2)(B)(i), 
403(b)(7)(A)(ii), 
403(b)(11), and 457(d)(1)(A).’’. 
(3) EFFECTIVE DATE.—The amendments made 
by this subsection shall apply to distributions with 
respect to disaster declared after December 31, 
2011. 
(b) LOANS FROM QUALIFIED PLANS.— 
(1) IN GENERAL.—Subsection (p) of section 72 
of the Internal Revenue Code of 1986 is amended by 
adding at the end the following new paragraph: 
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‘‘(6) INCREASE IN LIMIT ON LOANS NOT TREAT-
ED AS DISTRIBUTIONS WITH RESPECT TO DISASTERS 
IN ANY CALENDAR YEAR AFTER 2011.— 
‘‘(A) IN
GENERAL.—In the case of any 
loan from a qualified employer plan to a quali-
fied individual made during the applicable pe-
riod— 
‘‘(i) clause (i) of paragraph (2)(A) 
shall be applied by substituting ‘$100,000’ 
for ‘$50,000’, and 
‘‘(ii) clause (ii) of such paragraph 
shall be applied by substituting ‘the 
present value of the nonforfeitable accrued 
benefit of the employee under the plan’ for 
‘one-half of the present value of the non-
forfeitable accrued benefit of the employee 
under the plan’. 
‘‘(B) DELAY OF REPAYMENT.—In the case 
of a qualified individual with an outstanding 
loan on or after the applicable disaster date 
from a qualified employer plan— 
‘‘(i) if the due date pursuant to sub-
paragraph (B) or (C) of paragraph (2) for 
any repayment with respect to such loan 
occurs during the 1-year period beginning 
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on the applicable disaster date, such due 
date shall be delayed for 1 year, 
‘‘(ii) any subsequent repayments with 
respect to any such loan shall be appro-
priately adjusted to reflect the delay in the 
due date under clause (i) and any interest 
accruing during such delay, and 
‘‘(iii) in determining the 5-year period 
and the term of a loan under subpara-
graph (B) or (C) of paragraph (2), the pe-
riod described in clause (i) shall be dis-
regarded. 
‘‘(C) DEFINITIONS.—For purposes of this 
paragraph— 
‘‘(i) QUALIFIED
INDIVIDUAL.—The 
term ‘qualified individual’ means, with re-
spect to any federally declared disaster oc-
curring during in any calendar year begin-
ning after 2011, an individual whose prin-
cipal place of abode on the applicable dis-
aster date is located in the disaster area 
and who has sustained an economic loss by 
reason of such federally declared disaster. 
‘‘(ii) APPLICABLE PERIOD.—The ap-
plicable period is the period beginning on 
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the applicable disaster date and ending on 
December 31, 2016. 
‘‘(iii) FEDERALLY
DECLARED
DIS-
ASTER; DISASTER AREA.—The terms ‘fed-
erally declared disaster’ and ‘disaster area’ 
have the meanings given such terms under 
section 165(i)(5). 
‘‘(iv) APPLICABLE DISASTER DATE.— 
The term ‘applicable disaster date’ means, 
with respect to any federally declared dis-
aster, the date on which such federally de-
clared disaster occurs.’’. 
(2) EFFECTIVE DATE.—The amendment made 
by this subsection shall apply to loans made with re-
spect to disaster declared after December 31, 2011. 
(c) PROVISIONS
RELATING
TO
PLAN
AMEND-
MENTS.— 
(1) IN GENERAL.—If this subsection applies to 
any amendment to any plan or annuity contract, 
such plan or contract shall be treated as being oper-
ated in accordance with the terms of the plan during 
the period described in paragraph (2)(B)(i). 
(2) AMENDMENTS TO WHICH SUBSECTION AP-
PLIES.— 
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(A) IN
GENERAL.—This subsection shall 
apply to any amendment to any plan or annuity 
contract which is made— 
(i) pursuant to any provision of, or 
amendment made by, this section, or pur-
suant to any regulation issued by the Sec-
retary or the Secretary of Labor under any 
provision of, or amendment made by, this 
section, and 
(ii) on or before the last day of the 
first plan year beginning on or after Janu-
ary 1, 2016, or such later date as the Sec-
retary may prescribe. 
In the case of a governmental plan (as defined 
in section 414(d)), clause (ii) shall be applied 
by substituting the date which is 2 years after 
the date otherwise applied under clause (ii). 
(B) CONDITIONS.—This subsection shall 
not apply to any amendment unless— 
(i) during the period— 
(I) beginning on the date that 
the provisions of, and amendments 
made by, this section or the regulation 
described 
in 
subparagraph 
(A)(i) 
takes effect (or in the case of a plan 
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