MODIFICATIONS OF TREATMENT OF CERTAIN FARM PROPERTY.

SEC. 13203. MODIFICATIONS OF TREATMENT OF CERTAIN FARM PROPERTY.(a) Treatment of Certain Farm Property as 5-Year Property.—Clause (vii) of section 168(e)(3)(B) is amended by striking “after December 31, 2008, and which is placed in service before January 1, 2010” and inserting “after December 31, 2017”.(b) Repeal of Required Use of 150-Percent Declining Balance Method.—Section 168(b)(2) is amended by striking subparagraph (B) and by redesignating subparagraphs (C) and (D) as subparagraphs (B) and (C), respectively.(c) Effective Date.—The amendments made by this section shall apply to property placed in service after December 31, 2017, in taxable years ending after such date.