MODIFICATION OF PRORATION RULES FOR PROPERTY AND CASUALTY INSURANCE COMPANIES.

SEC. 13515. MODIFICATION OF PRORATION RULES FOR PROPERTY AND CASUALTY INSURANCE COMPANIES.(a) In General.—Section 832(b)(5)(B) is amended—(1) by striking “15 percent” and inserting “the applicable percentage”, and(2) by inserting at the end the following new sentence: “For purposes of this subparagraph, the applicable percentage is 5.25 percent divided by the highest rate in effect under section 11(b).”.(b) Effective Date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2017.