DEPRECIATION OF CERTAIN RESIDENTIAL RENTAL PROPERTY OVER 30-YEAR PERIOD.

SEC. 202. [26 U.S.C. 168 note] DEPRECIATION OF CERTAIN RESIDENTIAL RENTAL PROPERTY OVER 30-YEAR PERIOD. Section 13204(b) of Public Law 115-97 is amended— (1) in paragraph (1), by striking “paragraph (2)” and inserting “paragraphs (2) and (3)”, and (2) by adding at the end the following: “(3) Certain residential rental property.—In the case of any residential rental property— “(A) which was placed in service before January 1, 2018, “(B) which is held by an electing real property trade or business (as defined in section 163(j)(7)(B) of the Internal Revenue Code of 1986), and “(C) for which subparagraph (A), (B), (C), (D), or (E) of section 168(g)(1) of the Internal Revenue Code of 1986 did not apply prior to such date, the amendments made by subsection (a)(3)(C) shall apply to taxable years beginning after December 31, 2017.” .