(including any entity treated as a member of such group by reason of this clause). . (b) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2017. 13532. Repeal of advance refunding bonds (a) In general Paragraph (1) of section 149(d) is amended by striking as part of an issue described in paragraph (2), (3), or (4). and inserting to advance refund another bond. . (b) Conforming amendments (1) Section 149(d) is amended by striking paragraphs (2), (3), (4), and (6) and by redesignating paragraphs (5) and (7) as paragraphs (2) and (3). (2) Section 148(f)(4)(C) is amended by striking clause (xiv) and by redesignating clauses (xv) to (xvii) as clauses (xiv) to (xvi). (c) Effective date The amendments made by this section shall apply to advance refunding bonds issued after December 31, 2017. 13533. Cost basis of specified securities determined without regard to identification (a) In general Section 1012 is amended by adding at the end the following new subsection: (e) Cost basis of specified securities determined without regard to identification (1) In general Unless the Secretary permits the use of an average basis method for determining cost, in the case of the sale, exchange, or other disposition of a specified security (within the meaning of section 6045(g)(3)(B)), the basis (and holding period) of such security shall be determined on a first-in first-out basis. (2) Exception In the case of a sale, exchange, or other disposition of a specified security by a regulated investment company (as defined in section 851(a)), paragraph (1) shall not apply. . (b) Conforming amendments (1) Section 1012(c)(1) is amended by striking the conventions prescribed by regulations under this section and inserting the method applicable for determining the cost of such security . (2) Section 1012(c)(2)(A) is amended by inserting (as in effect prior to the enactment of the Tax Cuts and Jobs Act ) after this section . (3) Section 6045(g)(2)(B)(i)(I) is amended by striking unless