of this section, the terms franchise , franchisee , franchisor , and franchise fee have the meanings given such terms in part 436 of title 16, Code of Federal Regulations. (e) Eligible veteran For purposes of this section, the term eligible veteran means a person who served in the active military, naval, or air service, and who was discharged or released therefrom under conditions other than dishonorable who pays or incurs a qualified franchise fee in connection with a franchise agreement with a franchisor. (f) Transfer of credit With respect to the credit under subsection (a) for any taxable year, an eligible veteran may elect to transfer the credit to an eligible franchisor in exchange for a discount in the franchise fee commensurate with the value of the credit. In such case, the franchisor specified in such election shall be treated as the taxpayer for purposes of this title with respect to such credit (or such portion thereof). For purposes of this subsection, the term ‘eligible franchisor’ means the person who grants a franchise to the eligible veteran and participates in the franchise agreement. (g) Election This section shall not apply to a taxpayer for any taxable year if such taxpayer elects to have this section not apply for such taxable year. . (b) Credit To be part of general business credit Section 38(b) of such Code is amended by striking plus at the end of paragraph (35), by striking the period at the end of paragraph (36) and inserting , plus , and by adding at the end the following new paragraph: (37) the veterans franchise fee credit determined under section 45S(a). . (c) Clerical amendment The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item: Sec. 45S. Veterans franchising credit. . (d) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2017. 3. Publication of information by Department of Veterans Affairs and Small Business Administration The