as exceeds $5,000 but does not exceed $10,000, plus 29 percent of so much of taxable income as exceeds $15,000. (f) Inflation adjustment Section 1(f) is amended by striking by striking paragraphs (7) and (8) and inserting the following new paragraph: (7) Application to taxable years after 2017 In prescribing tables under paragraph (1) which apply to any taxable year beginning in a calendar year after 2017, paragraph (3) shall be applied by substituting 2016 for 1992 in subparagraph (B) thereof. . (g) Repeal of modifications to superceded rates Section 1 is amended by striking subsection (i) and by redesignating subsection (j) (as added by section 202) as subsection (i). (h) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2016. V Tax-exempt reorganizations 501. No taxable event for change of corporate form Notwithstanding any provision of the Internal Revenue Code of 1986, a change in the organizational structure of a corporation, however organized, into another organizational structure is not a taxable event for the purposes of such Code if there is no change among the owners, their ownership interests, or the assets of the organization (other than a de minimus change in such assets). The preceding sentence shall apply to changes in organizational structure occurring after December 31, 2016. VI Repeal of net investment income tax 601. Repeal of net investment income tax (a) In general Subtitle A of the Internal Revenue Code of 1986 is amended by striking chapter 2A. (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2016. VII Repeal of estate tax 701. Repeal of estate tax and retention of basis step-up Effective for estates of decedents dying after December 31, 2016, chapter 11 of the Internal Revenue Code of 1986 is repealed.