commission exceptions for limitation on excessive employee remuneration (1) In general Paragraph (4) of section 162(m) is amended by striking subparagraphs (B) and (C) and by redesignating subparagraphs (D), (E), (F), and (G) as subparagraphs (B), (C), (D), and (E), respectively. (2) Conforming amendments (A) Paragraphs (5)(E) and (6)(D) of section 162(m) are each amended by striking subparagraphs (B), (C), and (D) and inserting subparagraph (B) . (B) Paragraphs (5)(G) and (6)(G) of section 162(m) are each amended by striking (F) and (G) and inserting (D) and (E) . (b) Modification of definition of covered employees Paragraph (3) of section 162(m) is amended— (1) in subparagraph (A), by striking as of the close of the taxable year, such employee is the chief executive officer of the taxpayer or is and inserting such employee is the principal executive officer or principal financial officer of the taxpayer at any time during the taxable year, or was , (2) in subparagraph (B)— (A) by striking 4 and inserting 3 , and (B) by striking (other than the chief executive officer) and inserting (other than any individual described in subparagraph (A)) , and (3) by striking or at the end of subparagraph (A), by striking the period at the end of subparagraph (B) and inserting , or , and by adding at the end the following: (C) was a covered employee of the taxpayer (or any predecessor) for any preceding taxable year beginning after December 31, 2016. . (c) Expansion of applicable employer (1) In general Section 162(m)(2) is amended to read as follows: (2) Publicly held corporation For purposes of this subsection, the term publicly held corporation means any corporation which is an issuer (as defined in section 3 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c ))— (A) the securities of which are required to be registered under section 12 of such Act ( 15 U.S.C. 78l ), or (B) that is required to file reports under section 15(d) of such Act ( 15 U.S.C. 78o(d) ). . (2) Conforming amendment Section 162(m)(3), as amended by