(a) In general Section 965 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: (g) Temporary extension and modification (1) In general In the case of an election under this subsection, subsection (f)(1) shall be applied by substituting the date of the enactment of subsection (g) for the date of the enactment of this section . (2) Percentage deductible In the case of an election under this subsection, subsection (a)(1) shall be applied by substituting 100 percent for 85 percent . (3) Requirement to invest in bonds In the case of an election under this subsection— (A) subsection (b)(4) shall not apply, and (B) subsection (a) shall only apply to so much of the portion dividends received by a United States shareholder during the taxable year as does not exceed the amount paid by the shareholder during such taxable year for bonds issued under section 4(b)(2) of the Infrastructure Bank for America Act of 2017. (4) Special rules (A) Recapture in case of bonds sold during recapture period The Secretary shall, by regulations, provide for recapturing the applicable percentage of the benefit under any deduction allowable by this subsection if before the end of the 10-year period beginning on the date of the purchase of the bond to which this subsection applies the taxpayer disposes of such bond. (B) Applicable percentage For purposes of this paragraph, the applicable percentage shall be determined under the following table: In the case of a disposition   in the following year of The applicable  such 10-year period: percentage shall be: First year 100 percent Second year 90 percent Third year 80 percent Fourth year 70 percent Fifth year 60 percent Sixth year 50 percent Seventh year 40 percent Eighth year 30 percent Ninth year 20 percent Tenth year 10 percent. . (b) Conforming amendment (1) Section 965 of such Code is amended by striking June 30, 2003 each place it occurs and inserting June 30, 2016 . (2) Subparagraph (B) of section 965(b)(3) of such Code is amended by striking