to each of the 5 taxable years preceding the taxable year of such loss. . (b) Rules relating to qualified disaster losses Section 172 of the Internal Revenue Code of 1986 is amended by redesignating subsection (i) as subsection (j) and by inserting after subsection (h) the following: (i) Rules relating to qualified disaster losses For purposes of this section— (1) In general The term qualified disaster loss means the lesser of— (A) the sum of— (i) the losses allowable under section 165 for the taxable year— (I) attributable to a federally declared disaster (as defined in section 165(i)(5)(A)) occurring during the period beginning after December 31, 2007, and before January 1, 2010, or during the period beginning after December 31, 2011, and before January 1, 2016, and (II) occurring in a disaster area (as defined in section 165(i)(5)(B)), and (ii) the deduction for the taxable year for qualified disaster expenses which is allowable under section 198A(a) or which would be so allowable if not otherwise treated as an expense, or (B) the net operating loss for such taxable year. (2) Coordination with subsection (b)(2) For purposes of applying subsection (b)(2), a qualified disaster loss for any taxable year shall be treated in a manner similar to the manner in which a specified liability loss is treated. (3) Election Any taxpayer entitled to a 5-year carryback under subsection (b)(1)(G) from any loss year may elect to have the carryback period with respect to such loss year determined without regard to subsection (b)(1)(G). Such election shall be made in such manner as may be prescribed by the Secretary and shall be made by the due date (including extensions of time) for filing the taxpayer’s return for the taxable year of the net operating loss. Such election, once made for any taxable year, shall be irrevocable for such taxable year. (4) Exclusion The term qualified disaster loss shall not include any loss with respect to any property described in section 1400N(p)(3). . (c) Effective date The amendments made by