; refinancings (i) In general In the case of any indebtedness incurred on or before December 15, 2017, subparagraph (B)(ii) shall apply as in effect immediately before the enactment of the Public Law 115–97 , and, in applying such subparagraph to any indebtedness incurred after such date, the limitation under such subparagraph shall be reduced (but not below zero) by the amount of any indebtedness incurred on or before December 15, 2017, which is treated as acquisition indebtedness for purposes of this subsection for the taxable year. (ii) Binding contract exception In the case of a taxpayer who enters into a written binding contract before December 15, 2017, to close on the purchase of a principal residence before January 1, 2018, and who purchases such residence before April 1, 2018, subclause (III) shall be applied by substituting April 1, 2018 for December 15, 2017 . (iii) Treatment of refinancings of indebtedness (I) In general In the case of any indebtedness which is incurred to refinance indebtedness, such refinanced indebtedness shall be treated for purposes of clause (i) as incurred on the date that the original indebtedness was incurred to the extent the amount of the indebtedness resulting from such refinancing does not exceed the amount of the refinanced indebtedness. (II) Limitation on period of refinancing Subclause (I) shall not apply to any indebtedness after the expiration of the term of the original indebtedness or, if the principal of such original indebtedness is not amortized over its term, the expiration of the term of the 1st refinancing of such indebtedness (or if earlier, the date which is 30 years after the date of such 1st refinancing). . (c) Coordination with exclusion of income from discharge of indebtedness Section 108(h)(2) of the Internal Revenue Code of 1986 is amended by striking $1,000,000 ($500,000 and inserting $750,000 ($375,000 . (d) Conforming amendments Section 163(h)(3) of the Internal Revenue Code of 1986 is amended— (1) in the heading of subparagraph (D)(ii), by