account of a federally declared disaster occurring during the period beginning— (i) after December 31, 2007, and before January 1, 2010, or (ii) after December 31, 2011, and before January 1, 2016, (B) for the removal of debris from, or the demolition of structures on, real property which is business-related property damaged or destroyed as a result of a federally declared disaster occurring during any such period, or (C) for the repair of business-related property damaged as a result of a federally declared disaster occurring during any such period, and (3) which is otherwise chargeable to capital account. (c) Other definitions For purposes of this section— (1) Business-related property The term business-related property means property— (A) held by the taxpayer for use in a trade or business or for the production of income, or (B) described in section 1221(a)(1) in the hands of the taxpayer. (2) Federally declared disaster The term federally declared disaster has the meaning given such term by section 165(i)(5)(A). (d) Deduction recaptured as ordinary income on sale, etc Solely for purposes of section 1245, in the case of property to which a qualified disaster expense would have been capitalized but for this section— (1) the deduction allowed by this section for such expense shall be treated as a deduction for depreciation, and (2) such property (if not otherwise section 1245 property) shall be treated as section 1245 property solely for purposes of applying section 1245 to such deduction. (e) Coordination with other provisions Sections 198, 280B, and 468 shall not apply to amounts which are treated as expenses under this section. (f) Regulations The Secretary shall prescribe such regulations as may be necessary or appropriate to carry out the purposes of this section. . (b) Clerical amendment The table of sections for part VI of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 198 the following item: Sec. 198A. Expensing of qualified