Act of 1936) that meets the minimum acceptable level for such service (as established by the Secretary of Agriculture pursuant to section 601(e) of the Rural Electrification Act of 1936). (4) Qualified rural census tract The term qualified rural census tract means a census tract designated not later than December 31, 2018, by the Secretary (in consultation with the Chairman of the Federal Communications Commission, the Assistant Secretary of Commerce for Communications and Information who is head of the National Telecommunications and Information Administration, and the Secretary of Agriculture) as— (A) being rural, and (B) having less than 50 percent of residents with access to broadband service. (d) Carryover of certain amounts If, for the taxable year, the amount which (but for subsection (b)) would have been taken into account under subsection (a) exceeds the limitation of subsection (b), then the amount of such excess shall be taken into account under subsection (a) for the succeeding taxable year. (e) Termination This section shall not apply to property placed in service after December 31, 2028. . (b) Conforming amendment Section 46 is amended by striking and at the end of paragraph (5), by striking the period at the end of paragraph (6) and inserting , and , and by adding at the end the following new paragraph: (7) the rural broadband credit. . (c) Clerical amendment The table of sections for subpart E of part IV of subchapter A of chapter 1 is amended by adding at the end the following new item: Sec. 48E. Rural broadband credit. . (d) Effective date The amendments made by this section shall apply to property placed in service after December 31, 2018.