172(c)) for the taxable year which is attributable to deductions arising from— (A) losses in a community economic assistance zone, (B) expenses paid or incurred within a community economic assistance zone, and (C) expenses paid or incurred with respect to property placed in service in a community economic assistance zone, during either the taxable year in which the designation of such zone goes into effect under section 1397G or the immediately succeeding taxable year, whichever is elected by the taxpayer. (3) Excepted taxpayers Paragraph (1) shall not apply in the case of an excepted taxpayer described in subsection (g). (e) Credit to holders of community economic support bonds (1) In general With respect to a taxpayer holding a community economic support bond, such bond shall be treated in the same manner as a Gulf tax credit bond under section 1400N(l), applied— (A) by substituting community economic support bond for Gulf tax credit bond each place it appears in paragraphs (1), (2), (3), and (7) thereof, and (B) without regard to paragraphs (4) and (5) thereof. (2) Community economic support bond For purposes of this subsection— (A) In general The term community economic support bond means any bond issued as part of an issue if— (i) the bond is issued by a State in which a community economic assistance area (as defined in section 45D(f)(3)(B)) is located, (ii) 95 percent or more of the proceeds of such issue are to be used in accordance with the priorities outlined in the community economic development plan approved under section 6 of the Community Economic Assistance Act of 2017 to implement the strategies and objectives under such plan described in section 6(3) of such Act, (iii) the Governor of such State designates such bond for purposes of this subsection, (iv) the bond is a general obligation of such State and is in registered form (within the meaning of section 149(a)), (v) the maturity of such bond does not exceed 15 years, and (vi) the bond is issued after the designation of such zone goes into