as a deduction on a first-in, first-out basis. . (c) Treatment of carryforward of disallowed business interest in certain corporate acquisitions (1) In general Section 381(c) is amended by inserting after paragraph (19) the following new paragraph: (20) Carryforward of disallowed interest The carryover of disallowed interest described in section 163(o) to taxable years ending after the date of distribution or transfer. . (2) Application of limitation Section 382(d) is amended by adding at the end the following new paragraph: (3) Application to carryforward of disallowed interest The term pre-change loss shall include any carryover of disallowed interest described in section 163(o) under rules similar to the rules of paragraph (1). . (3) Conforming amendment Section 382(k)(1) is amended by inserting after the first sentence the following: Such term shall include any corporation entitled to use a carryforward of disallowed interest described in section 381(c)(20). (d) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2017. 3302. Modification of net operating loss deduction (a) Indefinite carryforward of net operating losses Section 172(b)(1)(A)(ii) is amended by striking to each of the 20 taxable years and inserting to each taxable year . (b) Repeal of net operating loss carrybacks other than 1-year carryback of eligible disaster losses (1) In general Section 172(b)(1)(A)(i) is amended to read as follows: (i) in the case of any portion of a net operating loss for the taxable year which is an eligible disaster loss with respect to the taxpayer, shall be a net operating loss carryback to the taxable year preceding the taxable year of such loss, and . (2) Conforming amendments (A) Section 172(b)(1) is amended by striking subparagraphs (B) through (F) and inserting the following: (B) Eligible disaster loss (i) In general For purposes of subparagraph (A)(i), the term eligible disaster loss means— (I) in the case of a taxpayer which is a small business, net