interests held in connection with performance of services. Sec. 1062. Cross references. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2017. V Business credits A General provisions 13401. Modification of orphan drug credit (a) Credit rate Subsection (a) of section 45C is amended by striking 50 percent and inserting 27.5 percent . (b) Disclosure of credits Section 45C is amended by adding at the end the following new subsection: (e) Disclosure of credits The Secretary shall publicly disclose the identity of any taxpayer (in the case of a pass-thru entity, the name of the entity) to whom a credit is allowed under this section, as well as the amount of such credit, the drug with respect to which the qualified clinical testing expenses were taken into account under this section, and the rare disease or condition for which such drug was being tested. . (c) Election of reduced credit Subsection (b) of section 280C is amended by redesignating paragraph (3) as paragraph (4) and by inserting after paragraph (2) the following new paragraph: (3) Election of reduced credit (A) In general In the case of any taxable year for which an election is made under this paragraph— (i) paragraphs (1) and (2) shall not apply, and (ii) the amount of the credit under section 45C(a) shall be the amount determined under subparagraph (B). (B) Amount of reduced credit The amount of credit determined under this subparagraph for any taxable year shall be the amount equal to the excess of— (i) the amount of credit determined under section 45C(a) without regard to this paragraph, over (ii) the product of— (I) the amount described in clause (i), and (II) the maximum rate of tax under section 11(b). (C) Election An election under this paragraph for any taxable year shall be made not later than the time for filing the return of tax for such year (including extensions), shall be made on such return, and shall be made in such manner as the Secretary shall prescribe. Such an election,