striking the item relating to such section in the table of sections for such part). (b) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2017. I Compensation 3801. Modification of limitation on excessive employee remuneration (a) Repeal of performance-based compensation and commission exceptions for limitation on excessive employee remuneration (1) In general Section 162(m)(4) is amended by striking subparagraphs (B) and (C) and by redesignating subparagraphs (D), (E), (F), and (G) as subparagraphs (B), (C), (D), and (E), respectively. (2) Conforming amendments (A) Paragraphs (5)(E) and (6)(D) of section 162(m) are each amended by striking subparagraphs (B), (C), and (D) and inserting subparagraph (B) . (B) Paragraphs (5)(G) and (6)(G) of section 162(m) are each amended by striking (F) and (G) and inserting (D) and (E) . (b) Expansion of applicable employer Section 162(m)(2) is amended to read as follows: (2) Publicly held corporation For purposes of this subsection, the term publicly held corporation means any corporation which is an issuer (as defined in section 3 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c ))— (A) the securities of which are required to be registered under section 12 of such Act ( 15 U.S.C. 78l ), or (B) that is required to file reports under section 15(d) of such Act ( 15 U.S.C. 78o(d) ). . (c) Modification of definition of covered employees Section 162(m)(3) is amended— (1) in subparagraph (A), by striking as of the close of the taxable year, such employee is the chief executive officer of the taxpayer or is and inserting such employee is the principal executive officer or principal financial officer of the taxpayer at any time during the taxable year, or was , (2) in subparagraph (B)— (A) by striking 4 and inserting 3 , and (B) by striking (other than the chief executive officer) and inserting (other than the principal executive officer or principal financial officer) , and (3) by striking or at the end of subparagraph