contributing less than the percentage applicable to an eligible employee in the first year of eligibility is treated as being in such first year of eligibility in each applicable year with respect to the employee. (2) Election out The election treated as having been made under paragraph (1) shall cease to apply with respect to any employee if such employee makes an affirmative election— (A) to not have such contributions made, or (B) to make elective contributions at a level specified in such affirmative election. (3) Applicable year every third year (A) In general For purposes of this section, the term applicable year means, with respect to an employee, such employee’s first plan year of eligibility under the arrangement, and all subsequent plan years of eligibility. (B) Exception Following any applicable year of an employee (determined after the application of this subparagraph), the plan may elect to treat the next 1 or 2 plan years as not being applicable years with respect to such employee. . (b) Credit To be part of general business credit Subsection (b) of section 38, as amended by this Act, is further amended by striking plus at the end of paragraph (32), by striking the period at the end of paragraph (33) and inserting , plus , and by adding at the end the following new paragraph: (34) in the case of an eligible employer (as defined in section 45U(c)), the retirement re-enrollment credit determined under section 45U(a). . (c) Clerical amendment The table of sections for subpart D of part IV of subchapter A of chapter 1 is amended by inserting after the item relating to section 45T the following new item: Sec. 45U. Credit for re-enrollment provisions in plans provided by small employers. . (d) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2018. 113. Treatment of student loan payments as elective deferrals for purposes of matching contributions (a) In general Subparagraph (A) of section 401(m)(4) is amended by striking and at the end of clause