to property placed in service after December 31, 2011, with respect to disasters declared after such date. 107. Increase in new markets tax credit for investments in community development entities serving 2012, 2013, 2014, and 2015 disaster areas (a) In general Subsection (f) of section 45D of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (4) Increased special allocation for community development entities serving disaster areas with respect to disasters occurring in any of calendar years 2012 through 2015 (A) In general In the case of each calendar year which begins after 2012 and before 2017, the new markets tax credit limitation shall be increased by an amount equal to $500,000,000, to be allocated among qualified community development entities to make qualified low-income community investments within any covered federally declared disaster area. (B) Allocation of increase The amount of the increase in limitation under subparagraph (A) shall be allocated by the Secretary under paragraph (2) to qualified community development entities and shall give priority to such entities with a record of having successfully provided capital or technical assistance to businesses or communities within any covered federally declared disaster area or areas for which the allocation is requested. (C) Application of carryforward Paragraph (3) shall be applied separately with respect to the amount of any increase under subparagraph (A). (D) Covered federally declared disaster area For purposes of this paragraph, the term covered federally declared disaster area means any disaster area resulting from any federally declared disaster occurring after December 31, 2011, and before January 1, 2016. For purposes of the preceding sentence, the terms federally declared disaster and disaster area have the meanings given such terms in section 165(i)(5). . (b) Effective date The amendments made by this section shall apply to calendar years beginning after 2012. 108. Special rules for use of