the following new item: Sec. 139H. Contributions to and distributions from AO accounts. . (2) The table of parts for subchapter F of chapter 1 of such Code is amended by adding at the end the following new item: Part IX—American Opportunity Fund and AO accounts . (d) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2018. II Revenue provisions A Estate and gift tax provisions 201. Modification of estate tax rate and basic exclusion amount (a) Permanent extension of maximum estate tax rate and basic exclusion amount as in effect in 2009 (1) Maximum estate tax rate The last row of the table contained in subsection (c) of section 2001 of the Internal Revenue Code of 1986 is amended by striking 40 percent and inserting 45 percent . (2) Basic exclusion amount Paragraph (3) of section 2010(c) of the Internal Revenue Code of 1986 is amended to read as follows: (3) Basic exclusion amount For purposes of this subsection, the basic exclusion amount is $3,500,000. . (b) Additional taxes for estates over $10,000,000 The table contained in section 2001(c), as amended by subsection (a), is amended— (1) by inserting but not over $10,000,000 after Over $1,000,000 in the last row