allocation under subsection (f)(2) thereof of the increase in the new markets tax credit limitation described in paragraph (2) only if a significant mission of such entity is the recovery and redevelopment of the Louisiana storm and flood disaster area, (2) the new markets tax credit limitation otherwise determined under subsection (f)(1) thereof shall be increased by an amount equal to— (A) $300,000,000 for 2016 and 2017, to be allocated among qualified community development entities to make qualified low-income community investments within the Louisiana storm and flood disaster area, and (B) $400,000,000 for 2018, to be so allocated, and (3) subsection (f)(3) thereof shall be applied separately with respect to the amount of the increase under paragraph (2). 410. Tax-exempt bond financing (a) In general For purposes of the Internal Revenue Code of 1986— (1) any qualified Louisiana storm and flood disaster area bond described in paragraph (2)(A)(i) shall be treated as an exempt facility bond, and (2) any qualified Louisiana storm and flood disaster area bond described in paragraph (2)(A)(ii) shall be treated as a qualified mortgage bond. (b) Qualified Louisiana storm and flood disaster area bond For purposes of this subsection, the term qualified Louisiana storm and flood disaster area bond means any bond issued as part of an issue if— (1) (A) 95 percent or more of the net proceeds (as defined in section 150(a)(3) of such Code) of such issue are to be used for qualified project costs, or (B) such issue meets the requirements of a qualified mortgage issue, except as otherwise provided in this subsection, (2) such bond is issued by Louisiana, or any political subdivision thereof, (3) such bond is designated for purposes of this section by— (A) in the case of a bond which is required under State law to be approved by the bond commission of Louisiana, such bond commission, and (B) in the case of any other bond, the Governor of Louisiana, (4) such bond is issued after the date of the enactment of this section and