giving rise to the Presidential declaration described in section 2(1). (iii) Any deduction allowable under this chapter for expenses paid or incurred on or after the applicable disaster date, and before January 1, 2019, to temporarily house any employee of the taxpayer whose principal place of employment is in the Louisiana storm and flood disaster area. (iv) Any deduction for depreciation (or amortization in lieu of depreciation) allowable under this chapter with respect to any qualified Louisiana storm and flood disaster area property for the taxable year such property is placed in service. (v) Any deduction allowable under this chapter for repair expenses (including expenses for removal of debris) paid or incurred on or after the applicable disaster date, and before January 1, 2019, with respect to any damage attributable to the severe storms and flooding giving rise to the Presidential declaration described in section 2(1) and in connection with property which is located in the Louisiana storm and flood disaster area. (2) Qualified Louisiana storm and flood disaster area property For purposes of this subsection— (A) In general The term qualified Louisiana storm and flood disaster area property means property— (i) (I) which is described in section 168(k)(2)(A)(i) of the Internal Revenue Code of 1986, or (II) which is nonresidential real property or residential rental property, (ii) substantially all of the use of which is in the Louisiana storm and flood disaster area and is in the active conduct of a trade or business by the taxpayer in such area, (iii) the original use of which in the Louisiana storm and flood disaster area commences with the taxpayer on or after the applicable disaster date, (iv) which is acquired by the taxpayer by purchase (as defined in section 179(d) of such Code) on or after the applicable disaster date, but only if no written binding contract for the acquisition was in effect before the applicable disaster date, and (v) which is placed in service by the taxpayer on or before December