depreciation each place it appears in the text and headings thereof and inserting 50-percent expensing . (2) Other conforming amendments (A) Section 168(l)(3)(B) is amended by striking subsection (k)(2)(D) and inserting subsection (k)(2)(B) . (B) Section 168(l)(4) is amended by striking subsection (k)(2)(E) and inserting subsection (k)(2)(C) . (C) Section 168(l)(5) is amended by striking subsection (k)(2)(G) and inserting subsection (k)(2)(E) . (D) Section 460(c)(6)(B) is amended by striking which— and all that follows and inserting which has a recovery period of 7 years or less. . (c) Effective dates (1) In general The amendments made by this section shall apply to property placed in service after December 31, 2017, in taxable years ending after such date. (2) Certain technical corrections (A) The amendments made by subsection (b)(1)(B)(ii) shall apply to specified plants planted or grafted after December 31, 2015. (B) The amendment made by subsection (b)(1)(D) shall apply to property placed in service after December 31, 2015, in taxable years ending after such date. 312. Modifications of treatment of certain farm property (a) Treatment of certain farm property as 5-Year property Clause (vii) of section 168(e)(3)(B) is amended by striking after December 31, 2008, and which is placed in service before January 1, 2010 . (b) Repeal of required use of 150-Percent declining balance method Section 168(b)(2) is amended by striking subparagraph (B) and by redesignating subparagraphs (C) and (D) as subparagraphs (B) and (C), respectively. (c) Effective date The amendments made by this section shall apply to property placed in service after December 31, 2017, in taxable years ending after such date. 313. Secretarial requirement to reexamine economic depreciation for classes of depreciable property (a) In general Paragraph (1) of section 168(i) is amended to read as follows: (1) Class life (A) In general Except as provided in this section, the term class life means the class life (if any) which would be applicable with