(as determined under paragraph (2) of section 170(b) of such Code) over the amount of all other charitable contributions allowed under such paragraph. (B) Carryover Rules similar to the rules of paragraph (1)(B) shall apply for purposes of this paragraph. (c) Exception to overall limitation on itemized deductions So much of any deduction allowed under section 170 of such Code as does not exceed the qualified contributions paid during the taxable year shall not be treated as an itemized deduction for purposes of section 68 of such Code. (d) Qualified contributions (1) In general For purposes of this section, the term qualified contribution means any charitable contribution (as defined in section 170(c) of such Code)— (A) paid during the period beginning on the applicable disaster date, and ending on August 31, 2017, in cash to an organization described in section 170(b)(1)(A) of such Code (other than an organization described in section 509(a)(3) of such Code), (B) in the case of a contribution paid by a corporation, such contribution is for relief efforts related to the severe storms and flooding giving rise to the Presidential declaration described in section 2(1), and (C) with respect to which the taxpayer has elected the application of this section. (2) Exception Such term shall not include a contribution if the contribution is for establishment of a new, or maintenance in an existing, segregated fund or account with respect to which the donor (or any person appointed or designated by such donor) has, or reasonably expects to have, advisory privileges with respect to distributions or investments by reason of the donor’s status as a donor. (3) Application of election to partnerships and S corporations In the case of a partnership or S corporation, the election under paragraph (1)(C) shall be made separately by each partner or shareholder. 302. Additional exemption for housing Louisiana storm and flood displaced individuals (a) In general In the case of taxable years of a natural person beginning in 2016 or