(2) Qualified Louisiana storm and flood disaster area repair or reconstruction For purposes of subparagraph (A), the term qualified Louisiana storm and flood disaster area repair or reconstruction means any repair of damage caused by the severe storms and flooding giving rise to the Presidential declaration described in section 2(1) (or reconstruction of such building in the case of damage constituting destruction) if the expenditures for such repair or reconstruction are 25 percent or more of the mortgagor’s adjusted basis in the residence. For purposes of the preceding sentence, the mortgagor's adjusted basis shall be determined as of the completion of the repair or reconstruction or, if later, the date on which the mortgagor acquires the residence. (3) Termination This paragraph shall apply only to owner-financing provided after the date of the enactment of this subsection and before January 1, 2023. 411. Expensing for certain demolition and clean-up costs (a) In general A taxpayer may elect to treat 50 percent of any qualified Louisiana storm and flood disaster area clean-up cost as an expense which is not chargeable to capital account. Any cost so treated shall be allowed as a deduction for the taxable year in which such cost is paid or incurred. (b) Qualified Louisiana storm and flood disaster area clean-Up cost For purposes of this subsection, the term qualified Louisiana storm and flood disaster area clean-up cost means any amount paid or incurred during the period beginning on the applicable disaster date, and ending on December 31, 2018, for the removal of debris from, or the demolition of structures on, real property which is located in the Louisiana storm and flood disaster area and which is— (1) held by the taxpayer for use in a trade or business or for the production of income, or (2) property described in section 1221(a)(1) in the hands of the taxpayer. For purposes of the preceding sentence, amounts paid or incurred shall be taken into account only to the extent that such amount would (but for