following: For purposes of the preceding sentence, the term losses from wagering transactions includes any deduction otherwise allowable under this chapter incurred in carrying on any wagering transaction. . (b) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2017. 1306. Charitable contributions (a) Increased limitation for cash contributions Section 170(b)(1) is amended by redesignating subparagraph (G) as subparagraph (H) and by inserting after subparagraph (F) the following new subparagraph: (G) Increased limitation for cash contributions (i) In general In the case of any contribution of cash to an organization described in subparagraph (A), the total amount of such contributions which may be taken into account under subsection (a) for any taxable year shall not exceed 60 percent of the taxpayer’s contribution base for such year. (ii) Carryover If the aggregate amount of contributions described in clause (i) exceeds the applicable limitation under clause (i), such excess shall be treated (in a manner consistent with the rules of subsection (d)(1)) as a charitable contribution to which clause (i) applies in each of the 5 succeeding years in order of time. (iii) Coordination with subparagraphs (A) and (B) (I) In general Contributions taken into account under this subparagraph shall not be taken into account under subparagraph (A). (II) Limitation reduction Subparagraphs (A) and (B) shall be applied by reducing (but not below zero) the aggregate contribution limitation allowed for the taxable year under each such subparagraph by the aggregate contributions allowed under this subparagraph for such taxable year. . (b) Denial of deduction for college athletic event seating rights Section 170(l)(1) is amended to read as follows: (1) In general No deduction shall be allowed under this section for any amount described in paragraph (2). . (c) Charitable mileage rate adjusted for inflation Section 170(i) is amended by striking shall be 14 cents per mile and