allowed under section 164(a)(5). (c) Exception for RICs and REITs The tax imposed by subsection (a) shall not apply to— (1) a regulated investment company to which part I of subchapter M applies, and (2) a real estate investment trust to which part II of subchapter M applies. (d) Special rules (1) Short taxable years The application of this section to taxable years of less than 12 months shall be in accordance with regulations prescribed by the Secretary. (2) Section 15 not to apply Section 15 shall not apply to the tax imposed by this section. (e) Application of tax The tax imposed by this section shall apply to taxable years beginning after the date of the enactment of this subsection and before January 1, 2022. . (2) Conforming amendments (A) Paragraph (2) of section 26(b) of such Code is amended by inserting after subparagraph (A) the following: (B) section 59A (relating to environmental tax), . (B) Section 164(a) of such Code is amended by adding at the end the following: (5) The environmental tax imposed by section 59A. . (C) Section 275(a) of such Code is amended by adding at the end the following: Paragraph (1) shall not apply to the tax imposed by section 59A. . (D) Section 882(a)(1) of such Code is amended by inserting 59A, after 55, . (E) Section 1561(a) of such Code is amended— (i) by striking and at the end of paragraph (2), by striking the period at the end of paragraph (3) and inserting , and , and by inserting after paragraph (3) the following: (4) one $2,000,000 amount for purposes of computing the tax imposed by section 59A.