as an employee. . (3) Section 461(l)(3) of such Code is amended by redesignating subparagraph (B) as subparagraph (C) and by inserting after subparagraph (A) the following new subparagraph: (B) Treatment of capital gains and losses (i) Losses Deductions for losses from sales or exchanges of capital assets shall not be taken into account under subparagraph (A)(i). (ii) Gains The amount of gains from sales or exchanges of capital assets taken into account under subparagraph (A)(ii) shall not exceed the lesser of— (I) the capital gain net income determined by taking into account only gains and losses attributable to a trade or business, or (II) the capital gain net income. . (c) Effective dates (1) In general The amendments made by subsection (a) shall apply to taxable years beginning after December 31, 2017. (2) Technical amendments The amendments made by subsection (b) shall take effect as if included in the provisions of Public Law 115–97 to which they relate. 2205. Modification of credit for prior year minimum tax liability of corporations (a) In general Section 53(e) of the Internal Revenue Code of 1986 is amended to read as follows: (e) Credit treated as refundable for certain taxpayers In the case of the first taxable year of a corporation beginning in 2018— (1) subsection (c) shall not apply, and (2) for purposes of this title (other than this section), the credit allowed by reason of this subsection shall be treated as allowed under subpart C (and not this subpart). . (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2017. 2206. Modification of limitation on business interest (a) In general Section 163(j) of the Internal Revenue Code of 1986 is amended by redesignating paragraph (10) as paragraph (11) and by inserting after paragraph (9) the following new paragraph: (10) Special rule for taxable years beginning in 2019 and 2020 (A) In general In the case of any taxable year beginning in 2019 or 2020, paragraph (1)(B) shall be applied by