means the period beginning on the date of the enactment of this Act and ending before January 1, 2021. (3) Applicable date The term applicable date means— (A) December 31, 2021, with respect to 50 percent of the amounts to which subsection (a) or (b), as the case may be, apply, and (B) December 31, 2022, with respect to the remaining such amounts. (d) Trust funds held harmless There are hereby appropriated (out of any money in the Treasury not otherwise appropriated) for each fiscal year to the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund established under section 201 of the Social Security Act ( 42 U.S.C. 401 ) and the Social Security Equivalent Benefit Account established under section 15A(a) of the Railroad Retirement Act of 1974 ( 45 U.S.C. 231n–1(a) ) an amount equal to the reduction in the transfers to such fund for such fiscal year by reason of this section. Amounts appropriated by the preceding sentence shall be transferred from the general fund at such times and in such manner as to replicate to the extent possible the transfers which would have occurred to such Trust Fund had such amendments not been enacted. (e) Regulatory authority The Secretary of the Treasury (or the Secretary's delegate) shall issue such regulations or other guidance as necessary to carry out the purposes of this section. 2203. Modifications for net operating losses (a) Temporary repeal of taxable income limitation (1) In general The first sentence of section 172(a) of the Internal Revenue Code of 1986 is amended by striking an amount equal to and all that follows and inserting an amount equal to— (1) in the case of a taxable year beginning before January 1, 2021, the aggregate of the net operating loss carryovers to such year, plus the net operating loss carrybacks to such year, and (2) in the case of a taxable year beginning after December 31, 2020, the sum of— (A) the aggregate amount of net operating losses arising in taxable years beginning before January 1, 2018, carried