and (4)(A)(ii)(II) of section 38(c) of such Code, and (B) shall not be treated as described in section 38(c)(4)(B)(vii) of such Code, as amended by this Act. (d) Temporary override of certain regulations treating debt modifications as exchanges (1) In general For purposes of the Internal Revenue Code of 1986, any modification of a QCDE loan which occurs during the period beginning on March 12, 2020, and ending on December 31, 2022, shall not be treated an exchange of an existing debt instrument for a new debt instrument. (2) QCDE loan For purposes of this subsection, the term QCDE loan means any debt instrument held by a qualified community development entity (as defined in section 45D(c) of the Internal Revenue Code of 1986) to the extent that the borrower is a qualified active low-income community business (as defined in section 45D(d)(2) of such Code).