purposes of this paragraph and subsection (c), any term used in this paragraph which is also used in part IV of subchapter E shall have the same meaning as when used in such part. . (b) Modification of special rule for investments held 10 years Section 1400Z–2(c) is amended by striking shall be equal to and all that follows and inserting shall be equal to— (1) in the case of any taxpayer who is an applicable taxpayer for any taxable year during which such investment was held by the taxpayer or any taxpayer which is an applicable entity, the lesser of— (A) the fair market value of such investment as of the last day of the taxable year which includes the later of— (i) the date that such investment has been held for 10 years, or (ii) in the case of— (I) an applicable taxpayer, the date that such taxpayer first became an applicable taxpayer, or (II) an applicable entity, the first date a notice was received by the entity under subsection (b)(2)(A) or (c)(2) of section 493, or (B) the fair market value of such investment on the date that investment is sold or exchanged, and (2) in the case of any other taxpayer, the fair market value of such investment on the date the investment is sold or exchanged. . (c) Effective date The amendments made by this section shall apply to sales or exchanges after November 30, 2023, in taxable years ending after such date.