The changes reach contracts signed in tax years after this law passed
What the document says“The amendments made by this section shall apply to contracts entered into in taxable years beginning after the date of the enactment of this Act.”
The section applies its amendments to contracts entered into in taxable years beginning after the date of enactment.
What the document actually says“The amendments made by this section shall apply to contracts entered into in taxable years beginning after the date of the enactment of this Act.”
The changes reach deals signed in tax years after this law passed. Older deals are left out.
The old rules still hold for them. The date is the day this law passed. It turns on when the deal was signed.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.