The change reaches work and transfers after this law passed
What the document says“The amendment made by this section shall apply to services performed, and property transferred, after the date of the enactment of this Act.”
The section applies its amendment to services performed and property transferred after the date of enactment. It also provides that nothing in the section creates any inference about the proper treatment under section 707(a) of payments for services performed or property transferred on or before that date.
What the document actually says“The amendment made by this section shall apply to services performed, and property transferred, after the date of the enactment of this Act.”
The change reaches work done after this law passed. It also reaches property moved after that day.
Earlier work and transfers are left out. The law says no view is taken on them. That is stated in its own subsection.
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.