[Congressional Record Volume 163, Number 194 (Wednesday, November 29, 2017)]
[Senate]
[Page S7478]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1648. Mr. BROWN submitted an amendment intended to be proposed by 
him to the bill H.R. 1, to provide for reconciliation pursuant to 
titles II and V of the concurrent resolution on the budget for fiscal 
year 2018; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. ___. EXPANSION OF QUALIFIED ZONE ACADEMY BONDS.

       (a) In General.--
       (1) Construction of a public school facility.--Subparagraph 
     (A) of section 54E(d)(3) is amended by striking 
     ``rehabilitating or repairing'' and inserting ``constructing, 
     rehabilitating, retrofitting, or repairing''.
       (2) Removal of private business contribution requirement.--
     Section 54E is amended--
       (A) in subsection (a)(3)--
       (i) in subparagraph (A), by inserting ``and'' at the end;
       (ii) by striking subparagraph (B); and
       (iii) by redesignating subparagraph (C) as subparagraph 
     (B);
       (B) by striking subsection (b) and redesignating 
     subsections (c) and (d) as subsections (b) and (c), 
     respectively; and
       (C) in paragraph (1) of subsection (b) (as so 
     redesignated)--
       (i) by striking ``and $400,000,0000'' and inserting 
     ``$400,000,000''; and
       (ii) by striking ``and, except as provided'' and all that 
     follows through the period at the end and inserting ``, and 
     $1,400,000,000 for 2018 and each year thereafter.''.
       (3) Effective date.--The amendments made by this subsection 
     shall apply to obligations issued after December 31, 2017.
       (b) Adjustment to Corporate Tax Rate.--
       (1) In general.--Section 11(b), as amended by section 13001 
     of this Act, is amended by striking ``20 percent'' and 
     inserting ``21 percent''.
       (2) Effective date.--The amendments made by this subsection 
     shall apply to taxable years beginning after December 31, 
     2018.
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