[Congressional Record Volume 163, Number 196 (Friday, December 1, 2017)]
[Senate]
[Page S7722]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
SA 1812. Ms. MURKOWSKI submitted an amendment intended to be proposed
to amendment SA 1618 proposed by Mr. McConnell (for Mr. Hatch (for
himself and Ms. Murkowski)) 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 in title I, insert the following:
SEC. 1___. EXTENSION OF AMERICAN SAMOA ECONOMIC DEVELOPMENT
CREDIT.
(a) In General.--Section 119(d) of division A of the Tax
Relief and Health Care Act of 2006 is amended--
(1) by striking ``January 1, 2017'' each place it appears
and inserting ``January 1, 2023'',
(2) by striking ``first 11 taxable years'' in paragraph (1)
and inserting ``first 17 taxable years'', and
(3) by striking ``first 5 taxable years'' in paragraph (2)
and inserting ``first 11 taxable years''.
(b) Treatment of Certain References.--Section 119(e) of
division A of the Tax Relief and Health Care Act of 2006 is
amended by adding at the end the following: ``References in
this subsection to section 199 of the Internal Revenue Code
of 1986 shall be treated as references to such section as in
effect before its repeal by the Tax Cuts and Jobs Act.''.
(c) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2016.
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