[Congressional Record Volume 171, Number 112 (Saturday, June 28, 2025)]
[Senate]
[Page S3979]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2429. Ms. ROSEN submitted an amendment intended to be proposed to 
amendment SA 2360 proposed by Mr. Thune (for Mr. Graham) to the bill 
H.R. 1, to provide for reconciliation pursuant to title II of H. Con. 
Res. 14; which was ordered to lie on the table; as follows:

       At the appropriate place in title VII, insert the 
     following:

     SEC. _____. EXPANSION OF LOW-INCOME HOUSE TAX CREDIT.

       (a) Inclusion of Rural Areas as Difficult Development Areas 
     for Purposes of Certain Buildings.--
       (1) In general.--Section 42(d)(5)(B)(iii)(I) is amended by 
     inserting before the period the following: ``, and, in the 
     case of buildings placed in service after December 31, 2025, 
     any rural area''.
       (2) Rural area.--Section 42(d)(5)(B)(iii) is amended by 
     redesignating subclause (II) as subclause (III) and by 
     inserting after subclause (I) the following new subclause:

       ``(II) Rural area.--For purposes of subclause (I), the term 
     `rural area' means any rural area (as defined by section 520 
     of the Housing Act of 1949) and any non-metropolitan area.''.

       (3) Effective date.--The amendments made by this subsection 
     shall apply to buildings placed in service after December 31, 
     2025.
       (b) Increase in Corporate Tax Rate.--
       (1) In general.--Section 11(b) is amended to read as 
     follows:
       ``(b) Amount of Tax.--The amount of the tax imposed by 
     subsection (a) shall be the sum of--
       ``(1) 21 percent of so much of the taxable income as does 
     not exceed $100,000,000, and
       ``(2) 28 percent of so much of the taxable income as 
     exceeds $100,000,000.''.
       (2) Effective date.--The amendment made by this subsection 
     shall apply to taxable years beginning after December 31, 
     2025.
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