[Congressional Record (Bound Edition), Volume 147 (2001), Part 7]
[Senate]
[Page 9469]
[From the U.S. Government Publishing Office, www.gpo.gov]



                         RELIEF ACT--H.R. 1836


                     Amendment No. 767, As Modified

  Mr. NICKLES. Mr. President, I ask unanimous consent that the 
previously proposed amendment No. 767 be modified with the language I 
send to the desk and ask further that the Journal and the permanent 
Record reflect this modification.
  The PRESIDING OFFICER (Mr. Bennett). Without objection, it is so 
ordered.
  The amendment (No. 767), as modified, is as follows:

                    Amendment No. 767 (as modified)

       At the end of subtitle A of title VIII add the following:

     SEC. __. EXPANSION OF WORK OPPORTUNITY TAX CREDIT.

       (a) In General.--Section 51(d)(1) (relating to members of 
     targeted groups) is amended by striking ``or'' at the end of 
     subparagraph (G), by striking the period at the end of 
     subparagraph (H) and inserting ``, or'', and by adding at the 
     end the following:
       ``(I) a qualified low-income veteran.''
       (b) Qualified Low-Income Veteran.--Section 51(d) (relating 
     to members of targeted groups) is amended by redesignating 
     paragraphs (10) through (12) as paragraphs (11) through (13), 
     respectively, and by inserting after paragraph (9) the 
     following:
       ``(10) Qualified low-income veteran.--
       ``(A) In general.--The term `qualified low-income veteran' 
     means any veteran whose gross income for the taxable year 
     preceding the taxable year including the hiring date, was 
     below the poverty line (as defined by the Office of 
     Management and Budget) for such preceding taxable year .
       ``(B) Veteran.--The term `veteran' has the meaning given 
     such term by paragraph (3)(B).
       ``(C) Special rules for determining amount of credit.--For 
     purposes of applying this subpart to wages paid or incurred 
     to any qualified low-income veteran--
       ``(i) subsection (a) shall be applied by substituting `50 
     percent of the qualified first-year wages and 25 percent of 
     the qualified second-year wages' for `40 percent of the 
     qualified first year wages', and
       ``(ii) in lieu of paragraphs (2) and (3) of subsection (b), 
     the following definitions and special rule shall apply:

       ``(I) Qualified first-year wages.--The term `qualified 
     first-year wages' means, with respect to any individual, 
     qualified wages attributable to service rendered during the 
     1-year period beginning with the day the individual begins 
     work for the employer.
       ``(II) Qualified second-year wages.--The term `qualified 
     second-year wages' means, with respect to any individual, 
     qualified wages attributable to service rendered during the 
     1-year period beginning on the day after the last day of the 
     1-year period with respect to such individual determined 
     under subclause (I).
       ``(III) Only first $20,000 of wages per year taken into 
     account.--The amount of the qualified first and second year 
     wages which may be taken into account with respect to any 
     individual shall not exceed $20,000 per year.''.

       (c) Permanence of Credit.--Section 51(c)(4) (relating to 
     termination) is amended by inserting ``(except for wages paid 
     to a qualified low-income veteran)'' after ``individual''.
       (d) Effective Date.--The amendments made by this section 
     shall apply to individuals who begin work for the employer 
     after the date of the enactment of this Act.
       On page 9, strike the table between lines 11 and 12 and 
     insert:

------------------------------------------------------------------------
                                          The corresponding percentages
                                           shall be substituted for the
 In the case of taxable years beginning       following percentages:
         during calendar year:          --------------------------------
                                          28%    31%    36%      39.6%
------------------------------------------------------------------------
2002, 2003, and 2004...................    27%    30%    35%      38.60%
2005 and 2006..........................    26%    29%    34%      37.60%
2007 and thereafter....................    25%    28%    33%      36.05%
------------------------------------------------------------------------

                                                              

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