[Congressional Record (Bound Edition), Volume 150 (2004), Part 3]
[Senate]
[Pages 4005-4023]
[From the U.S. Government Publishing Office, www.gpo.gov]



  SA 2724. Mr. NELSON of Florida submitted an amendment intended to be 
proposed by him to the concurrent resolution S. Con. Res. 95, setting 
forth the congressional budget for the United States Government for 
fiscal year 2005 and including the appropriate budgetary levels for 
fiscal years 2006 through 2009; which was ordered to lie on the table; 
as follows:

       On page 3, line 9, increase the amount by $3,240,000,000.
       On page 3, line 10, increase the amount by $324,000,000.
       On page 3, line 11, increase the amount by $14,000,000.
       On page 3, line 12, increase the amount by $4,000,000.
       On page 3, line 17, increase the amount by $3,240,000,000.
       On page 3, line 18, increase the amount by $324,000,000.
       On page 3, line 19, increase the amount by $14,000,000.
       On page 3, line 20, increase the amount by $4,000,000.
       On page 4, line 20, increase the amount by $3,240,000,000.
       On page 4, line 21, increase the amount by $324,000,000.
       On page 4, line 22, increase the amount by $14,000,000.
       On page 4, line 23, increase the amount by $4,000,000.
       On page 5, line 3, decrease the amount by $3,240,000,000.
       On page 5, line 4, decrease the amount by $3,564,000,000.
       On page 5, line 5, decrease the amount by $3,578,000,000.
       On page 5, line 6, decrease the amount by $3,582,000,000.
       On page 5, line 7, decrease the amount by $3,582,000,000.
       On page 5, line 11, decrease the amount by $3,240,000,000.
       On page 5, line 12, decrease the amount by $3,564,000,000.
       On page 5, line 13, decrease the amount by $3,578,000,000.
       On page 5, line 14, decrease the amount by $3,582,000,000.
       On page 5, line 15, decrease the amount by $3,582,000,000.
       At the end of Title III, insert the following:

     SEC.  . RESERVE FUND FOR VETERANS' MEDICAL CARE.

       The Chairman of the Committee on the Budget of the Senate 
     shall revise the aggregates, functional totals, allocations 
     to the Committee on Appropriations of the Senate, 
     discretionary spending limits, and other appropriate levels 
     and limits in this resolution by up to $1,800,000,000 in 
     budget authority for fiscal year 2005, and by the amount of 
     outlays flowing therefrom in 2005 and subsequent years, for a 
     bill, joint resolution, motion, amendment, or conference 
     report that provides additional fiscal year 2005 
     discretionary appropriations, in excess of levels provided in 
     this resolution, for veterans' medical programs, included in 
     this resolution for the Department of Veterans Affairs.
                                 ______
                                 
  SA 2725. Mr. KENNEDY (for himself, Mr. Dodd, Mrs. Clinton, Mr. 
Corzine, Ms. Stabenow, Mr. Lautenberg, Mr. Schumer, Mr. Reed, Ms. 
Mikulski, Mr. Kohl, Mrs. Lincoln, Mr. Levin, Mr. Lieberman, and Mr. 
Reid) submitted an amendment intended to be proposed by him to the 
concurrent resolution S. Con. Res. 95, setting forth the congressional 
budget for the United States Government for fiscal year 2005 and 
including the appropriate budgetary levels for fiscal years 2006 
through 2009; which was ordered to lie on the table; as follows:

       On page 3, line 9, increase the amount by $2,352,000,000.
       On page 3, line 10, increase the amount by $7,253,000,000.
       On page 3, line 11, increase the amount by $196,000,000.
       On page 3, line 17, increase the amount by $2,352,000,000.
       On page 3, line 18, increase the amount by $7,253,000,000.
       On page 3, line 19, increase the amount by $196,000,000.
       On page 4, line 20, increase the amount by $2,352,000,000.
       On page 4, line 21, increase the amount by $7,253,000,000.
       On page 4, line 22, increase the amount by $196,000,000.
       On page 5, line 3, decrease the amount by $2,352,000,000.
       On page 5, line 4, decrease the amount by $9,606,000,000.
       On page 5, line 5, decrease the amount by $9,802,000,000.
       On page 5, line 6, decrease the amount by $9,802,000,000.
       On page 5, line 7, decrease the amount by $9,802,000,000.
       On page 5, line 11, decrease the amount by $2,352,000,000.
       On page 5, line 12, decrease the amount by $9,606,000,000.
       On page 5, line 13, decrease the amount by $9,802,000,000.
       On page 5, line 14, decrease the amount by $9,802,000,000.
       On page 5, line 15, decrease the amount by $9,802,000,000.
       At the end of Title III, insert the following:

     SEC. ___. RESERVE FUND FOR THE PELL GRANT PROGRAM.

       The Chairman of the Committee on the Budget of the Senate 
     shall revise the aggregates, functional totals, allocations 
     to the Committee on Appropriations of the Senate, 
     discretionary spending limits, and other appropriate levels 
     and limits in this resolution by up to $4,900,000,000 in 
     budget authority for fiscal year 2005, and by the amount of 
     outlays flowing therefrom in 2005 and subsequent years, for a 
     bill, joint resolution, motion, amendment, or conference 
     report that provides additional fiscal year 2005 
     discretionary appropriations, in excess of levels provided in 
     this resolution, for the Pell Grant program.
                                 ______
                                 
  SA 2726. Mr. BIDEN (for himself, Mr. Leahy, Mrs. Feinstein, Mr. 
Schumer, Mr. Kennedy, Mr. Sarbanes, Mr. Rockefeller, Mr. Corzine, Ms. 
Stabenow, Mr. Harkin, Mrs. Boxer, Mr. Durbin, Mr. Kohl, and Mr. Dodd) 
submitted an amendment intended to be proposed by him to the concurrent 
resolution S. Con. Res. 95, setting forth the congressional budget for 
the United States Government for fiscal year 2005 and including the 
appropriate budgetary levels for fiscal years 2006 through 2009; which 
was ordered to lie on the table; as follows:

       On page 3, line 9, increase the amount by $300,000,000.
       On page 3, line 10, increase the amount by $572,000,000.
       On page 3, line 11 , increase the amount by $470,000,000.
       On page 3, line 12 , increase the amount by $580,000,000.
       On page 3, line 13 , increase the amount by $78,000,000.
       On page 3, line 17, increase the amount by $300,000,000.
       On page 3, line 18, increase the amount by $572,000,000.
       On page 3, line 19, increase the amount by $470,000,000.
       On page 3, line 20, increase the amount by $580,000,000.
       On page 3, line 21, increase the amount by $78,000,000.
       On page 4, line 4, increase the amount by $1,000,000,000.
       On page 4, line 12, increase the amount by $150,000,000.
       On page 4, line 13, increase the amount by $286,000,000.
       On page 4, line 14, increase the amount by $235,000,000.
       On page 4, line 15, increase the amount by $290,000,000.
       On page 4, line 16, increase the amount by $39,000,000.
       On page 4, line 20, increase the amount by $150,000,000.
       On page 4, line 21, increase the amount by $286,000,000.
       On page 4, line 22, increase the amount by $235,000,000.
       On page 4, line 23, increase the amount by $290,000,000.
       On page 4, line 24, increase the amount by $39,000,000.
       On page 5, line 3, decrease the amount by $150,000,000.
       On page 5, line 4, decrease the amount by $436,000,000.
       On page 5, line 5, decrease the amount by $671,000,000.
       On page 5, line 6, decrease the amount by $961,000,000.
       On page 5, line 7, decrease the amount by $1,000,000,000.
       On page 5, line 11, decrease the amount by $150,000,000.
       On page 5, line 12, decrease the amount by $436,000,000.
       On page 5, line 13, decrease the amount by $671,000,000.
       On page 5, line 14, decrease the amount by $961,000,000.
       On page 5, line 15, decrease the amount by $1,000,000,000.
       On page 20, line 17, increase the amount by $1,000,000,000.
       On page 20, line 18, increase the amount by $150,000,000.
       On page 20, line 22, increase the amount by $286,000,000.

[[Page 4006]]

       On page 21, line 1, increase the amount by $235,000,000.
       On page 21, line 5, increase the amount by $290,000,000.
       On page 21, line 9, increase the amount by $39,000,000.
       On page 39, line 18, increase the amount by $1,000,000,000.
       On page 39, line 19, increase the amount by $150,000,000.
       On page 40, line 2, increase the amount by $286,000,000.
                                 ______
                                 
  SA 2727. Mr. SANTORUM (for himself, Mr. Conrad, and Mr. Bunning) 
submitted an amendment intended to be proposed by him to the bill S. 
1637, to amend the Internal Revenue Code of 1986 to comply with the 
World Trade Organization rulings on the FSC/ETI benefit in a manner 
that preserves jobs and production activities in the United States, to 
reform and simplify the international taxation rules of the United 
States, and for other purposes; which was ordered to lie on the table; 
as follows:

       On page 179, after line 25, insert the following:

     SEC. __. SUSPENSION OF POLICYHOLDERS SURPLUS ACCOUNT 
                   PROVISIONS.

       (a) In General.--Section 815 (relating to distributions to 
     shareholders from pre-1984 policyholders surplus account) is 
     amended by adding at the end the following new subsection:
       ``(g) Application of Section.--This section shall not apply 
     to stock life insurance companies for taxable years beginning 
     after December 31, 2003, and beginning before January 1, 
     2006.''.
       (b) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after December 31, 
     2003.
                                 ______
                                 
  SA 2728. Mr. STEVENS (for himself, Mr. Inouye, and Mr. Warner) 
submitted an amendment intended to be proposed by him to the concurrent 
resolution S. Con. Res. 95, setting forth the congressional budget for 
the United States Government for fiscal year 2005 and including the 
appropriate budgetary levels for fiscal years 2006 through 2009; which 
was ordered to lie on the table; as follows:

       On page 30, strike line 21 and all that follows through 
     page 31, line 9, and insert the following:

     SEC. 312. SUPPLEMENTAL FUNDING FOR IRAQ, AFGHANISTAN, HAITI 
                   AND FOR THE GLOBAL WAR ON TERRORISM.

       If the Committee on Appropriations of the Senate reports 
     legislation providing additional discretionary appropriations 
     in excess of the levels assumed in this resolution for 
     defense-related activities in Iraq, Afghanistan, Haiti and 
     for the global war on terrorism for fiscal year 2005, the 
     chairman of the Committee on the Budget shall revise the 
     allocations (and all other appropriate levels and aggregates 
     set out in this resolution) for that committee for such 
     purpose but not to exceed $50,000,000,000 in new budget 
     authority for fiscal year 2005 and the outlays that flow 
     therefrom.
                                 ______
                                 
  SA 2729. Mr. LEVIN (for himself and Mr. Jeffords) submitted an 
amendment intended to be proposed by him to the concurrent resolution 
S. Con. Res. 95, setting forth the congressional budget for the United 
States Government for fiscal year 2005 and including the appropriate 
budgetary levels for fiscal year 2006 through 2009; which was ordered 
to lie on the table; as follows:

       On page 54, after line 22, insert the following:

     SEC. ___. SENSE OF THE SENATE TO MAKE MORE EFFICIENT, 
                   FISCALLY RESPONSIBLE APPROPRIATIONS AND REVENUE 
                   DECISIONS.

       (a) Findings.--The Senate finds the following:
       (1) Federal programs and policies directly influence local 
     growth patterns through the location of Federal facilities, 
     spending on public infrastructure, tax incentives, and 
     Federal regulations.
       (2) This Federal influence on local land use decisions 
     results in both positive and negative effects.
       (3) Unplanned and random growth results in increased 
     commuting times, traffic congestion, impaired air quality, 
     loss of open space and environmentally sensitive areas, 
     public health problems, and poor accessibility to critical 
     services such as schools and hospitals.
       (4) Investing in existing infrastructure is a fiscally 
     responsible use of resources. When not properly planned, 
     local development decisions may actually burden the Federal 
     budget by requiring the construction of new water, sewer, and 
     transportation infrastructure in low-density areas, rather 
     than funding the maintenance of existing infrastructure.
       (5) Planned growth, important in sustaining community 
     development and a healthy economy, has positive effects, 
     reflected, for example, in increased home ownership, higher 
     consumer savings, lower energy consumption, and strong 
     business advantages.
       (b) Sense of the Senate.--It is the sense of the Senate 
     that the budgetary levels in this resolution assume that in 
     making appropriations and revenue decisions, the Senate 
     should--
       (1) support Federal policies that encourage growth patterns 
     that make efficient use of available housing, transportation, 
     and infrastructure resources; and
       (2) address the unintended consequences of urban and 
     suburban sprawl resulting from specific Federal programs and 
     policies through the use of additional resources and the 
     allocation of budgetary authority to provide incentives for 
     sustainable growth.
                                 ______
                                 
  SA 2730. Mr. LEVIN submitted an amendment intended to be proposed by 
him to the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels for fiscal years 
2006 through 2009; which was ordered to lie on the table; as follows:

       On page 3, line 9, increase the amount by $54,000,000.
       On page 3, line 10, increase the amount by $250,000,000.
       On page 3, line 11, increase the amount by $54,000,000.
       On page 3, line 17, increase the amount by $54,000,000.
       On page 3, line 18, increase the amount by $250,000,000.
       On page 3, line 19, increase the amount by $54,000,000.
       On page 4, line 4, increase the amount by $179,000,000.
       On page 4, line 12, increase the amount by $27,000,000.
       On page 4, line 13, increase the amount by $125,000,000.
       On page 4, line 14, increase the amount by $27,000,000.
       On page 4, line 20, increase the amount by $27,000,000.
       On page 4, line 21, increase the amount by $125,000,000.
       On page 4, line 22, increase the amount by $27,000,000.
       On page 5, line 3, decrease the amount by $27,000,000.
       On page 5, line 4, decrease the amount by $152,000,000.
       On page 5, line 5, decrease the amount by $179,000,000.
       On page 5, line 6, decrease the amount by $179,000,000.
       On page 5, line 7, decrease the amount by $179,000,000.
       On page 5, line 11, decrease the amount by $27,000,000.
       On page 5, line 12, decrease the amount by $152,000,000.
       On page 5, line 13, decrease the amount by $179,000,000.
       On page 5, line 14, decrease the amount by $179,000,000.
       On page 5, line 15, decrease the amount by $179,000,000.
       On page 13, line 2, increase the amount by $179,000,000.
       On page 13, line 3, increase the amount by $27,000,000.
       On page 13, line 7, increase the amount by $125,000,000.
       On page 13, line 11, increase the amount by $27,000,000.
       On page 39, line 18, increase the amount by $179,000,000.
       On page 39, line 19, increase the amount by $27,000,000.
       On page 40, line 2, increase the amount by $125,000,000.
                                 ______
                                 
  SA 2731. Mr. GRAHAM of South Carolina (for himself, Mr. Daschle, Mr. 
Bunning, Mr. Leahy, Mrs. Clinton, Mr. DeWine, Mr. Chambliss, Mr. Allen, 
Mrs. Murray, Mr. Kennedy, Mrs. Lincoln, Mr. Dayton, Ms. Murkowski, Ms. 
Mikulski. Mr. Feingold, and Mr. Miller) proposed an amendment to the 
concurrent resolution S. Con. Res. 95, setting forth the congressional 
budget for the United States Government for fiscal year 2005 and 
including the appropriate budgetary levels for fiscal years 2006 
through 2009; as follows:

       On page 28, after line 7, insert the following:

     SEC. 304. RESERVE FUND FOR GUARD AND RESERVE HEALTH CARE.

       If the Committee on Armed Services or the Committee on 
     Appropriations reports a bill or joint resolution, or an 
     amendment thereto is offered or a conference report thereon 
     is submitted that expands access to health care for members 
     of the reserve component, the Chairman of the Committee on 
     the Budget may revise allocations of new budget authority and 
     outlays, the revenue aggregates, other appropriate 
     aggregates, and the discretionary spending limits to reflect 
     such legislation, providing that such legislation--
       (1) would not increase the deficit for fiscal year 2005 and 
     for the period of fiscal years 2005 through 2009, or would 
     offset such deficit

[[Page 4007]]

     increases through reduction of unobligated balances from 
     Iraqi reconstruction;
       (2) does not exceed $5,600,000,000 for the period of fiscal 
     years 2005 through 2009.

     SEC. 305. RESERVE FUND FOR MONGOMERY GI BILL BENEFITS.

       If the Committee on Armed Services or the Committee on 
     Appropriations reports a bill or joint resolution, or an 
     amendment thereto is offered or a conference report thereon 
     is submitted, that increases benefit levels under the 
     Montgomery GI Bill for members of the Selected Reserves, the 
     Chairman of the Committee on the Budget may revise 
     allocations of new budget authority and outlays, the revenue 
     aggregates, other appropriate aggregates, and the 
     discretionary spending limits to reflect such legislation, 
     providing that such legislation--
       (1) would not increase the deficit for fiscal year 2005 and 
     for the period of fiscal years 2005 through 2009;
       (2) does not exceed $1,200,000,000 for the period of fiscal 
     years 2005 through 2009.
                                 ______
                                 
  SA 2732. Mrs. HUTCHISON (for herself, Ms. Landrieu, Mr. Breaux, and 
Mr. Lott) submitted an amendment intended to be proposed by her to the 
concurrent resolution S. Con. Res. 95, setting forth the congressional 
budget for the United States Government for fiscal year 2005 and 
including the appropriate budgetary levels for fiscal years 2006 
through 2009; which was ordered to lie on the table; as follows:

       On page 11, line 9, increase the amount by $200,000,000.
       On page 11, line 10, increase the amount by $200,000,000.
       On page 23, line 5, increase the amount by $200,000,000.
       On page 23, line 6, increase the amount by $200,000,000.
                                 ______
                                 
  SA 2733. Mr. SESSIONS (for himself and Mr. Cornyn) submitted an 
amendment intended to be proposed by him to the concurrent resolution 
S. Con. Res. 95, setting forth the congressional budget for the United 
States Government for fiscal year 2005 and including the appropriate 
budgetary levels for fiscal years 2006 through 2009; which was ordered 
to lie on the table; as follows:

       At the appropriate place insert the following:
       On page 21, line 13, decrease the amount $600,000,000.
       On page 21, line 14, decrease the amount $600,000,000.
       On page 9, line 17, increase the amount $600,000,000.
       On page 9, line 18, increase the amount $600,000,000.
                                 ______
                                 
  SA 2734. Mr. REID (for himself, Mrs. Lincoln, Mr. Schumer, Ms. 
Cantwell, Mr. Dayton, Mr. Kerry, Mr. Rockefeller, Mr. Daschle, Ms. 
Landrieu, Mr. Corzine, Mr. Nelson of Florida, Mr. Biden, Mr. Jeffords, 
Mr. Graham of Florida, Mrs. Murray, Mr. Bingaman, Mr. Akaka, and Mr. 
Johnson) submitted an amendment intended to be proposed by him to the 
concurrent resolution S. Con. Res. 95, setting forth the congressional 
budget for the United States Government for fiscal year 2005 and 
including the appropriate budgetary levels for fiscal years 2006 
through 2009; which was ordered to lie on the table; as follows:

       On page 3, line 9, increase the amount by $2,427,000,000.
       On page 3, line 10, increase the amount by $2,416,000,000.
       On page 3, line 11, increase the amount by $2,334,000,000.
       On page 3, line 12, increase the amount by $2,218,000,000.
       On page 3, line 13, increase the amount by $2,045,000,000.
       On page 3, line 17, increase the amount by $2,427,000,000.
       On page 3, line 18, increase the amount by $2,416,000,000.
       On page 3, line 19, increase the amount by $2,334,000,000.
       On page 3, line 20, increase the amount by $2,218,000,000.
       On page 3, line 21, increase the amount by $2,045,000,000.
       On page 4, line 20, increase the amount by $2,427,000,000.
       On page 4, line 21, increase the amount by $2,416,000,000.
       On page 4, line 22, increase the amount by $2,334,000,000.
       On page 4, line 23, increase the amount by $2,218,000,000.
       On page 4, line 24, increase the amount by $2,045,000,000.
       On page 5, line 3, decrease the amount by $2,427,000,000.
       On page 5, line 4, decrease the amount by $4,843,000,000.
       On page 5, line 5, decrease the amount by $7,177,000,000.
       On page 5, line 6, decrease the amount by $9,395,000,000.
       On page 5, line 7, decrease the amount by $11,440,000,000.
       On page 5, line 11, decrease the amount by $2,427,000,000.
       On page 5, line 12, decrease the amount by $4,843,000,000.
       On page 5, line 13, decrease the amount by $7,177,000,000.
       On page 5, line 14, decrease the amount by $9,395,000,000.
       On page 5, line 15, decrease the amount by $11,440,000,000.
       At the end of title III insert the following:

     SEC.  . RESERVE FUND FOR CONCURRENT RECEIPT.

       If the Committee on Armed Services or the Committee on 
     Appropriations reports a bill or joint resolution, or an 
     amendment thereto is offered or a conference report thereon 
     is submitted, that provides for an extension of eligibility 
     for concurrent receipt of military retirement pay and 
     veterans' disability compensation under that section to 
     military retirees with service-connected disabilities rated 
     between 40 percent and zero percent, the Chairman of the 
     Committee on the Budget shall revise the aggregates, 
     functional totals, allocations, discretionary caps, and other 
     appropriate levels and limits in this resolution by up to 
     $11,440,000,000 in budget authority and $11,440,000,000 in 
     outlays over the total of fiscal years 2005 through 2009.
                                 ______
                                 
  SA 2735. Mr. BYRD (for himself, Mr. Conrad, Mr. Baucus, and Mr. 
Harkin) proposed an amendment to the concurrent resolution S. Con. Res. 
95, setting forth the congressional budget for the United States 
Government for fiscal year 2005 and including the appropriate budgetary 
levels for fiscal years 2006 through 2009; as follows:

       Strike Section 201(a) of the committee-reported resolution, 
     on page 24 line 21 through page 25 line 3.
                                 ______
                                 
  SA 2736. Mr. DORGAN submitted an amendment intended to be proposed by 
him to the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels for fiscal years 
2006 through 2009; which was ordered to lie on the table; as follows:

       On page 4, line 4, decrease the amount by $3,332,000,000.
       On page 4, line 5, increase the amount by $658,000,000.
       On page 4, line 6, increase the amount by $742,000,000.
       On page 4, line 7, increase the amount by $692,000,000.
       On page 4, line 8, increase the amount by $727,000,000.
       On page 4, line 12, decrease the amount by $713,000,000.
       On page 4, line 13, decrease the amount by $964,000,000.
       On page 4, line 14, decrease the amount by $176,000,000.
       On page 4, line 15, increase the amount by $374,000,000.
       On page 4, 1ine 16, increase the amount by $607,000,000.
       On page 4, line 20, increase the amount by $713,000,000.
       On page 4, line 21, increase the amount by $964,000,000.
       On page 4, line 22, increase the amount by $176,000,000,
       On page 4, 1ine 23, decrease the amount by $374,000,000.
       On page 4, line 24, decrease the amount by $607,000,000.
       On page 5, line 3, decrease the amount by $713,000,000.
       On page 5, line 4, decrease the amount by $1,677,000,000.
       On page 5, line 5, decrease the amount by $1,853,000,000.
       On page 5, line 6, decrease the amount by $1,479,000,000.
       On page 5, line 7, decrease the amount by $872,000,000.
       On page 5, line 11, decrease the amount by $713,000,000.
       On page 5, line 12, decrease the amount by $1,677,000,000.
       On page 5, line 13, decrease the amount by $1,853,000,000.
       On page 5, line 14, decrease the amount by $1,479,000,000.
       On page 5, line 15, decrease the amount by $872,000,000.
       On page 8, line 21, decrease the amount by $3,332,000,000.
       On page 8, line 22, decrease the amount by $713,000,000.
       On page 9, line 1, decrease the amount by $1,260,000,000.
       On page 9, line 5, decrease the amount by $773,000,000.
       On page 9, line 9, decrease the amount by $300,000,000.
       On page 9, line 13, decrease the amount by $104,000,000.
       On page 10, line 17, increase the amount by $658,000,000.
       On page 10, line 18, increase the amount by $296,000,000.
       On page 10, line 21, increase the amount by $742,000,000.
       On page 10, line 22, increase the amount by $597,000,000.

[[Page 4008]]

       On page 10, line 25, increase the amount by $692,000,000.
       On page 11, line 1, increase the amount by $674,000,000.
       On page 11, line 4, increase the amount by $727,000,000.
       On page 11, line 5, increase the amount by $711,000,000.
       At the end of Section 303, insert:

     SEC.   . RESERVE FUND FOR HYDROGEN FUEL CELL RESEARCH AND 
                   DEVELOPMENT.

       The Chairman of the Committee on the Budget of the Senate 
     shall revise the aggregates, functional totals, allocations 
     to the Committee on Appropriations of the Senate, 
     discretionary spending limits, and other appropriate levels 
     and limits in this resolution by up to $513,000,000 in budget 
     authority for fiscal year 2005, and by the amount of outlays 
     flowing therefrom in 2005 and subsequent years, for a bill, 
     joint resolution, motion, amendment, or conference report 
     that provides additional fiscal year 2005 discretionary 
     appropriations, in excess of levels provided in this 
     resolution, for Hydrogen Fuel Cell Research and Development, 
     included in this resolution for the Department of Energy.
       On page 40 line 1, increase the amount by $658,000,000.
       On page 40 line 2, increase the amount by $296,000,000.
                                 ______
                                 
  SA 2737. Ms. CANTWELL (for herself, Mr. Kennedy, and Mr. Sarbanes) 
submitted an amendment intended to be proposed by her to the concurrent 
resolution S. Con. Res. 95, setting forth the congressional budget for 
the United States Government for fiscal year 2005 and including the 
appropriate budgetary levels for fiscal years 2006 through 2009; which 
was ordered to lie on the table; as follows:

       On page 33, after line 25, insert the following:

     SEC. 314. SPECIAL RULE FOR FISCAL YEAR 2004.

       If additional funding to extend expired unemployment 
     insurance benefits for fiscal year 2004 is provided in a 
     bill, joint resolution, amendment, motion, or conference 
     report, and its cost is fully offset in the year provided and 
     would not increase the on-budget deficit, then such funding 
     shall not be counted for purposes of Senate enforcement of 
     the Congressional Budget Act of 1974 and this resolution.
                                 ______
                                 
  SA 2738. Ms. CANTWELL (for herself, Mr. Kennedy, and Mr. Sarbanes) 
submitted an amendment intended to be proposed by her to the concurrent 
resolution S. Con. Res. 95, setting forth the congressional budget for 
the United States Government for fiscal year 2005 and including the 
appropriate budgetary levels for fiscal years 2006 through 2009; which 
was ordered to lie on the table; as follows:

       On page 54, after line 22, insert the following:

     SEC. __. SENSE OF THE SENATE ON TEMPORARY EMERGENCY 
                   UNEMPLOYMENT COMPENSATION.

       (a) Findings.--The Senate finds the following:
       (1) There are currently 8,200,000 unemployed Americans.
       (2) An additional 1,700,000 discouraged workers have given 
     up looking for work.
       (3) Another 4,700,000 individuals are working part time, 
     but want a full-time job and cannot find one.
       (4) For every job opening, there are 3 laid-off workers 
     fighting for that job.
       (5) Since January 2001, the economy has lost 2,200,000 
     jobs.
       (6) Reinstating the Federal Temporary Unemployment 
     Insurance Compensation program would reinstate benefits for 
     90,000 laid-off workers each week who began exhausting State 
     benefits when that program ended.
       (7) For the first 6 months of 2004, reinstating the 
     Temporary Unemployment Insurance Compensation program would 
     benefit 2,000,000 laid-off workers.
       (b) Sense of the Senate.--It is the sense of the Senate 
     that the levels in this concurrent resolution assume that 
     Congress and the President will enact legislation reinstating 
     the program established by the Temporary Emergency 
     Unemployment Compensation Act of 2002 (Public Law 107-147) 
     through June 30, 2004.
                                 ______
                                 
  SA 2739. Mr. SPECTER (for himself, Mr. Cochran, Mr. Harkin, and Mr. 
Byrd) submitted an amendment intended to be proposed by him to the 
concurrent resolution S. Con. Res. 95, setting forth the congressional 
budget for the United States Government for fiscal year 2005 and 
including the appropriate budgetary levels for fiscal years 2006 
through 2009; which was ordered to lie on the table; as follows:

       Strike section 404.
                                 ______
                                 
  SA 2740. Mr. SPECTER (for himself and Mr. Harkin) submitted an 
amendment intended to be proposed by him to the concurrent resolution 
S. Con. Res. 95, setting forth the congressional budget for the United 
States Government for fiscal year 2005 and including the appropriate 
budgetary levels for fiscal years 2006 through 2009; which was ordered 
to lie on the table; as follows:

       Strike subsection 404(a).
                                 ______
                                 
  SA 2741. Mr. SPECTER submitted an amendment intended to be proposed 
by him to the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels for fiscal years 
2006 through 2009; which was ordered to lie on the table; as follows:

       On page 16, line 12, increase the amount by $2,000,000,000.
       On page 16, line 13, increase the amount by $2,000,000,000.
       On page 23, line 5, decrease the amount by $2,000,000,000.
       On page 23, line 6, decrease the amount by $2,000,000,000.
                                 ______
                                 
  SA 2742. Mr. WARNER (for himself, Mr. Stevens, Mr. McCain, Mr. 
Inhofe, Mr. Roberts, Ms. Collins, Mr. Chambliss, Mr. Graham of South 
Carolina, Mr. Talent, Mr. Craig, and Mr. Allen) proposed an amendment 
to the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels for fiscal years 
2006 through 2009; as follows:

       On page 4, line 4, increase the amount by $6,997,000,000.
       On page 4, line 5, increase the amount by $262,000,000.
       On page 4, line 6, increase the amount by $358,000,000.
       On page 4, line 7, increase the amount by $405,000,000.
       On page 4, line 8, increase the amount by $432,000,000.
       On page 4, line 12, increase the amount by $5,506,000,000.
       On page 4, line 13, increase the amount by $1,855,000,000.
       On page 4, line 14, increase the amount by $799,000,000.
       On page 4, line 15, increase the amount by $550,000,000.
       On page 4, line 16, increase the amount by $480,000,000.
       On page 4, line 20, decrease the amount by $5,506,000,000.
       On page 4, line 21, decrease the amount by $1,855,000,000.
       On page 4, line 22, decrease the amount by $799,000,000.
       On page 4, line 23, decrease the amount by $550,000,000.
       On page 4, line 24, decrease the amount by $480,000,000.
       On page 5, line 3, increase the amount by $5,506,000,000.
       On page 5, line 4, increase the amount by $7,362,000,000.
       On page 5, line 5, increase the amount by $8,161,000,000.
       On page 5, line 6, increase the amount by $8,711,000,000.
       On page 5, line 7, increase the amount by $9,191,000,000.
       On page 5, line 11, increase the amount by $5,506,000,000.
       On page 5, line 12, increase the amount by $7,362,000,000.
       On page 5, line 13, increase the amount by $8,161,000,000.
       On page 5, line 14, increase the amount by $8,711,000,000.
       On page 5, line 15, increase the amount by $9,191,000,000.
       On page 7, line 25, increase the amount by $6,900,000,000.
       On page 8, line 1, increase the amount by $5,409,000,000.
       On page 8, line 5, increase the amount by $1,594,000,000.
       On page 8, line 9, increase the amount by $442,000,000.
       On page 8, line 13, increase the amount by $145,000,000.
       On page 8, line 17, increase the amount by $48,000,000.
       On page 22, line 9, increase the amount by $97,000,000.
       On page 22, line 10, increase the amount by $97,000,000.
       On page 22, line 13, increase the amount by $262,000,000.
       On page 22, line 14, increase the amount by $262,000,000.
       On page 22, line 17, increase the amount by $358,000,000.
       On page 22, line 18, increase the amount by $358,000,000.
       On page 22, line 21, increase the amount by $405,000,000.
       On page 22, line 22, increase the amount by $405,000,000.
       On page 22, line 25, increase the amount by $432,000,000.
       On page 23, line 1, increase the amount by $432,000,000.

[[Page 4009]]

       On page 39, line 18, increase the amount by $6,900,000,000.
       On page 39, line 19, increase the amount by $5,409,000,000.
       On page 40, line 2, increase the amount by $1,594,000,000.
                                 ______
                                 
  SA 2743. Mr. ROCKEFELLER (for himself, Mr. Wyden, Mr. Kennedy, Mrs. 
Murray, and Mr. Schumer) submitted an amendment intended to be proposed 
by him to the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels for fiscal years 
2006 through 2009; which was ordered to lie on the table; as follows:

       On page 28, after line 7, insert the following:

     SEC. __. RESERVE FUND TO PROTECT STATES.

       If the Committee on Finance of the Senate reports a bill or 
     joint resolution that extends increased Federal Medical 
     Assistance Percentage (FMAP) payments to States and that 
     legislation would not increase the deficit for fiscal year 
     2005 or for the period of fiscal years 2005 through 2009, the 
     budgetary effects of that legislation shall not count for 
     purposes of the Congressional Budget Act or provisions of the 
     concurrent resolutions on the budget for fiscal year 2004 or 
     2005. If an amendment, motion, or conference report is 
     offered that extends increased Federal Medical Assistance 
     Percentage payments to States and would not increase the 
     deficit for fiscal year 2005 or for the period of fiscal 
     years 2005 through 2009, that amendment, motion, or 
     conference report shall not count for those purposes.
                                 ______
                                 
  SA 2744. Mr. NELSON of Florida submitted an amendment intended to be 
proposed by him to the concurrent resolution S. Con. Res. 95, setting 
forth the congressional budget for the United States Government for 
fiscal year 2005 and including the appropriate budgetary levels for 
fiscal years 2006 through 2009; which was ordered to lie on the table; 
as follows:

       On page 3, line 9, increase the amount by $2,000,000.
       On page 3, line 10, increase the amount by $38,000,000.
       On page 3, line 11, increase the amount by $16,000,000.
       On page 3, line 12, increase the amount by $3,000,000.
       On page 3, line 17 , increase the amount by $2,000,000.
       On page 3, line 18, increase the amount by $38,000,000.
       On page 3, line 19, increase the amount by $16,000,000.
       On page 3, line 20, increase the amount by $3,000,000.
       On page 4, line 20, increase the amount by $2,000,000.
       On page 4, line 21, increase the amount by $38,000,000.
       On page 4, line 22, increase the amount by $16,000,000.
       On page 4, line 23, increase the amount by $3,000,000.
       On page 5, line 3, decrease the amount by $2,000,000.
       On page 5, line 4, decrease the amount by $40,000,000.
       On page 5, line 5, decrease the amount by $56,000,000.
       On page 5, line 6, decrease the amount by $59,000,000.
       On page 5, line 7, decrease the amount by $59,000,000.
       On page 5, line 11, decrease the amount by $2,000,000.
       On page 5, line 12, decrease the amount by $40,000,000.
       On page 5, line 13, decrease the amount by $56,000,000.
       On page 5, line 14, decrease the amount by $59,000,000.
       On page 5, line 15, decrease the amount by $59,000,000.
       At the end of Title III, insert the following:

     SEC.   . RESERVE FUND FOR THE LOCAL FAMILY INFORMATION 
                   CENTERS PROGRAM.

       The Chairman of the Committee on the Budget of the Senate 
     shall revise the aggregates, functional totals, allocations 
     to the Committee on Appropriations of the Senate, 
     discretionary spending limits, and other appropriate levels 
     and limits in this resolution by up to $58,000,000 in budget 
     authority for fiscal year 2005, and by the amount of outlays 
     flowing therefrom in 2005 and subsequent years, for a bill, 
     joint resolution, motion, amendment, or conference report 
     that provides additional fiscal year 2005 discretionary 
     appropriations, in excess of levels provided in this 
     resolution, for the Local Family Information Centers program 
     in the Department of Education.
                                 ______
                                 
  SA 2745. Mr. NELSON of Florida (for himself, Mr. Corzine, Ms. 
Mikulski, Mr. Schumer, and Mr. Nelson of Nebraska) submitted an 
amendment intended to be proposed by him to the concurrent resolution 
S. Con. Res. 95, setting forth the congressional budget for the United 
States Government for fiscal year 2005 and including the appropriate 
budgetary levels for fiscal years 2006 through 2009; as follows:

       On page 3, line 9, increase the amount by $1,620,000,000.
       On page 3, line 10, increase the amount by $162,000,000.
       On page 3, line 11, increase the amount by $7,000,000.
       On page 3, line 12, increase the amount by $2,000,000.
       On page 3, line 17, increase the amount by $1,620,000,000.
       On page 3, line 18, increase the amount by $162,000,000.
       On page 3, line 19, increase the amount by $7,000,000.
       On page 3, line 20, increase the amount by $2,000,000.
       On page 4, line 20, increase the amount by $1,620,000,000.
       On page 4, line 21, increase the amount by $162,000,000.
       On page 4, line 22, increase the amount by $7,000,000.
       On page 4, line 23, increase the amount, by $2,000,000.
       On page 5, line 3, decrease the amount by $1,620,000,000.
       On page 5, line 4, decrease the amount by $1,782,000,000.
       On page 5, line 5, decrease the amount by $1,789,000,000.
       On page 5, line 6, decrease the amount by $1,791,000,000.
       On page 5, line 7, decrease the amount by $1,791,000,000.
       On page 5, line 11, decrease the amount by $1,620,000,000.
       On page 5, line 12, decrease the amount by $1,782,000,000.
       On page 5, line 13, decrease the amount by $1,789,000,000.
       On page 5, line 14, decrease the amount by $1,791,000,000.
       On page 5, line 15, decrease the amount by $1,791,000,000.
       At the end of Title III, insert the following:

     SEC.  . RESERVE FUND FOR VETERANS' MEDICAL CARE.

       The Chairman of the Committee on the Budget of the Senate 
     shall revise the aggregates, functional totals, allocations 
     to the Committee on Appropriations of the Senate, 
     discretionary spending limits, and other appropriate levels 
     and limits in this resolution by up to $1,800,000,000 in 
     budget authority for fiscal year 2005, and by the amount of 
     outlays flowing therefrom in 2005 and subsequent years, for a 
     bill, joint resolution, motion, amendment, or conference 
     report that provides additional fiscal year 2005 
     discretionary appropriations, in excess of levels provided in 
     this resolution, for veterans' medical programs, included in 
     this resolution for the Department of Veterans Affairs.
                                 ______
                                 
  SA 2746. Mr. NELSON of Florida submitted an amendment intended to be 
proposed by him to the concurrent resolution S. Con. Res. 95, setting 
forth the congressional budget for the United States Government for 
fiscal year 2005 and including the appropriate budgetary levels for 
fiscal years 2006 through 2009; which was ordered to lie on the table; 
as follows:

       On page 3, line 9, increase the amount by $2,000,000.
       On page 3, line 10, increase the amount by $7,000,000.
       On page 3, line 11, increase the amount by $13,000,000.
       On page 3, line 12, increase the amount by $15,000,000.
       On page 3, line 13, increase the amount by $4,000,000.
       On page 3, line 17, increase the amount by $2,000,000.
       On page 3, line 18, increase the amount by $7,000,000.
       On page 3, line 19, increase the amount by $13,000,000.
       On page 3, line 20, increase the amount by $15,000,000.
       On page 3, line 21, increase the amount by $4,000,000.
       On page 4, line 20, increase the amount by $2,000,000.
       On page 4, line 21, increase the amount by $7,000,000.
       On page 4, line 22, increase the amount by $13,000,000.
       On page 4, line 23, increase the amount by $15,000,000.
       On page 4, line 24, increase the amount by $4,000,000.
       On page 5, line 3, decrease the amount by $2,000,000.
       On page 5, line 4, decrease the amount by $9,000,000.
       On page 5, line 5, decrease the amount by $22,000,000.
       On page 5, line 6, decrease the amount by $37,000,000.
       On page 5, line 7, decrease the amount by $41,000,000.
       On page 5, line 11, decrease the amount by $2,000,000.
       On page 5, line 12, decrease the amount by $9,000,000.
       On page 5, line 13, decrease the amount by $22,000,000.
       On page 5, line 14, decrease the amount by $37,000,000.

[[Page 4010]]

       On page 5, line 15, decrease the amount by $41,000,000.
       At the end of Title III, insert the following:

     SEC.   . RESERVE FUND FOR THE DEPARTMENT OF DEFENSE 
                   COOPERATIVE THREAT REDUCTION PROGRAMS.

       The Chairman of the Committee on the Budget of the Senate 
     shall revise the aggregates, functional totals, allocations 
     to the Committee on Appropriations of the Senate, 
     discretionary spending limits, and other appropriate levels 
     and limits in this resolution by up to $41,000,000 in budget 
     authority for fiscal year 2005, and by the amount of outlays 
     flowing therefrom in 2005 and subsequent years, for a bill, 
     joint resolution, motion, amendment, or conference report 
     that provides additional fiscal year 2005 discretionary 
     appropriations, in excess of levels provided in this 
     resolution, for the Cooperative Threat Reduction Program in 
     the Department of Defense.
                                 ______
                                 
  SA 2747. Mr. NELSON of Florida submitted an amendment intended to be 
proposed by him to the concurrent resolution S. Con. Res. 95, setting 
forth the congressional budget for the United States Government for 
fiscal year 2005 and including the appropriate budgetary levels for 
fiscal years 2006 through 2009; which was ordered to lie on the table; 
as follows:

       On page 3, line 9, increase the amount by $382,000,000.
       On page 3, line 10, increase the amount by $196,000,000.
       On page 3, line 11, increase the amount by $38,000,000.
       On page 3, line 12, increase the amount by $9,000,000.
       On page 3, line 13, increase the amount by $3,000,000.
       On page 3, line 17, increase the amount by $382,000,000.
       On page 3, line 18, increase the amount by $196,000,000.
       On page 3, line 19, increase the amount by $38,000,000.
       On page 3, line 20, increase the amount by $9,000,000.
       On page 3, line 21, increase the amount by $3,000,000.
       On page 4, line 20, increase the amount by $382,000,000.
       On page 4, line 21, increase the amount by $196,000,000.
       On page 4, line 22, increase the amount by $38,000,000.
       On page 4, line 23, increase the amount by $9,000,000.
       On page 4, line 24, increase the amount by $3,000,000.
       On page 5, line 3, decrease the amount by $382,000,000.
       On page 5, line 4, decrease the amount by $578,000,000.
       On page 5, line 5, decrease the amount by $616,000,000.
       On page 5, line 6, decrease the amount by $625,500,000.
       On page 5, line 7, decrease the amount by $628,000,000.
       On page 5, line 11, decrease the amount by $382,000,000.
       On page 5, line 12, decrease the amount by $578,000,000.
       On page 5, line 13, decrease the amount by $616,000,000.
       On page 5, line 14, decrease the amount by $625,500,000.
       On page 5, line 15, decrease the amount by $628,000,000.
       At the end of Title III, insert the following:

     SEC.   . RESERVE FUND FOR THE NATIONAL AERONAUTICS AND SPACE 
                   ADMINISTRATION.

       The Chairman of the Committee on the Budget of the Senate 
     shall revise the aggregates, functional totals, allocations 
     to the Committee on Appropriations of the Senate, 
     discretionary spending limits, and other appropriate levels 
     and limits in this resolution by up to $631,000,000 in budget 
     authority for fiscal year 2005, and by the amount of outlays 
     flowing therefrom in 2005 and subsequent years, for a bill, 
     joint resolution, motion, amendment, or conference report 
     that provides additional fiscal year 2005 discretionary 
     appropriations, in excess of levels provided in this 
     resolution, for the National Aeronautics and Space 
     Administration.
                                 ______
                                 
  SA 2748. Mr. FEINGOLD (for himself, Mr. Chafee, Mr. Baucus, Ms. 
Cantwell, Mr. Carper, and Mr. Graham of Florida) proposed an amendment 
to the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels for fiscal years 
2006 through 2009; as follows:

       On page 46, between lines 2 and 3, insert the following:

     SEC. 408. PAY-AS-YOU-GO POINT OF ORDER IN THE SENATE.

       (a) Point of Order.--
       (1) In general.--It shall not be in order in the Senate to 
     consider any direct spending or revenue legislation that 
     would increase the on-budget deficit or cause an on-budget 
     deficit for any one of the three applicable time periods as 
     measured in paragraphs (5) and (6).
       (2) Applicable time periods.--For purposes of this 
     subsection, the term ``applicable time period'' means any 1 
     of the 3 following periods:
       (A) The first year covered by the most recently adopted 
     concurrent resolution on the budget.
       (B) The period of the first 5 fiscal years covered by the 
     most recently adopted concurrent resolution on the budget.
       (C) The period of the 5 fiscal years following the first 5 
     fiscal years covered in the most recently adopted concurrent 
     resolution on the budget.
       (3) Direct-spending legislation.--For purposes of this 
     subsection and except as provided in paragraph (4), the term 
     ``direct-spending legislation'' means any bill, joint 
     resolution, amendment, motion, or conference report that 
     affects direct spending as that term is defined by, and 
     interpreted for purposes of, the Balanced Budget and 
     Emergency Deficit Control Act of 1985.
       (4) Exclusion.--For purposes of this subsection, the terms 
     ``direct-spending legislation'' and ``revenue legislation'' 
     do not include--
       (A) any concurrent resolution on the budget; or
       (B) any provision of legislation that affects the full 
     funding of, and continuation of, the deposit insurance 
     guarantee commitment in effect on the date of enactment of 
     the Budget Enforcement Act of 1990.
       (5) Baseline.--Estimates prepared pursuant to this section 
     shall--
       (A) use the baseline surplus or deficit used for the most 
     recently adopted concurrent resolution on the budget; and
       (B) be calculated under the requirements of subsections (b) 
     through (d) of section 257 of the Balanced Budget and 
     Emergency Deficit Control Act of 1985 for fiscal years beyond 
     those covered by that concurrent resolution on the budget.
       (6) Prior surplus.--If direct spending or revenue 
     legislation increases the on-budget deficit or causes an on-
     budget deficit when taken individually, it must also increase 
     the on-budget deficit or cause an on-budget deficit when 
     taken together with all direct spending and revenue 
     legislation enacted since the beginning of the calendar year 
     not accounted for in the baseline under paragraph (5)(A), 
     except that direct spending or revenue effects resulting in 
     net deficit reduction enacted pursuant to reconciliation 
     instructions since the beginning of that same calendar year 
     shall not be available.
       (b) Waiver.--This section may be waived or suspended in the 
     Senate only by the affirmative vote of three-fifths of the 
     Members, duly chosen and sworn.
       (c) Appeals.--Appeals in the Senate from the decisions of 
     the Chair relating to any provision of this section shall be 
     limited to 1 hour, to be equally divided between, and 
     controlled by, the appellant and the manager of the bill or 
     joint resolution, as the case may be. An affirmative vote of 
     three-fifths of the Members of the Senate, duly chosen and 
     sworn, shall be required to sustain an appeal of the ruling 
     of the Chair on a point of order raised under this section.
       (d) Determination of Budget Levels.--For purposes of this 
     section, the levels of new budget authority, outlays, and 
     revenues for a fiscal year shall be determined on the basis 
     of estimates made by the Committee on the Budget of the 
     Senate.
       (e) Sunset.--This section shall expire on September 30, 
     2009.
                                 ______
                                 
  SA 2749. Mr. GRAHAM of Florida (for himself and Mrs. Clinton) 
submitted an amendment intended to be proposed by him to the concurrent 
resolution S. Con. Res. 95, setting forth the congressional budget for 
the United States Government for fiscal year 2005 and including the 
appropriate budgetary levels for fiscal years 2006 through 2009; which 
was ordered to lie on the table; as follows:

       On page 3, line 9, increase the amount by 3,087,000,000.
       On page 3, line 10, increase the amount by 5,408,000,000.
       On page 3, line 11, increase the amount by 7,415,000,000.
       On page 3, line 12, increase the amount by 9,901,000,000.
       On page 3, line 13, increase the amount by 18,082,000,000.
       On page 3, line 17, increase the amount by 3,087,000,000.
       On page 3, line 18, increase the amount by 5,408,000,000.
       On page 3, line 19, increase the amount by 7,415,000,000.
       On page 3, line 20, increase the amount by 9,901,000,000.
       On page 3, line 21, increase the amount by 18,082,000,000.
       On page 4, line 20, increase the amount by 3,087,000,000.
       On page 4, line 21, increase the amount by 5,408,000,000.
       On page 4, line 22, increase the amount by 7,415,000,000.
       On page 4, line 23, increase the amount by 9,901,000,000.
       On page 4, line 24, increase the amount by 18,082,000,000.

[[Page 4011]]

       On page 5, line 3, decrease the amount by 3,087,000,000.
       On page 5, line 4, decrease the amount by 8,495,000,000.
       On page 5, line 5, decrease the amount by 15,910,000,000.
       On page 5, line 6, decrease the amount by 25,811,000,000.
       On page 5, line 7, decrease the amount by 43,893,000,000.
       On page 5, line 11, decrease the amount by 3,087,000,000.
       On page 5, line 12, decrease the amount by 8,495,000,000.
       On page 5, line 13, decrease the amount by 15,910,000,000.
       On page 5, line 14, decrease the amount by 25,811,000,000.
       On page 5, line 15, decrease the amount by 43,893,000,000.
       At the end of title III, insert the following:

     SEC.   . RESERVE FUND FOR IMPROVEMENTS TO PELL GRANT PROGRAM 
                   TO ASSIST NONTRADITIONAL STUDENTS.

       The Chairman of the Committee on Budget of the Senate shall 
     revise aggregates, function totals, allocations to the 
     Committee on Appropriations of the Senate, discretionary 
     spending limits, and other appropriate levels and limits in 
     this resolution by up to $1,786,000,000 in budget authority 
     for fiscal years 2005, and by the amount of outlays flowing 
     therefrom in 2005 and subsequent years, for a bill, joint 
     resolution, motion, amendment, or conference report that 
     provides additional fiscal year 2005 discretionary 
     appropriations, in excess of levels provided in this 
     resolution, to expand the maximum Pell Grant award, make 
     grants available year-round, increase the income protection 
     for independent students, increase funding for student 
     support services, and increase funding for campus child care.
                                 ______
                                 
  SA 2750. Mr. FEINGOLD (for himself, Mr. Corzine, and Mr. Durbin) 
submitted an amendment intended to be proposed by him to the concurrent 
resolution S. Con. Res. 95, setting forth the congressional budget for 
the United States Government for fiscal year 2005 and including the 
appropriate budgetary levels for fiscal years 2006 through 2009; which 
was ordered to lie on the table; as follows:

       On page 3, line 9, increase the amount by $9,936,000,000.
       On page 3, line 10, increase the amount by $7,446,000,000.
       On page 3, line 11, increase the amount by $2,032,000,000.
       On page 3, line 12, increase the amount by $390,000,000.
       On page 3, line 13, increase the amount by $90,000,000.
       On page 3, line 17, increase the amount by $9,936,000,000.
       On page 3, line 18, increase the amount by $7,446,000,000.
       On page 3, line 19, increase the amount by $2,032,000,000.
       On page 3, line 20, increase the amount by $390,000,000.
       On page 3, line 21, increase the amount by $90,000,000.
       On page 4, line 20, increase the amount by $9,936,000,000.
       On page 4, line 21, increase the amount by $7,446,000,000.
       On page 4, line 22, increase the amount by $2,032,000,000.
       On page 4, line 23, increase the amount by $390,000,000.
       On page 4, line 24, increase the amount by $90,000,000.
       On page 5, line 3, decrease the amount by $9,936,000,000.
       On page 5, line 4, decrease the amount by $19,414,000,000.
       On page 5, line 6, decrease the amount by $19,804,000,000.
       On page 5, line 7, decrease the amount by $19,894,000,000.
       On page 5, line 11, decrease the amount by $9,936,000,000.
       On page 5, line 12, decrease the amount by $17,382,000,000.
       On page 5, line 13, decrease the amount by $19,414,000,000.
       On page 5, line 14, decrease the amount by $19,804,000,000.
       On page 5, line 15, decrease the amount by $19,894,000,000.
       On page 31, line 7, strike $30,000,000,000 and replace with 
     $50,000,000,000.
                                 ______
                                 
  SA 2751. Mr. BAUCUS (for himself, Mr. Daschle, Mr. Lieberman, Mr. 
Jeffords, Mrs. Feinstein, Mr. Bingaman, Mrs. Murray and Mr. 
Rockefeller) submitted an amendment intended to be proposed by him to 
the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels for fiscal years 
2006 through 2009; as follows:

       Strike section 201(c).
                                 ______
                                 
  SA 2752. Mr. PRYOR submitted an amendment intended to be proposed by 
him to the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels for fiscal years 
2006 through 2009; which was ordered to lie on the table; as follows:

       At the end of title V, insert the following:

     SEC. __. FINDINGS AND SENSE OF THE SENATE.

       (a) Findings.--The Senate finds that--
       (1) the United States is in the grip of pervasively higher 
     natural gas prices;
       (2) high natural gas prices are, in general, having an 
     effect that is rippling through the United States economy and 
     are, in particular, impacting home energy bills;
       (3) while persons in many sectors can adapt to gas price 
     increases, persons in some sectors simply cannot;
       (4) elderly and disabled citizens who are living on fixed 
     incomes, low-income individuals, and the working poor face 
     hardships wrought by natural gas prices;
       (5) the energy burden for persons among the working poor 
     often exceeds 40 percent of those persons' incomes under 
     normal conditions;
       (6) under current circumstances, natural gas prices are 
     unnaturally high, and those are not normal circumstances;
       (7) while critically important and encouraged, State energy 
     assistance and charitable assistance funds have been 
     overwhelmed by the crisis caused by the high gas prices;
       (8) the Federal Low-Income Home Energy Assistance Program 
     (referred to in this section as ``LIHEAP'') and the companion 
     weatherization assistance program (referred to in this 
     section as ``WAP''), are the Federal Government's primary 
     means to assist eligible low-income individuals in the United 
     States to shoulder the burdens caused by their home heating 
     and cooling needs;
       (9) in 2003, LIHEAP reached only 15 percent of the persons 
     in the United States who were eligible for assistance under 
     the program;
       (10) since LIHEAP's inception, its inflation-adjusted 
     buying power has eroded by 58 percent;
       (11) the aggressive draw-down of Federal funds from LIHEAP 
     to address legitimate winter heating demands has led to a 
     subsequent cooling crisis that will be manifest later this 
     year; and
       (12) more individuals in the United States succumb to 
     extreme heat than all other weather phenomena combined.
       (b) Sense of the Senate.--It is the sense of the Senate 
     that the levels in this concurrent resolution assume--
       (1) an authorization of $3,400,000,000 for each of fiscal 
     years 2004 through 2006 to carry out the LIHEAP program;
       (2) an authorization of $325,000,000 for fiscal year 2004, 
     $400,000,000 for fiscal year 2005, and $500,000,000 for 
     fiscal year 2006 to carry out the WAP program;
       (3) appropriations, for those programs, of sufficient 
     additional funds to realistically address the immediate 
     heating crisis, and the cooling crisis that awaits the United 
     States this summer, as well as the systemic shortfalls that 
     have plagued those programs and the eligible individuals that 
     the programs are designed to assist; and
       (4) advance appropriations of the necessary funds to ensure 
     the smooth operation of those programs during times of peak 
     demand.
                                 ______
                                 
  SA 2753. Mrs. FEINSTEIN (for herself, Mr. Hollings, Mr. Corzine, Mr. 
Breaux, Mr. Schumer, Mr. Dodd, Mr. Biden, Ms. Mikulski, Mrs. Murray, 
and Mr. Graham) submitted an amendment intended to be proposed by her 
to the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels for fiscal years 
2006 through 2009; which was ordered to lie on the table; as follows:

       On page 54, after line 22, insert the following new 
     section:

     SEC. 510. SENSE OF THE SENATE REGARDING FUNDING FOR PORT 
                   SECURITY.

       (a) Findings.--The Senate makes the following findings:
       (1) In the United States, the system of maritime commerce, 
     including seaports and other ports, is a critical element of 
     the United States economic, social, and environmental 
     infrastructure.
       (2) In 2001, ports in the United States handled 
     approximately 5,400 ships, the majority of which were owned 
     by foreign persons and crewed by nationals of foreign 
     countries, that made a total of more than 60,000 calls at 
     such ports.
       (3) In a typical year, more than 17,000,000 cargo 
     containers are handled at ports in the United States.
       (4) Maritime commerce is the primary mode of transportation 
     for international trade, with ships carrying more than 80 
     percent of such trade, by volume.
       (5) Disruption of trade flowing through United States ports 
     could have a catastrophic impact on both the United States 
     and the world economies.
       (6) In addition to the economic importance of United States 
     ports, such ports form a

[[Page 4012]]

     critical link in the United States national security 
     structure, and are necessary to ensure that United States 
     military material can be effectively and quickly shipped to 
     any location where such material is needed.
       (7) Terrorist groups, including extremist groups such as al 
     Qaeda, are likely to consider, formulate, and execute plans 
     to conduct a terrorist strike against one or more of the 
     ports in the United States.
       (8) Terrorists have conducted attacks against maritime 
     commerce in the past, including the October 2002 attack on 
     the French oil tanker LIMBERG and the October 2000 attack on 
     the USS COLE in Yemen.
       (9) It is critical that port security be enhanced and 
     improved through the adoption of better formulated security 
     procedures, the adoption of new regulations and law, and 
     investment in long-term capital improvements to the structure 
     of the United States most critical ports.
       (10) Effective funding to provide adequate security at 
     United States ports requires a commitment to provide Federal 
     funds over multiple years to fund long-term capital 
     improvement projects.
       (b) Sense of the Senate.--It is the sense of the Senate 
     that--
       (1) the budget of the United States should provide adequate 
     funding for port security projects and not less than the 
     amount of such funding that is adequate to implement an 
     effective port security plan;
       (2) the implementation of the budget of the United States 
     should permit the provision of Federal funds over multiple 
     years to fund long-term security improvement projects at 
     ports in the United States; and
       (3) the Secretary of Homeland Security should, as soon as 
     practicable, develop a funding plan for port security that 
     permits funding over multiple years for such projects.
                                 ______
                                 
  SA 2754. Mrs. FEINSTEIN (for herself, Mr. Kyl, Mr. Bingaman, Mrs. 
Hutchison, Mr. Kennedy, Mr. Cornyn, Mrs. Boxer, Mr. Domenici, Mrs. 
Clinton, Mr. McCain, Mr. Schumer, Mr. Graham of Florida, Mr. 
Lautenberg, Ms. Cantwell, Mr. Corzine, Mr. Feingold, Mr. Edwards, and 
Mr. Alexander) submitted an amendment intended to be proposed by her to 
the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels for fiscal years 
2006 through 2009; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC.   . SENSE OF THE SENATE ON THE STATE CRIMINAL ALIEN 
                   ASSISTANCE PROGRAM.

       (a) Findings.--The Senate finds the following:
       (1) Control of illegal immigration is a Federal 
     responsibility.
       (2) The State Criminal Alien Assistance Program (SCAAP) 
     provides critical funding to States and localities for 
     reimbursement of costs incurred as a result of housing 
     undocumented criminal aliens.
       (3) In fiscal year 2003, however, State and local 
     governments spent at least $14,000,000,000 in costs 
     associated with the incarceration of undocumented criminal 
     aliens.
       (4) The Federal Government provided $248,000,000 in 
     appropriated funding to the State Criminal Alien Assistance 
     Program (SCAAP) to re imburse State and local governments for 
     these costs in fiscal year 2003.
       (5) The Federal Govermnent provided $300,000,000 in 
     appropriated funding to the State Criminal Alien Assistance 
     Program (SCAAP) to reimburse State and local governments for 
     these costs in fiscal year 2004.
       (6) In fiscal years 2003 and 2004, the Administration did 
     not request funding for the SCAAP program.
       (7) The Administration did not request funding for SCAAP in 
     its fiscal year 2005 budget.
       (b) Sense of the Senate.--It is the sense of the Senate 
     that the levels in this concurrent resolution assume that--
       (1) Congress fund the SCAAP program for $850,000,000 for 
     fiscal year 2005; and
       (2) Congress enact the long-term reauthorization of the 
     SCAAP program to reimburse State and local governments for 
     the burdens undocumented criminal aliens have placed on the 
     local criminal justice system.
                                 ______
                                 
  SA 2755. Mr. HATCH (for himself and Mr. Bingaman) submitted an 
amendment intended to be proposed by him to the bill S. 1637, to amend 
the Internal Revenue Code of 1986 to comply with the World Trade 
Organization rulings on the FSC/ETI benefit in a manner that preserves 
jobs and production activities in the United States, to reform and 
simplify the international taxation rules of the United States, and for 
other purposes; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC.   . EXCLUSION OF INCENTIVE STOCK OPTIONS AND EMPLOYEE 
                   STOCK PURCHASE PLAN STOCK OPTIONS FROM WAGES.

       (a) Exclusion From Employment Taxes.--
       (1) Social Security Taxes.--
       (A) Section 3121(a) of the Internal Revenue Code of 1986 
     (relating to definition of wages) is amended by striking 
     ``or'' at the end of paragraph (20), by striking the period 
     at the end of paragraph (21) and inserting ``; or'', and by 
     inserting after paragraph (21) the following new paragraph:
       ``(22) remuneration on account of--
       ``(A) a transfer of a share of stock to any individual 
     pursuant to an exercise of an incentive stock option (as 
     defined in section 422(b)) or under an employee stock 
     purchase plan (as defined in section 423(b)), or
       ``(B) any disposition by the individual of such stock.''
       (B) Section 209(a) of the Social Security Act is amended by 
     striking ``or'' at the end of paragraph (17), by striking the 
     period at the end of paragraph (18) and inserting ``; or'', 
     and by inserting after paragraph (18) the following new 
     paragraph:
       ``(19) Remuneration on account of--
       ``(A) a transfer of a share of stock to any individual 
     pursuant to an exercise of an incentive stock option (as 
     defined in section 422(b) of the Internal Revenue Code of 
     1986) or under an employee stock purchase plan (as defined in 
     section 423(b) of such Code), or ``(B) any disposition by the 
     individual of such stock.''
       (2) Railroad retirement Taxes.--Subsection (e) of section 
     3231 of such Code is amended by adding at the end the 
     following new paragraph:
       ``(12) Qualified stock options.--The term `compensation' 
     shall not include any remuneration on account of--
       ``(A) a transfer of a share of stock to any individual 
     pursuant to an exercise of an incentive stock option (as 
     defined in section 422(b)) or under an employee stock 
     purchase plan (as defined in section 423(b)), or
       ``(B) any disposition by the individual of such stock.''
       (3) Unemployment taxes.--Section 3306(b) of such Code 
     (relating to definition of wages) is amended by striking 
     ``or'' at the end of paragraph (17), by striking the period 
     at the end of paragraph (18) and inserting ``; or'', and by 
     inserting after paragraph (18) the following new paragraph:
       ``(19) remuneration on account of--
       ``(A) a transfer of a share of stock to any individual 
     pursuant to an exercise of an incentive stock option (as 
     defined in section 422(b)) or under an employee stock 
     purchase plan (as defined in section 423(b)), or
       ``(B) any disposition by the individual of such stock.''
       (b) Wage Withholding Not Required on Disqualifying 
     Dispositions.--Section 421(b) of the Internal Revenue Code of 
     1986 (relating to effect of disqualifying dispositions) is 
     amended by adding at the end the following new sentence: ``No 
     amount shall be required to be deducted and withheld under 
     chapter 24 with respect to any increase in income 
     attributable to a disposition described in the preceding 
     sentence.''
       (c) Wage Withholding Not Required on Compensation Where 
     Option Price is Between 85 Percent and 100 Percent of Value 
     of Stock.--Section 423(c) of the Internal Revenue Code of 
     1986 (relating to special rule where option price is between 
     85 percent and 100 percent of value of stock) is amended by 
     adding at the end the following new sentence: ``No amount 
     shall be required to be deducted and withheld under chapter 
     24 with respect to any amount treated as compensation under 
     this subsection.''
                                 ______
                                 
  SA 2756. Mr. HATCH (for himself, Mr. Breaux, and Mrs. Lincoln) 
submitted an amendment intended to be proposed by him to the bill S. 
1637, to amend the Internal Revenue Code of 1986 to comply with the 
World Trade Organization rulings on the FSC/ETI benefit in a manner 
that preserves jobs and production activities in the United States, to 
reform and simplify the international taxation rules of the United 
States, and for other purposes; which was ordered to lie on the table; 
as follows:

       At the appropriate place, insert the following:

      Subtitle  --Provisions Relating To S Corporation Reform and 
                             Simplification

       Part I--Maximum Number of Shareholders of an S Corporation

     SEC.  . MEMBERS OF FAMILY TREATED AS 1 SHAREHOLDER.

       (a) In General.--Paragraph (1) of section 1361 (c) 
     (relating to special rules for applying subsection (b)) is 
     amended to read as follows:
       ``(1) Members of family treated as 1 shareholder.--
       ``(A) In general.--For purpose of subsection (b)(1)(A)--
       ``(i) except as provided in clause (ii), a husband and wife 
     (and their estates) shall be treated as 1 shareholder, and
       ``(ii) in the case of a family with respect to which an 
     election is in effect under subparagraph (E), all members of 
     the family shall be treated as 1 shareholder.

[[Page 4013]]

       ``(B) Members of the family.--For purpose of subparagraph 
     (A)(ii), the term `members of the family' means the common 
     ancestor, lineal descendants of the common ancestor and the 
     spouses of such lineal descendants or common ancestor.
       ``(C) Common ancestor.--For purposes of this paragraph, an 
     individual shall not be considered a common ancestor if, as 
     of the later of the effective date of this paragraph or the 
     time the election under section 1362(a) is made, the 
     individual is more than 6 generations removed from the 
     youngest generation of shareholders.
       ``(D) Effect of adoption, etc.--In determining whether any 
     relationship specified in subparagraph (B) or (C) exists, the 
     rules of section 152(b)(2) shall apply.
       ``(E) Election.--An election under subparagraph (A)(ii)--
       ``(i) must be made with the consent of all persons who are 
     shareholders (including those that are family members) in the 
     corporation on the day the election is made,
       ``(ii) in the case of--
       ``(I) an electing small business trust, shall be made by 
     the trustee of the trust, and
       ``(II) a qualified subchapter S trust, shall be made by the 
     beneficiary of the trust,
       ``(iii) under regulations, shall remain in effect until 
     terminated, and
       ``(iv) shall apply only with respect to 1 family in any 
     corporation.''.
       (b) Relief From Inadvertent Invalid Election or 
     Termination.-- Section 1362(f) (relating to inadvertent 
     invalid elections or terminations), as amended by this Act, 
     is amended--
       (1) by inserting ``or under section 1361(c)(1)(A)(ii)'' 
     after ``section 1361(b)(3)(B)(ii)'' in paragraph (1), and
       (2) by inserting ``or under section 1361(c)(1)(E)(iii)'' 
     after ``section 1361(b)(3)(C)'' in paragraph (1)(B).
       (c) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after December 31, 
     2004.

     SEC.  . INCREASE IN NUMBER OF ELIGIBLE SHAREHOLDERS TO 100.

       (a) In General.--Section 1361(b)(1)(A) (defining small 
     business corporation) is amended by striking ``75'' and 
     inserting ``100''.
       (b) Effective Date.--The amendment made by this section 
     shall apply to taxable years beginning after December 31, 
     2004.

     SEC.  . NONRESIDENT ALIENS ALLOWED AS BENEFICIARIES OF AN 
                   ELECTING SMALL BUSINESS TRUST.

       (a) In General.--Section 1361(e)(1)(A)(i)(I) is amended by 
     inserting ``(including a nonresident alien individual)'' 
     after ``individual''.
       (b) Conforming Amendment.--Clause (v) of section 
     1361(c)(2)(B) is amended by adding at the end the following 
     new sentence: ``This clause shall not apply for purposes of 
     subsection (b)(1)(C).''.
       (c) Effective Date.--The amendments made by this section 
     shall take effect on the date of the enactment of this Act.

 Part II--Termination of Election and Additions to Tax Due to Passive 
                           Investment Income

     SEC.  . MODIFICATIONS TO PASSIVE INCOME RULES.

       (a) Increased Percentage Limit.--
       (1) In general.--Subsection (a)(2) of section 1375 
     (relating to tax imposed when passive investment income of 
     corporation having accumulated earnings and profits exceeds 
     25 percent of gross receipts) is amended by striking ``25 
     percent'' and inserting ``60 percent''.
       (2) Conforming Amendments.--
       (A) Section 26(b)(2)(J) is amended by striking ``25 
     percent'' and inserting ``60 percent''.
       (B) Section 1362(d)(3)(A)(i)(II) is amended by striking 
     ``25 percent'' and inserting ``60 percent''.
       (C) The heading for paragraph (3) of section 1362(d) is 
     amended by striking ``25 PERCENT'' and inserting ``60 
     PERCENT''.
       (D) Section 1375(b)(1)(A)(i) is amended by striking ``25 
     percent'' and inserting ``60 percent''.
       (E) The heading for section 1375 is amended by striking 
     ``25 percent'' and inserting ``60 percent.''
       (F) The table of sections for part III of subchapter S of 
     chapter 1 is amended by striking ``25 percent'' in the item 
     relating to section 1375 and inserting ``60 percent''.
       (b) Capital Gain Not Treated as Passive Investment 
     Income.--Section 1362(d)(3) is amended--
       (1) by striking ``annuities,'' and all that follows in 
     subparagraph (C)(i) and inserting ``and annuities.'', and
       (2) by striking subparagraphs (C)(iv) and (D) and by 
     redesignating subparagraph (E) as subparagraph (D).
       (c) Conforming Amendments.--Section 1375(d) is amended by 
     striking ``subchapter C'' both places it appears and 
     inserting ``accumulated''.
       (d) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after December 31, 
     2004.

           Part III--Treatment of S Corporation Shareholders

     SEC.  . TRANSFER OF SUSPENDED LOSSES INCIDENT TO DIVORCE.

       (a) In General.--Section 1366(d) (relating to special rules 
     for losses and deductions) is amended by adding at the end 
     the following new paragraph:
       ``(4) Transfer of suspended losses and deductions when 
     stock is transferred incident to divorce.--For purposes of 
     paragraph (2), the transfer of any shareholder's stock in an 
     S corporation incident to a decree of divorce shall include 
     any loss or deduction described in such paragraph 
     attributable to such stock.''
       (b) Effective Date.--The amendment made by this section 
     shall apply to transfers in taxable years beginning after 
     December 31, 2004.

     SEC.  . USE OF PASSIVE ACTIVITY LOSS AND AT-RISK AMOUNTS BY 
                   QUALIFIED SUBCHAPTER S TRUST INCOME 
                   BENEFICIARIES.

       (a) In General.--Section 1361(d)(1) (relating to special 
     rule for qualified subchapter S trust) is amended--
       (1) by striking ``and'' at the end of subparagraph (A),
       (2) by striking the period at the end of subparagraph (B) 
     and inserting ``, and'', and
       (3) by adding at the end the following new subparagraph:
       ``(C) for purposes of applying sections 465 and 469(g) to 
     the beneficiary of the trust, the disposition of the S 
     corporation stock by the trust shall be treated as a 
     disposition by such beneficiary.''.
       (b) Effective Date.--The amendments made by this section 
     shall apply to transfers in taxable years beginning after 
     December 31, 2004.

     SEC.  . DISREGARD OF UNEXERCISED POWERS OF APPOINTMENT IN 
                   DETERMINING POTENTIAL CURRENT BENEFICIARIES OF 
                   ESBT.

       (a) In General.--Section 1361(e)(2) (defining potential 
     current beneficiary) is amended by inserting ``(determined 
     without regard to any unexercised (in whole or in part) power 
     of appointment during such period)'' after ``of the trust'' 
     in the first sentence.
       (b) Effective Date.--The amendment made by this section 
     shall apply to taxable years beginning after December 31, 
     2004.

     SEC.  . CLARIFICATION OF ELECTING SMALL BUSINESS TRUST 
                   DISTRIBUTION RULES.

       (a) In General.--Section 641(c)(1) (relating to special 
     rules for taxation of electing small business trusts) is 
     amended--
       (1) by striking ``and'' at the end of subparagraph (A),
       (2) by redesignating subparagraph (B) as subparagraph (C), 
     and
       (3) by inserting after subparagraph (A) the following new 
     subparagraph:
       ``(B) any distribution attributable to the portion treated 
     as a separate trust shall be treated separately from any 
     distribution attributable to the portion not so treated, 
     and''.
       (b) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after December 31, 
     2004.

                 Part IV--Provisions Relating to Banks

     SEC.   . SALE OF STOCK IN IRA RELATING TO S CORPORATION 
                   ELECTION EXEMPT FROM PROHIBITED TRANSACTION 
                   RULES.

       (a) In General.--Section 4975(d) (relating to exemptions) 
     is amended by striking ``or'' at the end of paragraph (14), 
     by striking the period at the end of paragraph (15) and 
     inserting ``; or'', and by adding at the end the following 
     new paragraph:
       ``(16) a sale of stock held by a trust which constitutes an 
     individual retirement account under section 408(a) to the 
     individual for whose benefit such account is established if 
     such sale is pursuant to an election under section 
     1362(a).''.
       (b) Effective Date.--The amendments made by this section 
     shall apply to sales of stock held by individual retirement 
     accounts on the date of the enactment of this Act.

     SEC.   . EXCLUSION OF INVESTMENT SECURITIES INCOME FROM 
                   PASSIVE INCOME TEST FOR BANK S CORPORATIONS.

       (a) In General.--Section 1362(d)(3) (relating to where 
     passive investment income exceeds certain percentage of gross 
     receipts for 3 consecutive taxable years and corporation has 
     accumulated earnings and profits), as amended by this Act, is 
     amended by adding at the end the following new subparagraph:
       ``(E) Exception for Banks; etc.--In the case of a bank (as 
     defined in section 581), a bank holding company (as defined 
     in section 246A(c)(3)(B)(ii)), or a qualified subchapter S 
     subsidiary which is a bank, the term `passive investment 
     income' shall not include--
       ``(i) interest income earned by such bank, bank holding 
     company, or qualified subchapter S subsidiary, or
       ``(ii) dividends on assets required to be held by such 
     bank, bank holding company, or qualified subchapter S 
     subsidiary to conduct a banking business, including stock in 
     the Federal Reserve Bank, the Federal Home Loan Bank, or the 
     Federal Agricultural Mortgage Bank or participation 
     certificates issued by a Federal Intermediate Credit Bank.''.
       (b) Effective Date.--The amendment made by this section 
     shall apply to taxable years beginning after December 31, 
     2004.

     SEC.   . TREATMENT OF QUALIFYING DIRECTOR SHARES.

       (a) In General.--Section 1361 (defining S corporation) is 
     amended by adding at the end the following new subsection:
       ``(f) Treatment of Qualifying Director Shares.--

[[Page 4014]]

       ``(1) In General.--For purposes of this subchapter--
       ``(A) qualifying director shares shall not be treated as a 
     second class of stock, and
       ``(B) no person shall be treated as a shareholder of the 
     corporation by reason of holding qualifying director shares.
       ``(2) Qualifying director shares defined.--For purposes of 
     this subsection, the term `qualifying director shares' means 
     any shares of stock in a bank (as defined in section 581) or 
     in a bank holding company registered as such with the Federal 
     Reserve System--
       ``(i) which are held by an individual solely by reason of 
     status as a director of such bank or company or its 
     controlled subsidiary; and
       ``(ii) which are subject to an agreement pursuant to which 
     the holder is required to dispose of the shares of stock upon 
     termination of the holder's status as a director at the same 
     price as the individual acquired such shares of stock.
       ``(3) Distributions.--A distribution (not in part or full 
     payment in exchange for stock) made by the corporation with 
     respect to qualifying director shares shall be includable as 
     ordinary income of the holder and deductible to the 
     corporation as an expense in computing taxable income under 
     section 1363(b) in the year such distribution is received.''.
       (b) Conforming Amendment.--Section 1366(a) is amended by 
     adding at the end the following new paragraph:
       ``(3) Allocation with respect to qualifying director 
     shares.--The holders of qualifying director shares (as 
     defined in section 1361(f)) shall not, with respect to such 
     shares of stock, be allocated any of the items described in 
     paragraph (1).''.
       (c) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after December 31, 
     2004.

              Part V--Qualified Subchapter S Subsidiaries

     SEC.   . RELIEF FROM INADVERTENTLY INVALID QUALIFIED 
                   SUBCHAPTER S SUBSIDIARY ELECTIONS AND 
                   TERMINATIONS.

       (a) In General.--Section 1362(f) (relating to inadvertent 
     invalid elections or terminations) is amended--
       (1) by inserting ``or under section 1361(b)(3)(B)(ii)'' 
     after ``subsection (a)'' in paragraph (1),
       (2) by inserting ``or under section 1361(b)(3)(C)'' after 
     ``subsection (d)'' in paragraph (1)(B),
       (3) by inserting ``or a qualified subchapter S subsidiary, 
     as the case may be'' after ``small business corporation'' in 
     paragraph (3)(A),
       (4) by inserting ``or a qualified subchapter S subsidiary, 
     as the case may be'' after ``S corporation'' in paragraph 
     (4), and
       (5) by inserting ``or a qualified subchapter S subsidiary, 
     as the case may be'' after ``S corporation'' in the matter 
     following paragraph (4).
       (b) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after December 31, 
     2004.

     SEC.   . INFORMATION RETURNS FOR QUALIFIED SUBCHAPTER S 
                   SUBSIDIARIES.

       (a) In General.--Section 1361(b)(3)(A) (relating to 
     treatment of certain wholly owned subsidiaries) is amended by 
     inserting ``and in the case of information returns required 
     under part III of subchapter A of chapter 61'' after 
     ``Secretary''.
       (b) Effective Date.--The amendment made by this section 
     shall apply to taxable years beginning after December 31, 
     2004.

                     Part VI--Additional Provisions

     SEC.   . ELIMINATION OF ALL EARNINGS AND PROFITS ATTRIBUTABLE 
                   TO PRE-1983 YEARS.

       (a) In General.--Subsection (a) of section 1311 of the 
     Small Business Job Protection Act of 1996 is amended to read 
     as follows:
       ``(a) In General.--If a corporation was an electing small 
     business corporation under subchapter S of chapter 1 of the 
     Internal Revenue Code of 1986 for any taxable year beginning 
     before January 1, 1983, the amount of such corporation's 
     accumulated earnings and profits (as of the beginning of the 
     first taxable year beginning after December 31, 2003) shall 
     be reduced by an amount equal to the portion (if any) of such 
     accumulated earnings and profits which were accumulated in 
     any taxable year beginning before January 1, 1983, for which 
     such corporation was an electing small business corporation 
     under such subchapter S.''.
       (b) Effective Date.--The amendment made by this section 
     shall apply to taxable years beginning after December 31, 
     2004.
                                 ______
                                 
  SA 2757. Mr. FEINGOLD (for himself, Mr. Corzine, and Mr. Durbin) 
submitted an amendment intended to be proposed by him to the concurrent 
resolution S. Con. Res. 95, setting forth the congressional budget for 
the United States Government for fiscal year 2005 and including the 
appropriate budgetary levels for fiscal years 2006 through 2009; which 
was ordered to lie on the table; as follows:

       On page 3, line 9, increase the amount by $9,936,000,000.
       On page 3, line 10, increase the amount by $7,446,000,000.
       On page 3, line 11, increase the amount by $2,032,000,000.
       On page 3, line 12, increase the amount by $390,000,000.
       On page 3, line 13, increase the amount by $90,000,000.
       On page 3, line 17, increase the amount by $9,936,000,000.
       On page 3, line 18, increase the amount by $7,446,000,000.
       On page 3, line 19, increase the amount by $2,032,000,000.
       On page 3, line 20, increase the amount by $390,000,000.
       On page 3, line 21, increase the amount by $90,000,000.
       On page 4, line 20, increase the amount by $9,936,000,000.
       On page 4, line 21, increase the amount by $7,446,000,000.
       On page 4, line 22, increase the amount by $2,032,000,000.
       On page 4, line 23, increase the amount by $390,000,000.
       On page 4, line 24, increase the amount by $90,000,000.
       On page 5, line 3, increase the amount by $9,936,000,000.
       On page 5, line 4, increase the amount by $17,382,000,000.
       On page 5, line 5, increase the amount by $19,414,000,000.
       On page 5, line 6, increase the amount by $19,804,000,000.
       On page 5, line 7, increase the amount by $19,894,000,000.
       On page 5, line 11, increase the amount by $9,936,000,000.
       On page 5, line 12, increase the amount by $17,382,000,000.
       On page 5, line 13, increase the amount by $19,414,000,000.
       On page 5, line 14, increase the amount by $19,804,000,000.
       On page 5, line 15, increase the amount by $19,894,000,000.
       On page 31, line 7, strike $30,000,000,000 and replace with 
     $50,000,000,000.
                                 ______
                                 
  SA 2758. Mr. LAUTENBERG (for himself and Mr. Dorgan) submitted an 
amendment intended to be proposed by him to the concurrent resolution 
S. Con. Res. 95, setting forth the congressional budget for the United 
States Government for fiscal year 2005 and including the appropriate 
budgetary levels for fiscal years 2006 through 2009; which was ordered 
to lie on the table; as follows:

       On page 45, after line 13, insert the following:

     SEC. ___. POINT OF ORDER REQUIRING OFFSET FOR SUPPLEMENTAL 
                   APPROPRIATIONS FOR IRAQ RECONSTRUCTION.

       (a) Point of Order.--It shall not be in order in the Senate 
     to consider any supplemental appropriations bill (or any 
     motion, amendment, or conference report on any supplemental 
     appropriation bill) providing additional resources for 
     rehabilitation and reconstruction in Iraq unless the 
     resources provided in the bill, motion, amendment, or 
     conference report for such activities are fully offset in 
     that fiscal year.
       (b) Waiver and Appeal.--This section may be waived or 
     suspended in the Senate only by an affirmative vote of \3/5\ 
     of the members, duly chosen and sworn. An affirmative vote of 
     \3/5\ of the Members of the Senate, duly chosen and sworn, 
     shall be required in the Senate to sustain an appeal of the 
     ruling of the chair on a point of order raised under this 
     section.
                                 ______
                                 
  SA 2759. Mr. KOHL (for himself and Mr. Hatch) submitted an amendment 
intended to be proposed by him to the concurrent resolution S. Con. 
Res. 95, setting forth the congressional budget for the United States 
Government for fiscal year 2005 and including the appropriate budgetary 
levels for fiscal years 2006 through 2009; which was ordered to lie on 
the table; as follows:

       On page 20, line 17, increase the amount by $122,000,000.
       On page 20, line 18, increase the amount by $15,000,000.
       On page 20, line 22, increase the amount by $34,000,000.
       On page 21, line 1, increase the amount by $31,000,000.
       On page 21, line 5, increase the amount by $24,000,000.
       On page 21, line 9, increase the amount by $18,000,000.
       On page 23, line 5, decrease the amount by $122,000,000.
       On page 23, line 6, decrease the amount by $15,000,000.
       On page 23 line 10, decrease the amount by $34,000,000.
       On page 23, line 14, decrease the amount by $31,000,000.
       On page 23, line 18, decrease the amount by $24,000,000.
       On page 23, line 22, decrease the amount by $18,000,000.
                                 ______
                                 
  SA 2760. Mr. DORGAN submitted an amendment intended to be proposed by 
him to the concurrent resolution S.

[[Page 4015]]

Con. Res. 95, setting forth the congressional budget for the United 
States Government for fiscal year 2005 and including the appropriate 
budgetary levels for fiscal years 2006 through 2009; which was ordered 
to lie on the table; as follows:

       On page 3, line 9, increase the amount by $344,000,000.
       On page 3, line 10, increase the amount by $632,000,000.
       On page 3, line 11, increase the amount by $510,000,000.
       On page 3, line 12, increase the amount by $610,000,000.
       On page 3, line 13, increase the amount by $104,000,000.
       On page 3, line 17, increase the amount by $344,000,000.
       On page 3, line 18, increase the amount by $632,000,000.
       On page 3, line 19, increase the amount by $510,000,000.
       On page 3, line 20, increase the amount by $610,000,000.
       On page 3, line 21, increase the amount by $104,000,000.
       On page 4, line 4, increase the amount by $1,100,000,000.
       On page 4, line 12, increase the amount by $172,000,000.
       On page 4, line 13, increase the amount by $316,000,000.
       On page 4, line 14, increase the amount by $255,000,000.
       On page 4, line 15, increase the amount by $305,000,000.
       On page 4, line 16, increase the amount by $52,000,000.
       On page 4, line 20, increase the amount by $172,000,000.
       On page 4, line 21, increase the amount by $316,000,000.
       On page 4, line 22, increase the amount by $255,000,000.
       On page 4, line 23, increase the amount by $305,000,000.
       On page 4, line 24, increase the amount by $52,000,000.
       On page 5, line 3, increase the amount by $172,000,000.
       On page 5, line 4, decrease the amount by $488,000,000.
       On page 5, line 5, decrease the amount by $743,000,000.
       On page 5, line 6, decrease the amount by $1,048,000,000.
       On page 5, line 7, decrease the amount by $1,100,000,000.
       On page 5, line 11, decrease the amount by $172,000,000.
       On page 5, line 12, decrease the amount by $488,000,000.
       On page 5, line 13, decrease the amount by $743,000,000.
       On page 5, line 14, decrease the amount by $1,048,000,000.
       On page 5, line 15, decrease the amount by $1,000,000,000.
       On page 20, line 17, increase the amount by $1,100,000,000.
       On page 20, line 18, increase the amount by $172,000,000.
       On page 20, line 22, increase the amount by $316,000,000.
       On page 21, line 1, increase the amount by $255,000,000.
       On page 21, line 5, increase the amount by $305,000,000.
       On page 21, line 9, increase the amount by $52,000,000.
       On page 39, line 18, increase the amount by $1,100,000,000.
       On page 39, line 19, increase the amount by $172,000,000.
       On page 40, line 2, increase the amount by $316,000,000.
                                 ______
                                 
  SA 2761. Mr. DODD (for himself, Mrs. Murray, Mr. Corzine, Ms. 
Mikulski, and Mr. Bingaman) submitted an amendment intended to be 
proposed by him to the concurrent resolution S. Con. Res. 95, setting 
forth the congressional budget for the United States Government for 
fiscal year 2005 and including the appropriate budgetary levels for 
fiscal years 2006 through 2009; which was ordered to lie on the table; 
as follows:

       On pace 3, line 9, increase the amount by $120,000,000.
       On page 3, line 10, increase the amount by $98,000,000.
       On page 3, line 11, increase the amount by $14,000,000.
       On page 3, line 12, increase the amount by $5,000,000.
       On page 3, line 17, increase the amount by $120,000,000.
       On page 3, line 18, increase the amount by $98,000,000.
       On page 3, line 19, increase the amount by $14,000,000.
       On page 3, line 20, increase the amount by $5,000,000.
       On page 4, line 20, increase the amount by $120,000,000.
       On page 4, line 21, increase the amount by $98.000,000.
       On page 4, line 22, increase the amount by $14,000,000.
       On page 4, line 23, increase the amount by $5,000,000.
       On page 5, line 3, decrease the amount by $120,000,000.
       On page 5, line 4, decrease the amount by $218,000,000.
       On page 5, line 5, decrease the amount by $232,000,000.
       On page 5, line 6, decrease the amount by $237,000,000.
       On page 5, line 7, decrease the amount by $237,000,000.
       On page 5, line 11, decrease the amount by $120,000,000.
       On page 5, line 12, decrease the amount by $218,000,000.
       On page 5, line 13, decrease the amount by $232,000,000.
       On page 5, line 14, decrease the amount by $237,000,000.
       On page 5, line 15, decrease the amount by $237,000,000.
       At the end of Title III, insert the following:

     SEC. ___. RESERVE FUND FOR THE MATERNAL AND CHILD HEALTH 
                   BLOCK GRANT.

       The Chairman of the Committee on the Budget of the Senate 
     shall revise the aggregates, functional totals, allocations 
     to the Committee on Appropriations of the Senate, 
     discretionary spending limits, and other appropriate levels 
     and limits in this resolution by up to $120 million in budget 
     authority for fiscal year 2005, and by the amount of outlays 
     flowing therefrom in 2005 and subsequent years, for a bill, 
     joint resolution, motion, amendment, or conference report 
     that provides additional fiscal year 2005 discretionary 
     appropriations, in excess of levels provided in this 
     resolution, for the Maternal and Child Health Block Grant, 
     included in this resolution for the Department of Health and 
     Human Services.
                                 ______
                                 
  SA 2762. Mr. DODD (for himself, Mrs. Murray, Mr. Corzine, Ms. 
Stabenow, and Mr. Kohl) submitted an amendment intended to be proposed 
by him to the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels for fiscal years 
2006 through 2009; which was ordered to lie on the table; as follows:

       On page 3, line 9, increase the amount by $60,000,000.
       On page 3, line 10, increase the amount by $1,301,000,000.
       On page 3, line 11, increase the amount by $541,000,000.
       On page 3, line 12, increase the amount by $100,000,000.
       On page 3, line 17, increase the amount by $60,000,000.
       On page 3, line 18, increase the amount by $1,301,000,000.
       On page 3, line 19, increase the amount by $541,000,000.
       On page 3, line 20, increase the amount by $100,000,000.
       On page 4, line 20, increase the amount by $60,000,000.
       On page 4, line 21, increase the amount by $1,301,000,000.
       On page 4, line 22, increase the amount by $541,000,000.
       On page 4, line 23, increase the amount by $100,000,000.
       On page 5, line 3, decrease the amount by $60,000,000.
       On page 5, line 4, decrease the amount by $1,361,000,000.
       On page 5, line 5, decrease the amount by $1,902,000,000.
       On page 5, line 6, decrease the amount by $2,002,000,000.
       On page 5, line 7, decrease the amount by $2,002,000,000.
       On page 5; line 11, decrease the amount by $60,000,000.
       On page 5, line 12, decrease the amount by $1,361,000,000.
       On page 5, line 13, decrease the amount by $1,902,000,000.
       On page 5, line 14, decrease the amount by $2,002,000,000.
       On page 5, line 15, decrease the amount by $2,002,000,000.
       At the end of Title III, insert the following:

     SEC. ___. RESERVE FUND FOR THE 21ST CENTURY COMMUNITY 
                   LEARNING CENTERS PROGRAM.

       The Chairman of the Committee on the Budget of the Senate 
     shall revise the aggregates; functional totals, allocations 
     to the Committee on Appropriations of the Senate, 
     discretionary spending limits; and other appropriate levels 
     and limits in this resolution by up to $1,000,000,000 in 
     budget authority for fiscal year 2005, and by the amount of 
     outlays flowing therefrom in 2005 and subsequent years, for a 
     bill, joint resolution, motion, amendment, or conference 
     report that provides additional fiscal year 2005 
     discretionary appropriations, in excess of levels provided in 
     this resolution, for the 21st Century Community Learning 
     Centers program in the Department of Education.
                                 ______
                                 
  SA 2763. Mr. BREAUX (for himself and Mr. Lott) submitted an amendment 
intended to be proposed by him to the bill S. 1637, to amend the 
Internal Revenue Code of 1986 to comply with the World Trade 
Organization rulings on the FSC/ETI benefit in a manner that preserves 
jobs and production

[[Page 4016]]

activities in the United States, to reform and simplify the 
international taxation rules of the United States, and for other 
purposes; which was ordered to lie on the table; as follows:

       On page 146, after line 23, add the following:

     SEC. __. REPEAL OF FOREIGN BASE COMPANY SHIPPING INCOME FOR 
                   QUALIFIED U.S. FLAG FLEETS AND CARIBBEAN BASIN 
                   SHIPPING CORPORATIONS.

       (a) In General.--Subsection (f) of section 954 is amended 
     to read as follows:
       ``(f) Foreign Base Company Shipping Income.--For purposes 
     of subsection (a)(4)--
       ``(1) In General.--The term `foreign base company shipping 
     income' means income derived from, or in connection with, the 
     use (or hiring or leasing for use) of any aircraft or vessel 
     in foreign commerce, or from, or in connection with, the 
     performance of services directly related to the use of any 
     such aircraft, or vessel, or from the sale, exchange, or 
     other disposition of any such aircraft or vessel. Such term 
     includes, but is not limited to--
       ``(A) dividends and interest received from a foreign 
     corporation in respect of which taxes are deemed paid under 
     section 902, and gain from the sale, exchange, or other 
     disposition of stock or obligations of such a foreign 
     corporation to the extent that such dividends, interest, and 
     gains are attributable to foreign base company shipping 
     income, and
       ``(B) that portion of the distributive share of the income 
     of a partnership attributable to foreign base company 
     shipping income.

     Such term includes any income derived from a space or ocean 
     activity (as defined in section 863(d)(2)). Except as 
     provided in subparagraph (A), such term shall not include any 
     dividend or interest income which is foreign personal holding 
     company income (as defined in subsection (c)).
       ``(2) Exceptions.--
       ``(A) In general.--Such term shall not include income 
     attributable to a qualified U.S.-flag fleet or a Caribbean 
     Basin shipping corporation.
       ``(B) Qualified u.s.-flag fleet.--For purposes of this 
     subsection, the term `qualified U.S.-flag fleet' means a 
     fleet or 2 or vessels each of which--
       ``(i) is documented under the laws of the United States,
       ``(ii) has a deadweight tonnage of not less than 10,000 
     deadweight tons,
       ``(iii) are owned by a member of the controlled group 
     (within the meaning of section 1563) of the controlled 
     foreign corporation, and
       ``(iv) has been in operation for not less than 320 days 
     during the preceding taxable year.

     For purposes of clause (iv), days during which a vessel is 
     dry docked or undergoing survey, inspection, or repair shall 
     be considered to be days during which the vessel is operated.
       ``(C) Caribbean basin shipping corporation.--For purposes 
     of this subsection--
       ``(i) In general.--The term `Caribbean Basin shipping 
     corporation' means a corporation of which 75 percent of the 
     foreign base company shipping income (as defined in paragraph 
     (1)) for the taxable year is Caribbean Basin shipping income.
       ``(ii) Caribbean basin shipping income.--The term 
     `Caribbean Basin shipping income' means foreign base company 
     shipping income (as defined in paragraph (1)) derived from or 
     in connection with the operation of any nonpassenger vessel 
     in foreign commerce--

       ``(I) within any Caribbean Basin country,
       ``(II) among Caribbean Basin countries, or
       ``(III) between any Caribbean Basin country and the United 
     States.

     Such term includes any such foreign base company shipping 
     income derived from that portion of any transshipping 
     originating or terminating in any country which is not a 
     Carribean Basin country if such transshipping otherwise 
     satisfies the requirements of this clause.
       ``(iii) Caribbean basin country.--The term `Caribbean Basin 
     country' means any beneficiary country (within the meaning of 
     section 212(a)(1)(A) of the Caribbean Basin Economic Recovery 
     Act), except that such term shall also include Anguilla, 
     Colombia, Mexico, the United States Virgin Islands, and 
     Venezuela.''.

     SEC. __. INCOME OF MERCHANT SEAMAN EXCLUDABLE FROM GROSS 
                   INCOME AS FOREIGN EARNED INCOME.

       (a) In General.--Chapter 1 is amended by inserting after 
     subchapter Q the following new subchapter:

   ``Subchapter R--Election to Determine Taxable Income From Certain 
          International Shipping Activities Using per Ton Rate

``Sec. 1352. Alternative tax on qualifying shipping activities.
``Sec. 1353. Taxable income from qualifying shipping activities.
``Sec. 1354. Qualifying shipping tax election; revocation; termination.
``Sec. 1355. Definitions and special rules.
``Sec. 1356. Qualifying shipping activities.
``Sec. 1357. Items not subject to regular tax; depreciation; interest.
``Sec. 1358. Allocation of credits, income, and deductions.
``Sec. 1359. Disposition of qualifying shipping assets.

     ``SEC. 1352. ALTERNATIVE TAX ON QUALIFYING SHIPPING 
                   ACTIVITIES.

       ``(a) In General.--In the case of an electing corporation--
       ``(1) the taxable income of such corporation from 
     qualifying shipping activities shall be the amount determined 
     under this subchapter, and
       ``(2) the corporate percentages of the items of income, 
     gain, loss, deduction, or credit of such corporation and of 
     other members of the electing group of such corporation which 
     would otherwise be taken into account by reason of its 
     qualifying shipping activities shall be taken into account to 
     the extent provided in section 1357.
       ``(b) Alternative Tax.--The taxable income of an electing 
     corporation from qualifying shipping activities, if otherwise 
     taxable under section 11, 882, or 887, shall be subject to 
     tax only under this section at the maximum rate specified in 
     section 11(b).
       ``(c) Transfers to Federal Vessel Financing Fund.--The 
     Secretary of the Treasury shall transfer to the Federal 
     Vessel Financing Fund created under title XI of the Merchant 
     Marine Act, 1936, the taxes collected under subsection (b). 
     Notwithstanding the preceding sentence, the income of a 
     foreign corporation shall not be subject to tax under this 
     subchapter to the extent its income is excludable from gross 
     income under section 883(a)(1) or section 894(a).

     ``SEC. 1353. TAXABLE INCOME FROM QUALIFYING SHIPPING 
                   ACTIVITIES.

       ``(a) In General.--For purposes of this subchapter, the 
     taxable income of an electing corporation from qualifying 
     shipping activities shall be its corporate income percentage 
     of the sum of the amounts determined under subsection (b) for 
     each qualifying vessel operated by such electing corporation 
     or other electing entity.
       ``(b) Amounts.--For purposes of subsection (a), the amount 
     of taxable income of an electing entity for each qualifying 
     vessel shall equal the product of--
       ``(1) the daily notional taxable income from the operation 
     of the qualifying vessel in United States foreign trade, and
       ``(2) the number of days during the taxable year that the 
     electing entity operated such vessel as a qualifying vessel 
     in United States foreign trade.
       ``(c) Daily Notional Taxable Income.--For purposes of 
     subsection (b), the daily notional taxable income from the 
     operation of a qualifying vessel is--
       ``(1) 40 cents for each 100 tons of the net tonnage of the 
     vessel below 25,001 net tons, and
       ``(2) 20 cents for each 100 tons of the net tonnage of the 
     vessel in excess of 25,000 net tons.
       ``(d) Multiple Operators of Vessel.--If 2 or more persons 
     have a joint interest in a qualifying vessel and are 
     considered as operators of that vessel, the taxable income 
     from the operation of such vessel for that time (as 
     determined under this section) shall be allocated among such 
     persons on the basis of their ownership and charter interests 
     in such vessel or on such other basis as the Secretary may 
     prescribe by regulations.
       ``(e) Noncorporate Percentage.--Notwithstanding any 
     contrary provision of this subchapter, the noncorporate 
     percentage of any item of income, gain, loss, deduction, or 
     credit of any member of an electing group shall be taken into 
     account for all purposes of this subtitle as if this 
     subchapter were not in effect.

     ``SEC. 1354. QUALIFYING SHIPPING TAX ELECTION; REVOCATION; 
                   TERMINATION.

       ``(a) In General.--Except as provided in subsections (b) 
     and (f), a qualifying shipping tax election may be made in 
     respect of any qualifying entity.
       ``(b) Condition of Election.--An election may be made by a 
     member of a controlled group under this subsection for any 
     taxable year only if all qualifying entities that are members 
     of the controlled group join in the election.
       ``(c) When Made.--An election under subsection (a) may be 
     made by a qualifying entity in such form as prescribed by the 
     Secretary. Such election shall be filed with the qualifying 
     entity's return for the first taxable year to which the 
     election shall apply, by the due date for such return 
     (including any applicable extensions).
       ``(d) Years for Which Effective.--An election under 
     subsection (a) shall be effective for the taxable year of the 
     qualifying entity for which it is made and for all succeeding 
     taxable years of the entity, until such election is 
     terminated under subsection (e).
       ``(e) Termination.--
       ``(1) By revocation.--
       ``(A) In general.--An election under subsection (a) may be 
     terminated by revocation.
       ``(B) When effective.--Except as provided in subparagraph 
     (C)--
       ``(i) a revocation made during the taxable year and on or 
     before the fifteenth day of the third month thereof shall be 
     effective on the 1st day of such taxable year, and
       ``(ii) a revocation made during the taxable year but after 
     such fifteenth day shall be effective on the first day of the 
     following taxable year.
       ``(C) Revocation may specify prospective date.--If the 
     revocation specifies a date for

[[Page 4017]]

     revocation which is on or after the day on which the 
     revocation is made, the revocation shall be effective on and 
     after the date so specified.
       ``(2) By entity ceasing to be qualifying entity.--
       ``(A) In general.--An election under subsection (a) shall 
     be terminated whenever (at any time on or after the first day 
     of the first taxable year for which the entity is an electing 
     entity) such entity ceases to be a qualifying entity.
       ``(B) When effective.--Any termination under this paragraph 
     shall be effective on and after the date of cessation.
       ``(f) Election After Termination.--If a qualifying entity 
     has made an election under subsection (a) and if such 
     election has been terminated under subsection (e), such 
     entity (and any successor entity) shall not be eligible to 
     make an election under subsection (a) for any taxable year 
     before its fifth taxable year which begins after the first 
     taxable year for which such termination is effective, unless 
     the Secretary consents to such election.

     ``SEC. 1355. DEFINITIONS AND SPECIAL RULES.

       ``(a) Definitions.--For purposes of this subchapter:
       ``(1) Controlled group.--The term `controlled group' means 
     any group of trusts and business entities whose members would 
     be treated as a single employer under the rules of section 
     52(a) (without regard to paragraphs (1) and (2) thereof) and 
     section 52(b)(1).
       ``(2) Corporate income percentage.--The term `corporate 
     income percentage' means the least aggregate share, expressed 
     as a percentage, of any item of income or gain of an electing 
     corporation or electing group of which such corporation is a 
     member from qualifying shipping activities that would, but 
     for an election in effect under this subchapter, be required 
     to be reported on the Federal income tax return of an 
     electing corporation during any taxable period. In the case 
     of an electing group which includes 2 or more electing 
     corporations, the corporate income percentage of each such 
     corporation shall be determined on the basis of such 
     corporation's direct and indirect ownership and charter 
     interests in qualifying vessels of the electing group or on 
     such other basis as the Secretary may prescribe by 
     regulations.
       ``(3) Corporate loss percentage.--The term `corporate loss 
     percentage' means the greatest aggregate share, expressed as 
     a percentage, of any item of loss, deduction, or credit of an 
     electing corporation or electing group of which such 
     corporation is a member from qualifying shipping activities 
     that would, but for an election in effect under this 
     subchapter, be required to be reported on the Federal income 
     tax return of an electing corporation during any taxable 
     period.
       ``(4) Corporate percentages.--The term `corporate 
     percentages' means the corporate income percentage and the 
     corporate loss percentage.
       ``(5) Electing corporation.--The term `electing 
     corporation' means any C corporation that is an electing 
     entity or that would, but for an election in effect under 
     this subchapter, be required to report any item of income, 
     gain, loss, deduction, or credit of an electing entity on its 
     Federal income tax return.
       ``(6) Electing entity.--The term `electing entity' means 
     any qualifying entity for which an election is in effect 
     under this subchapter.
       ``(7) Electing group.--The term `electing group' means a 
     controlled group of which one or more members is an electing 
     entity.
       ``(8) Noncorporate percentage.--The term `noncorporate 
     percentage' means the difference between 100 percent and the 
     corporate income percentage or corporate loss percentage, as 
     applicable.
       ``(9) Qualifying entity.--The term `qualifying entity' 
     means a trust or business entity that--
       ``(A) operates 1 or more qualifying vessels, and
       ``(B) meets the shipping activity requirement in subsection 
     (c).
       ``(10) Qualifying shipping assets.--The term `qualifying 
     shipping assets' means any qualifying vessel and other assets 
     which are used in core qualifying activities as described in 
     section 1356(b).
       ``(11) Qualifying vessel.--The term `qualifying vessel' 
     means a self-propelled (or a combination self-propelled and 
     non-self-propelled) United States flag vessel of not less 
     than 10,000 deadweight tons used in the United States foreign 
     trade.
       ``(12) United states domestic trade.--The term `United 
     States domestic trade' means the transportation of goods or 
     passengers between places in the United States.
       ``(13) United states flag vessel.--The term `United States 
     flag vessel' means any vessel documented under the laws of 
     the United States.
       ``(14) United states foreign trade.--The term `United 
     States foreign trade' means the transportation of goods or 
     passengers between a place in the United States and a foreign 
     place or between foreign places.
       ``(b) Operating a Vessel.--For purposes of this subchapter:
       ``(1) Except as provided in paragraph (2), an entity is 
     treated as operating any vessel owned by, or chartered 
     (including a time charter) to, the entity.
       ``(2) An entity is treated as operating a vessel that it 
     has chartered out on bareboat charter terms only if--
       ``(A) the vessel is temporarily surplus to the entity's 
     requirements and the term of the charter does not exceed 3 
     years; or
       ``(B) the vessel is bareboat chartered to a member of a 
     controlled group which includes such entity or to an 
     unrelated third party that sub-bareboats or time charters the 
     vessel to a member of such controlled group (including the 
     owner).
       ``(c) Shipping Activity Requirement.--For purposes of this 
     section, the shipping activity requirement is met for a 
     taxable year only by an entity described in paragraph (1), 
     (2), or (3).
       ``(1) An entity in the first taxable year of its qualifying 
     shipping tax election if, for the preceding taxable year, the 
     test in paragraph (4) is met.
       ``(2) An entity in the second or any subsequent taxable 
     year of its qualifying shipping tax election if, for each of 
     the 2 preceding taxable years, the test in paragraph (4) is 
     met.
       ``(3) An entity that would be described in paragraph (1) or 
     (2) if the test in paragraph (4) were applied on an aggregate 
     basis to the controlled group of which such entity is a 
     member, and vessel charters between members of the controlled 
     group were disregarded.
       ``(4) The test in this paragraph is met if on average at 
     least 25 percent of the aggregate tonnage of qualifying 
     vessels operated by the entity were owned by the entity or 
     chartered to the entity on bareboat charter terms. For 
     purposes of the preceding sentence, vessels chartered 
     (including time chartered) to an entity by a member of a 
     controlled group which includes the entity, or by a third 
     party that bareboat charters the vessels from the entity or a 
     member of the entity's controlled group, shall be treated as 
     chartered to the entity on bareboat charter terms.
       ``(d) Effect of Temporarily Ceasing To Operate a Qualifying 
     Vessel.--
       ``(1) A temporary cessation by an electing entity, in 
     operation of a qualifying vessel shall be disregarded for 
     purposes of subsections (b) and (c) until an occurrence 
     described in paragraph (3) if the electing entity gives 
     timely notice to the Secretary stating--
       ``(A) that it has temporarily ceased to operate the 
     qualifying vessel, and
       ``(B) its intention to resume operating the qualifying 
     vessel.
       ``(2) Notice shall be deemed timely if given not later than 
     the due date (including extensions) for the electing entity's 
     tax return (as set forth in section 6072(b)) for the taxable 
     year in which the temporary cessation begins.
       ``(3) The disregard provided by paragraph (1) continues 
     until the earlier to occur of--
       ``(A) the electing entity abandoning its intention to 
     resume operation of the qualifying vessel, or
       ``(B) the electing entity resuming operation of the 
     qualifying vessel.
       ``(e) Effect of Temporarily Operating a Qualifying Vessel 
     in the United States Domestic Trade.--
       ``(1) The temporary operation in the United States domestic 
     trade of any qualifying vessel which had been used in the 
     United States foreign trade shall be disregarded for purposes 
     of this subchapter until an occurrence described in paragraph 
     (3) if the electing entity gives timely notice to the 
     Secretary stating--
       ``(A) that it temporarily operates or has operated in the 
     United States domestic trade a qualifying vessel which had 
     been used in the United States foreign trade, and
       ``(B) its intention to resume operation of the vessel in 
     the United States foreign trade.
       ``(2) Notice shall be deemed timely if given not later than 
     the due date (including extensions) for the electing entity's 
     tax return (as set forth in section 6072(b)) for the taxable 
     year in which the temporary cessation begins.
       ``(3) The disregard provided by paragraph (1) continues 
     until the earlier to occur of--
       ``(A) the electing entity abandoning its intention to 
     resume operations of the vessel in the United States foreign 
     trade, or
       ``(B) the electing entity resuming operation of the vessel 
     in the United States foreign trade.
       ``(f) Effect of Change in Use.--
       ``(1) Except as provided in subsection (e), a vessel that 
     is used other than for operations in the United States 
     foreign trade on other than a temporary basis ceases to be a 
     qualifying vessel when such use begins.
       ``(2) For purposes of this subsection, a change in use of a 
     vessel, other than a commencement of operation in the United 
     States domestic trade, is taken to be permanent unless there 
     are circumstances indicating that it is temporary.
       ``(g) Regulations.--The Secretary shall prescribe such 
     regulations as may be necessary or appropriate to carry out 
     the purposes of this section.

     ``SEC. 1356. QUALIFYING SHIPPING ACTIVITIES.

       ``(a) Qualifying Shipping Activities.--For purposes of this 
     subchapter, the term `qualifying shipping activities' means 
     the activities of an electing entity which consist of--
       ``(1) its core qualifying activities,

[[Page 4018]]

       ``(2) its qualifying secondary activities, and
       ``(3) its qualifying incidental activities.
       ``(b) Core Qualifying Activities.--
       ``(1) The core qualifying activities of an electing entity 
     are--
       ``(A) its activities in operating qualifying vessels in 
     United States foreign trade, and
       ``(B) other activities of the electing entity and other 
     members of its electing group that are an integral part of 
     its business of operating qualifying vessels in United States 
     foreign trade, including ownership or operation of barges, 
     containers, chassis, and other equipment that are the 
     complement of, or used in connection with, a qualifying 
     vessel in United States foreign trade, the inland haulage of 
     cargo shipped, or to be shipped, on qualifying vessels in 
     United States foreign trade, and the provision of terminal, 
     maintenance, repair, logistical, or other vessel, container, 
     or cargo-related services that are an integral part of 
     operating qualifying vessels in United States foreign trade.
       ``(2) Core qualifying activities do not include the 
     provision by an entity of facilities or services to any 
     person, other than--
       ``(A) another member of such entity's electing group,
       ``(B) a consignor, consignee, or other customer of such 
     entity's business of operating qualifying vessels in United 
     States foreign trade, or
       ``(C) a member of an alliance, joint venture, pool, 
     partnership, or similar undertaking involving the operation 
     of qualifying vessels in United States foreign trade of which 
     such entity is a member.
       ``(c) Qualifying Secondary Activities.--For purposes of 
     this subsection--
       ``(1) the term `secondary activities' means activities that 
     are not core qualifying activities, and--
       ``(A) are the active management or operation of vessels in 
     the United States foreign trade,
       ``(B) the provision of vessel, container, or cargo-related 
     facilities or services to any person, or
       ``(C) such other activities as may be prescribed by the 
     Secretary pursuant to regulations, and
       ``(2) the qualified secondary activities of an electing 
     entity are its secondary activities and the secondary 
     activities of other members of its electing group, but only 
     to the extent that, without regard to this subchapter, the 
     aggregate gross income derived by the electing entity and the 
     other members of its electing group from such activities does 
     not exceed 20 percent of the aggregate gross income derived 
     by the electing entity and the other members of its electing 
     group from their core qualifying activities.
       ``(d) Qualifying Incidental Activities.--Shipping-related 
     activities carried on by an electing entity or another member 
     of its electing group are qualified incidental activities of 
     the electing entity if--
       ``(1) they are incidental to its core qualifying 
     activities,
       ``(2) they are not qualifying secondary activities, and
       ``(3) without regard to this subchapter, the aggregate 
     gross income derived by the electing entity and other members 
     of its electing group from such activities does not exceed 
     0.1 percent of such entities' aggregate gross income from 
     their core qualifying activities.

     ``SEC. 1357. ITEMS NOT SUBJECT TO REGULAR TAX; DEPRECIATION; 
                   INTEREST.

       ``(a) Exclusion From Gross Income.--Gross income of an 
     electing entity shall not include the corporate income 
     percentage of--
       ``(1) its income from qualifying shipping activities in the 
     United States foreign trade,
       ``(2) its income from money, bank deposits, and other 
     temporary investments which are reasonably necessary to meet 
     the working capital requirements of its qualifying shipping 
     activities, and
       ``(3) its income from money or other intangible assets 
     accumulated pursuant to a plan to purchase qualifying 
     shipping assets.
       ``(b) Electing Group Member.--Gross income of a member of 
     an electing group that is not an electing entity shall not 
     include the corporate income percentage of its income from 
     qualifying shipping activities that are taken into account 
     under this subchapter as qualifying shipping activities of an 
     electing entity.
       ``(c) Denial of Losses, Deductions, and Credits.--
       ``(1) General rule.--Subject to paragraph (2), the 
     corporate loss percentage of each item of loss, deduction 
     (other than for interest expense), or credit of any taxpayer 
     with respect to any activity the income from which is 
     excluded from gross income under this section shall be 
     disallowed.
       ``(2) Depreciation.--Notwithstanding paragraph (1), the 
     deduction for depreciation of a qualifying shipping asset 
     shall be allowed in determining the adjusted basis of such 
     asset for purposes of determining gain from its disposition.
       ``(A) Except as provided in subparagraph (B), the straight 
     line method of depreciation shall apply to the corporate 
     income percentage of qualifying shipping assets the income 
     from operation of which is excluded from gross income under 
     this section.
       ``(B) Subparagraph (A) shall not apply to any qualifying 
     shipping asset which is subject to a charter entered into 
     prior to the effective date of this subchapter.
       ``(3) Interest.--The corporate loss percentage of an 
     electing entity's interest expense shall be disallowed in the 
     ratio that the fair market value of its qualifying vessel 
     assets bears to the fair market value of its total assets.
       ``(d) Section Inapplicable to Unrelated Persons.--This 
     section shall not apply to a taxpayer that is not a member of 
     an electing group.

     ``SEC. 1358. ALLOCATION OF CREDITS, INCOME, AND DEDUCTIONS.

       ``(a) Qualifying Shipping Activities.--For purposes of this 
     chapter the qualifying shipping activities of an electing 
     entity shall be treated as a separate trade or business 
     activity distinct from all other activities conducted by the 
     entity.
       ``(b) Exclusion of Credits or Deductions.--
       ``(1) No deduction shall be allowed against the taxable 
     income of an electing corporation from qualifying shipping 
     activities, and no credit shall be allowed against the tax 
     imposed by section 1352(b).
       ``(2) No deduction shall be allowed for any net operating 
     loss attributable to the qualifying shipping activities of a 
     corporation to the extent that such loss is carried forward 
     by the corporation from a taxable year preceding the first 
     taxable year for which such corporation was an electing 
     corporation.
       ``(c) Transactions not at Arm's Length.--Section 482 
     applies in accordance with this subsection to a transaction 
     or series of transactions--
       ``(1) as between an electing entity and another person, or
       ``(2) as between an entity's qualifying shipping activities 
     and other activities carried on by it.

     ``SEC. 1359. DISPOSITION OF QUALIFYING SHIPPING ASSETS.

       ``(a) In General.--If an electing entity sells or disposes 
     of qualifying shipping assets (as defined in subsection (c)) 
     in an otherwise taxable transaction, at the election of the 
     entity no gain shall be recognized if replacement qualifying 
     shipping assets are acquired during the period specified in 
     subsection (b), except to the extent that the amount realized 
     upon such sale or disposition exceeds the cost of the 
     replacement qualifying shipping assets.
       ``(b) Period Within Which Property Must Be Replaced.--The 
     period referred to in subsection (a) shall be the period 
     beginning 1 year prior to the disposition of the qualifying 
     shipping assets and ending--
       ``(1) 3 years after the close of the first taxable year in 
     which the gain is realized, or
       ``(2) subject to such terms and conditions as may be 
     specified by the Secretary, on such later date as the 
     Secretary may designate on application by the taxpayer. Such 
     application shall be made at such time and in such manner as 
     the Secretary may by regulations prescribe.
       ``(c) Time for Assessment of Deficiency Attributable to 
     Gain.--If an electing entity has made the election provided 
     in subsection (a), then--
       ``(1) the statutory period for the assessment of any 
     deficiency, for any taxable year in which any part of the 
     gain is realized, attributable to such gain shall not expire 
     prior to the expiration of 3 years from the date the 
     Secretary is notified by the entity (in such manner as the 
     Secretary may by regulations prescribe) of the replacement 
     tonnage tax property or of an intention not to replace, and
       ``(2) such deficiency may be assessed before the expiration 
     of such 3-year period notwithstanding the provisions of 
     section 6212(c) or the provisions of any other law or rule of 
     law which would otherwise prevent such assessment.
       ``(d) Basis of Replacement Qualifying Shipping Assets.--In 
     the case of replacement qualifying shipping assets purchased 
     by an electing entity which resulted in the nonrecognition of 
     any part of the gain realized as the result of a sale or 
     other disposition of qualifying shipping assets, the basis 
     shall be the cost of such property decreased in the amount of 
     the gain not so recognized; and if the property purchased 
     consists of more than 1 piece of property, the basis 
     determined under this sentence shall be allocated to the 
     purchased properties in proportion to their respective costs.
       ``(e) Replacement Qualifying Shipping Assets Must Be 
     Acquired From Unrelated Person in Certain Cases.--
       ``(1) In general.--Subsection (a) shall not apply if the 
     replacement qualifying shipping assets are acquired from a 
     related person except to the extent that the related person 
     acquired the replacement qualifying shipping assets from an 
     unrelated person during the period applicable under 
     subsection (b).
       ``(2) Related person.--For purposes of this subsection, a 
     person is related to another person if the person bears a 
     relationship to the other person described in section 267(b) 
     or 707(b)(1).''.
       (b) Technical and Conforming Amendment.--The second 
     sentence of section 56(g)(4)(B)(i) is amended by striking 
     ``or under section 114.'' and inserting ``, under section 114 
     or under section 1357.''.
       (c) Clerical Amendment.--The table of subchapters for 
     chapter 1 is amended by inserting after the item relating to 
     subchapter Q the following new item:


[[Page 4019]]


``Subchapter A. Election To Determine Taxable Income From Certain 
              International Shipping Activities Using per Ton Rate.''.

       (d) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after the date of the 
     enactment of this Act.

     SEC. __. INCOME OF MERCHANT SEAMAN EXCLUDABLE FROM GROSS 
                   INCOME AS FOREIGN EARNED INCOME.

       (a) In General.--Section 911(d) (relating to citizens or 
     residents of the United States living abroad) is amended by 
     redesignating paragraph (9) as paragraph (10) and by 
     inserting after paragraph (8) the following:
       ``(9) Application to certain merchant marine crews.--In 
     applying this section to an individual who is a citizen or 
     resident of the United States and who is employed for a 
     minimum of 90 days during a taxable year as a regular member 
     of the crew of a qualified vessel (as defined in section 
     1355)--
       ``(A) the individual shall be treated as a qualified 
     individual without regard to the requirements of paragraph 
     (1), and
       ``(B) any earned income attributable to services performed 
     by that individual so employed on such a vessel while it is 
     engaged in transportation between the United States and a 
     foreign country or possession of the United States shall be 
     treated (except as provided by subsection (b)(1)(B)) as 
     foreign earned income regardless of the source of such 
     income.''.
       (b) Effective Date.--The amendment made by this section 
     shall apply to taxable years beginning after the date of the 
     enactment of this Act.
                                 ______
                                 
  SA 2764. Mr. BREAUX (for himself and Mr. Hatch) submitted an 
amendment intended to be proposed by him to the bill S. 1637, to amend 
the Internal Revenue Code of 1986 to comply with the World Trade 
Organization rulings on the FSC/ETI benefit in a manner that preserves 
jobs and production activities in the United States, to reform and 
simplify the international taxation rules of the United States, and for 
other purposes; which was ordered to lie on the table; as follows:

       On page 179, after line 25, add the following:

     SEC. __. REPEAL OF 10 YEAR RULE FOR QUALIFIED MORTGAGE BONDS; 
                   HOLIDAY FOR USE OF CERTAIN REPAYMENTS.

       (a) Repeal.--Subparagraph (A) of section 143(a)(2) 
     (relating to qualified mortgage issue defined) is amended by 
     striking the last sentence thereof.
       (b) Holiday for Prepayments.--Subparagraph (A) of section 
     143(a)(2) is amended by adding at the end the following flush 
     sentence: ``Clause (iv) shall not apply to amounts received 
     during 2004, 2005, and 2006.''.
       (c) Effective Dates.--
       (1) Subsection (a).--The amendment made by subsection (a) 
     shall apply to bonds issued after the date of the enactment 
     of this Act.
       (2) Subsection (b).--The amendment made by subsection (b) 
     shall apply to amounts received after December 31, 2003.
                                 ______
                                 
  SA 2765. Mr. BINGAMAN submitted an amendment intended to be proposed 
by him to the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels for fiscal years 
2006 through 2009; which was ordered to lie on the table; as follows:

       On page 45, after line 13, insert the following:

     SEC. ___. POINT OF ORDER REQUIRING THAT INCREASES THE NUMBER 
                   OF TAXPAYERS AFFECTED BY THE ALTERNATIVE 
                   MINIMUM TAX AGAINST LEGISLATION.

       (a) Point of Order in the Senate.--It shall not be in order 
     in the Senate to consider a bill, amendment, motion, joint 
     resolution, or conference report that increases the number of 
     taxpayers affected by the alternative minimum tax, except for 
     a measure that extends expiring provisions relating to the 
     child audit, the 10 percent tax bracket, and the marriage 
     penalty.
       (b) Supermajority Waiver and Appeal.--This section may be 
     waived or suspended in the Senate only by an affirmative vote 
     of \3/5\ of the Members, duly chosen and sworn. An 
     affirmative vote of \3/5\ of the Members of the Senate, duly 
     chosen and sworn, shall be required in the Senate to sustain 
     an appeal of the ruling of the Chair on a point of order 
     raised under this section.
                                 ______
                                 
  SA 2766. Mr. BINGAMAN (for himself, Mr. Hatch, Mr. Breaux, and Mrs. 
Lincoln) submitted an amendment intended to be proposed by him to the 
bill S. 1637, to amend the Internal Revenue Code of 1986 to comply with 
the World Trade Organization rulings on the FSC/ETI benefit in a manner 
that preserves jobs and production activities in the United States, to 
reform and simplify the international taxation rules of the United 
States, and for other purposes; which was ordered to lie on the table; 
as follows:

       On page 378, after line 12, add the following:

     SEC. __. MOTOR VEHICLE DEALER TRANSITIONAL ASSISTANCE.

       (a) In General.--For purposes of subtitle A of the Internal 
     Revenue Code of 1986, in the case of a taxpayer who elects 
     the application of this section and who was a party to a 
     motor vehicle sales and service agreement with a motor 
     vehicle manufacturer who announced in December 2000 that it 
     would phase-out the motor vehicle brand to which such 
     agreement relates--
       (1) amounts received by such taxpayer from such 
     manufacturer on account of the termination of such agreement 
     (hereafter in this section referred to as ``termination 
     payment'') are considered to be received for property used in 
     the trade or business of a motor vehicle retail sales and 
     service dealership, and
       (2) to the extent such termination payment is reinvested in 
     property used in a motor vehicle retail sales and service 
     dealership located within the United States, such property 
     shall qualify as like-kind replacement property to which 
     section 1031 of the Internal Revenue Code of 1986 shall apply 
     with the following modifications:
       (A) Such section shall be applied without regard to 
     subparagraphs (A) and (B)(ii) of subsection (a)(3).
       (B) The period described in section 1031(a)(3)(B) of such 
     Code shall be applied by substituting ``2 years'' for ``180 
     days''.
       (b) Rules for Election.--
       (1) Form of election.--The taxpayer shall make an election 
     under this section in such form and manner as the Secretary 
     of the Treasury may prescribe and shall include in such 
     election the amount of the termination payment received, the 
     identification of the replacement property purchased, and 
     such other information as the Secretary may prescribe.
       (2) Election on amended return.--The Secretary of the 
     Treasury shall permit an election under this section on an 
     amended tax return for taxable years beginning before the 
     date of the enactment of this Act.
       (c) Statute of Limitations.--Notwithstanding the provisions 
     of any other law or rule of law, the statutory period for the 
     assessment for any deficiency attributable to any termination 
     payment gain shall be extended until 3 years after the date 
     the Secretary of the Treasury is notified by the taxpayer of 
     the like-kind replacement property or an intention not to 
     replace.
       (d) Effective Date.--This section shall apply to amounts 
     received after December 12, 2000, in taxable years ending 
     after such date.
                                 ______
                                 
  SA 2767. Mr. BINGAMAN (for himself and Mrs. Hutchison) submitted an 
amendment intended to be proposed by him to the bill S. 1637, to amend 
the Internal Revenue Code of 1986 to comply with the World Trade 
Organization rulings on the FSC/ETI benefit in a manner that preserves 
jobs and production activities in the United States, to reform and 
simplify the international taxation rules of the United States, and for 
other purposes; which was ordered to lie on the table; as follows:

       On page 179, after line 25, insert the following:

     SEC. __. DISTRIBUTIONS FROM PUBLICLY TRADED PARTNERSHIPS 
                   TREATED AS QUALIFYING INCOME OF REGULATED 
                   INVESTMENT COMPANIES.

       (a) In General.--Paragraph (2) of section 851(b) (defining 
     regulated investment company) is amended to read as follows:
       ``(2) at least 90 percent of its gross income is derived 
     from--
       ``(A) dividends, interest, payments with respect to 
     securities loans (as defined in section 512(a)(5)), and gains 
     from the sale or other disposition of stock or securities (as 
     defined in section 2(a)(36) of the Investment Company Act of 
     1940, as amended) or foreign currencies, or other income 
     (including but not limited to gains from options, futures or 
     forward contracts) derived with respect to its business of 
     investing in such stock, securities, or currencies, and
       ``(B) distributions or other income derived from an 
     interest in a qualified publicly traded partnership (as 
     defined in subsection (h)); and''
       (b) Source Flow-Through Rule Not To Apply.--The last 
     sentence of section 851(b) is amended by inserting ``(other 
     than a qualified publicly traded partnership as defined in 
     subsection (h))'' after ``derived from a partnership''.
       (c) Limitation on Ownership.--Subsection (c) of section 851 
     is amended by redesignating paragraph (5) as paragraph (6) 
     and inserting after paragraph (4) the following new 
     paragraph:
       ``(5) The term `outstanding voting securities of such 
     issuer' shall include the equity securities of a qualified 
     publicly traded partnership (as defined in subsection 
     (h)).''.
       (d) Definition of Qualified Publicly Traded Partnership.--
     Section 851 is amended by adding at the end the following new 
     subsection:

[[Page 4020]]

       ``(h) Qualified Publicly Traded Partnership.--For purposes 
     of this section, the term `qualified publicly traded 
     partnership' means a publicly traded partnership described in 
     section 7704(b) other than a partnership which would satisfy 
     the gross income requirements of section 7704(c)(2) if 
     qualifying income included only income described in 
     subsection (b)(2)(A).''.
       (e) Definition of Qualifying Income.--Section 7704(d)(4) is 
     amended by striking ``section 851(b)(2)'' and inserting 
     ``section 851(b)(2)(A)''.
       (f) Limitation on Composition of Assets.--Subparagraph (B) 
     of section 851(b)(3) is amended to read as follows:
       ``(B) not more than 25 percent of the value of its total 
     assets is invested in--
       ``(i) the securities (other than Government securities or 
     the securities of other regulated investment companies) of 
     any one issuer,
       ``(ii) the securities (other than the securities of other 
     regulated investment companies) of two or more issuers which 
     the taxpayer controls and which are determined, under 
     regulations prescribed by the Secretary, to be engaged in the 
     same or similar trades or businesses or related trades or 
     businesses, or
       ``(iii) the securities of one or more qualified publicly 
     traded partnerships (as defined in subsection (h)).''.
       (g) Application of Special Passive Activity Rule to 
     Regulated Investment Companies.--Subsection (k) of section 
     469 (relating to separate application of section in case of 
     publicly traded partnerships) is amended by adding at the end 
     the following new paragraph:
       ``(4) Application to regulated investment companies.--For 
     purposes of this section, a regulated investment company (as 
     defined in section 851) holding an interest in a qualified 
     publicly traded partnership (as defined in section 851(h)) 
     shall be treated as a taxpayer described in subsection (a)(2) 
     with respect to items attributable to such interest.''.
       (h) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after the date of the 
     enactment of this Act.
                                 ______
                                 
  SA 2768. Mr. LIEBERMAN (for himself, Mr. Schumer, Ms. Mikulski, Mr. 
Lautenberg, Mr. Biden, Mrs. Murray, Mr. Kennedy, Mr. Corzine, Mr. 
Levin, Mr. Kohl, Mrs. Boxer, Mr. Dodd, Mr. Johnson, Mr. Akaka, Mr. 
Durbin, Mr. Leahy, and Mr. Kerry) submitted an amendment intended to be 
proposed by him to the concurrent resolution S. Con. Res. 95, setting 
forth the congressional budget for the United States Government for 
fiscal year 2005 and including the appropriate budgetary levels for 
fiscal years 2006 through 2009; which was ordered to lie on the table; 
as follows:

       On page 3, line 9, increase the amount by $3,664,000,000.
       On page 3, line 10, increase the amount by $4,533,000,000.
       On page 3, line 11, increase the amount by $4,089,000,000.
       On page 3, line 12, increase the amount by $ 1,160,000,000.
       On page 3, line 13, increase the amount by $175,000,000.
       On page 3, line 17, increase the amount by $3,664,000,000.
       On page 3, line 18, increase the amount by $4,533,000,000.
       On page 3, line 19, increase the amount by $4,089,000,000.
       On page 3, line 20, increase the amount by $1,160,000,000.
       On page 3, line 21, increase the amount by $175,000,000.
       On page 4, line 4, increase the amount by $6,844,000,000.
       On page 4, line 12, increase the amount by $1,832,000,000.
       On page 4, line 13, increase the amount by $2,268,000,000.
       On page 4, line 14, increase the amount by $2,045,000,000.
       On page 4, line 15, increase the amount by $579,000,000.
       On page 4, line 16, increase the amount by $88,000,000.
       On page 4, line 20, increase the amount by $1,832,000,000.
       On page 4, line 21, increase the amount by $2,265,000,000.
       On page 4, line 22, increase the amount by $2,044,000,000.
       On page 4, line 23, increase the amount by $581,000,000.
       On page 4, line 24, increase the amount by $87,000,000.
       On page 5, line 3, decrease the amount by $1,832,000,000.
       On page 5, line 4, decrease the amount by $4,098,000,000.
       On page 5, line 5, decrease the amount by $6,142,000,000.
       On page 5, line 6, decrease the amount by $6,723,000,000.
       On page 5, line 7, decrease the amount by $6,810,000,000.
       On page 5, line 11, decrease the amount by $1,832,000,000.
       On page 5, line 12, decrease the amount by $4,098,000,000.
       On page 5, line 13, decrease the amount by $6,142,000,000.
       On page 5, line 14, decrease the amount by $6,723,000,000.
       On page 5, line 15, decrease the amount by $6,810,000,000.
       On page 13, line 23, increase the amount by $1,400,000,000.
       On page 13, line 24, increase the amount by $603,000,000.
       On page 14, line 3, increase the amount by $337,000,000.
       On page 14, line 7, increase the amount by $299,000,000.
       On page 14, line 11, increase the amount by $94,000,000.
       On page 14, line 15, increase the amount by $34,000,000.
       On page 14, line 19, increase the amount by $3,409,000,000.
       On page 14, line 20, increase the amount by $511,000,000.
       On page 14, line 24, increase the amount by $1,364,000,000.
       On page 15, line 3, increase the amount by $1,364,000,000.
       On page 15, line 7, increase the amount by $170,000,000.
       On page 16, line 12, increase the amount by $500,000,000.
       On page 16, line 13, increase the amount by $160,000,000.
       On page 16, line 17, increase the amount by $220,000,000.
       On page 16, line 21, increase the amount by $90,000,000.
       On page 16, line 25, increase the amount by $20,000,000.
       On page 17, line 4, increase the amount by $10,000,000.
       On page 20, line 17, increase the amount by $1,535,000,000.
       On page 20, line 18, increase the amount by $558,000,000.
       On page 20, line 22, increase the amount by $347,000,000.
       On page 21, line 1, increase the amount by $292,000,000.
       On page 21, line 5, increase the amount by $295,000,000.
       On page 21 line 9, increase the amount by $44.000,000.
       On page 39, line 18, increase the amount by $6,844,000,000.
       On page 39, line 19, increase the amount by $1,832,000,000.
       On page 40, line 2, increase the amount by $2,267,000,000.
                                 ______
                                 
  SA 2769. Mr. BYRD submitted an amendment intended to be proposed by 
him to the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels for fiscal years 
2006 through 2009; which was ordered to lie on the table; as follows:

       On page 43, strike lines 11 through 20, and insert the 
     following:
       (b) Funding for Bioshield.--Amounts made available for 
     Project Bioshield pursuant to Public Law 108-90 shall not be 
     scored for purposes of enforcing discretionary spending 
     limits in the Senate.
                                 ______
                                 
  SA 2770. Mr. CHAMBLISS submitted an amendment intended to be proposed 
by him to the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels for fiscal years 
2006 through 2009; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. SENSE OF THE SENATE CONCERNING INCLUSION OF ETHANOL 
                   FUEL CREDIT IN DIRECT PAYMENTS LIMITATION.

       It is the sense of the Senate that the levels in this 
     concurrent resolution assume that in making appropriations 
     and revenue decisions with respect to budget function 350, 
     the Senate--
       (1) assumes that statutory changes will be made to the 
     payment limitations established under sections 1001 through 
     1001F of the Food Security Act of 1985 (7 U.S.C. 1308 through 
     1308-5); and
       (2) supports the inclusion of the value to a person of the 
     applicable ethanol fuel credit under section 4081(c) of the 
     Internal Revenue Code of 1986 in the limitation on direct 
     payments established under section 1001(b) of the Food 
     Security Act of 1985 (7 U.S.C. 1308(c)).
                                 ______
                                 
  SA 2771. Mr. HATCH (for himself and Mr. Biden) submitted an amendment 
intended to be proposed by him to the concurrent resolution S. Con. 
Res. 95, setting forth the congressional budget for the United States 
Government for fiscal year 2005 and including the appropriate budgetary 
levels for fiscal years 2006 through 2009; which was ordered to lie on 
the table; as follows:

       On page 20, line 17, increase the amount by $600,000,000.

[[Page 4021]]

       On page 20, line 18, increase the amount by $132,000,000.
       On page 20, line 22, increase the amount by $180,000,000.
       On page 21, line 1, increase the amount by $120,000,000.
       On page 21, line 5, increase the amount by $90,000,000.
       On page 21, line 9, increase the amount by $78,000,000.
       On page 21, line 13, decrease the amount by $600,000,000.
       On page 21, line 14, decrease the amount by $132,000,000.
       On page 21, line 18, decrease the amount by $180,000,000.
       On page 21, line 22, decrease the amount by $120,000,000.
       On page 22, line 1, decrease the amount by $90,000,000.
       On page 22, line 5, decrease the amount by $78,000,000.
                                 ______
                                 
  SA 2772. Mr. DURBIN submitted an amendment intended to be proposed by 
him to the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels for fiscal years 
2006 through 2009; which was ordered to lie on the table; as follows:

       On page 45, after line 13, insert the following:

     SEC. __. POINT OF ORDER REQUIRING THAT THE AMT BE DEALT WITH 
                   BEFORE OTHER TAX CUTS FOR THE WEALTHY.

       (a) Point of Order in the Senate.--It shall not be in order 
     in the Senate to consider a bill, amendment, motion, joint 
     resolution, or conference report that would cut taxes for 
     taxpayers with annual adjusted gross incomes of greater than 
     $337,000 unless that measure or a previously enacted measure 
     permanently reduces the number of taxpayers and families with 
     annual adjusted gross incomes of less than $150,000 that will 
     be subject to the alternative minimum tax over the next 
     decade.
       (b) Supermajority Waiver and Appeal.--This section may be 
     waived or suspended in the Senate only by an affirmative vote 
     of \3/5\ of the Members, duly chosen and sworn. An 
     affirmative vote of \3/5\ of the Members of the Senate, duly 
     chosen and sworn, shall be required in the Senate to sustain 
     an appeal of the ruling of the Chair on a point of order 
     raised under this section.
                                 ______
                                 
  SA 2773. Mr. DURBIN (for himself, Mr. Levin, Mr. Kerry, Mrs. Murray, 
Mr. Kohl, Mrs. Clinton, and Mrs. Feinstein) submitted an amendment 
intended to be proposed by him to the concurrent resolution S. Con. 
Res. 95, setting forth the congressional budget for the United States 
Government for fiscal year 2005 and including the appropriate budgetary 
levels for fiscal years 2006 through 2009; which was ordered to lie on 
the table; as follows:

       On page 8, line 21, increase the amount by $618,000,000.
       On page 8, line 22, increase the amount by $62,000,000.
       On page 9, line 1, increase the amount by $340,000,000.
       On page 9, line 5, increase the amount by $116,000,000.
       On page 9, line 9, increase the amount by $54,000,000.
       On page 9, line 13, increase the amount by $25,000,000.
       On page 16, line 12, increase the amount by $174,000,000.
       On page 16, line 13, increase the amount by $49,000,000.
       On page 16, line 17, increase the amount by $87,000,000.
       On page 16, line 21, increase the amount by $22,000,000.
       On page 16, line 25, increase the amount by $8,000,000.
       On page 17, line 4, increase the amount by $5,000,000.
       On page 23, line 5, increase the amount by $792,000,000.
       On page 23, line 6, decrease the amount by $111,000,000.
       On page 23, line 10, decrease the amount by $427,000,000.
       On page 23, line 14, decrease the amount by $138,000,000.
       On page 23, line 18, decrease the amount by $62,000,000.
       On page 23, line 22, decrease the amount by $30,000,000.
                                 ______
                                 
  SA 2774. Mr. DASCHLE (for himself, Mr. Dorgan, Mrs. Murray, Mr. 
Bingaman, Mr. Johnson, Mr. Wyden, Ms. Stabenow, Mr. Akaka, Ms. 
Cantwell, Mr. Inouye, and Mr. Reid) submitted an amendment intended to 
be proposed by him to the concurrent resolution S. Con. Res. 95, 
setting forth the congressional budget for the United States Government 
for fiscal year 2005 and including the appropriate budgetary levels for 
fiscal years 2006 through 2009; which was ordered to lie on the table; 
as follows:

       On page 3, line 9, increase the amount by $6,123,000,000.
       On page 3, line 10, increase the amount by $688,000,000.
       On page 3, line 11, increase the amount by $69,000,000.
       On page 3, line 17, increase the amount by $6,123,000,000.
       On page 3, line 18, increase the amount by $688,000,000.
       On page 3, line 19, increase the amount by $69,000,000.
       On page 4, line 20, increase the amount by $6,123,000,000.
       On page 4, line 21, increase the amount by $688,000,000.
       On page 4, line 22, increase the amount by $69,000,000.
       On page 5, line 3, decrease the amount by $6,123,000,000.
       On page 5, line 4, decrease the amount by $6,811,000,000.
       On page 5, line 5, decrease the amount by $6,880,000,000.
       On page 5, line 6, decrease the amount by $6,880,000,000.
       On page 5, line 7, decrease the amount by $6,880,000,000.
       On page 5, line 11, decrease the amount by $6,123,000,000.
       On page 5, line 12, decrease the amount by $6,811,000,000.
       On page 5, line 13, decrease the amount by $6,880,000,000.
       On page 5, line 14, decrease the amount by $6,880,000,000.
       On page 5, line 15, decrease the amount by $6,880,000,000.
       At the end of Title III, insert the following:

     SEC. ___. RESERVE FUND FOR INDIAN HEALTH SERVICE CLINICAL 
                   SERVICES.

       The Chairman of the Committee on the Budget of the Senate 
     shall revise the aggregates, functional totals, allocations 
     to the Committee on Appropriations of the Senate, 
     discretionary spending limits, and other appropriate levels 
     and limits in this resolution by up to $3,440,000,000 in 
     budget authority for fiscal year 2005, and by the amount of 
     outlays flowing therefrom in 2005 and subsequent years, for a 
     bill, joint resolution, motion, amendment, or conference 
     report that provides additional fiscal year 2005 
     discretionary appropriations, in excess of levels provided in 
     this resolution, for Indian Health Service clinical services, 
     included in this resolution for the Department of Health and 
     Human Services.
                                 ______
                                 
  SA 2775. Ms. LANDRIEU submitted an amendment intended to be proposed 
by her to the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels for fiscal years 
2006 through 2009; which was ordered to lie on the table; as follows:

       On page 3, line 9, increase the amount by $876,000,000.
       On page 3, line 10, increase the amount by $1,054,000,000.
       On page 3, line 11, increase the amount by $998,000,000.
       On page 3, line 12, increase the amount by $1,066,000,000.
       On page 3, line 13, increase the amount by $1,520,000,000.
       On page 3, line 17, increase the amount by $876,000,000.
       On page 3, line 18, increase the amount by $1,054,000,000.
       On page 3, line 19, increase the amount by $998,000,000.
       On page 3, line 20, increase the amount by $1,066,000,000.
       On page 3, line 21, increase the amount by $1,520,000,000.
       On page 4, line 20, increase the amount by $876,000,000.
       On page 4, line 21, increase the amount by $1,054,000,000.
       On page 4, line 22, increase the amount by $998,000,000.
       On page 4, line 23, increase the amount by $1,066,000,000.
       On page 4, line 24, increase the amount by $1,520,000,000.
       On page 5, line 3, increase the amount by $876,000,000.
       On page 5, line 4, increase the amount by $1,930,000,000.
       On page 5, line 5, increase the amount by $2,928,000,000.
       On page 5, line 6, increase the amount by $3,994,000,000.
       On page 5, line 7, increase the amount by $5,514,000,000.
       On page 5, line 11, increase the amount by $876,000,000.
       On page 5, line 12, increase the amount by $1,930,000,000.
       On page 5, line 13, increase the amount by $2,928,000,000.
       On page 5, line 14, increase the amount by $3,994,000,000.
       On page 5, line 15, increase the amount by $5,514,000,000.

     SEC.  . RESERVE FUND FOR ELIMINATING SURVIVOR BENEFIT PLAN--
                   SOCIAL SECURITY OFFSET.

       If the Committee on Armed Services or the Committee on 
     Appropriations reports a bill or joint resolution, or an 
     amendment thereto is offered or a conference report thereon 
     is

[[Page 4022]]

     submitted, that provides for an increase to the minimum 
     Survivor Benefit Plan basic annuity for surviving spouses age 
     62 and older, the Chairman of the Committee on the Budget 
     shall revise the aggregates, functional totals, allocations, 
     discretionary caps, and other appropriate levels and limits 
     in this resolution by up to $2,757,000,000 in budget 
     authority and $2,757,000,000 in outlays over the total of 
     fiscal years 2005 through 2009.
                                 ______
                                 
  SA 2776. Mr. McCAIN submitted an amendment intended to be proposed by 
him to the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels for fiscal years 
2006 through 2009; which was ordered to lie on the table; as follows:

     SEC.___. RESTRICTIONS ON UNAUTHORIZED APPROPRIATIONS.

       (a) In General.--It shall not be in order in the Senate to 
     consider any bill, joint resolution, motion, amendment, or 
     conference report that would provide an unauthorized 
     appropriation.
       (b) Waiver or Suspension.--
       (1) In the Senate, subsection (a) may be waived or 
     suspended only by an affirmative vote of three-fifths of the 
     Members of the Senate, duly chosen and sworn. An affirmative 
     vote of three-fifths of the Members of the Senate, duly 
     chosen and sworn, shall be required to sustain an appeal of 
     the ruling of the Chair on a point of order raised under 
     subsection (a).
       (2) A point of order under subsection (a) may be raised by 
     a Senator as provided in section 313(e) of the Congressional 
     Budget Act of 1974 (2 U.S.C. 644(e)).
       (3) If a point of order is sustained under subsection (a) 
     against a conference report in the Senate, the report shall 
     be disposed of as provided in section 313(d) of the 
     Congressional Budget Act of 1974 (2 U.S.C. 644(d)).
       (c) Unauthorized Appropriation Defined.--In this section:
       (1) Unauthorized Appropriation.--The term ``unauthorized 
     appropriation'' means an appropriation--
       (A) not specifically authorized by law or Treaty 
     stipulation (unless the appropriation has been specifically 
     authorized by an Act or resolution previously passed by the 
     Senate during the same session or proposed in pursuance of an 
     estimate submitted in accordance with law); or
       (B) the amount of which exceeds the amount specifically 
     authorized by law or Treaty stipulation (or specifically 
     authorized by an Act or resolution previously passed by the 
     Senate during the same session or proposed in pursuance of an 
     estimate submitted in accordance with law) to be 
     appropriated.
       (2) Specifically authorized.--For purposes of paragraph 
     (1), an appropriation shall not be considered to be 
     specifically authorized if it is restricted or directed to, 
     or authorized to be obligated or expended for the benefit of, 
     an identifiable person, program, project, entity, or 
     jurisdiction by earmarking or other specification, whether by 
     name or description, in a manner that--
       (A) discriminates against other persons, programs, 
     projects, entities, or jurisdictions similarly situated that 
     would be eligible, but for the restriction, direction, or 
     authorization, for the amount appropriated, or
       (B) is so restricted, directed, or authorized that it 
     applies only to a single identifiable person, program, 
     project, entity, or jurisdiction,

     unless the identifiable person, program, project, entity, or 
     jurisdiction to which the restriction, direction, or 
     authorization applies is described or otherwise clearly 
     identified in a law or Treaty stipulation (or an Act or 
     resolution previously passed by the Senate during the same 
     session or in the estimate submitted in accordance with law) 
     that specifically provides for the restriction, direction, or 
     authorization of appropriation for such person, program, 
     project, entity, or jurisdiction.
                                 ______
                                 
  SA 2777. Mr. CORZINE proposed an amendment to the concurrent 
resolution S. Con. Res. 95, setting forth the congressional budget for 
the United States Government for fiscal year 2005 and including the 
appropriate budgetary levels for fiscal years 2006 through 2009; as 
follows:

       On page 3, line 9, increase the amount by $20,000,000,000.
       On page 3, line 10, increase the amount by $31,000,000,000.
       On page 3, line 11, increase the amount by $34,000,000,000.
       On page 3, line 12, increase the amount by $39,000,000,000.
       On page 3, line 13, increase the amount by $36,000,000,000.
       On page 3, line 17, increase the amount by $20,000,000,000.
       On page 3, line 18, increase the amount by $31,000,000,000.
       On page 3, line 19, increase the amount by $34,000,000,000.
       On page 3, line 20, increase the amount by $39,000,000,000.
       On page 3, line 21, increase the amount by $36,000,000,000.
       On page 4, line 20, increase the amount by $20,000,000,000.
       On page 4, line 21, increase the amount by $31,000,000,000.
       On page 4, line 22, increase the amount by $34,000,000,000.
       On page 4, line 23, increase the amount by $39,000,000,000.
       On page 4, line 24, increase the amount by $36,000,000,000.
       On page 5, line 3, decrease the amount by $20,000,000,000.
       On page 5, line 4, decrease the amount by $31,000,000,000.
       On page 5, line 5, decrease the amount by $34,000,000,000.
       On page 5, line 6, decrease the amount by $39,000,000,000.
       On page 5, line 7, decrease the amount by $36,000,000,000.
       On page 5, line 11, decrease the amount by $20,000,000,000.
       On page 5, line 12, decrease the amount by $31,000,000,000.
       On page 5, line 13, decrease the amount by $34,000,000,000.
       On page 5, line 14, decrease the amount by $39,000,000,000.
       On page 5, line 15, decrease the amount by $36,000,000,000.
       At the appropriate place, insert the following:

     SEC. ___. RESERVE FUND TO PREVENT CUTS IN SOCIAL SECURITY 
                   BENEFITS.

       If legislation is reported by the Senate Committee on 
     Finance, or an amendment thereto is offered or a conference 
     report thereon is submitted that would extend the solvency of 
     the Social Security Trust Funds and prevent future cuts in 
     Social Security benefits, the Chairman of the Senate 
     Committee on the Budget may revise the aggregates, 
     allocations, and other appropriate levels and limits in this 
     resolution by not more than $160,000,000,000 to reflect such 
     legislation.
                                 ______
                                 
  SA 2778. Mr. DORGAN (for himself, Mr. Hagel, Mr. Brownback, and Mr. 
Johnson) submitted an amendment intended to be proposed by him to the 
concurrent resolution S. Con. Res. 95, setting forth the congressional 
budget for the United States Government for fiscal year 2005 and 
including the appropriate budgetary levels for fiscal years 2006 
through 2009; which was ordered to lie on the table; as follows:

       On page 14, line 19, increase the amount by $260,000,000.
       On page 14, line 20, increase the amount by $18,000,000.
       On page 14, line 23, increase the amount by $260,000,000.
       On page 14, line 24, increase the amount by $226,000,000.
       On page 15, line 2, increase the amount by $260,000,000.
       On page 15, line 3, increase the amount by $260,000,000.
       On page 15, line 6, increase the amount by $260,000,000.
       On page 15, line 7, increase the amount by $260,000,000.
       On page 15, line 10, increase the amount by $260,000,000.
       On page 15, line 11, increase the amount by $260,000,000.
       On page 15, line 16, increase the amount by $660,000,000.
       On page 15, line 17, increase the amount by $561,000,000.
       On page 15, line 20, increase the amount by $60,000,000.
       On page 15, line 21, increase the amount by $150,000,000.
       On page 15, line 24, increase the amount by $60,000,000.
       On page 15, line 25, increase the amount by $60,000,000.
       On page 16, line 3, increase the amount by $60,000,000.
       On page 16, line 4, increase the amount by $60,000,000.
       On page 16, line 7, increase the amount by $60,000,000.
       On page 16, line 8, increase the amount by $60,000,000.
       On page 23, line 5, decrease the amount by $920,000,000.
       On page 23, line 6, decrease the amount by $579,000,000.
       On page 23, line 9, decrease the amount by $320,000,000.
       On page 23, line 10, decrease the amount by $376,000,000.
       On page 23, line 13, decrease the amount by $320,000,000.
       On page 23, line 14, decrease the amount by $320,000,000.
       On page 23, line 17, decrease the amount by $320,000,000.
       On page 23, line 18, decrease the amount by $320,000,000.
       On page 23, line 21, decrease the amount by $320,000,000.
       On page 23, line 22, decrease the amount by $320,000,000.
       On page 54, after line 22, insert the following:

     SEC. __. SENSE OF THE SENATE REGARDING TAX INCENTIVES FOR 
                   CERTAIN RURAL COMMUNITIES.

       It is the sense of the Senate that if tax relief measures 
     are passed in accordance with

[[Page 4023]]

     the assumptions in this resolution in this session of 
     Congress, such legislation should include--
       (1) tax and other financial incentives, similar to those 
     included in the New Homestead Act (S. 602), to help rural 
     communities fight the economic decimation caused by chronic 
     out-migration by giving such communities the tools they need 
     to attract individuals to live and work, or to start and grow 
     a business, in such rural areas, and
       (2) revenue provisions which fully offset the cost of such 
     tax and other financial incentives.
                                 ______
                                 
  SA 2779. Mr. DORGAN (for himself and Mr. Reid) submitted an amendment 
intended to be proposed by him to the concurrent resolution S. Con. 
Res. 95, setting forth the congressional budget for the United States 
Government for fiscal year 2005 and including the appropriate budgetary 
levels for fiscal years 2006 through 2009; which was ordered to lie on 
the table; as follows:

       On page 3, line 9, decrease the amount by $6,000,000,000.
       On page 3, line 17, decrease the amount by $6,000,000,000.
       On page 4, line 20, decrease the amount by $6,000,000,000.
       On page 5, line 23, increase the amount by $6,000,000,000.
                                 ______
                                 
  SA 2780. Mrs. CLINTON (for herself, Mr. Kennedy, Mr. Daschle, and Mr. 
Bingaman) submitted an amendment intended to be proposed by her to the 
concurrent resolution S. Con. Res. 95, setting forth the congressional 
budget for the United States Government for fiscal year 2005 and 
including the appropriate budgetary levels for fiscal years 2006 
through 2009; which was ordered to lie on the table; as follows:

       On page 28, after line 7, insert the following:

     SEC. __. RESERVE FUND FOR ADDRESSING MINORITY HEALTH 
                   DISPARITIES.

       If the Committee on Appropriations of the Senate reports a 
     bill or joint resolution, or an amendment thereto is offered 
     or a conference report thereon is submitted, that addresses 
     minority health disparities through activities including 
     those at the HHS Office of Minority Health, the Office of 
     Civil Rights, the National Center on Minority Health and 
     Health Disparities, the Minority HIV/AIDS initiative, health 
     professions training, and through the Racial and Ethnic 
     Approaches to Community Health at the Centers for Disease 
     Control and provides not to exceed $400,000,000 in new budget 
     authority for fiscal year 2005, the chairman of the Committee 
     on the Budget may revise allocations of new budget authority 
     and outlays and other appropriate aggregates to reflect such 
     legislation, provided that such legislation would not 
     increase the deficit for fiscal year 2005 and for the period 
     of fiscal years 2005 through 2009.
                                 ______
                                 
  SA 2781. Mr. LEAHY submitted an amendment intended to be proposed by 
him to the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels fiscal years 2006 
through 2009; which was ordered to lie on the table; as follows:

       On page 3, line 9, increase the amount by $2,216,000,000.
       On page 3, line 10, increase the amount by $2,898,000,000.
       On page 3, line 11, increase the amount by $3,128 000,000.
       On page 3, line 12, increase the amount by $3,272,000,000.
       On page 3, line 13, increase the amount by $3,362,000,000.
       On page 3, line 17, increase the amount by $2,216,000,000.
       On page 3, line 18, increase the amount by $2,898,000,000.
       On page 3, line 19, increase the amount by $3,128,000,000.
       On page 3, line 20, increase the amount by $3,272,000,000.
       On page 3, line 21, increase the amount by $3,362,000,000.
       On page 4, line 4, increase the amount by $1,108,000,000.
       On page 4, line 5, increase the amount by $1,449,000,000.
       On page 4, line 6, increase the amount by $1,564,000,000.
       On page 4, line 7, increase the amount by $1,636,000,000.
       On page 4, line 8, increase the amount by $1,681,000,000.
       On page 4, line 12, increase the amount by $1,108,000,000.
       On page 4, line 13, increase the amount by $1,449,000,000.
       On page 4, line 14, increase the amount by $1,564,000,000.
       On page 4, line 15, increase the amount by $1,636,000,000.
       On page 4, line 16, increase the amount by $1,681,000,000.
       On page 4, line 20, increase the amount by $1,108,000,000.
       On page 4, line 21, increase the amount by $1,449,000,000.
       On page 4, line 22, increase the amount by $1,564,000,000.
       On page 4, line 23, increase the amount by $1,636,000,000.
       On page 4, line 24, increase the amount by $1,681,000,000.
       On page 5, line 3, decrease the amount by $1,108,000,000.
       On page 5, line 4, decrease the amount by $2,557,000,000.
       On page 5, line 5, decrease the amount by $4,121,000,000.
       On page 5, line 6, decrease the amount by $5,757,000,000.
       On page 5, line 7, decrease the amount by $7,438,000,000.
       On page 5, line 11, decrease the amount by $1,108,000,000.
       On page 5, line 12, decrease the amount by $2,557,000,000.
       On page 5, line 13, decrease the amount by $4,121,000,000.
       On page 5, line 14, decrease the amount by $5,757,000,000.
       On page 5, line 15, decrease the amount by $7,438,000,000.
       On page 18, line 4, increase the amount by $1,108,000,000.
       On page 18, line 5, increase the amount by $1,108,000,000.
       On page 18, line 8, increase the amount by $1,449,000,000.
       On page 18, line 9, increase the amount by $1,449,000,000.
       On page 18, line 12, increase the amount by $1,564,000,000.
       On page 18, line 13, increase the amount by $1,564,000,000.
       On page 18, line 16, increase the amount by $1,636,000,000.
       On page 18, line 17, increase the amount by $1,636,000,000.
       On page 18, line 20, increase the amount by $1,681,000,000.
       On page 18, line 21, increase the amount by $1,681,000,000.
                                 ______
                                 
  SA 2782. Ms. COLLINS (for herself, Mr. Kennedy, Ms. Murkowski, and 
Ms. Landrieu) submitted an amendment intended to be proposed by her to 
the concurrent resolution S. Con. Res. 95, setting forth the 
congressional budget for the United States Government for fiscal year 
2005 and including the appropriate budgetary levels for fiscal years 
2006 through 2009; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC.   . GOOD NEWS RESERVE FUND FOR EDUCATION.

       (a) Adjustment.--(1) The Chairman of the Committee on the 
     Budget of the Senate shall revise the aggregates, functional 
     totals, allocations to the Committee on Appropriations of the 
     Senate, discretionary spending limits, and other appropriate 
     levels and limits in this resolution by an amount not to 
     exceed 20 percent of good news funds defined in paragraph (2) 
     for a bill, joint resolution, motion, amendment, or 
     conference report that provides discretionary new budget 
     authority for fiscal year 2005 in excess of the levels 
     assumed in this resolution for education programs within 
     functional category 500, and for the outlays flowing 
     therefrom.
       (2) Good news definition.--The term ``good news funds'' 
     means the amount (if any) by which the estimated level of on-
     budget revenues for fiscal year 2005 set forth in the report 
     submitted pursuant to section 202(e) of the Congressional 
     Budget Act of 1974 (2 U.S.C. 602(e)) (the budget and economic 
     outlook: update) exceeds such estimated level set forth in 
     the Congressional Budget Office's budget and economic outlook 
     for fiscal year 2005 issued in January of 2004, adjusted for 
     the enactment of any legislation affecting revenues for 
     fiscal year 2005 after the adoption of this resolution.
       (b) Limitations.--Adjustments under subsection (a) shall 
     not exceed $10,000,000,000 of on-budget Federal revenues for 
     fiscal year 2005.

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