[Congressional Record (Bound Edition), Volume 154 (2008), Part 1]
[Senate]
[Pages 1448-1454]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           TEXT OF AMENDMENTS

  SA 3989. Mr. ALLARD submitted an amendment intended to be proposed by 
him to the bill H.R. 5140, to provide economic stimulus through 
recovery rebates to individuals, incentives for business investment, 
and an increase in conforming and FHA loan limits; which was ordered to 
lie on the table; as follows:

       On page 55, between lines 19 and 20, insert the following:

     SEC. 203. TEMPORARY INCREASE IN LOAN LIMIT FOR HOME EQUITY 
                   CONVERSION MORTGAGES.

       For home equity conversion mortgages originated during the 
     period beginning on July 1, 2007, and ending at the end of 
     December 31, 2008, notwithstanding section 255(g) of the 
     National Housing Act (12 U.S.C. 1715z-20(g)), the limitation 
     on the maximum principal obligation of a home equity 
     conversion mortgage that may be insured by the Secretary of 
     Housing and Urban Development under such section 255 shall 
     not exceed the dollar limitation established under section 
     201(a)(2) of this Act (relating to increased loan limits for 
     the Federal Home Loan Mortgage Corporation).

     SEC. 204. TEMPORARY INCREASE IN LOAN LIMIT FOR MANUFACTURED 
                   HOUSING.

       During the period beginning on July 1, 2007, and ending at 
     the end of December 31, 2008, with respect to any bank, trust 
     company, personal finance company, mortgage company, building 
     and loan association, installment lending company, or other 
     such financial institution, that received or seeks insurance 
     protection under section 2 of the National Housing Act (12 
     U.S.C. 1703(b)), the dollar limitation against losses which 
     may sustain as a result of a loan, advance of credit, or 
     purchase of an obligation representing such loans and 
     advances shall not exceed--
       (1) $25,090 if made for the purpose of financing 
     alterations, repairs and improvements upon or in connection 
     with existing manufactured homes;
       (2) $69,678 if made for the purpose of financing the 
     purchase of a manufactured home;
       (3) $92,904 if made for the purpose of financing the 
     purchase of a manufactured home and a suitably developed lot 
     on which to place the home; and
       (4) $23,226 if made for the purpose of financing the 
     purchase, by an owner of a manufactured home which is the 
     principal residence of that owner, of a suitably developed 
     lot on which to place that manufactured home, and if the 
     owner certifies that he or she will place the manufactured 
     home on the lot acquired with such loan within 6 months after 
     the date of such loan.
                                 ______
                                 
  SA 3990. Mr. ALLARD submitted an amendment intended to be proposed by 
him to the bill H.R. 5140, to provide economic stimulus through 
recovery rebates to individuals, incentives for business investment, 
and an increase in conforming and FHA loan limits; which was ordered to 
lie on the table; as follows:

       On page 14, after line 22, insert the following:

     SEC. 104. CARRYBACK OF CERTAIN NET OPERATING LOSSES ALLOWED 
                   FOR 5 YEARS; TEMPORARY SUSPENSION OF 90 PERCENT 
                   AMT LIMIT.

       (a) In General.--Subparagraph (H) of section 172(b)(1) of 
     the Internal Revenue Code of 1986 is amended to read as 
     follows:
       ``(H) 5-year carryback of certain losses.--
       ``(i) Taxable years ending during 2001 and 2002.--In the 
     case of a net operating loss for any taxable year ending 
     during 2001 or 2002, subparagraph (A)(i) shall be applied by 
     substituting `5' for `2' and subparagraph (F) shall not 
     apply.
       ``(ii) Taxable years beginning or ending during 2006, 2007, 
     and 2008.--In the case of a net operating loss for any 
     taxable year beginning or ending during 2006, 2007, or 2008--

       ``(I) subparagraph (A)(i) shall be applied by substituting 
     `5' for `2',
       ``(II) subparagraph (E)(ii) shall be applied by 
     substituting `4' for `2', and
       ``(III) subparagraph (F) shall not apply.''.

       (b) Temporary Suspension of 90 Percent Limit on Certain NOL 
     Carrybacks and Carryovers.--
       (1) In general.--Section 56(d) of the of the Internal 
     Revenue Code of 1986 is amended by adding at the end the 
     following new paragraph:
       ``(3) Additional adjustments.--For purposes of paragraph 
     (1)(A), the amount described in clause (I) of paragraph 
     (1)(A)(ii) shall be increased by the amount of the net 
     operating loss deduction allowable for the taxable year under 
     section 172 attributable to the sum of--
       ``(A) carrybacks of net operating losses from taxable years 
     beginning or ending during 2006, 2007, and 2008, and
       ``(B) carryovers of net operating losses to taxable years 
     beginning or ending during 2006, 2007, or 2008.''.
       (2) Conforming amendment.--Subclause (I) of section 
     56(d)(1)(A)(i) of such Code is amended by inserting ``amount 
     of such'' before ``deduction described in clause (ii)(I)''.
       (c) Anti-Abuse Rules.--The Secretary of Treasury or the 
     Secretary's designee shall prescribes such rules as are 
     necessary to prevent the abuse of the purposes of the 
     amendments made by this section, including anti-stuffing 
     rules, anti-churning rules (including rules relating to sale-
     leasebacks), and rules similar to the rules under section 
     1091 of the Internal Revenue Code of 1986 relating to losses 
     from wash sales.
       (d) Effective Dates.--
       (1) Subsection (a).--
       (A) In general.--Except as provided in subparagraph (B), 
     the amendments made by subsection (a) shall apply to net 
     operating losses arising in taxable years beginning or ending 
     in 2006, 2007, or 2008.
       (B) Election.--In the case of a net operating loss for a 
     taxable year beginning or ending during 2006 or 2007--
       (i) any election made under section 172(b)(3) of the 
     Internal Revenue Code of 1986 may (notwithstanding such 
     section) be revoked before November 1, 2008, and
       (ii) any election made under section 172(j) of such Code 
     shall (notwithstanding such section) be treated as timely 
     made if made before November 1, 2008.
       (2) Subsection (b).--The amendments made by subsection (b) 
     shall apply to taxable years ending after December 31, 1995.
                                 ______
                                 
  SA 3991. Mr. SANDERS (for himself, Mr. Akaka, and Mr. Kerry) 
submitted an amendment intended to be proposed to amendment SA 3983 
proposed by Mr.

[[Page 1449]]

Reid to the bill H.R. 5140, to provide economic stimulus through 
recovery rebates to individuals, incentives for business investment, 
and an increase in conforming and FHA loan limits; which was ordered to 
lie on the table; as follows:

       At the end of the bill, add the following:

                       TITLE VI--OTHER ASSISTANCE

     SEC. 601. TEMPORARY INCREASE IN SPECIALLY ADAPTED HOUSING 
                   BENEFITS FOR DISABLED VETERANS.

       (a) In General.--Section 2102 of title 38, United States 
     Code, is amended--
       (1) in subsection (b)(2), by striking ``$10,000'' and 
     inserting ``$12,000''; and
       (2) in subsection (d)--
       (A) in paragraph (1), by striking ``$50,000'' and inserting 
     ``$60,000''; and
       (B) in paragraph (2), by striking ``$10,000'' and inserting 
     ``$12,000''.
       (b) Effective Date.--The amendments made by subsection (a) 
     shall be effective during the period beginning on the date of 
     the enactment of this Act and ending on September 30, 2008.
       (c) Revival.--Effective on October 1, 2008, the provisions 
     of subsection (b)(2) and paragraphs (1) and (2) of subsection 
     (d) of such section 2102, as such provisions were in effect 
     on the day before the date of the enactment of this Act, are 
     hereby revived.

     SEC. 602. TEMPORARY INCREASE IN ASSISTANCE FOR PROVIDING 
                   AUTOMOBILES OR OTHER CONVEYANCES TO CERTAIN 
                   DISABLED VETERANS.

       (a) In General.--Section 3902(a) of title 38, United States 
     Code, is amended by striking ``$11,000'' and inserting 
     ``$22,484''.
       (b) Effective Date.--The amendment made by subsection (a) 
     shall be effective during the period beginning on the date of 
     the enactment of this Act and ending on September 30, 2008.
       (c) Revival.--Effective on October 1, 2008, the provisions 
     of such section 3902(a), as such provisions were in effect on 
     the day before the date of the enactment of this Act, are 
     hereby revived.
                                 ______
                                 
  SA 3992. Mr. BROWN (for himself, Mrs. Boxer, Mr. Bingaman, Mr. 
Sanders, and Mr. Schumer) submitted an amendment intended to be 
proposed by him to the bill H.R. 5140, to provide economic stimulus 
through recovery rebates to individuals, incentives for business 
investment, and an increase in conforming and FHA loan limits; which 
was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. EMERGENCY FUNDING.

       (a) In General.--There is hereby appropriated to the 
     Secretary of Agriculture to carry out the purposes of section 
     27(a) of the Food Stamp Act of 1977 (7 U.S.C. 2036(a)) 
     $100,000,000, to remain available until expended.
       (b) Use of Funds.--
       (1) In general.--In carrying out subsection (a), the 
     Secretary may--
       (A) waive such procurement rules as may be necessary to 
     expedite the purchase and distribution of commodities to 
     emergency feeding organizations; and
       (B) divert to the emergency food assistance program 
     established under the Emergency Food Assistance Act of 1983 
     (7 U.S.C. 7501 et seq.) commodities held in inventory for 
     other programs that can be replaced at a later date without 
     program disruption.
       (2) Distribution costs.--A State may choose to use up to 10 
     percent of the total funds made available to the State under 
     this section for distribution costs.
                                 ______
                                 
  SA 3993. Mr. ALEXANDER submitted an amendment intended to be proposed 
to amendment SA 3983 proposed by Mr. Reid to the bill H.R. 5140, to 
provide economic stimulus through recovery rebates to individuals, 
incentives for business investment, and an increase in conforming and 
FHA loan limits; which was ordered to lie on the table; as follows:

       On page 33, strike line 1 through page 44, line 24.
                                 ______
                                 
  SA 3994. Mr. ALEXANDER submitted an amendment intended to be proposed 
to amendment SA 3983 proposed by Mr. Reid to the bill H.R. 5140, to 
provide economic stimulus through recovery rebates to individuals, 
incentives for business investment, and an increase in conforming and 
FHA loan limits; which was ordered to lie on the table; as follows:

       On page 34, strike line 20 through page 37, line 6, and 
     insert the following:

     SEC. 125. EXTENSION OF NEW ENERGY EFFICIENT HOME CREDIT.

       Subsection (g) of section 45L of the Internal Revenue Code 
     of 1986 (relating to termination) is amended by striking 
     ``December 31, 2008'' and inserting ``December 31, 2009''.

     SEC. 126. EXTENSION OF ENERGY CREDIT.

       (a) Solar Energy Property.--Paragraphs (2)(A)(i)(II) and 
     (3)(A)(ii) of section 48(a) of the Internal Revenue Code of 
     1986 (relating to energy credit) are each amended by striking 
     ``January 1, 2009'' and inserting ``January 1, 2010''.
       (b) Fuel Cell Property.--Subparagraph (E) of section 
     48(c)(1) of the Internal Revenue Code of 1986 (relating to 
     qualified fuel cell property) is amended by striking 
     ``December 31, 2008'' and inserting ``December 31, 2009''.
       (c) Microturbine Property.--Subparagraph (E) of section 
     48(c)(2) of the Internal Revenue Code of 1986 (relating to 
     qualified microturbine property) is amended by striking 
     ``December 31, 2008'' and inserting ``December 31, 2009''.
                                 ______
                                 
  SA 3995. Mr. NELSON of Florida (for himself and Ms. Snowe) submitted 
an amendment intended to be proposed to amendment SA 3983 proposed by 
Mr. Reid to the bill H.R. 5140, to provide economic stimulus through 
recovery rebates to individuals, incentives for business investment, 
and an increase in conforming and FHA loan limits; which was ordered to 
lie on the table; as follows:

       At the end of title I, add the following:

     SEC. ___. REFUND CHECK INTEGRITY PROTECTION.

       (a) Definitions.--In this section:
       (1) Domain name.--The term ``domain name'' means any 
     alphanumeric designation that is registered with or assigned 
     by any domain name registrar, domain name registry, or other 
     domain name registration authority as part of an electronic 
     address on the Internet.
       (2) Electronic mail address.--The term ``electronic mail 
     address'' means a destination, commonly expressed as a string 
     of characters, consisting of a unique user name or mailbox 
     (commonly referred to as the ``local part'') and a reference 
     to an Internet domain (commonly referred to as the ``domain 
     part''), whether or not displayed, to which an electronic 
     mail message can be sent or delivered.
       (3) Electronic mail message.--The term ``electronic mail 
     message'' means a message sent to a unique electronic mail 
     address.
       (4) Identifying information.--The term ``identifying 
     information'', with respect to an individual, means any of 
     the following:
       (A) The last name of the individual combined with the first 
     initial or first name of the individual.
       (B) The home address of the individual.
       (C) The telephone number of the individual.
       (D) The social security number of the individual.
       (E) The taxpayer identification number of the individual.
       (F) The employer identification number that is the same as 
     or is derived from the social security number of the 
     individual.
       (G) A financial account number, credit card number, or 
     debit card number of the individual that is combined with any 
     required security code, access code, or password that would 
     permit access to a financial account of such individual.
       (H) The driver's license identification number or State 
     resident identification number of the individual.
       (I) Such other information that is sufficient to identify 
     the individual by name.
       (5) Internet.--The term ``Internet'' means the 
     international computer network of both Federal and non-
     Federal interoperable packet switched data networks.
       (6) Web page.--The term ``web page'' means a location, with 
     respect to the World Wide Web, that has a single Uniform 
     Resource Locator or another single location with respect to 
     the Internet, as the Federal Trade Commission may prescribe.
       (b) Use of Deceptive or Misleading Web Pages, Domain Names, 
     and Electronic Mail Messages Referring to the Internal 
     Revenue Service.--It shall be unlawful for any person, by 
     means of a web page, domain name, electronic mail message, or 
     otherwise through the use of the Internet, to solicit, 
     request, or take any action, to induce an individual to 
     provide identifying information by representing itself to be 
     the Internal Revenue Service, or another governmental office 
     administering any refund of Federal taxes, without the 
     authority or approval of the Commissioner of Internal 
     Revenue, if--
       (1) the representing person does not have the express 
     authority or approval of the Commissioner of Internal Revenue 
     or other governmental office to represent itself as the 
     Internal Revenue Service, or another governmental office 
     administering any refund of Federal taxes; and
       (2) the representing person has actual knowledge, or 
     knowledge fairly implied on the basis of objective 
     circumstances, that such web page, domain name, electronic 
     mail message, or other means would be likely to mislead an 
     individual, acting reasonably under the circumstances, about 
     a material fact regarding the contents of such electronic 
     mail message, instant message, web page, or advertisement 
     (consistent with the criteria used in the enforcement of 
     section 5 of the Federal Trade Commission Act (15 U.S.C. 
     45)).
       (c) Enforcement by Federal Trade Commission.--

[[Page 1450]]

       (1) Unfair or deceptive act or practice.--A violation of a 
     prohibition described in subsection (b) shall be treated as a 
     violation of a rule defining an unfair or deceptive act or 
     practice described under section 18(a)(1)(B) of the Federal 
     Trade Commission Act (15 U.S.C. 57a(a)(1)(B)).
       (2) Actions by the federal trade commission.--The Federal 
     Trade Commission shall enforce the provisions of paragraph 
     (1) and subsection (b) in the same manner, by the same means, 
     and with the same jurisdiction, powers, and duties as though 
     all applicable terms and provisions of the Federal Trade 
     Commission Act (15 U.S.C. 41 et seq.) were incorporated into 
     and made part of this section.
       (3) Availability of cease-and-desist orders and injunctive 
     relief without showing of knowledge.--In any proceeding or 
     action pursuant to paragraph (2) to enforce compliance 
     through an order to cease and desist or an injunction, the 
     Federal Trade Commission shall not be required to allege or 
     prove the state of mind required by subsection (b).
       (d) Refund Check Protection Working Group.--
       (1) Establishment.--Not later than 30 days after the date 
     of the enactment of this section, the Commissioner of 
     Internal Revenue shall establish a working group to be known 
     as the ``Refund Check Protection Working Group'' (hereafter 
     in this subsection referred to as the ``Working Group'').
       (2) Membership.--
       (A) Appointment and consultation.--Subject to subparagraph 
     (B), members of the Working group shall be appointed by the 
     Commissioner of Internal Revenue in consultation with the 
     head of each of the agencies described in such subparagraph.
       (B) Composition.--The Working Group shall be composed of 5 
     members of whom--
       (i) 1 shall be a representative of the Internal Revenue 
     Service;
       (ii) 1 shall be a representative of the Federal Trade 
     Commission;
       (iii) 1 shall be a representative of the Department of 
     Justice;
       (iv) 1 shall be a representative of the Federal Bureau of 
     Investigation; and
       (v) 1 shall be a representative of the Secret Service.
       (C) Chair.--The Working Group shall select a chair from 
     among its members.
       (3) Duties.--
       (A) Best practices.--The Working Group shall collect, 
     review, disseminate, and advise on best practices and any 
     additional governmental efforts required to protect the 
     integrity of the distribution of refunds for Federal taxes.
       (B) Monthly report.--Not later than 3 months after the date 
     on which the Working Group is established, and every month 
     thereafter, the Working Group shall submit to Congress a 
     report on its findings with respect to its activities under 
     subparagraph (A).
       (4) Termination.--This Working Group shall terminate 180 
     days after the date of the enactment of this section.
       (e) Effect on Federal Trade Commission Act.--Nothing in 
     this section may be construed to reduce the authority of the 
     Federal Trade Commission to bring enforcement actions under 
     the Federal Trade Commission Act for materially false or 
     deceptive representations or unfair practices on the 
     Internet.
                                 ______
                                 
  SA 3996. Mr. NELSON of Florida (for himself and Ms. Snowe) submitted 
an amendment intended to be proposed to amendment SA 3983 proposed by 
Mr. Reid to the bill H.R. 5140, to provide economic stimulus through 
recovery rebates to individuals, incentives for business investment, 
and an increase in conforming and FHA loan limits; which was ordered to 
lie on the table; as follows:

       On page 49, after line 19, add the following:

                      Subtitle E--Other Provisions

     SEC. 132. REFUND CHECK INTEGRITY PROTECTION.

       (a) Definitions.--In this section:
       (1) Domain name.--The term ``domain name'' means any 
     alphanumeric designation that is registered with or assigned 
     by any domain name registrar, domain name registry, or other 
     domain name registration authority as part of an electronic 
     address on the Internet.
       (2) Electronic mail address.--The term ``electronic mail 
     address'' means a destination, commonly expressed as a string 
     of characters, consisting of a unique user name or mailbox 
     (commonly referred to as the ``local part'') and a reference 
     to an Internet domain (commonly referred to as the ``domain 
     part''), whether or not displayed, to which an electronic 
     mail message can be sent or delivered.
       (3) Electronic mail message.--The term ``electronic mail 
     message'' means a message sent to a unique electronic mail 
     address.
       (4) Identifying information.--The term ``identifying 
     information'', with respect to an individual, means any of 
     the following:
       (A) The last name of the individual combined with the first 
     initial or first name of the individual.
       (B) The home address of the individual.
       (C) The telephone number of the individual.
       (D) The social security number of the individual.
       (E) The taxpayer identification number of the individual.
       (F) The employer identification number that is the same as 
     or is derived from the social security number of the 
     individual.
       (G) A financial account number, credit card number, or 
     debit card number of the individual that is combined with any 
     required security code, access code, or password that would 
     permit access to a financial account of such individual.
       (H) The driver's license identification number or State 
     resident identification number of the individual.
       (I) Such other information that is sufficient to identify 
     the individual by name.
       (5) Internet.--The term ``Internet'' means the 
     international computer network of both Federal and non-
     Federal interoperable packet switched data networks.
       (6) Web page.--The term ``web page'' means a location, with 
     respect to the World Wide Web, that has a single Uniform 
     Resource Locator or another single location with respect to 
     the Internet, as the Federal Trade Commission may prescribe.
       (b) Use of Deceptive or Misleading Web Pages, Domain Names, 
     and Electronic Mail Messages Referring to the Internal 
     Revenue Service.--It shall be unlawful for any person, by 
     means of a web page, domain name, electronic mail message, or 
     otherwise through the use of the Internet, to solicit, 
     request, or take any action, to induce an individual to 
     provide identifying information by representing itself to be 
     the Internal Revenue Service, or another governmental office 
     administering any refund of Federal taxes, without the 
     authority or approval of the Commissioner of Internal 
     Revenue, if--
       (1) the representing person does not have the express 
     authority or approval of the Commissioner of Internal Revenue 
     or other governmental office to represent itself as the 
     Internal Revenue Service, or another governmental office 
     administering any refund of Federal taxes; and
       (2) the representing person has actual knowledge, or 
     knowledge fairly implied on the basis of objective 
     circumstances, that such web page, domain name, electronic 
     mail message, or other means would be likely to mislead an 
     individual, acting reasonably under the circumstances, about 
     a material fact regarding the contents of such electronic 
     mail message, instant message, web page, or advertisement 
     (consistent with the criteria used in the enforcement of 
     section 5 of the Federal Trade Commission Act (15 U.S.C. 
     45)).
       (c) Enforcement by Federal Trade Commission.--
       (1) Unfair or deceptive act or practice.--A violation of a 
     prohibition described in subsection (b) shall be treated as a 
     violation of a rule defining an unfair or deceptive act or 
     practice described under section 18(a)(1)(B) of the Federal 
     Trade Commission Act (15 U.S.C. 57a(a)(1)(B)).
       (2) Actions by the federal trade commission.--The Federal 
     Trade Commission shall enforce the provisions of paragraph 
     (1) and subsection (b) in the same manner, by the same means, 
     and with the same jurisdiction, powers, and duties as though 
     all applicable terms and provisions of the Federal Trade 
     Commission Act (15 U.S.C. 41 et seq.) were incorporated into 
     and made part of this section.
       (3) Availability of cease-and-desist orders and injunctive 
     relief without showing of knowledge.--In any proceeding or 
     action pursuant to paragraph (2) to enforce compliance 
     through an order to cease and desist or an injunction, the 
     Federal Trade Commission shall not be required to allege or 
     prove the state of mind required by subsection (b).
       (d) Refund Check Protection Working Group.--
       (1) Establishment.--Not later than 30 days after the date 
     of the enactment of this section, the Commissioner of 
     Internal Revenue shall establish a working group to be known 
     as the ``Refund Check Protection Working Group'' (hereafter 
     in this subsection referred to as the ``Working Group'').
       (2) Membership.--
       (A) Appointment and consultation.--Subject to subparagraph 
     (B), members of the Working group shall be appointed by the 
     Commissioner of Internal Revenue in consultation with the 
     head of each of the agencies described in such subparagraph.
       (B) Composition.--The Working Group shall be composed of 5 
     members of whom--
       (i) 1 shall be a representative of the Internal Revenue 
     Service;
       (ii) 1 shall be a representative of the Federal Trade 
     Commission;
       (iii) 1 shall be a representative of the Department of 
     Justice;
       (iv) 1 shall be a representative of the Federal Bureau of 
     Investigation; and
       (v) 1 shall be a representative of the Secret Service.
       (C) Chair.--The Working Group shall select a chair from 
     among its members.
       (3) Duties.--
       (A) Best practices.--The Working Group shall collect, 
     review, disseminate, and advise

[[Page 1451]]

     on best practices and any additional governmental efforts 
     required to protect the integrity of the distribution of 
     refunds for Federal taxes.
       (B) Monthly report.--Not later than 3 months after the date 
     on which the Working Group is established, and every month 
     thereafter, the Working Group shall submit to Congress a 
     report on its findings with respect to its activities under 
     subparagraph (A).
       (4) Termination.--This Working Group shall terminate 180 
     days after the date of the enactment of this section.
       (e) Effect on Federal Trade Commission Act.--Nothing in 
     this section may be construed to reduce the authority of the 
     Federal Trade Commission to bring enforcement actions under 
     the Federal Trade Commission Act for materially false or 
     deceptive representations or unfair practices on the 
     Internet.
                                 ______
                                 
  SA 3997. Mr. HARKIN submitted an amendment intended to be proposed to 
amendment SA 3983 submitted by Mr. Brownback (for himself, Mr. Dorgan, 
Ms. Cantwell, and Mr. Inouye) to the amendment SA 3899 proposed by Mr. 
Dorgan (for himself, Ms. Murkowski, Mr. Baucus, Mr. Kennedy, Mr. Smith, 
Mr. Nelson of Nebraska, and Mr. Salazar) to the bill S. 1200, to amend 
the Indian Health Care Improvement Act to revise and extend the Act; 
which was ordered to lie on the table; as follows:

       On page 4, line 13, strike ``$150,000 ($300,000'' and 
     insert ``$75,000 ($150,000''.
                                 ______
                                 
  SA 3998. Mr. DORGAN submitted an amendment intended to be proposed by 
him to the bill H.R. 5140, to provide economic stimulus through 
recovery rebates to individuals, incentives for business investment, 
and an increase in conforming and FHA loan limits; which was ordered to 
lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. SUSPENSION OF PETROLEUM ACQUISITION FOR STRATEGIC 
                   PETROLEUM RESERVE.

       (a) In General.--Except as provided in subsection (b) and 
     notwithstanding any other provision of law, during calendar 
     year 2008, the Secretary of Energy shall suspend acquisition 
     of petroleum for the Strategic Petroleum Reserve through the 
     royalty-in-kind program or any other acquisition method.
       (b) Resumption.--The Secretary may resume acquisition of 
     petroleum for the Strategic Petroleum Reserve through the 
     royalty-in-kind program or any other acquisition method under 
     subsection (a) not earlier than 30 days after the date on 
     which the Secretary notifies Congress that the Secretary has 
     determined that the weighted average price of petroleum in 
     the United States for the most recent 90-day period is $50 or 
     less per barrel.
                                 ______
                                 
  SA 3999. Ms. LANDRIEU (for herself and Mr. Vitter) submitted an 
amendment intended to be proposed to amendment SA 3983 proposed by Mr. 
Reid to the bill H.R. 5140, to provide economic stimulus through 
recovery rebates to individuals, incentives for business investment, 
and an increase in conforming and FHA loan limits; which was ordered to 
lie on the table; as follows:

       On page 13, before line 4, insert the following:

     SEC. 102. USE OF AMENDED INCOME TAX RETURNS TO TAKE INTO 
                   ACCOUNT RECEIPT OF CERTAIN HURRICANE-RELATED 
                   CASUALTY LOSS GRANTS BY DISALLOWING PREVIOUSLY 
                   TAKEN CASUALTY LOSS DEDUCTIONS.

       Notwithstanding any other provision of the Internal Revenue 
     Code of 1986, if a taxpayer claims a deduction for any 
     taxable year with respect to a casualty loss to a personal 
     residence (within the meaning of section 121 of such Code) 
     resulting from Hurricane Katrina or Hurricane Rita and in a 
     subsequent taxable year receives a grant under Public Law 
     109-148, 109-234, or 110-116 as reimbursement for such loss 
     from the State of Louisiana or the State of Mississippi, such 
     taxpayer may elect to file an amended income tax return for 
     the taxable year in which such deduction was allowed and 
     disallow such deduction. If elected, such amended return must 
     be filed not later than the due date for filing the tax 
     return for the taxable year in which the taxpayer receives 
     such reimbursement. Any increase in Federal income tax 
     resulting from such disallowance shall not be subject to any 
     penalty or interest under such Code if such amended return is 
     so filed.
                                 ______
                                 
  SA 4000. Ms. LANDRIEU (for herself and Mr. Vitter) submitted an 
amendment intended to be proposed to amendment SA 3983 proposed by Mr. 
Reid to the bill H.R. 5140, to provide economic stimulus through 
recovery rebates to individuals, incentives for business investment, 
and an increase in conforming and FHA loan limits; which was ordered to 
lie on the table; as follows:

       On page 4, line 14, insert ``For purposes of the preceding 
     sentence, adjusted gross income shall not include any income 
     resulting from the recapture of any casualty loss deduction 
     due to the receipt of any grants under Public Law 109-148, 
     109-234, or 110-116.''.

                                 ______
                                 
  SA 4001. Mr. NELSON of Nebraska submitted an amendment intended to be 
proposed to amendment SA 3983 proposed by Mr. Reid to the bill H.R. 
5140, to provide economic stimulus through recovery rebates to 
individuals, incentives for business investment, and an increase in 
conforming and FHA loan limits; which was ordered to lie on the table; 
as follows:

       At the end add the following:

          TITLE VI--TEMPORARY INFRASTRUCTURE GRANTS TO STATES

     SEC. 601. TEMPORARY INFRASTRUCTURE GRANTS TO STATES.

       Section 601 of the Social Security Act (42 U.S.C. 801) is 
     amended to read as follows:

     ``SEC. 601. TEMPORARY INFRASTRUCTURE GRANTS TO STATES.

       ``(a) Appropriation.--There is authorized to be 
     appropriated and is appropriated for making payments to 
     States under this section, $5,000,000,000 for fiscal year 
     2008.
       ``(b) Payments.--From the amount appropriated under 
     subsection (a), the Secretary of the Treasury shall, not 
     later than the later of the date that is 45 days after the 
     date of enactment of this section or the date that a State 
     provides the certification required by subsection (e), pay 
     each State the amount determined for the State under 
     subsection (c).
       ``(c) Payments Based on Population.--
       ``(1) In general.--Subject to paragraph (2), the amount 
     appropriated under subsection (a) shall be used to pay each 
     State an amount equal to the relative population proportion 
     amount described in paragraph (3).
       ``(2) Minimum payment.--
       ``(A) In general.--No State shall receive a payment under 
     this section that is less than--
       ``(i) in the case of 1 of the 50 States or the District of 
     Columbia, \1/2\ of 1 percent of the amount appropriated under 
     subsection (a); and
       ``(ii) in the case of the Commonwealth of Puerto Rico, the 
     United States Virgin Islands, Guam, the Commonwealth of the 
     Northern Mariana Islands, or American Samoa, \1/10\ of 1 
     percent of the amount appropriated under subsection (a).
       ``(B) Pro rata adjustments.--The Secretary of the Treasury 
     shall adjust on a pro rata basis the amount of the payments 
     to States determined under this section without regard to 
     this subparagraph to the extent necessary to comply with the 
     requirements of subparagraph (A).
       ``(3) Relative population proportion amount.--The relative 
     population proportion amount described in this paragraph is 
     the product of--
       ``(A) the amount described in subsection (a); and
       ``(B) the relative State population proportion (as defined 
     in paragraph (4)).
       ``(4) Relative state population proportion defined.--For 
     purposes of paragraph (3)(B), the term `relative State 
     population proportion' means, with respect to a State, the 
     amount equal to the quotient of--
       ``(A) the population of the State (as reported in the most 
     recent decennial census); and
       ``(B) the total population of all States (as reported in 
     the most recent decennial census).
       ``(d) Use of Payment.--
       ``(1) In general.--Subject to paragraph (2), a State shall 
     use the funds provided under a payment made under this 
     section for infrastructure needs, including--
       ``(A) construction, maintenance, or repair of highways and 
     bridges;
       ``(B) mass transit projects;
       ``(C) public works projects, such as water, wastewater 
     treatment, sewer, or drinking water projects; or
       ``(D) other capital construction needs.
       ``(2) Limitation.--A State may only use funds provided 
     under a payment made under this section if such funds are 
     obligated for expenditure before October 1, 2008.
       ``(e) Certification.--In order to receive a payment under 
     this section, the State shall provide the Secretary of the 
     Treasury with a certification that the State's proposed uses 
     of the funds are consistent with subsection (d).
       ``(f) Definition of State.--In this section, the term 
     `State' means the 50 States, the District of Columbia, the 
     Commonwealth of Puerto Rico, the United States Virgin 
     Islands, Guam, the Commonwealth of the Northern Mariana 
     Islands, and American Samoa.
       ``(g) Repeal.--This title is repealed on October 1, 
     2008.''.

[[Page 1452]]


                                 ______
                                 
  SA 4002. Mr. SANDERS (for himself and Mrs. Clinton) submitted an 
amendment intended to be proposed to amendment SA 3983 proposed by Mr. 
Reid to the bill H.R. 5140, to provide economic stimulus through 
recovery rebates to individuals, incentives for business investment, 
and an increase in conforming and FHA loan limits; which was ordered to 
lie on the table; as follows:

       At the appropriate place in the appropriations section, 
     insert the following:
       (__) For an additional amount for community health centers 
     under section 330 of the Public Health Service Act (42 U.S.C. 
     254b), $148,000,000.
       (__) For an additional amount for the weatherization 
     assistance program of the Department of Energy, $500,000,000.
       (__) For an additional amount to carry out title X of the 
     Energy Independence and Security Act of 2007 (Public Law 110-
     140; 121 Stat. 1748) and amendments made by that title, 
     $125,000,000.
       At the appropriate place, insert the following:

     SEC. ___. TEMPORARY INCREASE IN SPECIALLY ADAPTED HOUSING 
                   BENEFITS FOR DISABLED VETERANS.

       (a) In General.--Section 2102 of title 38, United States 
     Code, is amended--
       (1) in subsection (b)(2), by striking ``$10,000'' and 
     inserting ``$12,000''; and
       (2) in subsection (d)--
       (A) in paragraph (1), by striking ``$50,000'' and inserting 
     ``$60,000''; and
       (B) in paragraph (2), by striking ``$10,000'' and inserting 
     ``$12,000''.
       (b) Effective Date.--The amendments made by subsection (a) 
     shall be effective during the period beginning on the date of 
     the enactment of this Act and ending on September 30, 2008.
       (c) Revival.--Effective on October 1, 2008, the provisions 
     of subsection (b)(2) and paragraphs (1) and (2) of subsection 
     (d) of such section 2102, as such provisions were in effect 
     on the day before the date of the enactment of this Act, are 
     hereby revived.

     SEC. ___. TEMPORARY INCREASE IN ASSISTANCE FOR PROVIDING 
                   AUTOMOBILES OR OTHER CONVEYANCES TO CERTAIN 
                   DISABLED VETERANS.

       (a) In General.--Section 3902(a) of title 38, United States 
     Code, is amended by striking ``$11,000'' and inserting 
     ``$22,484''.
       (b) Effective Date.--The amendment made by subsection (a) 
     shall be effective during the period beginning on the date of 
     the enactment of this Act and ending on September 30, 2008.
       (c) Revival.--Effective on October 1, 2008, the provisions 
     of such section 3902(a), as such provisions were in effect on 
     the day before the date of the enactment of this Act, are 
     hereby revived.
                                 ______
                                 
  SA 4003. Mr. SANDERS (for himself and Mrs. Clinton) submitted an 
amendment intended to be proposed to amendment SA 3983 proposed by Mr. 
Reid to the bill H.R. 5140, to provide economic stimulus through 
recovery rebates to individuals, incentives for business investment, 
and an increase in conforming and FHA loan limits; which was ordered to 
lie on the table; as follows:

       On page 69, strike lines 1 through 4 and insert the 
     following:

                   TITLE V--ADDITIONAL APPROPRIATIONS

     SEC. 501. WEATHERIZATION ASSISTANCE.

       In addition to amounts available as of the date of 
     enactment of this Act for the weatherization assistance 
     program of the Department of Energy, there is hereby 
     appropriated for that program $500,000,000.

        TITLE VI--EMERGENCY DESIGNATION OF APPROPRIATED AMOUNTS

     SEC. 601. EMERGENCY DESIGNATION.

                                 ______
                                 
  SA 4004. Mr. SANDERS (for himself, Mrs. Clinton, and Mr. Kerry) 
submitted an amendment intended to be proposed to amendment SA 3983 
proposed by Mr. Reid to the bill H.R. 5140, to provide economic 
stimulus through recovery rebates to individuals, incentives for 
business investment, and an increase in conforming and FHA loan limits; 
which was ordered to lie on the table; as follows:

       On page 69, strike lines 1 through 4 and insert the 
     following:

                   TITLE V--ADDITIONAL APPROPRIATIONS

     SEC. 501. GREEN JOBS.

       In addition to amounts available as of the date of 
     enactment of this Act to carry out title X of the Energy 
     Independence and Security Act of 2007 (Public Law 110-140; 
     121 Stat. 1748) and amendments made by that title, there is 
     hereby appropriated for that title and those amendments 
     $125,000,000.

        TITLE VI--EMERGENCY DESIGNATION OF APPROPRIATED AMOUNTS

     SEC. 601. EMERGENCY DESIGNATION.

                                 ______
                                 
  SA 4005. Mr. SANDERS submitted an amendment intended to be proposed 
to amendment SA 3983 proposed by Mr. Reid to the bill H.R. 5140, to 
provide economic stimulus through recovery rebates to individuals, 
incentives for business investment, and an increase in conforming and 
FHA loan limits; which was ordered to lie on the table; as follows:

       At the appropriate place in the appropriations section, 
     insert the following:
       (__) For an additional amount for community health centers 
     under section 330 of the Public Health Service Act (42 U.S.C. 
     254b), $148,000,000.
                                 ______
                                 
  SA 4006. Mr. CHAMBLISS (for himself, Mr. Crapo, Mr. DeMint, and Mr. 
Coburn) submitted an amendment intended to be proposed to amendment SA 
3983 proposed by Mr. Reid to the bill H.R. 5140, to provide economic 
stimulus through recovery rebates to individuals, incentives for 
business investment, and an increase in conforming and FHA loan limits; 
which was ordered to lie on the table; as follows:

       Strike title V.
                                 ______
                                 
  SA 4007. Mr. WYDEN (for himself, Mr. Thune, Mr. Dodd, Mr. Shelby, 
Mrs. Clinton, Mr. Durbin, Mr. Harkin, Mr. Johnson, Mr. Menendez, Ms. 
Mikulski, Mr. Reed, Mr. Sanders, Mr. Schumer, and Mr. Webb) submitted 
an amendment intended to be proposed to amendment SA 3983 proposed by 
Mr. Reid to the bill H.R. 5140, to provide economic stimulus through 
recovery rebates to individuals, incentives for business investment, 
and an increase in conforming and FHA loan limits; which was ordered to 
lie on the table; as follows:

       At the end, add the following:

           TITLE VI--INCREASED FUNDING FOR HIGHWAY TRUST FUND

     SEC. 601. REPLENISH EMERGENCY SPENDING FROM HIGHWAY TRUST 
                   FUND.

       (a) In General.--Section 9503(b) of the Internal Revenue 
     Code of 1986 is amended--
       (1) by adding at the end the following new paragraph:
       ``(7) Emergency spending replenishment.--There is hereby 
     appropriated to the Highway Trust Fund $5,000,000,000, of 
     which--
       ``(A) $4,000,000,000 shall be deposited in the Highway 
     Account; and
       ``(B) $1,000,000,000 shall be deposited in the Mass Transit 
     Account.'', and
       (2) by striking ``Amounts Equivalent to Certain Taxes and 
     Penalties'' in the heading and inserting ``Certain Amounts''.
       (b) Effective Date.--The amendments made by this section 
     shall take effect on the date of the enactment of this Act.

     SEC. 602. OBLIGATION AUTHORITY FOR STIMULUS PROJECTS.

       (a) In General.--Section 1102 of the Safe, Accountable, 
     Flexible, Efficient Transportation Equity Act: A Legacy for 
     Users (23 U.S.C. 104 note; Public Law 109-59) is amended--
       (1) in subsection (a)--
       (A) in the matter preceding paragraph (1), by striking 
     ``(g) and (h)'' and inserting ``(g), (h), and (l)''; and
       (B) paragraph (4), by striking ``$39,585,075,404'' and 
     inserting ``$43,585,075,404''; and
       (2) by adding at the end the following:
       ``(l) Obligation Authority for Stimulus Projects.--
       ``(1) In general.--Of the obligation authority distributed 
     under subsection (a)(4), not less than $4,000,000,000 shall 
     be provided to States for use in carrying out highway 
     projects that the States determine will provide rapid 
     economic stimulus.
       ``(2) Requirement.--A State that seeks a distribution of 
     the obligation authority described in paragraph (1) shall 
     agree to obligate funds so received not later than 120 days 
     after the date on which the State receives the funds.
       ``(3) Flexibility.--A State that receives a distribution of 
     the obligation authority described in paragraph (1) may use 
     the funds for any highway project described in paragraph (1), 
     regardless of any funding limitation or formula that is 
     otherwise applicable to projects carried out using obligation 
     authority under this section.
       ``(4) Federal share.--The Federal share of any highway 
     project carried out using funds described in paragraph (1) 
     shall be 100 percent.''.
       (b) Conforming Amendments.--
       (1) The matter under the heading ``(including transfer of 
     funds)'' under the heading ``(highway trust fund)'' under the 
     heading ``(limitation on obligations)'' under the heading 
     ``federal-aid highways'' under the heading ``Federal Highway 
     Administration'' of title I of division K of the Consolidated 
     Appropriations Act, 2008 (Public Law 110-161; 121 Stat. 1844) 
     is amended by striking ``$40,216,051,359'' and inserting 
     ``$44,216,051,359''.

[[Page 1453]]

       (2) The matter under the heading ``(including rescission)'' 
     under the heading ``(highway trust fund)'' under the heading 
     ``(limitation on obligations)'' under the heading 
     ``(liquidation of contract authority)'' under the heading 
     ``formula and bus grants'' under the heading ``Federal 
     Transit Administration'' of title I of division K of the 
     Consolidated Appropriations Act, 2008 (Public Law 110-161; 
     121 Stat. 1844) is amended by striking ``$6,855,000,000'' and 
     inserting ``, and section 3052 of Public Law 109-59, 
     $7,855,000,000''.
       (3) Sections 9503(c)(1) and 9503(e)(3) of the Internal 
     Revenue Code of 1986 are each amended by inserting ``, as 
     amended by the Economic Stimulus Act of 2008,''.

     SEC. 603. STIMULUS OF MANUFACTURING AND CONSTRUCTION THROUGH 
                   PUBLIC TRANSPORTATION INVESTMENT.

       (a) In General.--Title III of the Safe, Accountable, 
     Flexible, Efficient Transportation Equity Act: A Legacy for 
     Users (Public Law 109-59; 119 Stat. 1544) is amended by 
     adding at the end the following:

     ``SEC. 3052. STIMULUS OF MANUFACTURING AND CONSTRUCTION 
                   THROUGH PUBLIC TRANSPORTATION INVESTMENT.

       ``(a) Authorization.--The Secretary is authorized to make 
     stimulus grants under this section to public transportation 
     agencies.
       ``(b) Eligible Recipients.--Stimulus grants authorized 
     under subsection (a) may be awarded--
       ``(1) to public transportation agencies which have a full 
     funding grant agreement in force on the date of enactment of 
     this section with Federal payments scheduled in any year 
     beginning with fiscal year 2008, for activities authorized 
     under the full funding grant agreement that would expedite 
     construction of the project; and
       ``(2) to designated recipients as defined in section 5307 
     of title 49, United States Code, for immediate use to address 
     a backlog of existing maintenance needs or to purchase 
     rolling stock or buses, if the contracts for such purchases 
     are in place prior to the grant award.
       ``(c) Use of Funds.--Of the amounts made available to carry 
     out this section, the Secretary shall use to make grants 
     under this section--
       ``(1) $300,000,000 for stimulus grants to recipients 
     described in subsection (b)(1); and
       ``(2) $700,000,000 for stimulus grants to recipients 
     described in subsection (b)(2).
       ``(d) Distribution of Funds.--
       ``(1) Expedited new starts grants.--Funds described in 
     subsection (c)(1) shall be distributed among eligible 
     recipients so that each recipient receives an equal 
     percentage increase based on the Federal funding commitment 
     for fiscal year 2008 specified in Attachment 6 of the 
     recipient's full funding grant agreement.
       ``(2) Formula grants.--Of the funds described in subsection 
     (c)(2)--
       ``(A) 60 percent shall be distributed according to the 
     formula in subsections (a) through (c) of section 5336 of 
     title 49, United States Code; and
       ``(B) 40 percent shall be distributed according to the 
     formula in section 5340 of title 49, United States Code.
       ``(3) Allocation.--The Secretary shall determine the 
     allocation of the amounts described in subsection (c)(1) and 
     shall apportion amounts described in subsection (c)(2) not 
     later than 20 days after the date of enactment of this 
     section.
       ``(4) Notification to congress.--The Secretary shall notify 
     the committees referred to in section 5334(k) of title 49, 
     United States Code, of the allocations determined under 
     paragraph (3) not later than 3 days after such determination 
     is made.
       ``(5) Obligation requirement.--The Secretary shall obligate 
     the funds described in subsection (c)(1) as expeditiously as 
     practicable, but in no case later than 120 days after the 
     date of enactment of this section.
       ``(e) Pre-Award Spending Authority.--
       ``(1) In general.--A recipient of a grant under this 
     section shall have pre-award spending authority.
       ``(2) Requirements.--Any expenditure made pursuant to pre-
     award spending authorized by this subsection shall conform 
     with applicable Federal requirements in order to remain 
     eligible for future Federal reimbursement.
       ``(f) Federal Share.--The Federal share of a stimulus grant 
     authorized under this section shall be 100 percent.
       ``(g) Self-Certification.--
       ``(1) In general.--Prior to the obligation of stimulus 
     grant funds under this section, the recipient of the grant 
     award shall certify--
       ``(A) for recipients described in subsection (b)(1), that 
     the recipient will comply with the terms and conditions that 
     apply to grants under section 5309 of title 49, United States 
     Code;
       ``(B) for recipients under subsection (b)(2), that the 
     recipient will comply with the terms and conditions that 
     apply to grants under section 5307 of title 49, United States 
     Code; and
       ``(C) that the funds will be used in a manner that will 
     stimulate the economy.
       ``(2) Certification.--Required certifications may be made 
     as part of the certification required under section 
     5307(d)(1) of title 49, United States Code.
       ``(3) Audit.--If, upon the audit of any recipient under 
     this section, the Secretary finds that the recipient has not 
     complied with the requirements of this section and has not 
     made a good-faith effort to comply, the Secretary may 
     withhold not more than 25 percent of the amount required to 
     be appropriated for that recipient under section 5307 of 
     title 49, United States Code, for the following fiscal year 
     if the Secretary notifies the committees referred to in 
     subsection (d)(4) at least 21 days prior to such 
     withholding.''.
       (b) Stimulus Grant Funding.--Section 5338 of title 49, 
     United States Code, is amended by adding at the end the 
     following:
       ``(h) Stimulus Grant Funding.--For fiscal year 2008, 
     $1,000,000,000 shall be available from the Mass Transit 
     Account of the Highway Trust Fund to carry out section 3052 
     of the Safe, Accountable, Flexible, Efficient Transportation 
     Equity Act: A Legacy for Users.''.
       (c) Expanded Bus Service in Small Communities.--Section 
     5307(b)(2) of title 49, United States Code, is amended--
       (1) in the paragraph heading, by striking ``2007'' and 
     inserting ``2009'';
       (2) in subparagraph (A), by striking ``2007'' and inserting 
     ``2009''; and
       (3) by adding at the end the following:
       ``(E) Maximum amounts in fiscal years 2008 and 2009.--In 
     fiscal years 2008 and 2009--
       ``(i) amounts made available to any urbanized area under 
     clause (i) or (ii) of subparagraph (A) shall be not more than 
     50 percent of the amount apportioned in fiscal year 2002 to 
     the urbanized area with a population of less than 200,000, as 
     determined in the 1990 decennial census of population;
       ``(ii) amounts made available to any urbanized area under 
     subparagraph (A)(iii) shall be not more than 50 percent of 
     the amount apportioned to the urbanized area under this 
     section for fiscal year 2003; and
       ``(iii) each portion of any area not designated as an 
     urbanized area, as determined by the 1990 decennial census, 
     and eligible to receive funds under subparagraph (A)(iv), 
     shall receive an amount of funds to carry out this section 
     that is not less than 50 percent of the amount the portion of 
     the area received under section 5311 in fiscal year 2002.''.
                                 ______
                                 
  SA 4008. Mr. McCONNELL (for himself, Mr. Stevens, Mr. Roberts, Mr. 
Bond, Mr. Brownback, Mr. Bunning, Mr. Cornyn, Mr. Hatch, Mr. Sununu, 
Mr. Alexander, Mr. Burr, Mr. Isakson, Mr. Vitter, Mr. Thune, Mr. 
Chambliss, Mr. Kyl, Mr. Graham, Mr. Craig, and Mr. Crapo) submitted an 
amendment intended to be proposed by him to the bill H.R. 5140, to 
provide economic stimulus through recovery rebates to individuals, 
incentives for business investment, and an increase in conforming and 
FHA loan limits; which was ordered to lie on the table; as follows:

       Beginning on page 2, strike line 4 and all that follows 
     through page 10, line 20, and insert the following:

     SEC. 101. 2008 RECOVERY REBATES FOR INDIVIDUALS.

       (a) In General.--Section 6428 of the Internal Revenue Code 
     of 1986 is amended to read as follows:

     ``SEC. 6428. 2008 RECOVERY REBATES FOR INDIVIDUALS.

       ``(a) In General.--In the case of an eligible individual, 
     there shall be allowed as a credit against the tax imposed by 
     subtitle A for the first taxable year beginning in 2008 an 
     amount equal to the lesser of--
       ``(1) net income tax liability, or
       ``(2) $600 ($1,200 in the case of a joint return).
       ``(b) Special Rules.--
       ``(1) In general.--In the case of a taxpayer described in 
     paragraph (2)--
       ``(A) the amount determined under subsection (a) shall not 
     be less than $300 ($600 in the case of a joint return), and
       ``(B) the amount determined under subsection (a) (after the 
     application of subparagraph (A)) shall be increased by the 
     product of $300 multiplied by the number of qualifying 
     children (within the meaning of section 24(c)) of the 
     taxpayer.
       ``(2) Taxpayer described.--A taxpayer is described in this 
     paragraph if the taxpayer--
       ``(A) has qualifying income of at least $3,000, or
       ``(B) has--
       ``(i) net income tax liability which is greater than zero, 
     and
       ``(ii) gross income which is greater than the sum of the 
     basic standard deduction plus the exemption amount (twice the 
     exemption amount in the case of a joint return).
       ``(c) Treatment of Credit.--The credit allowed by 
     subsection (a) shall be treated as allowed by subpart C of 
     part IV of subchapter A of chapter 1.
       ``(d) Limitation Based on Adjusted Gross Income.--The 
     amount of the credit allowed by subsection (a) (determined 
     without regard to this subsection and subsection (f)) shall 
     be reduced (but not below zero) by 5 percent of so much of 
     the taxpayer's adjusted gross income as exceeds $75,000 
     ($150,000 in the case of a joint return).
       ``(e) Definitions.--For purposes of this section--

[[Page 1454]]

       ``(1) Net income tax liability.--The term `net income tax 
     liability' means the excess of--
       ``(A) the sum of the taxpayer's regular tax liability 
     (within the meaning of section 26(b)) and the tax imposed by 
     section 55 for the taxable year, over
       ``(B) the credits allowed by part IV (other than section 24 
     and subpart C thereof) of subchapter A of chapter 1.
       ``(2) Eligible individual.--The term `eligible individual' 
     means any individual other than--
       ``(A) any nonresident alien individual,
       ``(B) any individual with respect to whom a deduction under 
     section 151 is allowable to another taxpayer for a taxable 
     year beginning in the calendar year in which the individual's 
     taxable year begins, and
       ``(C) an estate or trust.
       ``(3) Qualifying income.--The term `qualifying income' 
     means--
       ``(A) earned income,
       ``(B) social security benefits (within the meaning of 
     section 86(d)), and
       ``(C) any compensation or pension received under chapter 
     11, chapter 13, or chapter 15 of title 38, United States 
     Code.
       ``(4) Earned income.--The term `earned income' has the 
     meaning set forth in section 32(c)(2) except that--
       ``(A) subclause (II) of subparagraph (B)(vi) thereof shall 
     be applied by substituting `January 1, 2009' for `January 1, 
     2008', and
       ``(B) such term shall not include net earnings from self-
     employment which are not taken into account in computing 
     taxable income.
       ``(5) Basic standard deduction; exemption amount.--The 
     terms `basic standard deduction' and `exemption amount' shall 
     have the same respective meanings as when used in section 
     6012(a).
       ``(f) Coordination With Advance Refunds of Credit.--
       ``(1) In general.--The amount of credit which would (but 
     for this paragraph) be allowable under this section shall be 
     reduced (but not below zero) by the aggregate refunds and 
     credits made or allowed to the taxpayer under subsection (g). 
     Any failure to so reduce the credit shall be treated as 
     arising out of a mathematical or clerical error and assessed 
     according to section 6213(b)(1).
       ``(2) Joint returns.--In the case of a refund or credit 
     made or allowed under subsection (g) with respect to a joint 
     return, half of such refund or credit shall be treated as 
     having been made or allowed to each individual filing such 
     return.
       ``(g) Advance Refunds and Credits.--
       ``(1) In general.--Each individual who was an eligible 
     individual for such individual's first taxable year beginning 
     in 2007 shall be treated as having made a payment against the 
     tax imposed by chapter 1 for such first taxable year in an 
     amount equal to the advance refund amount for such taxable 
     year.
       ``(2) Advance refund amount.--For purposes of paragraph 
     (1), the advance refund amount is the amount that would have 
     been allowed as a credit under this section for such first 
     taxable year if this section (other than subsection (f) and 
     this subsection) had applied to such taxable year.
       ``(3) Timing of payments.--The Secretary shall, subject to 
     the provisions of this title, refund or credit any 
     overpayment attributable to this section as rapidly as 
     possible. No refund or credit shall be made or allowed under 
     this subsection after December 31, 2008.
       ``(4) No interest.--No interest shall be allowed on any 
     overpayment attributable to this section.
       ``(h) Identification Number Requirement.--
       ``(1) In general.--No credit shall be allowed under 
     subsection (a) to an eligible individual who does not include 
     on the return of tax for the taxable year--
       ``(A) such individual's valid identification number,
       ``(B) in the case of a joint return, the valid 
     identification number of such individual's spouse, and
       ``(C) in the case of any qualifying child taken into 
     account under subsection (b)(1)(B), the valid identification 
     number of such qualifying child.
       ``(2) Valid identification number.--For purposes of 
     paragraph (1), the term `valid identification number' means a 
     social security number issued to an individual by the Social 
     Security Administration. Such term shall not include a TIN 
     issued by the Internal Revenue Service.
       ``(i) Coordination With Deficiency Procedures.--For 
     purposes of sections 6211(b)(4)(A) and 6213(g)(2)(F), any 
     reference to section 32 shall be treated as including a 
     reference to this section.''.
       (b) Treatment of Possessions.--
       (1) Mirror code possession.--The Secretary of the Treasury 
     shall make a payment to each possession of the United States 
     with a mirror code tax system in an amount equal to the loss 
     to that possession by reason of the amendments made by this 
     section. Such amount shall be determined by the Secretary of 
     the Treasury based on information provided by the government 
     of the respective possession.
       (2) Other possessions.--The Secretary of the Treasury shall 
     make a payment to each possession of the United States which 
     does not have a mirror code tax system in an amount estimated 
     by the Secretary of the Treasury as being equal to the 
     aggregate benefits that would have been provided to residents 
     of such possession by reason of the amendments made by this 
     section if a mirror code tax system had been in effect in 
     such possession. The preceding sentence shall not apply with 
     respect to any possession of the United States unless such 
     possession has a plan, which has been approved by the 
     Secretary of the Treasury, under which such possession will 
     promptly distribute such payment to the residents of such 
     possession.
       (3) Definitions and special rules.--
       (A) Possession of the united states.--For purposes of this 
     subsection, the term ``possession of the United States'' 
     includes the Commonwealth of Puerto Rico and the Commonwealth 
     of the Northern Mariana Islands.
       (B) Mirror code tax system.--For purposes of this 
     subsection, the term ``mirror code tax system'' means, with 
     respect to any possession of the United States, the income 
     tax system of such possession if the income tax liability of 
     the residents of such possession under such system is 
     determined by reference to the income tax laws of the United 
     States as if such possession were the United States.
       (C) Treatment of payments.--For purposes of section 
     1324(b)(2) of title 31, United States Code, the payments 
     under this subsection shall be treated in the same manner as 
     a refund due from the credit allowed under section 6428 of 
     the Internal Revenue Code of 1986 (as added by this section).
       (c) Appropriations To Carry Out Recovery Rebates.--
       (1) In general.--The following sums are hereby 
     appropriated, out of any money in the Treasury not otherwise 
     appropriated, for the fiscal year ending September 30, 2008, 
     to implement the provisions of this section (including the 
     amendments made by this section):
       (A) For an additional amount for ``Department of the 
     Treasury--Financial Management Service--Salaries and 
     Expenses'', $64,175,000, to remain available until September 
     30, 2009.
       (B) For an additional amount for ``Department of the 
     Treasury--Internal Revenue Service--Taxpayer Services'', 
     $50,720,000, to remain available until September 30, 2009.
       (C) For an additional amount for ``Department of the 
     Treasury--Internal Revenue Service--Operations Support'', 
     $151,415,000, to remain available until September 30, 2009.
       (2) Reports.--No later than 15 days after enactment of this 
     Act, the Secretary of the Treasury shall submit a plan to the 
     Committees on Appropriations of the House of Representatives 
     and the Senate detailing the expected use of the funds 
     provided by this subsection. Beginning 90 days after 
     enactment of this Act, the Secretary of the Treasury shall 
     submit a quarterly report to the Committees on Appropriations 
     of the House of Representatives and the Senate detailing the 
     actual expenditure of funds provided by this subsection and 
     the expected expenditure of such funds in the subsequent 
     quarter.
       (d) Refunds Disregarded in the Administration of Federal 
     Programs and Federally Assisted Programs.--Any credit or 
     refund allowed or made to any individual by reason of section 
     6428 of the Internal Revenue Code of 1986 (as amended by this 
     section) or by reason of subsection (b) of this section shall 
     not be taken into account as income and shall not be taken 
     into account as resources for the month of receipt and the 
     following two months, for purposes of determining the 
     eligibility of such individual or any other individual for 
     benefits or assistance, or the amount or extent of benefits 
     or assistance, under any Federal program or under any State 
     or local program financed in whole or in part with Federal 
     funds.
       (e) Conforming Amendments.--
       (1) Paragraph (2) of section 1324(b) of title 31, United 
     States Code, is amended by inserting ``or 6428'' after 
     ``section 35''.
       (2) Paragraph (1) of section 1(i) of the Internal Revenue 
     Code of 1986 is amended by striking subparagraph (D).
       (3) The item relating to section 6428 in the table of 
     sections for subchapter B of chapter 65 of such Code is 
     amended to read as follows:

``Sec. 6428. 2008 recovery rebates for individuals.''.

     SEC. 102. TEMPORARY INCREASE IN LIMITATIONS ON EXPENSING OF 
                   CERTAIN DEPRECIABLE BUSINESS ASSETS.

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