[Congressional Record (Bound Edition), Volume 155 (2009), Part 19]
[Senate]
[Pages 25437-25438]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           TEXT OF AMENDMENTS

  SA 2698. Mr. FEINGOLD submitted an amendment intended to be proposed 
by him to the bill H.R. 3548, to amend the Supplemental Appropriations 
Act, 2008 to provide for the temporary availability of certain 
additional emergency unemployment compensation, and for other purposes; 
which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. ___. ELIMINATION OF AUTOMATIC PAY ADJUSTMENTS FOR 
                   MEMBERS OF CONGRESS.

       (a) In General.--Paragraph (2) of section 601(a) of the 
     Legislative Reorganization Act of 1946 (2 U.S.C. 31) is 
     repealed.
       (b) Technical and Conforming Amendments.--Section 601(a)(1) 
     of such Act is amended--
       (1) by striking ``(a)(1)'' and inserting ``(a)'';
       (2) by redesignating subparagraphs (A), (B), and (C) as 
     paragraphs (1), (2), and (3), respectively; and
       (3) by striking ``as adjusted by paragraph (2) of this 
     subsection'' and inserting ``adjusted as provided by law''.
       (c) Effective Date.--This section shall take effect on 
     December 31, 2010.
                                 ______
                                 
  SA 2699. Mr. ISAKSON (for himself and Mr. Dodd) submitted an 
amendment intended to be proposed by him to the bill H.R. 3548, to 
amend the Supplemental Appropriations Act, 2008 to provide for the 
temporary availability of certain additional emergency unemployment 
compensation, and for other purposes; which was ordered to lie on the 
table; as follows:

       At the end, insert the following:

     SEC. __. CREDIT FOR CERTAIN HOME PURCHASES.

       (a) Elimination of First-Time Homebuyer Requirement.--
       (1) In general.--Subsection (a) of section 36 of the 
     Internal Revenue Code of 1986 is amended by striking ``who is 
     a first-time homebuyer of a principal residence'' and 
     inserting ``who purchases a principal residence''.
       (2) Conforming amendments.--
       (A) Subsection (c) of section 36 of such Code is amended by 
     striking paragraph (1) and by redesignating paragraphs (2), 
     (3), (4), and (5) as paragraphs (1), (2), (3), and (4), 
     respectively.
       (B) Section 36 of such Code is amended by striking ``FIRST-
     TIME HOMEBUYER CREDIT'' in the heading and inserting ``HOME 
     PURCHASE CREDIT''.
       (C) The table of sections for subpart C of part IV of 
     subchapter A of chapter 1 of such Code is amended by striking 
     the item relating to section 36 and inserting the following 
     new item:

``Sec. 36. Home purchase credit.''.

       (D) Subparagraph (W) of section 26(b)(2) of such Code is 
     amended by striking ``homebuyer credit'' and inserting ``home 
     purchase credit''.
       (b) Expansion of Application Period.--
       (1) In general.--Subsection (h) of section 36 of the 
     Internal Revenue Code of 1986 is amended by striking 
     ``December 1, 2009'' and inserting ``July 1, 2010''.
       (2) Waiver of recapture.--
       (A) In general.--Subparagraph (D) of section 36(f) of such 
     Code is amended by striking ``December 1, 2009'' and 
     inserting ``July 1, 2010''.
       (B) Conforming amendment.--The heading of such subparagraph 
     (D) is amended by inserting ``and 2010'' after ``2009''.
       (3) Election to treat purchase in prior year.--Subsection 
     (g) of section 36 of such Code is amended--
       (A) by striking ``December 1, 2009'' and inserting 
     ``January 1, 2010'', and
       (B) by adding at the end the following: ``In the case of a 
     purchase of a principal residence after December 31, 2009, 
     and before July 1, 2010, a taxpayer may elect to treat such 
     purchase as made on December 31, 2009, for purposes of this 
     section (other than subsections (c) and (f)(4)(D)).''.
       (c) Modification of Income Limitation.--Subsection (b) of 
     section 36 of the Internal Revenue Code of 1986 is amended--
       (1) by striking ``$150,000'' in paragraph (2)(A)(i)(II) and 
     inserting ``$300,000'', and
       (2) by striking ``$75,000'' in such paragraph (2)(A)(i)(II) 
     and inserting ``$150,000''.
       (d) Waiver of Accelerated Recapture for Members of the 
     Armed Forces.--Paragraph (4) of section 36(f) of the Internal 
     Revenue Code of 1986 is amended by adding at the end the 
     following new subparagraph:
       ``(E) Relocation of members of the armed forces.--Paragraph 
     (2) shall not apply in the case of a member of the Armed 
     Forces of the United States on active duty who moves pursuant 
     to a military order and incident to a permanent change of 
     station.''.
       (e) Effective Date.--
       (1) In general.--Except as provided in paragraph (2), the 
     amendments made by this section shall apply to residences 
     purchased on or after the date of the enactment of this Act.
       (2) Extension.--The amendments made by subsection (b) shall 
     apply to residences purchased after November 30, 2009.

     SEC. __. PROVISIONS TO ENHANCE THE ADMINISTRATION OF THE 
                   FIRST-TIME HOMEBUYER TAX CREDIT.

       (a) Age Limitation.--
       (1) In general.--Subsection (b) of section 36 of the 
     Internal Revenue Code of 1986 is amended by adding at the end 
     the following new paragraph:
       ``(3) Age limitation.--No credit shall be allowed under 
     subsection (a) with respect to the purchase of any residence 
     unless the taxpayer has attained age 18 as of the date of 
     such purchase. In the case of any taxpayer who is married 
     (within the meaning of section 7703), the taxpayer shall be 
     treated as meeting the age requirement of the preceding 
     sentence if the taxpayer or the taxpayer's spouse meets such 
     age requirement.''.
       (2) Conforming amendment.--Subsection (g) of section 36 of 
     such Code, as amended by this Act, is amended by striking 
     ``subsections (c) and (f)(4)(D)'' each place it appears and 
     inserting ``subsection (b)(3), (c), and (f)(4)(D)''.
       (b) Documentation Requirement.--Subsection (d) of section 
     36 of such Code is amended by striking ``or'' at the end of 
     paragraph (1), by striking the period at the end of paragraph 
     (2) and inserting ``, or'', and by

[[Page 25438]]

     adding at the end the following new paragraph:
       ``(3) the taxpayer fails to attach to the return of tax for 
     such taxable year a properly executed copy of the settlement 
     statement used to complete such purchase.''.
       (c) Restriction on Married Individual Acquiring Residence 
     From Family of Spouse.--Clause (i) of section 36(c)(2)(A) of 
     such Code, as redesignated by this Act, is amended by 
     inserting ``(or, if married, such individual's spouse)'' 
     after ``person acquiring such property''.
       (d) Certain Errors With Respect to the First-Time Homebuyer 
     Tax Credit Treated as Mathematical or Clerical Errors.--
     Paragraph (2) of section 6213(g) of such Code is amended by 
     striking ``and'' at the end of subparagraph (M), by striking 
     the period at the end of subparagraph (N) and inserting ``, 
     and'', and by inserting after subparagraph (N) the following 
     new subparagraph:
       ``(O) an entry on a return claiming the credit under 
     section 36 if--
       ``(i) the Secretary obtains information from the person 
     issuing the TIN of the taxpayer that indicates that the 
     taxpayer does not meet the age requirement of section 
     36(b)(3),
       ``(ii) information provided to the Secretary by the 
     taxpayer on an income tax return for at least one of the 2 
     preceding taxable years is inconsistent with eligibility for 
     such credit, or
       ``(iii) the taxpayer fails to attach to the return the form 
     described in section 36(d)(3).''.
       (e) Effective Date.--
       (1) In general.--Except as otherwise provided in this 
     subsection, the amendments made by this section shall apply 
     to purchases after the date of the enactment of this Act.
       (2) Documentation requirement.--The amendments made by 
     subsection (b) shall apply to returns for taxable years 
     ending after the date of the enactment of this Act.
       (3) Treatment as mathematical and clerical errors.--The 
     amendments made by subsection (d) shall apply to returns for 
     taxable years ending on or after April 9, 2008.

     SEC. __. CERTAIN TAX RETURN PREPARERS REQUIRED TO FILE 
                   RETURNS ELECTRONICALLY.

       (a) In General.--Subsection (e) of section 6011 of the 
     Internal Revenue Code of 1986 is amended by adding at the end 
     the following new paragraph:
       ``(3) Special rule for tax return preparers.--
       ``(A) In general.--The Secretary shall require than any 
     individual income tax return prepared by a tax return 
     preparer be filed on magnetic media if--
       ``(i) such return is filed by such tax return preparer, and
       ``(ii) such tax return preparer is a specified tax return 
     preparer for the calendar year during which such return is 
     filed.
       ``(B) Specified tax return preparer.--For purposes of this 
     paragraph, the term `specified tax return preparer' means, 
     with respect to any calendar year, any tax return preparer 
     unless such preparer reasonably expects to file 100 or fewer 
     individual income tax returns during such calendar year.
       ``(C) Individual income tax return.--For purposes of this 
     paragraph, the term `individual income tax return' means any 
     return of the tax imposed by subtitle A on individuals, 
     estates, or trusts.''.
       (b) Conforming Amendment.--Paragraph (1) of section 6011(e) 
     of such Code is amended by striking ``The Secretary may not'' 
     and inserting ``Except as provided in paragraph (3), the 
     Secretary may not''.
       (c) Effective Date.--The amendments made by this section 
     shall apply to returns filed after December 31, 2010.

     SEC. __. EXPANSION OF INFORMATION REPORTING REQUIREMENTS.

       (a) In General.--Section 6041 of the Internal Revenue Code 
     of 1986 is amended by adding at the end the following new 
     subsections:
       ``(h) Application to Corporations.--Notwithstanding any 
     regulation prescribed by the Secretary before the date of the 
     enactment of this subsection, for purposes of this section 
     the term `person' includes any corporation that is not an 
     organization exempt from tax under section 501(a).
       ``(i) Regulations.--The Secretary may prescribe such 
     regulations and other guidance as may be appropriate or 
     necessary to carry out the purposes of this section, 
     including rules to prevent duplicative reporting of 
     transactions.''.
       (b) Payments for Property and Other Gross Proceeds.--
     Subsection (a) of section 6041 of the Internal Revenue Code 
     of 1986 is amended--
       (1) by inserting ``amounts in consideration for property,'' 
     after ``wages,'',
       (2) by inserting ``gross proceeds,'' after ``emoluments, or 
     other'', and
       (3) by inserting ``gross proceeds,'' after ``setting forth 
     the amount of such''.
       (c) Effective Date.--The amendments made by this section 
     shall apply to payments made after December 31, 2011.

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