April 3, 2008, 12:00 am ET - Amendment SA 4389 proposed by Senator Landrieu to Amendment SA 4387. (consideration: CR S2413-2415, S2423-2424; text: S2413; text as modified: CR S2423-2424)
April 4, 2008, 12:00 am ET - Considered by Senate.
April 4, 2008, 12:00 am ET - Point of order raised in Senate with respect to amendment SA 4389.
April 4, 2008, 12:00 am ET - The point of order was moot.
April 4, 2008, 12:00 am ET - Amendment SA 4389 as modified agreed to in Senate by Voice Vote.
April 4, 2008, 9:34 am ET - Motion to Waive S. Con. Res. 21, sec. 204. Re: Landrieu Amdt. No. 4389, As Further Modified
April 9, 2008, 12:00 am ET - Amendment SA 4389, previously agreed to, was modified further by Unanimous Consent.
Full Text of this Amendment
to amend the Internal Revenue Code of 1986 to provide tax incentives for the production of renewable energy and energy conservation; which was ordered to lie on the table; as follows:
At the end add the following:
TITLE--HURRICANE-RELATED CASUALTY LOSSES
SEC. X01. 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 or the date that is 4 months after the date of the enactment of this Act, whichever is later. 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.
TITLE--GO ZONE PROPERTY
SEC. X01. WAIVER OF DEADLINE ON CONSTRUCTION OF GO ZONE PROPERTY ELIGIBLE FOR BONUS DEPRECIATION.
(a) In General.--Subparagraph (B) of section 1400N(d)(3) of the Internal Revenue Code of 1986 is amended to read as follows:
``(B) without regard to `and before January 1, 2009' in clause (i) thereof,''.
(b) Effective Date.--The amendment made by this section shall apply to property placed in service after December 31, 2007.
(As printed in the Congressional Record for the Senate on Apr 3, 2008.)