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Full Text of this Amendment
energy production, and modernizing our energy infrastructure, and 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 of title VI, add the following:
SEC. 6__. MODIFICATIONS RELATING TO QUALIFIED VETERANS' MORTGAGE BONDS.
(a) Increased Limitation for Certain States.--
(1) IN GENERAL.--Section 143(l)(3)(B)(ii) of the Internal Revenue Code of 1986 is amended to read as follows:
``(ii) ALASKA, OREGON, AND WISCONSIN.--In the case of the following States, the State veterans limit for any calendar year is the amount equal to--
``(I) $100,000,000 for the State of Alaska,
``(II) $100,000,000 for the State of Oregon, and
``(III) $100,000,000 for the State of Wisconsin.''.
(2) REPEAL OF PHASEIN.--Section 143(l)(3)(B) of such Code is amended by striking clause (iii).
(b) Definition of Qualified Veteran.--Paragraph (4) of section 143(l) of the Internal Revenue Code of 1986 is amended to read as follows:
``(4) QUALIFIED VETERAN.--For purposes of this subsection, the term `qualified veteran' means any veteran--
``(A) who served on active duty, and
``(B) who applied for the financing before the date 25 years after the last date on which such veteran left active service.''.
(c) Effective Date.--The amendments made by this section shall apply to bonds issued after December 31, 2007.
(As printed in the Congressional Record for the Senate on Apr 4, 2008.)