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Full Text of this Amendment

SA 724. Mr. COBURN submitted an amendment intended to be proposed by him to the bill H.R. 1388, entitled ``The Edward M. Kennedy Serve America Act, an Act to reauthorize and reform the national service laws.''; which was ordered to lie on the table; as follows:

TITLE VII--MILLIONAIRE EXEMPTION


SEC. 701. EXEMPTION FOR MILLIONAIRES.
(a) In General.--Notwithstanding any other provision of this Act, no wealthy individual who participates in a program under this Act may receive stipend, living allowance, education award, or other compensation by virtue of such participation.
(b) Wealthy Individual.--In this section, the term ``wealthy individual'' means an individual who is from a family with a taxable annual income of more than $1,000,000.


(As printed in the Congressional Record for the Senate on Mar 26, 2009.)