March 5, 2010, 12:00 am ET - Amendment SA 3416 proposed by Senator Baucus for Senator Lincoln to Amendment SA 3336.
March 5, 2010, 12:00 am ET - Amendment SA 3416 agreed to in Senate by Unanimous Consent.
Full Text of this Amendment
On page 268, between lines 11 and 12, insert the following:
SEC. __. GRANTS FOR ENERGY EFFICIENT APPLIANCES IN LIEU OF TAX CREDIT.
In the case of any taxable year which includes the last day of calendar year 2009 or calendar year 2010, a taxpayer who elects to waive the credit which would otherwise be determined with respect to the taxpayer under section 45M of the Internal Revenue Code of 1986 for such taxable year shall be treated as making a payment against the tax imposed under subtitle A of such Code for such taxable year in an amount equal to 85 percent of the amount of the credit which would otherwise be so determined.
Such payment shall be treated as made on the later of the due date of the return of such tax or the date on which such return is filed. Elections under this section may be made separately for 2009 and 2010, but once made shall be irrevocable.
(As printed in the Congressional Record for the Senate on Mar 4, 2010.)