S.Amdt. 2743

SA 2724. Mr. NELSON of Florida submitted an amendment intended to be
proposed by him to the concurrent resolution S. Con. Res. 95, setting
forth the congressional budget for the United States Government for
fiscal year 2005 and including the appropriate budgetary levels for
fiscal years 2006 through 2009; which was ordered to lie on the table;
as follows:

On page 3, line 9, increase the amount by $3,240,000,000.
On page 3, line 10, increase the amount by $324,000,000.
On page 3, line 11, increase the amount by $14,000,000.
On page 3, line 12, increase the amount by $4,000,000.
On page 3, line 17, increase the amount by $3,240,000,000.
On page 3, line 18, increase the amount by $324,000,000.
On page 3, line 19, increase the amount by $14,000,000.
On page 3, line 20, increase the amount by $4,000,000.
On page 4, line 20, increase the amount by $3,240,000,000.
On page 4, line 21, increase the amount by $324,000,000.
On page 4, line 22, increase the amount by $14,000,000.
On page 4, line 23, increase the amount by $4,000,000.
On page 5, line 3, decrease the amount by $3,240,000,000.
On page 5, line 4, decrease the amount by $3,564,000,000.
On page 5, line 5, decrease the amount by $3,578,000,000.
On page 5, line 6, decrease the amount by $3,582,000,000.
On page 5, line 7, decrease the amount by $3,582,000,000.
On page 5, line 11, decrease the amount by $3,240,000,000.
On page 5, line 12, decrease the amount by $3,564,000,000.
On page 5, line 13, decrease the amount by $3,578,000,000.
On page 5, line 14, decrease the amount by $3,582,000,000.
On page 5, line 15, decrease the amount by $3,582,000,000.
At the end of Title III, insert the following:

SEC.  . RESERVE FUND FOR VETERANS' MEDICAL CARE.

The Chairman of the Committee on the Budget of the Senate
shall revise the aggregates, functional totals, allocations
to the Committee on Appropriations of the Senate,
discretionary spending limits, and other appropriate levels
and limits in this resolution by up to $1,800,000,000 in
budget authority for fiscal year 2005, and by the amount of
outlays flowing therefrom in 2005 and subsequent years, for a
bill, joint resolution, motion, amendment, or conference
report that provides additional fiscal year 2005
discretionary appropriations, in excess of levels

[[Page S2565]]

provided in this resolution, for veterans' medical programs,
included in this resolution for the Department of Veterans
Affairs.
______

SA 2725. Mr. KENNEDY (for himself, Mr. Dodd, Mrs. Clinton, Mr.
Corzine, Ms. Stabenow, Mr. Lautenberg, Mr. Schumer, Mr. Reed, Ms.
Mikulski, Mr. Kohl, Mrs. Lincoln, Mr. Levin, Mr. Lieberman, and Mr.
Reid) submitted an amendment intended to be proposed by him to the
concurrent resolution S. Con. Res. 95, setting forth the congressional
budget for the United States Government for fiscal year 2005 and
including the appropriate budgetary levels for fiscal years 2006
through 2009; which was ordered to lie on the table; as follows:

On page 3, line 9, increase the amount by $2,352,000,000.
On page 3, line 10, increase the amount by $7,253,000,000.
On page 3, line 11, increase the amount by $196,000,000.
On page 3, line 17, increase the amount by $2,352,000,000.
On page 3, line 18, increase the amount by $7,253,000,000.
On page 3, line 19, increase the amount by $196,000,000.
On page 4, line 20, increase the amount by $2,352,000,000.
On page 4, line 21, increase the amount by $7,253,000,000.
On page 4, line 22, increase the amount by $196,000,000.
On page 5, line 3, decrease the amount by $2,352,000,000.
On page 5, line 4, decrease the amount by $9,606,000,000.
On page 5, line 5, decrease the amount by $9,802,000,000.
On page 5, line 6, decrease the amount by $9,802,000,000.
On page 5, line 7, decrease the amount by $9,802,000,000.
On page 5, line 11, decrease the amount by $2,352,000,000.
On page 5, line 12, decrease the amount by $9,606,000,000.
On page 5, line 13, decrease the amount by $9,802,000,000.
On page 5, line 14, decrease the amount by $9,802,000,000.
On page 5, line 15, decrease the amount by $9,802,000,000.
At the end of Title III, insert the following:

SEC. ___. RESERVE FUND FOR THE PELL GRANT PROGRAM.

The Chairman of the Committee on the Budget of the Senate
shall revise the aggregates, functional totals, allocations
to the Committee on Appropriations of the Senate,
discretionary spending limits, and other appropriate levels
and limits in this resolution by up to $4,900,000,000 in
budget authority for fiscal year 2005, and by the amount of
outlays flowing therefrom in 2005 and subsequent years, for a
bill, joint resolution, motion, amendment, or conference
report that provides additional fiscal year 2005
discretionary appropriations, in excess of levels provided in
this resolution, for the Pell Grant program.
______

SA 2726. Mr. BIDEN (for himself, Mr. Leahy, Mrs. Feinstein, Mr.
Schumer, Mr. Kennedy, Mr. Sarbanes, Mr. Rockefeller, Mr. Corzine, Ms.
Stabenow, Mr. Harkin, Mrs. Boxer, Mr. Durbin, Mr. Kohl, and Mr. Dodd)
submitted an amendment intended to be proposed by him to the concurrent
resolution S. Con. Res. 95, setting forth the congressional budget for
the United States Government for fiscal year 2005 and including the
appropriate budgetary levels for fiscal years 2006 through 2009; which
was ordered to lie on the table; as follows:

On page 3, line 9, increase the amount by $300,000,000.
On page 3, line 10, increase the amount by $572,000,000.
On page 3, line 11 , increase the amount by $470,000,000.
On page 3, line 12 , increase the amount by $580,000,000.
On page 3, line 13 , increase the amount by $78,000,000.
On page 3, line 17, increase the amount by $300,000,000.
On page 3, line 18, increase the amount by $572,000,000.
On page 3, line 19, increase the amount by $470,000,000.
On page 3, line 20, increase the amount by $580,000,000.
On page 3, line 21, increase the amount by $78,000,000.
On page 4, line 4, increase the amount by $1,000,000,000.
On page 4, line 12, increase the amount by $150,000,000.
On page 4, line 13, increase the amount by $286,000,000.
On page 4, line 14, increase the amount by $235,000,000.
On page 4, line 15, increase the amount by $290,000,000.
On page 4, line 16, increase the amount by $39,000,000.
On page 4, line 20, increase the amount by $150,000,000.
On page 4, line 21, increase the amount by $286,000,000.
On page 4, line 22, increase the amount by $235,000,000.
On page 4, line 23, increase the amount by $290,000,000.
On page 4, line 24, increase the amount by $39,000,000.
On page 5, line 3, decrease the amount by $150,000,000.
On page 5, line 4, decrease the amount by $436,000,000.
On page 5, line 5, decrease the amount by $671,000,000.
On page 5, line 6, decrease the amount by $961,000,000.
On page 5, line 7, decrease the amount by $1,000,000,000.
On page 5, line 11, decrease the amount by $150,000,000.
On page 5, line 12, decrease the amount by $436,000,000.
On page 5, line 13, decrease the amount by $671,000,000.
On page 5, line 14, decrease the amount by $961,000,000.
On page 5, line 15, decrease the amount by $1,000,000,000.
On page 20, line 17, increase the amount by $1,000,000,000.
On page 20, line 18, increase the amount by $150,000,000.
On page 20, line 22, increase the amount by $286,000,000.
On page 21, line 1, increase the amount by $235,000,000.
On page 21, line 5, increase the amount by $290,000,000.
On page 21, line 9, increase the amount by $39,000,000.
On page 39, line 18, increase the amount by $1,000,000,000.
On page 39, line 19, increase the amount by $150,000,000.
On page 40, line 2, increase the amount by $286,000,000.
______

SA 2727. Mr. SANTORUM (for himself, Mr. Conrad, and Mr. Bunning)
submitted an amendment intended to be proposed by him to the bill S.
1637, to amend the Internal Revenue Code of 1986 to comply with the
World Trade Organization rulings on the FSC/ETI benefit in a manner
that preserves jobs and production activities in the United States, to
reform and simplify the international taxation rules of the United
States, and for other purposes; which was ordered to lie on the table;
as follows:

On page 179, after line 25, insert the following:

SEC. __. SUSPENSION OF POLICYHOLDERS SURPLUS ACCOUNT
PROVISIONS.

(a) In General.--Section 815 (relating to distributions to
shareholders from pre-1984 policyholders surplus account) is
amended by adding at the end the following new subsection:
``(g) Application of Section.--This section shall not apply
to stock life insurance companies for taxable years beginning
after December 31, 2003, and beginning before January 1,
2006.''.
(b) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2003.
______

SA 2728. Mr. STEVENS (for himself, Mr. Inouye, and Mr. Warner)
submitted an amendment intended to be proposed by him to the concurrent
resolution S. Con. Res. 95, setting forth the congressional budget for
the United States Government for fiscal year 2005 and including the
appropriate budgetary levels for fiscal years 2006 through 2009; which
was ordered to lie on the table; as follows:

On page 30, strike line 21 and all that follows through
page 31, line 9, and insert the following:

SEC. 312. SUPPLEMENTAL FUNDING FOR IRAQ, AFGHANISTAN, HAITI
AND FOR THE GLOBAL WAR ON TERRORISM.

If the Committee on Appropriations of the Senate reports
legislation providing additional discretionary appropriations
in excess of the levels assumed in this resolution for
defense-related activities in Iraq, Afghanistan, Haiti and
for the global war on terrorism for fiscal year 2005, the
chairman of the Committee on the Budget shall revise the
allocations (and all other appropriate levels and aggregates
set out in this resolution) for that committee for such
purpose but not to exceed $50,000,000,000 in new budget
authority for fiscal year 2005 and the outlays that flow
therefrom.
______

SA 2729. Mr. LEVIN (for himself and Mr. Jeffords) submitted an
amendment intended to be proposed by him to the concurrent resolution
S. Con. Res. 95, setting forth the congressional budget for the United
States Government for fiscal year 2005 and including the appropriate
budgetary levels for fiscal year 2006 through 2009; which was ordered
to lie on the table; as follows:

On page 54, after line 22, insert the following:

SEC. ___. SENSE OF THE SENATE TO MAKE MORE EFFICIENT,
FISCALLY RESPONSIBLE APPROPRIATIONS AND REVENUE
DECISIONS.

(a) Findings.--The Senate finds the following:
(1) Federal programs and policies directly influence local
growth patterns through the location of Federal facilities,
spending on

[[Page S2566]]

public infrastructure, tax incentives, and Federal
regulations.
(2) This Federal influence on local land use decisions
results in both positive and negative effects.
(3) Unplanned and random growth results in increased
commuting times, traffic congestion, impaired air quality,
loss of open space and environmentally sensitive areas,
public health problems, and poor accessibility to critical
services such as schools and hospitals.
(4) Investing in existing infrastructure is a fiscally
responsible use of resources. When not properly planned,
local development decisions may actually burden the Federal
budget by requiring the construction of new water, sewer, and
transportation infrastructure in low-density areas, rather
than funding the maintenance of existing infrastructure.
(5) Planned growth, important in sustaining community
development and a healthy economy, has positive effects,
reflected, for example, in increased home ownership, higher
consumer savings, lower energy consumption, and strong
business advantages.
(b) Sense of the Senate.--It is the sense of the Senate
that the budgetary levels in this resolution assume that in
making appropriations and revenue decisions, the Senate
should--
(1) support Federal policies that encourage growth patterns
that make efficient use of available housing, transportation,
and infrastructure resources; and
(2) address the unintended consequences of urban and
suburban sprawl resulting from specific Federal programs and
policies through the use of additional resources and the
allocation of budgetary authority to provide incentives for
sustainable growth.
______

SA 2730. Mr. LEVIN submitted an amendment intended to be proposed by
him to the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; which was ordered to lie on the table; as follows:

On page 3, line 9, increase the amount by $54,000,000.
On page 3, line 10, increase the amount by $250,000,000.
On page 3, line 11, increase the amount by $54,000,000.
On page 3, line 17, increase the amount by $54,000,000.
On page 3, line 18, increase the amount by $250,000,000.
On page 3, line 19, increase the amount by $54,000,000.
On page 4, line 4, increase the amount by $179,000,000.
On page 4, line 12, increase the amount by $27,000,000.
On page 4, line 13, increase the amount by $125,000,000.
On page 4, line 14, increase the amount by $27,000,000.
On page 4, line 20, increase the amount by $27,000,000.
On page 4, line 21, increase the amount by $125,000,000.
On page 4, line 22, increase the amount by $27,000,000.
On page 5, line 3, decrease the amount by $27,000,000.
On page 5, line 4, decrease the amount by $152,000,000.
On page 5, line 5, decrease the amount by $179,000,000.
On page 5, line 6, decrease the amount by $179,000,000.
On page 5, line 7, decrease the amount by $179,000,000.
On page 5, line 11, decrease the amount by $27,000,000.
On page 5, line 12, decrease the amount by $152,000,000.
On page 5, line 13, decrease the amount by $179,000,000.
On page 5, line 14, decrease the amount by $179,000,000.
On page 5, line 15, decrease the amount by $179,000,000.
On page 13, line 2, increase the amount by $179,000,000.
On page 13, line 3, increase the amount by $27,000,000.
On page 13, line 7, increase the amount by $125,000,000.
On page 13, line 11, increase the amount by $27,000,000.
On page 39, line 18, increase the amount by $179,000,000.
On page 39, line 19, increase the amount by $27,000,000.
On page 40, line 2, increase the amount by $125,000,000.
______

SA 2731. Mr. GRAHAM of South Carolina (for himself, Mr. Daschle, Mr.
Bunning, Mr. Leahy, Mrs. Clinton, Mr. DeWine, Mr. Chambliss, Mr. Allen,
Mrs. Murray, Mr. Kennedy, Mrs. Lincoln, Mr. Dayton, Ms. Murkowski, Ms.
Mikulski. Mr. Feingold, and Mr. Miller) proposed an amendment to the
concurrent resolution S. Con. Res. 95, setting forth the congressional
budget for the United States Government for fiscal year 2005 and
including the appropriate budgetary levels for fiscal years 2006
through 2009; as follows:

On page 28, after line 7, insert the following:

SEC. 304. RESERVE FUND FOR GUARD AND RESERVE HEALTH CARE.

If the Committee on Armed Services or the Committee on
Appropriations reports a bill or joint resolution, or an
amendment thereto is offered or a conference report thereon
is submitted that expands access to health care for members
of the reserve component, the Chairman of the Committee on
the Budget may revise allocations of new budget authority and
outlays, the revenue aggregates, other appropriate
aggregates, and the discretionary spending limits to reflect
such legislation, providing that such legislation--
(1) would not increase the deficit for fiscal year 2005 and
for the period of fiscal years 2005 through 2009, or would
offset such deficit increases through reduction of
unobligated balances from Iraqi reconstruction;
(2) does not exceed $5,600,000,000 for the period of fiscal
years 2005 through 2009.

SEC. 305. RESERVE FUND FOR MONGOMERY GI BILL BENEFITS.

If the Committee on Armed Services or the Committee on
Appropriations reports a bill or joint resolution, or an
amendment thereto is offered or a conference report thereon
is submitted, that increases benefit levels under the
Montgomery GI Bill for members of the Selected Reserves, the
Chairman of the Committee on the Budget may revise
allocations of new budget authority and outlays, the revenue
aggregates, other appropriate aggregates, and the
discretionary spending limits to reflect such legislation,
providing that such legislation--
(1) would not increase the deficit for fiscal year 2005 and
for the period of fiscal years 2005 through 2009;
(2) does not exceed $1,200,000,000 for the period of fiscal
years 2005 through 2009.
______

SA 2732. Mrs. HUTCHISON (for herself, Ms. Landrieu, Mr. Breaux, and
Mr. Lott) submitted an amendment intended to be proposed by her to the
concurrent resolution S. Con. Res. 95, setting forth the congressional
budget for the United States Government for fiscal year 2005 and
including the appropriate budgetary levels for fiscal years 2006
through 2009; which was ordered to lie on the table; as follows:

On page 11, line 9, increase the amount by $200,000,000.
On page 11, line 10, increase the amount by $200,000,000.
On page 23, line 5, increase the amount by $200,000,000.
On page 23, line 6, increase the amount by $200,000,000.
______

SA 2733. Mr. SESSIONS (for himself and Mr. Cornyn) submitted an
amendment intended to be proposed by him to the concurrent resolution
S. Con. Res. 95, setting forth the congressional budget for the United
States Government for fiscal year 2005 and including the appropriate
budgetary levels for fiscal years 2006 through 2009; which was ordered
to lie on the table; as follows:

At the appropriate place insert the following:
On page 21, line 13, decrease the amount $600,000,000.
On page 21, line 14, decrease the amount $600,000,000.
On page 9, line 17, increase the amount $600,000,000.
On page 9, line 18, increase the amount $600,000,000.
______

SA 2734. Mr. Reid (for himself, Mrs. Lincoln, Mr. Schumer, Ms.
Cantwell, Mr. Dayton, Mr. Kerry, Mr. Rockefeller, Mr. Daschle, Ms.
Landrieu, Mr. Corzine, Mr. Nelson of Florida, Mr. Biden, Mr. Jeffords,
Mr. Graham of Florida, Mrs. Murray, Mr. Bingaman, Mr. Akaka, and Mr.
Johnson) submitted an amendment intended to be proposed by him to the
concurrent resolution S. Con. Res. 95, setting forth the congressional
budget for the United States Government for fiscal year 2005 and
including the appropriate budgetary levels for fiscal years 2006
through 2009; which was ordered to lie on the table; as follows:

On page 3, line 9, increase the amount by $2,427,000,000.
On page 3, line 10, increase the amount by $2,416,000,000.
On page 3, line 11, increase the amount by $2,334,000,000.
On page 3, line 12, increase the amount by $2,218,000,000.
On page 3, line 13, increase the amount by $2,045,000,000.
On page 3, line 17, increase the amount by $2,427,000,000.
On page 3, line 18, increase the amount by $2,416,000,000.
On page 3, line 19, increase the amount by $2,334,000,000.
On page 3, line 20, increase the amount by $2,218,000,000.
On page 3, line 21, increase the amount by $2,045,000,000.
On page 4, line 20, increase the amount by $2,427,000,000.
On page 4, line 21, increase the amount by $2,416,000,000.

[[Page S2567]]

On page 4, line 22, increase the amount by $2,334,000,000.
On page 4, line 23, increase the amount by $2,218,000,000.
On page 4, line 24, increase the amount by $2,045,000,000.
On page 5, line 3, decrease the amount by $2,427,000,000.
On page 5, line 4, decrease the amount by $4,843,000,000.
On page 5, line 5, decrease the amount by $7,177,000,000.
On page 5, line 6, decrease the amount by $9,395,000,000.
On page 5, line 7, decrease the amount by $11,440,000,000.
On page 5, line 11, decrease the amount by $2,427,000,000.
On page 5, line 12, decrease the amount by $4,843,000,000.
On page 5, line 13, decrease the amount by $7,177,000,000.
On page 5, line 14, decrease the amount by $9,395,000,000.
On page 5, line 15, decrease the amount by $11,440,000,000.
At the end of title III insert the following:

SEC.  . RESERVE FUND FOR CONCURRENT RECEIPT.

If the Committee on Armed Services or the Committee on
Appropriations reports a bill or joint resolution, or an
amendment thereto is offered or a conference report thereon
is submitted, that provides for an extension of eligibility
for concurrent receipt of military retirement pay and
veterans' disability compensation under that section to
military retirees with service-connected disabilities rated
between 40 percent and zero percent, the Chairman of the
Committee on the Budget shall revise the aggregates,
functional totals, allocations, discretionary caps, and other
appropriate levels and limits in this resolution by up to
$11,440,000,000 in budget authority and $11,440,000,000 in
outlays over the total of fiscal years 2005 through 2009.
______

SA 2735. Mr. BYRD (for himself, Mr. Conrad, Mr. Baucus, and Mr.
Harkin) proposed an amendment to the concurrent resolution S. Con. Res.
95, setting forth the congressional budget for the United States
Government for fiscal year 2005 and including the appropriate budgetary
levels for fiscal years 2006 through 2009; as follows:

Strike Section 201(a) of the committee-reported resolution,
on page 24 line 21 through page 25 line 3.
______

SA 2736. Mr. DORGAN submitted an amendment intended to be proposed by
him to the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; which was ordered to lie on the table; as follows:

On page 4, line 4, decrease the amount by $3,332,000,000.
On page 4, line 5, increase the amount by $658,000,000.
On page 4, line 6, increase the amount by $742,000,000.
On page 4, line 7, increase the amount by $692,000,000.
On page 4, line 8, increase the amount by $727,000,000.
On page 4, line 12, decrease the amount by $713,000,000.
On page 4, line 13, decrease the amount by $964,000,000.
On page 4, line 14, decrease the amount by $176,000,000.
On page 4, line 15, increase the amount by $374,000,000.
On page 4, 1ine 16, increase the amount by $607,000,000.
On page 4, line 20, increase the amount by $713,000,000.
On page 4, line 21, increase the amount by $964,000,000.
On page 4, line 22, increase the amount by $176,000,000,
On page 4, 1ine 23, decrease the amount by $374,000,000.
On page 4, line 24, decrease the amount by $607,000,000.
On page 5, line 3, decrease the amount by $713,000,000.
On page 5, line 4, decrease the amount by $1,677,000,000.
On page 5, line 5, decrease the amount by $1,853,000,000.
On page 5, line 6, decrease the amount by $1,479,000,000.
On page 5, line 7, decrease the amount by $872,000,000.
On page 5, line 11, decrease the amount by $713,000,000.
On page 5, line 12, decrease the amount by $1,677,000,000.
On page 5, line 13, decrease the amount by $1,853,000,000.
On page 5, line 14, decrease the amount by $1,479,000,000.
On page 5, line 15, decrease the amount by $872,000,000.
On page 8, line 21, decrease the amount by $3,332,000,000.
On page 8, line 22, decrease the amount by $713,000,000.
On page 9, line 1, decrease the amount by $1,260,000,000.
On page 9, line 5, decrease the amount by $773,000,000.
On page 9, line 9, decrease the amount by $300,000,000.
On page 9, line 13, decrease the amount by $104,000,000.
On page 10, line 17, increase the amount by $658,000,000.
On page 10, line 18, increase the amount by $296,000,000.
On page 10, line 21, increase the amount by $742,000,000.
On page 10, line 22, increase the amount by $597,000,000.
On page 10, line 25, increase the amount by $692,000,000.
On page 11, line 1, increase the amount by $674,000,000.
On page 11, line 4, increase the amount by $727,000,000.
On page 11, line 5, increase the amount by $711,000,000.
At the end of Section 303, insert:

SEC.   . RESERVE FUND FOR HYDROGEN FUEL CELL RESEARCH AND
DEVELOPMENT.

The Chairman of the Committee on the Budget of the Senate
shall revise the aggregates, functional totals, allocations
to the Committee on Appropriations of the Senate,
discretionary spending limits, and other appropriate levels
and limits in this resolution by up to $513,000,000 in budget
authority for fiscal year 2005, and by the amount of outlays
flowing therefrom in 2005 and subsequent years, for a bill,
joint resolution, motion, amendment, or conference report
that provides additional fiscal year 2005 discretionary
appropriations, in excess of levels provided in this
resolution, for Hydrogen Fuel Cell Research and Development,
included in this resolution for the Department of Energy.
On page 40 line 1, increase the amount by $658,000,000.
On page 40 line 2, increase the amount by $296,000,000.
______

SA 2737. Ms. CANTWELL (for herself, Mr. Kennedy, and Mr. Sarbanes)
submitted an amendment intended to be proposed by her to the concurrent
resolution S. Con. Res. 95, setting forth the congressional budget for
the United States Government for fiscal year 2005 and including the
appropriate budgetary levels for fiscal years 2006 through 2009; which
was ordered to lie on the table; as follows:

On page 33, after line 25, insert the following:

SEC. 314. SPECIAL RULE FOR FISCAL YEAR 2004.

If additional funding to extend expired unemployment
insurance benefits for fiscal year 2004 is provided in a
bill, joint resolution, amendment, motion, or conference
report, and its cost is fully offset in the year provided and
would not increase the on-budget deficit, then such funding
shall not be counted for purposes of Senate enforcement of
the Congressional Budget Act of 1974 and this resolution.
______

SA 2738. Ms. CANTWELL (for herself, Mr. Kennedy, and Mr. Sarbanes)
submitted an amendment intended to be proposed by her to the concurrent
resolution S. Con. Res. 95, setting forth the congressional budget for
the United States Government for fiscal year 2005 and including the
appropriate budgetary levels for fiscal years 2006 through 2009; which
was ordered to lie on the table; as follows:

On page 54, after line 22, insert the following:

SEC. __. SENSE OF THE SENATE ON TEMPORARY EMERGENCY
UNEMPLOYMENT COMPENSATION.

(a) Findings.--The Senate finds the following:
(1) There are currently 8,200,000 unemployed Americans.
(2) An additional 1,700,000 discouraged workers have given
up looking for work.
(3) Another 4,700,000 individuals are working part time,
but want a full-time job and cannot find one.
(4) For every job opening, there are 3 laid-off workers
fighting for that job.
(5) Since January 2001, the economy has lost 2,200,000
jobs.
(6) Reinstating the Federal Temporary Unemployment
Insurance Compensation program would reinstate benefits for
90,000 laid-off workers each week who began exhausting State
benefits when that program ended.
(7) For the first 6 months of 2004, reinstating the
Temporary Unemployment Insurance Compensation program would
benefit 2,000,000 laid-off workers.
(b) Sense of the Senate.--It is the sense of the Senate
that the levels in this concurrent resolution assume that
Congress and the President will enact legislation reinstating
the program established by the Temporary Emergency
Unemployment Compensation Act of 2002 (Public Law 107-147)
through June 30, 2004.
______

SA 2739. Mr. SPECTER (for himself, Mr. Cochran, Mr. Harkin, and Mr.
Byrd) submitted an amendment intended to be proposed by him to the
concurrent resolution S. Con. Res. 95, setting forth the congressional
budget for the United States Government for fiscal year 2005 and
including the appropriate budgetary levels for fiscal years 2006
through 2009; which was ordered to lie on the table; as follows:

Strike section 404.

[[Page S2568]]

______

SA 2740. Mr. SPECTER (for himself and Mr. Harkin) submitted an
amendment intended to be proposed by him to the concurrent resolution
S. Con. Res. 95, setting forth the congressional budget for the United
States Government for fiscal year 2005 and including the appropriate
budgetary levels for fiscal years 2006 through 2009; which was ordered
to lie on the table; as follows:

Strike subsection 404(a).
______

SA 2741. Mr. SPECTER submitted an amendment intended to be proposed
by him to the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; which was ordered to lie on the table; as follows:

On page 16, line 12, increase the amount by $2,000,000,000.
On page 16, line 13, increase the amount by $2,000,000,000.
On page 23, line 5, decrease the amount by $2,000,000,000.
On page 23, line 6, decrease the amount by $2,000,000,000.
______

SA 2742. Mr. WARNER (for himself, Mr. Stevens, Mr. McCain, Mr.
Inhofe, Mr. Roberts, Ms. Collins, Mr. Chambliss, Mr. Graham of South
Carolina, Mr. Talent, Mr. Craig, and Mr. Allen) proposed an amendment
to the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; as follows:

On page 4, line 4, increase the amount by $6,997,000,000.
On page 4, line 5, increase the amount by $262,000,000.
On page 4, line 6, increase the amount by $358,000,000.
On page 4, line 7, increase the amount by $405,000,000.
On page 4, line 8, increase the amount by $432,000,000.
On page 4, line 12, increase the amount by $5,506,000,000.
On page 4, line 13, increase the amount by $1,855,000,000.
On page 4, line 14, increase the amount by $799,000,000.
On page 4, line 15, increase the amount by $550,000,000.
On page 4, line 16, increase the amount by $480,000,000.
On page 4, line 20, decrease the amount by $5,506,000,000.
On page 4, line 21, decrease the amount by $1,855,000,000.
On page 4, line 22, decrease the amount by $799,000,000.
On page 4, line 23, decrease the amount by $550,000,000.
On page 4, line 24, decrease the amount by $480,000,000.
On page 5, line 3, increase the amount by $5,506,000,000.
On page 5, line 4, increase the amount by $7,362,000,000.
On page 5, line 5, increase the amount by $8,161,000,000.
On page 5, line 6, increase the amount by $8,711,000,000.
On page 5, line 7, increase the amount by $9,191,000,000.
On page 5, line 11, increase the amount by $5,506,000,000.
On page 5, line 12, increase the amount by $7,362,000,000.
On page 5, line 13, increase the amount by $8,161,000,000.
On page 5, line 14, increase the amount by $8,711,000,000.
On page 5, line 15, increase the amount by $9,191,000,000.
On page 7, line 25, increase the amount by $6,900,000,000.
On page 8, line 1, increase the amount by $5,409,000,000.
On page 8, line 5, increase the amount by $1,594,000,000.
On page 8, line 9, increase the amount by $442,000,000.
On page 8, line 13, increase the amount by $145,000,000.
On page 8, line 17, increase the amount by $48,000,000.
On page 22, line 9, increase the amount by $97,000,000.
On page 22, line 10, increase the amount by $97,000,000.
On page 22, line 13, increase the amount by $262,000,000.
On page 22, line 14, increase the amount by $262,000,000.
On page 22, line 17, increase the amount by $358,000,000.
On page 22, line 18, increase the amount by $358,000,000.
On page 22, line 21, increase the amount by $405,000,000.
On page 22, line 22, increase the amount by $405,000,000.
On page 22, line 25, increase the amount by $432,000,000.
On page 23, line 1, increase the amount by $432,000,000.
On page 39, line 18, increase the amount by $6,900,000,000.
On page 39, line 19, increase the amount by $5,409,000,000.
On page 40, line 2, increase the amount by $1,594,000,000.
______

SA 2743. Mr. ROCKEFELLER (for himself, Mr. Wyden, Mr. Kennedy, Mrs.
Murray, and Mr. Schumer) submitted an amendment intended to be proposed
by him to the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; which was ordered to lie on the table; as follows:

On page 28, after line 7, insert the following:

SEC. __. RESERVE FUND TO PROTECT STATES.

If the Committee on Finance of the Senate reports a bill or
joint resolution that extends increased Federal Medical
Assistance Percentage (FMAP) payments to States and that
legislation would not increase the deficit for fiscal year
2005 or for the period of fiscal years 2005 through 2009, the
budgetary effects of that legislation shall not count for
purposes of the Congressional Budget Act or provisions of the
concurrent resolutions on the budget for fiscal year 2004 or
2005. If an amendment, motion, or conference report is
offered that extends increased Federal Medical Assistance
Percentage payments to States and would not increase the
deficit for fiscal year 2005 or for the period of fiscal
years 2005 through 2009, that amendment, motion, or
conference report shall not count for those purposes.
______

SA 2744. Mr. NELSON of Florida submitted an amendment intended to be
proposed by him to the concurrent resolution S. Con. Res. 95, setting
forth the congressional budget for the United States Government for
fiscal year 2005 and including the appropriate budgetary levels for
fiscal years 2006 through 2009; which was ordered to lie on the table;
as follows:

On page 3, line 9, increase the amount by $2,000,000.
On page 3, line 10, increase the amount by $38,000,000.
On page 3, line 11, increase the amount by $16,000,000.
On page 3, line 12, increase the amount by $3,000,000.
On page 3, line 17 , increase the amount by $2,000,000.
On page 3, line 18, increase the amount by $38,000,000.
On page 3, line 19, increase the amount by $16,000,000.
On page 3, line 20, increase the amount by $3,000,000.
On page 4, line 20, increase the amount by $2,000,000.
On page 4, line 21, increase the amount by $38,000,000.
On page 4, line 22, increase the amount by $16,000,000.
On page 4, line 23, increase the amount by $3,000,000.
On page 5, line 3, decrease the amount by $2,000,000.
On page 5, line 4, decrease the amount by $40,000,000.
On page 5, line 5, decrease the amount by $56,000,000.
On page 5, line 6, decrease the amount by $59,000,000.
On page 5, line 7, decrease the amount by $59,000,000.
On page 5, line 11, decrease the amount by $2,000,000.
On page 5, line 12, decrease the amount by $40,000,000.
On page 5, line 13, decrease the amount by $56,000,000.
On page 5, line 14, decrease the amount by $59,000,000.
On page 5, line 15, decrease the amount by $59,000,000.
At the end of Title III, insert the following:

SEC.   . RESERVE FUND FOR THE LOCAL FAMILY INFORMATION
CENTERS PROGRAM.

The Chairman of the Committee on the Budget of the Senate
shall revise the aggregates, functional totals, allocations
to the Committee on Appropriations of the Senate,
discretionary spending limits, and other appropriate levels
and limits in this resolution by up to $58,000,000 in budget
authority for fiscal year 2005, and by the amount of outlays
flowing therefrom in 2005 and subsequent years, for a bill,
joint resolution, motion, amendment, or conference report
that provides additional fiscal year 2005 discretionary
appropriations, in excess of levels provided in this
resolution, for the Local Family Information Centers program
in the Department of Education.
______

SA 2745. Mr. NELSON of Florida (for himself, Mr. Corzine, Ms.
Mikulski, Mr. Schumer, and Mr. Nelson of Nebraska) submitted an
amendment intended to be proposed by him to the concurrent resolution
S. Con. Res. 95, setting forth the congressional budget for the United
States Government for fiscal year 2005 and including the appropriate
budgetary levels for fiscal years 2006 through 2009; as follows:

On page 3, line 9, increase the amount by $1,620,000,000.

[[Page S2569]]

On page 3, line 10, increase the amount by $162,000,000.
On page 3, line 11, increase the amount by $7,000,000.
On page 3, line 12, increase the amount by $2,000,000.
On page 3, line 17, increase the amount by $1,620,000,000.
On page 3, line 18, increase the amount by $162,000,000.
On page 3, line 19, increase the amount by $7,000,000.
On page 3, line 20, increase the amount by $2,000,000.
On page 4, line 20, increase the amount by $1,620,000,000.
On page 4, line 21, increase the amount by $162,000,000.
On page 4, line 22, increase the amount by $7,000,000.
On page 4, line 23, increase the amount, by $2,000,000.
On page 5, line 3, decrease the amount by $1,620,000,000.
On page 5, line 4, decrease the amount by $1,782,000,000.
On page 5, line 5, decrease the amount by $1,789,000,000.
On page 5, line 6, decrease the amount by $1,791,000,000.
On page 5, line 7, decrease the amount by $1,791,000,000.
On page 5, line 11, decrease the amount by $1,620,000,000.
On page 5, line 12, decrease the amount by $1,782,000,000.
On page 5, line 13, decrease the amount by $1,789,000,000.
On page 5, line 14, decrease the amount by $1,791,000,000.
On page 5, line 15, decrease the amount by $1,791,000,000.
At the end of Title III, insert the following:

SEC.  . RESERVE FUND FOR VETERANS' MEDICAL CARE.

The Chairman of the Committee on the Budget of the Senate
shall revise the aggregates, functional totals, allocations
to the Committee on Appropriations of the Senate,
discretionary spending limits, and other appropriate levels
and limits in this resolution by up to $1,800,000,000 in
budget authority for fiscal year 2005, and by the amount of
outlays flowing therefrom in 2005 and subsequent years, for a
bill, joint resolution, motion, amendment, or conference
report that provides additional fiscal year 2005
discretionary appropriations, in excess of levels provided in
this resolution, for veterans' medical programs, included in
this resolution for the Department of Veterans Affairs.
______

SA 2746. Mr. NELSON of Florida submitted an amendment intended to be
proposed by him to the concurrent resolution S. Con. Res. 95, setting
forth the congressional budget for the United States Government for
fiscal year 2005 and including the appropriate budgetary levels for
fiscal years 2006 through 2009; which was ordered to lie on the table;
as follows:

On page 3, line 9, increase the amount by $2,000,000.
On page 3, line 10, increase the amount by $7,000,000.
On page 3, line 11, increase the amount by $13,000,000.
On page 3, line 12, increase the amount by $15,000,000.
On page 3, line 13, increase the amount by $4,000,000.
On page 3, line 17, increase the amount by $2,000,000.
On page 3, line 18, increase the amount by $7,000,000.
On page 3, line 19, increase the amount by $13,000,000.
On page 3, line 20, increase the amount by $15,000,000.
On page 3, line 21, increase the amount by $4,000,000.
On page 4, line 20, increase the amount by $2,000,000.
On page 4, line 21, increase the amount by $7,000,000.
On page 4, line 22, increase the amount by $13,000,000.
On page 4, line 23, increase the amount by $15,000,000.
On page 4, line 24, increase the amount by $4,000,000.
On page 5, line 3, decrease the amount by $2,000,000.
On page 5, line 4, decrease the amount by $9,000,000.
On page 5, line 5, decrease the amount by $22,000,000.
On page 5, line 6, decrease the amount by $37,000,000.
On page 5, line 7, decrease the amount by $41,000,000.
On page 5, line 11, decrease the amount by $2,000,000.
On page 5, line 12, decrease the amount by $9,000,000.
On page 5, line 13, decrease the amount by $22,000,000.
On page 5, line 14, decrease the amount by $37,000,000.
On page 5, line 15, decrease the amount by $41,000,000.
At the end of Title III, insert the following:

SEC.   . RESERVE FUND FOR THE DEPARTMENT OF DEFENSE
COOPERATIVE THREAT REDUCTION PROGRAMS.

The Chairman of the Committee on the Budget of the Senate
shall revise the aggregates, functional totals, allocations
to the Committee on Appropriations of the Senate,
discretionary spending limits, and other appropriate levels
and limits in this resolution by up to $41,000,000 in budget
authority for fiscal year 2005, and by the amount of outlays
flowing therefrom in 2005 and subsequent years, for a bill,
joint resolution, motion, amendment, or conference report
that provides additional fiscal year 2005 discretionary
appropriations, in excess of levels provided in this
resolution, for the Cooperative Threat Reduction Program in
the Department of Defense.
______

SA 2747. Mr. NELSON of Florida submitted an amendment intended to be
proposed by him to the concurrent resolution S. Con. Res. 95, setting
forth the congressional budget for the United States Government for
fiscal year 2005 and including the appropriate budgetary levels for
fiscal years 2006 through 2009; which was ordered to lie on the table;
as follows:

On page 3, line 9, increase the amount by $382,000,000.
On page 3, line 10, increase the amount by $196,000,000.
On page 3, line 11, increase the amount by $38,000,000.
On page 3, line 12, increase the amount by $9,000,000.
On page 3, line 13, increase the amount by $3,000,000.
On page 3, line 17, increase the amount by $382,000,000.
On page 3, line 18, increase the amount by $196,000,000.
On page 3, line 19, increase the amount by $38,000,000.
On page 3, line 20, increase the amount by $9,000,000.
On page 3, line 21, increase the amount by $3,000,000.
On page 4, line 20, increase the amount by $382,000,000.
On page 4, line 21, increase the amount by $196,000,000.
On page 4, line 22, increase the amount by $38,000,000.
On page 4, line 23, increase the amount by $9,000,000.
On page 4, line 24, increase the amount by $3,000,000.
On page 5, line 3, decrease the amount by $382,000,000.
On page 5, line 4, decrease the amount by $578,000,000.
On page 5, line 5, decrease the amount by $616,000,000.
On page 5, line 6, decrease the amount by $625,500,000.
On page 5, line 7, decrease the amount by $628,000,000.
On page 5, line 11, decrease the amount by $382,000,000.
On page 5, line 12, decrease the amount by $578,000,000.
On page 5, line 13, decrease the amount by $616,000,000.
On page 5, line 14, decrease the amount by $625,500,000.
On page 5, line 15, decrease the amount by $628,000,000.
At the end of Title III, insert the following:

SEC.   . RESERVE FUND FOR THE NATIONAL AERONAUTICS AND SPACE
ADMINISTRATION.

The Chairman of the Committee on the Budget of the Senate
shall revise the aggregates, functional totals, allocations
to the Committee on Appropriations of the Senate,
discretionary spending limits, and other appropriate levels
and limits in this resolution by up to $631,000,000 in budget
authority for fiscal year 2005, and by the amount of outlays
flowing therefrom in 2005 and subsequent years, for a bill,
joint resolution, motion, amendment, or conference report
that provides additional fiscal year 2005 discretionary
appropriations, in excess of levels provided in this
resolution, for the National Aeronautics and Space
Administration.
______

SA 2748. Mr. FEINGOLD (for himself, Mr. Chafee, Mr. Baucus, Ms.
Cantwell, Mr. Carper, and Mr. Graham of Florida) proposed an amendment
to the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; as follows:

On page 46, between lines 2 and 3, insert the following:

SEC. 408. PAY-AS-YOU-GO POINT OF ORDER IN THE SENATE.

(a) Point of Order.--
(1) In general.--It shall not be in order in the Senate to
consider any direct spending or revenue legislation that
would increase the on-budget deficit or cause an on-budget
deficit for any one of the three applicable time periods as
measured in paragraphs (5) and (6).
(2) Applicable time periods.--For purposes of this
subsection, the term ``applicable time period'' means any 1
of the 3 following periods:
(A) The first year covered by the most recently adopted
concurrent resolution on the budget.
(B) The period of the first 5 fiscal years covered by the
most recently adopted concurrent resolution on the budget.
(C) The period of the 5 fiscal years following the first 5
fiscal years covered in the most recently adopted concurrent
resolution on the budget.
(3) Direct-spending legislation.--For purposes of this
subsection and except as

[[Page S2570]]

provided in paragraph (4), the term ``direct-spending
legislation'' means any bill, joint resolution, amendment,
motion, or conference report that affects direct spending as
that term is defined by, and interpreted for purposes of, the
Balanced Budget and Emergency Deficit Control Act of 1985.
(4) Exclusion.--For purposes of this subsection, the terms
``direct-spending legislation'' and ``revenue legislation''
do not include--
(A) any concurrent resolution on the budget; or
(B) any provision of legislation that affects the full
funding of, and continuation of, the deposit insurance
guarantee commitment in effect on the date of enactment of
the Budget Enforcement Act of 1990.
(5) Baseline.--Estimates prepared pursuant to this section
shall--
(A) use the baseline surplus or deficit used for the most
recently adopted concurrent resolution on the budget; and
(B) be calculated under the requirements of subsections (b)
through (d) of section 257 of the Balanced Budget and
Emergency Deficit Control Act of 1985 for fiscal years beyond
those covered by that concurrent resolution on the budget.
(6) Prior surplus.--If direct spending or revenue
legislation increases the on-budget deficit or causes an on-
budget deficit when taken individually, it must also increase
the on-budget deficit or cause an on-budget deficit when
taken together with all direct spending and revenue
legislation enacted since the beginning of the calendar year
not accounted for in the baseline under paragraph (5)(A),
except that direct spending or revenue effects resulting in
net deficit reduction enacted pursuant to reconciliation
instructions since the beginning of that same calendar year
shall not be available.
(b) Waiver.--This section may be waived or suspended in the
Senate only by the affirmative vote of three-fifths of the
Members, duly chosen and sworn.
(c) Appeals.--Appeals in the Senate from the decisions of
the Chair relating to any provision of this section shall be
limited to 1 hour, to be equally divided between, and
controlled by, the appellant and the manager of the bill or
joint resolution, as the case may be. An affirmative vote of
three-fifths of the Members of the Senate, duly chosen and
sworn, shall be required to sustain an appeal of the ruling
of the Chair on a point of order raised under this section.
(d) Determination of Budget Levels.--For purposes of this
section, the levels of new budget authority, outlays, and
revenues for a fiscal year shall be determined on the basis
of estimates made by the Committee on the Budget of the
Senate.
(e) Sunset.--This section shall expire on September 30,
2009.
______

SA 2749. Mr. GRAHAM of Florida (for himself and Mrs. Clinton)
submitted an amendment intended to be proposed by him to the concurrent
resolution S. Con. Res. 95, setting forth the congressional budget for
the United States Government for fiscal year 2005 and including the
appropriate budgetary levels for fiscal years 2006 through 2009; which
was ordered to lie on the table; as follows:

On page 3, line 9, increase the amount by 3,087,000,000.
On page 3, line 10, increase the amount by 5,408,000,000.
On page 3, line 11, increase the amount by 7,415,000,000.
On page 3, line 12, increase the amount by 9,901,000,000.
On page 3, line 13, increase the amount by 18,082,000,000.
On page 3, line 17, increase the amount by 3,087,000,000.
On page 3, line 18, increase the amount by 5,408,000,000.
On page 3, line 19, increase the amount by 7,415,000,000.
On page 3, line 20, increase the amount by 9,901,000,000.
On page 3, line 21, increase the amount by 18,082,000,000.
On page 4, line 20, increase the amount by 3,087,000,000.
On page 4, line 21, increase the amount by 5,408,000,000.
On page 4, line 22, increase the amount by 7,415,000,000.
On page 4, line 23, increase the amount by 9,901,000,000.
On page 4, line 24, increase the amount by 18,082,000,000.
On page 5, line 3, decrease the amount by 3,087,000,000.
On page 5, line 4, decrease the amount by 8,495,000,000.
On page 5, line 5, decrease the amount by 15,910,000,000.
On page 5, line 6, decrease the amount by 25,811,000,000.
On page 5, line 7, decrease the amount by 43,893,000,000.
On page 5, line 11, decrease the amount by 3,087,000,000.
On page 5, line 12, decrease the amount by 8,495,000,000.
On page 5, line 13, decrease the amount by 15,910,000,000.
On page 5, line 14, decrease the amount by 25,811,000,000.
On page 5, line 15, decrease the amount by 43,893,000,000.
At the end of title III, insert the following:

SEC.   . RESERVE FUND FOR IMPROVEMENTS TO PELL GRANT PROGRAM
TO ASSIST NONTRADITIONAL STUDENTS.

The Chairman of the Committee on Budget of the Senate shall
revise aggregates, function totals, allocations to the
Committee on Appropriations of the Senate, discretionary
spending limits, and other appropriate levels and limits in
this resolution by up to $1,786,000,000 in budget authority
for fiscal years 2005, and by the amount of outlays flowing
therefrom in 2005 and subsequent years, for a bill, joint
resolution, motion, amendment, or conference report that
provides additional fiscal year 2005 discretionary
appropriations, in excess of levels provided in this
resolution, to expand the maximum Pell Grant award, make
grants available year-round, increase the income protection
for independent students, increase funding for student
support services, and increase funding for campus child care.
______

SA 2750. Mr. FEINGOLD (for himself, Mr. Corzine, and Mr. Durbin)
submitted an amendment intended to be proposed by him to the concurrent
resolution S. Con. Res. 95, setting forth the congressional budget for
the United States Government for fiscal year 2005 and including the
appropriate budgetary levels for fiscal years 2006 through 2009; which
was ordered to lie on the table; as follows:

On page 3, line 9, increase the amount by $9,936,000,000.
On page 3, line 10, increase the amount by $7,446,000,000.
On page 3, line 11, increase the amount by $2,032,000,000.
On page 3, line 12, increase the amount by $390,000,000.
On page 3, line 13, increase the amount by $90,000,000.
On page 3, line 17, increase the amount by $9,936,000,000.
On page 3, line 18, increase the amount by $7,446,000,000.
On page 3, line 19, increase the amount by $2,032,000,000.
On page 3, line 20, increase the amount by $390,000,000.
On page 3, line 21, increase the amount by $90,000,000.
On page 4, line 20, increase the amount by $9,936,000,000.
On page 4, line 21, increase the amount by $7,446,000,000.
On page 4, line 22, increase the amount by $2,032,000,000.
On page 4, line 23, increase the amount by $390,000,000.
On page 4, line 24, increase the amount by $90,000,000.
On page 5, line 3, decrease the amount by $9,936,000,000.
On page 5, line 4, decrease the amount by $19,414,000,000.
On page 5, line 6, decrease the amount by $19,804,000,000.
On page 5, line 7, decrease the amount by $19,894,000,000.
On page 5, line 11, decrease the amount by $9,936,000,000.
On page 5, line 12, decrease the amount by $17,382,000,000.
On page 5, line 13, decrease the amount by $19,414,000,000.
On page 5, line 14, decrease the amount by $19,804,000,000.
On page 5, line 15, decrease the amount by $19,894,000,000.
On page 31, line 7, strike $30,000,000,000 and replace with
$50,000,000,000.
______

SA 2751. Mr. BAUCUS (for himself, Mr. Daschle, Mr. Lieberman, Mr.
Jeffords, Mrs. Feinstein, Mr. Bingaman, Mrs. Murray and Mr.
Rockefeller) submitted an amendment intended to be proposed by him to
the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; as follows:

Strike section 201(c).
______

SA 2752. Mr. PRYOR submitted an amendment intended to be proposed by
him to the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; which was ordered to lie on the table; as follows:

At the end of title V, insert the following:

SEC. __. FINDINGS AND SENSE OF THE SENATE.

(a) Findings.--The Senate finds that--
(1) the United States is in the grip of pervasively higher
natural gas prices;
(2) high natural gas prices are, in general, having an
effect that is rippling through the United States economy and
are, in particular, impacting home energy bills;
(3) while persons in many sectors can adapt to gas price
increases, persons in some sectors simply cannot;
(4) elderly and disabled citizens who are living on fixed
incomes, low-income individuals, and the working poor face
hardships wrought by natural gas prices;
(5) the energy burden for persons among the working poor
often exceeds 40 percent of those persons' incomes under
normal conditions;

[[Page S2571]]

(6) under current circumstances, natural gas prices are
unnaturally high, and those are not normal circumstances;
(7) while critically important and encouraged, State energy
assistance and charitable assistance funds have been
overwhelmed by the crisis caused by the high gas prices;
(8) the Federal Low-Income Home Energy Assistance Program
(referred to in this section as ``LIHEAP'') and the companion
weatherization assistance program (referred to in this
section as ``WAP''), are the Federal Government's primary
means to assist eligible low-income individuals in the United
States to shoulder the burdens caused by their home heating
and cooling needs;
(9) in 2003, LIHEAP reached only 15 percent of the persons
in the United States who were eligible for assistance under
the program;
(10) since LIHEAP's inception, its inflation-adjusted
buying power has eroded by 58 percent;
(11) the aggressive draw-down of Federal funds from LIHEAP
to address legitimate winter heating demands has led to a
subsequent cooling crisis that will be manifest later this
year; and
(12) more individuals in the United States succumb to
extreme heat than all other weather phenomena combined.
(b) Sense of the Senate.--It is the sense of the Senate
that the levels in this concurrent resolution assume--
(1) an authorization of $3,400,000,000 for each of fiscal
years 2004 through 2006 to carry out the LIHEAP program;
(2) an authorization of $325,000,000 for fiscal year 2004,
$400,000,000 for fiscal year 2005, and $500,000,000 for
fiscal year 2006 to carry out the WAP program;
(3) appropriations, for those programs, of sufficient
additional funds to realistically address the immediate
heating crisis, and the cooling crisis that awaits the United
States this summer, as well as the systemic shortfalls that
have plagued those programs and the eligible individuals that
the programs are designed to assist; and
(4) advance appropriations of the necessary funds to ensure
the smooth operation of those programs during times of peak
demand.
______

SA 2753. Mrs. FEINSTEIN (for herself, Mr. Hollings, Mr. Corzine, Mr.
Breaux, Mr. Schumer, Mr. Dodd, Mr. Biden, Ms. Mikulski, Mrs. Murray,
and Mr. Graham) submitted an amendment intended to be proposed by her
to the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; which was ordered to lie on the table; as follows:

On page 54, after line 22, insert the following new
section:

SEC. 510. SENSE OF THE SENATE REGARDING FUNDING FOR PORT
SECURITY.

(a) Findings.--The Senate makes the following findings:
(1) In the United States, the system of maritime commerce,
including seaports and other ports, is a critical element of
the United States economic, social, and environmental
infrastructure.
(2) In 2001, ports in the United States handled
approximately 5,400 ships, the majority of which were owned
by foreign persons and crewed by nationals of foreign
countries, that made a total of more than 60,000 calls at
such ports.
(3) In a typical year, more than 17,000,000 cargo
containers are handled at ports in the United States.
(4) Maritime commerce is the primary mode of transportation
for international trade, with ships carrying more than 80
percent of such trade, by volume.
(5) Disruption of trade flowing through United States ports
could have a catastrophic impact on both the United States
and the world economies.
(6) In addition to the economic importance of United States
ports, such ports form a critical link in the United States
national security structure, and are necessary to ensure that
United States military material can be effectively and
quickly shipped to any location where such material is
needed.
(7) Terrorist groups, including extremist groups such as al
Qaeda, are likely to consider, formulate, and execute plans
to conduct a terrorist strike against one or more of the
ports in the United States.
(8) Terrorists have conducted attacks against maritime
commerce in the past, including the October 2002 attack on
the French oil tanker LIMBERG and the October 2000 attack on
the USS COLE in Yemen.
(9) It is critical that port security be enhanced and
improved through the adoption of better formulated security
procedures, the adoption of new regulations and law, and
investment in long-term capital improvements to the structure
of the United States most critical ports.
(10) Effective funding to provide adequate security at
United States ports requires a commitment to provide Federal
funds over multiple years to fund long-term capital
improvement projects.
(b) Sense of the Senate.--It is the sense of the Senate
that--
(1) the budget of the United States should provide adequate
funding for port security projects and not less than the
amount of such funding that is adequate to implement an
effective port security plan;
(2) the implementation of the budget of the United States
should permit the provision of Federal funds over multiple
years to fund long-term security improvement projects at
ports in the United States; and
(3) the Secretary of Homeland Security should, as soon as
practicable, develop a funding plan for port security that
permits funding over multiple years for such projects.
______

SA 2754. Mrs. FEINSTEIN (for herself, Mr. Kyl, Mr. Bingaman, Mrs.
Hutchison, Mr. Kennedy, Mr. Cornyn, Mrs. Boxer, Mr. Domenici, Mrs.
Clinton, Mr. McCain, Mr. Schumer, Mr. Graham of Florida, Mr.
Lautenberg, Ms. Cantwell, Mr. Corzine, Mr. Feingold, Mr. Edwards, and
Mr. Alexander) submitted an amendment intended to be proposed by her to
the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC.   . SENSE OF THE SENATE ON THE STATE CRIMINAL ALIEN
ASSISTANCE PROGRAM.

(a) Findings.--The Senate finds the following:
(1) Control of illegal immigration is a Federal
responsibility.
(2) The State Criminal Alien Assistance Program (SCAAP)
provides critical funding to States and localities for
reimbursement of costs incurred as a result of housing
undocumented criminal aliens.
(3) In fiscal year 2003, however, State and local
governments spent at least $14,000,000,000 in costs
associated with the incarceration of undocumented criminal
aliens.
(4) The Federal Government provided $248,000,000 in
appropriated funding to the State Criminal Alien Assistance
Program (SCAAP) to re imburse State and local governments for
these costs in fiscal year 2003.
(5) The Federal Govermnent provided $300,000,000 in
appropriated funding to the State Criminal Alien Assistance
Program (SCAAP) to reimburse State and local governments for
these costs in fiscal year 2004.
(6) In fiscal years 2003 and 2004, the Administration did
not request funding for the SCAAP program.
(7) The Administration did not request funding for SCAAP in
its fiscal year 2005 budget.
(b) Sense of the Senate.--It is the sense of the Senate
that the levels in this concurrent resolution assume that--
(1) Congress fund the SCAAP program for $850,000,000 for
fiscal year 2005; and
(2) Congress enact the long-term reauthorization of the
SCAAP program to reimburse State and local governments for
the burdens undocumented criminal aliens have placed on the
local criminal justice system.
______

SA 2755. Mr. HATCH (for himself and Mr. Bingaman) submitted an
amendment intended to be proposed by him to the bill S. 1637, to amend
the Internal Revenue Code of 1986 to comply with the World Trade
Organization rulings on the FSC/ETI benefit in a manner that preserves
jobs and production activities in the United States, to reform and
simplify the international taxation rules of the United States, and for
other purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC.   . EXCLUSION OF INCENTIVE STOCK OPTIONS AND EMPLOYEE
STOCK PURCHASE PLAN STOCK OPTIONS FROM WAGES.

(a) Exclusion From Employment Taxes.--
(1) Social Security Taxes.--
(A) Section 3121(a) of the Internal Revenue Code of 1986
(relating to definition of wages) is amended by striking
``or'' at the end of paragraph (20), by striking the period
at the end of paragraph (21) and inserting ``; or'', and by
inserting after paragraph (21) the following new paragraph:
``(22) remuneration on account of--
``(A) a transfer of a share of stock to any individual
pursuant to an exercise of an incentive stock option (as
defined in section 422(b)) or under an employee stock
purchase plan (as defined in section 423(b)), or
``(B) any disposition by the individual of such stock.''
(B) Section 209(a) of the Social Security Act is amended by
striking ``or'' at the end of paragraph (17), by striking the
period at the end of paragraph (18) and inserting ``; or'',
and by inserting after paragraph (18) the following new
paragraph:
``(19) Remuneration on account of--
``(A) a transfer of a share of stock to any individual
pursuant to an exercise of an incentive stock option (as
defined in section 422(b) of the Internal Revenue Code of
1986) or under an employee stock purchase plan (as defined in
section 423(b) of such Code), or ``(B) any disposition by the
individual of such stock.''
(2) Railroad retirement Taxes.--Subsection (e) of section
3231 of such Code is amended by adding at the end the
following new paragraph:

[[Page S2572]]

``(12) Qualified stock options.--The term `compensation'
shall not include any remuneration on account of--
``(A) a transfer of a share of stock to any individual
pursuant to an exercise of an incentive stock option (as
defined in section 422(b)) or under an employee stock
purchase plan (as defined in section 423(b)), or
``(B) any disposition by the individual of such stock.''
(3) Unemployment taxes.--Section 3306(b) of such Code
(relating to definition of wages) is amended by striking
``or'' at the end of paragraph (17), by striking the period
at the end of paragraph (18) and inserting ``; or'', and by
inserting after paragraph (18) the following new paragraph:
``(19) remuneration on account of--
``(A) a transfer of a share of stock to any individual
pursuant to an exercise of an incentive stock option (as
defined in section 422(b)) or under an employee stock
purchase plan (as defined in section 423(b)), or
``(B) any disposition by the individual of such stock.''
(b) Wage Withholding Not Required on Disqualifying
Dispositions.--Section 421(b) of the Internal Revenue Code of
1986 (relating to effect of disqualifying dispositions) is
amended by adding at the end the following new sentence: ``No
amount shall be required to be deducted and withheld under
chapter 24 with respect to any increase in income
attributable to a disposition described in the preceding
sentence.''
(c) Wage Withholding Not Required on Compensation Where
Option Price is Between 85 Percent and 100 Percent of Value
of Stock.--Section 423(c) of the Internal Revenue Code of
1986 (relating to special rule where option price is between
85 percent and 100 percent of value of stock) is amended by
adding at the end the following new sentence: ``No amount
shall be required to be deducted and withheld under chapter
24 with respect to any amount treated as compensation under
this subsection.''
______

SA 2756. Mr. HATCH (for himself, Mr. Breaux, and Mrs. Lincoln)
submitted an amendment intended to be proposed by him to the bill S.
1637, to amend the Internal Revenue Code of 1986 to comply with the
World Trade Organization rulings on the FSC/ETI benefit in a manner
that preserves jobs and production activities in the United States, to
reform and simplify the international taxation rules of the United
States, and for other purposes; which was ordered to lie on the table;
as follows:

At the appropriate place, insert the following:

Subtitle  --Provisions Relating To S Corporation Reform and
Simplification

Part I--Maximum Number of Shareholders of an S Corporation

SEC.  . MEMBERS OF FAMILY TREATED AS 1 SHAREHOLDER.

(a) In General.--Paragraph (1) of section 1361 (c)
(relating to special rules for applying subsection (b)) is
amended to read as follows:
``(1) Members of family treated as 1 shareholder.--
``(A) In general.--For purpose of subsection (b)(1)(A)--
``(i) except as provided in clause (ii), a husband and wife
(and their estates) shall be treated as 1 shareholder, and
``(ii) in the case of a family with respect to which an
election is in effect under subparagraph (E), all members of
the family shall be treated as 1 shareholder.
``(B) Members of the family.--For purpose of subparagraph
(A)(ii), the term `members of the family' means the common
ancestor, lineal descendants of the common ancestor and the
spouses of such lineal descendants or common ancestor.
``(C) Common ancestor.--For purposes of this paragraph, an
individual shall not be considered a common ancestor if, as
of the later of the effective date of this paragraph or the
time the election under section 1362(a) is made, the
individual is more than 6 generations removed from the
youngest generation of shareholders.
``(D) Effect of adoption, etc.--In determining whether any
relationship specified in subparagraph (B) or (C) exists, the
rules of section 152(b)(2) shall apply.
``(E) Election.--An election under subparagraph (A)(ii)--
``(i) must be made with the consent of all persons who are
shareholders (including those that are family members) in the
corporation on the day the election is made,
``(ii) in the case of--
``(I) an electing small business trust, shall be made by
the trustee of the trust, and
``(II) a qualified subchapter S trust, shall be made by the
beneficiary of the trust,
``(iii) under regulations, shall remain in effect until
terminated, and
``(iv) shall apply only with respect to 1 family in any
corporation.''.
(b) Relief From Inadvertent Invalid Election or
Termination.-- Section 1362(f) (relating to inadvertent
invalid elections or terminations), as amended by this Act,
is amended--
(1) by inserting ``or under section 1361(c)(1)(A)(ii)''
after ``section 1361(b)(3)(B)(ii)'' in paragraph (1), and
(2) by inserting ``or under section 1361(c)(1)(E)(iii)''
after ``section 1361(b)(3)(C)'' in paragraph (1)(B).
(c) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2004.

SEC.  . INCREASE IN NUMBER OF ELIGIBLE SHAREHOLDERS TO 100.

(a) In General.--Section 1361(b)(1)(A) (defining small
business corporation) is amended by striking ``75'' and
inserting ``100''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2004.

SEC.  . NONRESIDENT ALIENS ALLOWED AS BENEFICIARIES OF AN
ELECTING SMALL BUSINESS TRUST.

(a) In General.--Section 1361(e)(1)(A)(i)(I) is amended by
inserting ``(including a nonresident alien individual)''
after ``individual''.
(b) Conforming Amendment.--Clause (v) of section
1361(c)(2)(B) is amended by adding at the end the following
new sentence: ``This clause shall not apply for purposes of
subsection (b)(1)(C).''.
(c) Effective Date.--The amendments made by this section
shall take effect on the date of the enactment of this Act.

Part II--Termination of Election and Additions to Tax Due to Passive
Investment Income

SEC.  . MODIFICATIONS TO PASSIVE INCOME RULES.

(a) Increased Percentage Limit.--
(1) In general.--Subsection (a)(2) of section 1375
(relating to tax imposed when passive investment income of
corporation having accumulated earnings and profits exceeds
25 percent of gross receipts) is amended by striking ``25
percent'' and inserting ``60 percent''.
(2) Conforming Amendments.--
(A) Section 26(b)(2)(J) is amended by striking ``25
percent'' and inserting ``60 percent''.
(B) Section 1362(d)(3)(A)(i)(II) is amended by striking
``25 percent'' and inserting ``60 percent''.
(C) The heading for paragraph (3) of section 1362(d) is
amended by striking ``25 PERCENT'' and inserting ``60
PERCENT''.
(D) Section 1375(b)(1)(A)(i) is amended by striking ``25
percent'' and inserting ``60 percent''.
(E) The heading for section 1375 is amended by striking
``25 percent'' and inserting ``60 percent.''
(F) The table of sections for part III of subchapter S of
chapter 1 is amended by striking ``25 percent'' in the item
relating to section 1375 and inserting ``60 percent''.
(b) Capital Gain Not Treated as Passive Investment
Income.--Section 1362(d)(3) is amended--
(1) by striking ``annuities,'' and all that follows in
subparagraph (C)(i) and inserting ``and annuities.'', and
(2) by striking subparagraphs (C)(iv) and (D) and by
redesignating subparagraph (E) as subparagraph (D).
(c) Conforming Amendments.--Section 1375(d) is amended by
striking ``subchapter C'' both places it appears and
inserting ``accumulated''.
(d) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2004.

Part III--Treatment of S Corporation Shareholders

SEC.  . TRANSFER OF SUSPENDED LOSSES INCIDENT TO DIVORCE.

(a) In General.--Section 1366(d) (relating to special rules
for losses and deductions) is amended by adding at the end
the following new paragraph:
``(4) Transfer of suspended losses and deductions when
stock is transferred incident to divorce.--For purposes of
paragraph (2), the transfer of any shareholder's stock in an
S corporation incident to a decree of divorce shall include
any loss or deduction described in such paragraph
attributable to such stock.''
(b) Effective Date.--The amendment made by this section
shall apply to transfers in taxable years beginning after
December 31, 2004.

SEC.  . USE OF PASSIVE ACTIVITY LOSS AND AT-RISK AMOUNTS BY
QUALIFIED SUBCHAPTER S TRUST INCOME
BENEFICIARIES.

(a) In General.--Section 1361(d)(1) (relating to special
rule for qualified subchapter S trust) is amended--
(1) by striking ``and'' at the end of subparagraph (A),
(2) by striking the period at the end of subparagraph (B)
and inserting ``, and'', and
(3) by adding at the end the following new subparagraph:
``(C) for purposes of applying sections 465 and 469(g) to
the beneficiary of the trust, the disposition of the S
corporation stock by the trust shall be treated as a
disposition by such beneficiary.''.
(b) Effective Date.--The amendments made by this section
shall apply to transfers in taxable years beginning after
December 31, 2004.

SEC.  . DISREGARD OF UNEXERCISED POWERS OF APPOINTMENT IN
DETERMINING POTENTIAL CURRENT BENEFICIARIES OF
ESBT.

(a) In General.--Section 1361(e)(2) (defining potential
current beneficiary) is amended by inserting ``(determined
without regard to any unexercised (in whole or in part) power
of appointment during such period)'' after ``of the trust''
in the first sentence.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2004.

SEC.  . CLARIFICATION OF ELECTING SMALL BUSINESS TRUST
DISTRIBUTION RULES.

(a) In General.--Section 641(c)(1) (relating to special
rules for taxation of electing small business trusts) is
amended--

[[Page S2573]]

(1) by striking ``and'' at the end of subparagraph (A),
(2) by redesignating subparagraph (B) as subparagraph (C),
and
(3) by inserting after subparagraph (A) the following new
subparagraph:
``(B) any distribution attributable to the portion treated
as a separate trust shall be treated separately from any
distribution attributable to the portion not so treated,
and''.
(b) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2004.

Part IV--Provisions Relating to Banks

SEC.   . SALE OF STOCK IN IRA RELATING TO S CORPORATION
ELECTION EXEMPT FROM PROHIBITED TRANSACTION
RULES.

(a) In General.--Section 4975(d) (relating to exemptions)
is amended by striking ``or'' at the end of paragraph (14),
by striking the period at the end of paragraph (15) and
inserting ``; or'', and by adding at the end the following
new paragraph:
``(16) a sale of stock held by a trust which constitutes an
individual retirement account under section 408(a) to the
individual for whose benefit such account is established if
such sale is pursuant to an election under section
1362(a).''.
(b) Effective Date.--The amendments made by this section
shall apply to sales of stock held by individual retirement
accounts on the date of the enactment of this Act.

SEC.   . EXCLUSION OF INVESTMENT SECURITIES INCOME FROM
PASSIVE INCOME TEST FOR BANK S CORPORATIONS.

(a) In General.--Section 1362(d)(3) (relating to where
passive investment income exceeds certain percentage of gross
receipts for 3 consecutive taxable years and corporation has
accumulated earnings and profits), as amended by this Act, is
amended by adding at the end the following new subparagraph:
``(E) Exception for Banks; etc.--In the case of a bank (as
defined in section 581), a bank holding company (as defined
in section 246A(c)(3)(B)(ii)), or a qualified subchapter S
subsidiary which is a bank, the term `passive investment
income' shall not include--
``(i) interest income earned by such bank, bank holding
company, or qualified subchapter S subsidiary, or
``(ii) dividends on assets required to be held by such
bank, bank holding company, or qualified subchapter S
subsidiary to conduct a banking business, including stock in
the Federal Reserve Bank, the Federal Home Loan Bank, or the
Federal Agricultural Mortgage Bank or participation
certificates issued by a Federal Intermediate Credit Bank.''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2004.

SEC.   . TREATMENT OF QUALIFYING DIRECTOR SHARES.

(a) In General.--Section 1361 (defining S corporation) is
amended by adding at the end the following new subsection:
``(f) Treatment of Qualifying Director Shares.--
``(1) In General.--For purposes of this subchapter--
``(A) qualifying director shares shall not be treated as a
second class of stock, and
``(B) no person shall be treated as a shareholder of the
corporation by reason of holding qualifying director shares.
``(2) Qualifying director shares defined.--For purposes of
this subsection, the term `qualifying director shares' means
any shares of stock in a bank (as defined in section 581) or
in a bank holding company registered as such with the Federal
Reserve System--
``(i) which are held by an individual solely by reason of
status as a director of such bank or company or its
controlled subsidiary; and
``(ii) which are subject to an agreement pursuant to which
the holder is required to dispose of the shares of stock upon
termination of the holder's status as a director at the same
price as the individual acquired such shares of stock.
``(3) Distributions.--A distribution (not in part or full
payment in exchange for stock) made by the corporation with
respect to qualifying director shares shall be includable as
ordinary income of the holder and deductible to the
corporation as an expense in computing taxable income under
section 1363(b) in the year such distribution is received.''.
(b) Conforming Amendment.--Section 1366(a) is amended by
adding at the end the following new paragraph:
``(3) Allocation with respect to qualifying director
shares.--The holders of qualifying director shares (as
defined in section 1361(f)) shall not, with respect to such
shares of stock, be allocated any of the items described in
paragraph (1).''.
(c) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2004.

Part V--Qualified Subchapter S Subsidiaries

SEC.   . RELIEF FROM INADVERTENTLY INVALID QUALIFIED
SUBCHAPTER S SUBSIDIARY ELECTIONS AND
TERMINATIONS.

(a) In General.--Section 1362(f) (relating to inadvertent
invalid elections or terminations) is amended--
(1) by inserting ``or under section 1361(b)(3)(B)(ii)''
after ``subsection (a)'' in paragraph (1),
(2) by inserting ``or under section 1361(b)(3)(C)'' after
``subsection (d)'' in paragraph (1)(B),
(3) by inserting ``or a qualified subchapter S subsidiary,
as the case may be'' after ``small business corporation'' in
paragraph (3)(A),
(4) by inserting ``or a qualified subchapter S subsidiary,
as the case may be'' after ``S corporation'' in paragraph
(4), and
(5) by inserting ``or a qualified subchapter S subsidiary,
as the case may be'' after ``S corporation'' in the matter
following paragraph (4).
(b) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2004.

SEC.   . INFORMATION RETURNS FOR QUALIFIED SUBCHAPTER S
SUBSIDIARIES.

(a) In General.--Section 1361(b)(3)(A) (relating to
treatment of certain wholly owned subsidiaries) is amended by
inserting ``and in the case of information returns required
under part III of subchapter A of chapter 61'' after
``Secretary''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2004.

Part VI--Additional Provisions

SEC.   . ELIMINATION OF ALL EARNINGS AND PROFITS ATTRIBUTABLE
TO PRE-1983 YEARS.

(a) In General.--Subsection (a) of section 1311 of the
Small Business Job Protection Act of 1996 is amended to read
as follows:
``(a) In General.--If a corporation was an electing small
business corporation under subchapter S of chapter 1 of the
Internal Revenue Code of 1986 for any taxable year beginning
before January 1, 1983, the amount of such corporation's
accumulated earnings and profits (as of the beginning of the
first taxable year beginning after December 31, 2003) shall
be reduced by an amount equal to the portion (if any) of such
accumulated earnings and profits which were accumulated in
any taxable year beginning before January 1, 1983, for which
such corporation was an electing small business corporation
under such subchapter S.''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2004.
______

SA 2757. Mr. FEINGOLD (for himself, Mr. Corzine, and Mr. Durbin)
submitted an amendment intended to be proposed by him to the concurrent
resolution S. Con. Res. 95, setting forth the congressional budget for
the United States Government for fiscal year 2005 and including the
appropriate budgetary levels for fiscal years 2006 through 2009; which
was ordered to lie on the table; as follows:

On page 3, line 9, increase the amount by $9,936,000,000.
On page 3, line 10, increase the amount by $7,446,000,000.
On page 3, line 11, increase the amount by $2,032,000,000.
On page 3, line 12, increase the amount by $390,000,000.
On page 3, line 13, increase the amount by $90,000,000.
On page 3, line 17, increase the amount by $9,936,000,000.
On page 3, line 18, increase the amount by $7,446,000,000.
On page 3, line 19, increase the amount by $2,032,000,000.
On page 3, line 20, increase the amount by $390,000,000.
On page 3, line 21, increase the amount by $90,000,000.
On page 4, line 20, increase the amount by $9,936,000,000.
On page 4, line 21, increase the amount by $7,446,000,000.
On page 4, line 22, increase the amount by $2,032,000,000.
On page 4, line 23, increase the amount by $390,000,000.
On page 4, line 24, increase the amount by $90,000,000.
On page 5, line 3, increase the amount by $9,936,000,000.
On page 5, line 4, increase the amount by $17,382,000,000.
On page 5, line 5, increase the amount by $19,414,000,000.
On page 5, line 6, increase the amount by $19,804,000,000.
On page 5, line 7, increase the amount by $19,894,000,000.
On page 5, line 11, increase the amount by $9,936,000,000.
On page 5, line 12, increase the amount by $17,382,000,000.
On page 5, line 13, increase the amount by $19,414,000,000.
On page 5, line 14, increase the amount by $19,804,000,000.
On page 5, line 15, increase the amount by $19,894,000,000.
On page 31, line 7, strike $30,000,000,000 and replace with
$50,000,000,000.
______

SA 2758. Mr. LAUTENBERG (for himself and Mr. Dorgan) submitted an
amendment intended to be proposed by him to the concurrent resolution
S. Con. Res. 95, setting forth the congressional budget for the United
States Government for fiscal year 2005 and including the appropriate
budgetary levels for fiscal years 2006 through 2009; which was ordered
to lie on the table; as follows:

On page 45, after line 13, insert the following:

[[Page S2574]]

SEC. ___. POINT OF ORDER REQUIRING OFFSET FOR SUPPLEMENTAL
APPROPRIATIONS FOR IRAQ RECONSTRUCTION.

(a) Point of Order.--It shall not be in order in the Senate
to consider any supplemental appropriations bill (or any
motion, amendment, or conference report on any supplemental
appropriation bill) providing additional resources for
rehabilitation and reconstruction in Iraq unless the
resources provided in the bill, motion, amendment, or
conference report for such activities are fully offset in
that fiscal year.
(b) Waiver and Appeal.--This section may be waived or
suspended in the Senate only by an affirmative vote of \3/5\
of the members, duly chosen and sworn. An affirmative vote of
\3/5\ of the Members of the Senate, duly chosen and sworn,
shall be required in the Senate to sustain an appeal of the
ruling of the chair on a point of order raised under this
section.
______

SA 2759. Mr. KOHL (for himself and Mr. Hatch) submitted an amendment
intended to be proposed by him to the concurrent resolution S. Con.
Res. 95, setting forth the congressional budget for the United States
Government for fiscal year 2005 and including the appropriate budgetary
levels for fiscal years 2006 through 2009; which was ordered to lie on
the table; as follows:

On page 20, line 17, increase the amount by $122,000,000.
On page 20, line 18, increase the amount by $15,000,000.
On page 20, line 22, increase the amount by $34,000,000.
On page 21, line 1, increase the amount by $31,000,000.
On page 21, line 5, increase the amount by $24,000,000.
On page 21, line 9, increase the amount by $18,000,000.
On page 23, line 5, decrease the amount by $122,000,000.
On page 23, line 6, decrease the amount by $15,000,000.
On page 23 line 10, decrease the amount by $34,000,000.
On page 23, line 14, decrease the amount by $31,000,000.
On page 23, line 18, decrease the amount by $24,000,000.
On page 23, line 22, decrease the amount by $18,000,000.
______

SA 2760. Mr. DORGAN submitted an amendment intended to be proposed by
him to the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; which was ordered to lie on the table; as follows:

On page 3, line 9, increase the amount by $344,000,000.
On page 3, line 10, increase the amount by $632,000,000.
On page 3, line 11, increase the amount by $510,000,000.
On page 3, line 12, increase the amount by $610,000,000.
On page 3, line 13, increase the amount by $104,000,000.
On page 3, line 17, increase the amount by $344,000,000.
On page 3, line 18, increase the amount by $632,000,000.
On page 3, line 19, increase the amount by $510,000,000.
On page 3, line 20, increase the amount by $610,000,000.
On page 3, line 21, increase the amount by $104,000,000.
On page 4, line 4, increase the amount by $1,100,000,000.
On page 4, line 12, increase the amount by $172,000,000.
On page 4, line 13, increase the amount by $316,000,000.
On page 4, line 14, increase the amount by $255,000,000.
On page 4, line 15, increase the amount by $305,000,000.
On page 4, line 16, increase the amount by $52,000,000.
On page 4, line 20, increase the amount by $172,000,000.
On page 4, line 21, increase the amount by $316,000,000.
On page 4, line 22, increase the amount by $255,000,000.
On page 4, line 23, increase the amount by $305,000,000.
On page 4, line 24, increase the amount by $52,000,000.
On page 5, line 3, increase the amount by $172,000,000.
On page 5, line 4, decrease the amount by $488,000,000.
On page 5, line 5, decrease the amount by $743,000,000.
On page 5, line 6, decrease the amount by $1,048,000,000.
On page 5, line 7, decrease the amount by $1,100,000,000.
On page 5, line 11, decrease the amount by $172,000,000.
On page 5, line 12, decrease the amount by $488,000,000.
On page 5, line 13, decrease the amount by $743,000,000.
On page 5, line 14, decrease the amount by $1,048,000,000.
On page 5, line 15, decrease the amount by $1,000,000,000.
On page 20, line 17, increase the amount by $1,100,000,000.
On page 20, line 18, increase the amount by $172,000,000.
On page 20, line 22, increase the amount by $316,000,000.
On page 21, line 1, increase the amount by $255,000,000.
On page 21, line 5, increase the amount by $305,000,000.
On page 21, line 9, increase the amount by $52,000,000.
On page 39, line 18, increase the amount by $1,100,000,000.
On page 39, line 19, increase the amount by $172,000,000.
On page 40, line 2, increase the amount by $316,000,000.
______

SA 2761. Mr. DODD (for himself, Mrs. Murray, Mr. Corzine, Ms.
Mikulski, and Mr. Bingaman) submitted an amendment intended to be
proposed by him to the concurrent resolution S. Con. Res. 95, setting
forth the congressional budget for the United States Government for
fiscal year 2005 and including the appropriate budgetary levels for
fiscal years 2006 through 2009; which was ordered to lie on the table;
as follows:

On pace 3, line 9, increase the amount by $120;000,000.
On page 3, line 10, increase the amount by $98,000,000.
On page 3, line 11, increase the amount by $14,000,000.
On page 3, line 12, increase the amount by $5,000,000.
On page 3, line 17, increase the amount by $120,000,000.
On page 3, line 18, increase the amount by $98,000,000.
On page 3, line 19, increase the amount by $14,000,000.
On page 3, line 20, increase the amount by $5,000,000.
On page 4, line 20, increase the amount by $120,000,000.
On page 4, line 21, increase the amount by $98.000,000.
On page 4, line 22, increase the amount by $14,000,000.
On page 4, line 23, increase the amount by $5,000,000.
On page 5, line 3, decrease the amount by $120,000,000.
On page 5, line 4, decrease the amount by $218,000,000.
On page 5, line 5, decrease the amount by $232,000,000.
On page 5, line 6, decrease the amount by $237,000,000.
On page 5, line 7, decrease the amount by $237,000,000.
On page 5, line 11, decrease the amount by $120,000,000.
On page 5, line 12, decrease the amount by $218,000,000.
On page 5, line 13, decrease the amount by $232,000,000.
On page 5, line 14, decrease the amount by $237,000,000.
On page 5, line 15, decrease the amount by $237,000,000.
At the end of Title III, insert the following:

SEC. ___. RESERVE FUND FOR THE MATERNAL AND CHILD HEALTH
BLOCK GRANT.

The Chairman of the Committee on the Budget of the Senate
shall revise the aggregates, functional totals, allocations
to the Committee on Appropriations of the Senate,
discretionary spending limits, and other appropriate levels
and limits in this resolution by up to $120 million in budget
authority for fiscal year 2005, and by the amount of outlays
flowing therefrom in 2005 and subsequent years, for a bill,
joint resolution, motion, amendment, or conference report
that provides additional fiscal year 2005 discretionary
appropriations, in excess of levels provided in this
resolution, for the Maternal and Child Health Block Grant,
included in this resolution for the Department of Health and
Human Services.
______

SA 2762. Mr. DODD (for himself, Mrs. Murray, Mr. Corzine, Ms.
Stabenow, and Mr. Kohl) submitted an amendment intended to be proposed
by him to the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; which was ordered to lie on the table; as follows:

On page 3, line 9, increase the amount by $60,000,000.
On page 3, line 10, increase the amount by $1,301,000,000.
On page 3, line 11, increase the amount by $541,000,000.
On page 3, line 12, increase the amount by $100,000,000.
On page 3, line 17, increase the amount by $60,000,000.
On page 3, line 18, increase the amount by $1,301,000,000.
On page 3, line 19, increase the amount by $541,000,000.
On page 3, line 20, increase the amount by $100,000,000.
On page 4, line 20, increase the amount by $60,000,000.
On page 4, line 21, increase the amount by $1,301,000,000.
On page 4, line 22, increase the amount by $541,000,000.

[[Page S2575]]

On page 4, line 23, increase the amount by $100,000,000.
On page 5, line 3, decrease the amount by $60,000,000.
On page 5, line 4, decrease the amount by $1,361,000,000.
On page 5, line 5, decrease the amount by $1,902,000,000.
On page 5, line 6, decrease the amount by $2,002,000,000.
On page 5, line 7, decrease the amount by $2,002,000,000.
On page 5; line 11, decrease the amount by $60,000,000.
On page 5, line 12, decrease the amount by $1,361,000,000.
On page 5, line 13, decrease the amount by $1,902,000,000.
On page 5, line 14, decrease the amount by $2,002,000,000.
On page 5, line 15, decrease the amount by $2,002,000,000.
At the end of Title III, insert the following:

SEC. ___. RESERVE FUND FOR THE 21ST CENTURY COMMUNITY
LEARNING CENTERS PROGRAM.

The Chairman of the Committee on the Budget of the Senate
shall revise the aggregates; functional totals, allocations
to the Committee on Appropriations of the Senate,
discretionary spending limits; and other appropriate levels
and limits in this resolution by up to $1,000,000,000 in
budget authority for fiscal year 2005, and by the amount of
outlays flowing therefrom in 2005 and subsequent years, for a
bill, joint resolution, motion, amendment, or conference
report that provides additional fiscal year 2005
discretionary appropriations, in excess of levels provided in
this resolution, for the 21st Century Community Learning
Centers program in the Department of Education.
______

SA 2763. Mr. BREAUX (for himself and Mr. Lott) submitted an amendment
intended to be proposed by him to the bill S. 1637, to amend the
Internal Revenue Code of 1986 to comply with the World Trade
Organization rulings on the FSC/ETI benefit in a manner that preserves
jobs and production activities in the United States, to reform and
simplify the international taxation rules of the United States, and for
other purposes; which was ordered to lie on the table; as follows:

On page 146, after line 23, add the following:

SEC. __. REPEAL OF FOREIGN BASE COMPANY SHIPPING INCOME FOR
QUALIFIED U.S. FLAG FLEETS AND CARIBBEAN BASIN
SHIPPING CORPORATIONS.

(a) In General.--Subsection (f) of section 954 is amended
to read as follows:
``(f) Foreign Base Company Shipping Income.--For purposes
of subsection (a)(4)--
``(1) In General.--The term `foreign base company shipping
income' means income derived from, or in connection with, the
use (or hiring or leasing for use) of any aircraft or vessel
in foreign commerce, or from, or in connection with, the
performance of services directly related to the use of any
such aircraft, or vessel, or from the sale, exchange, or
other disposition of any such aircraft or vessel. Such term
includes, but is not limited to--
``(A) dividends and interest received from a foreign
corporation in respect of which taxes are deemed paid under
section 902, and gain from the sale, exchange, or other
disposition of stock or obligations of such a foreign
corporation to the extent that such dividends, interest, and
gains are attributable to foreign base company shipping
income, and
``(B) that portion of the distributive share of the income
of a partnership attributable to foreign base company
shipping income.

Such term includes any income derived from a space or ocean
activity (as defined in section 863(d)(2)). Except as
provided in subparagraph (A), such term shall not include any
dividend or interest income which is foreign personal holding
company income (as defined in subsection (c)).
``(2) Exceptions.--
``(A) In general.--Such term shall not include income
attributable to a qualified U.S.-flag fleet or a Caribbean
Basin shipping corporation.
``(B) Qualified u.s.-flag fleet.--For purposes of this
subsection, the term `qualified U.S.-flag fleet' means a
fleet or 2 or vessels each of which--
``(i) is documented under the laws of the United States,
``(ii) has a deadweight tonnage of not less than 10,000
deadweight tons,
``(iii) are owned by a member of the controlled group
(within the meaning of section 1563) of the controlled
foreign corporation, and
``(iv) has been in operation for not less than 320 days
during the preceding taxable year.

For purposes of clause (iv), days during which a vessel is
dry docked or undergoing survey, inspection, or repair shall
be considered to be days during which the vessel is operated.
``(C) Caribbean basin shipping corporation.--For purposes
of this subsection--
``(i) In general.--The term `Caribbean Basin shipping
corporation' means a corporation of which 75 percent of the
foreign base company shipping income (as defined in paragraph
(1)) for the taxable year is Caribbean Basin shipping income.
``(ii) Caribbean basin shipping income.--The term
`Caribbean Basin shipping income' means foreign base company
shipping income (as defined in paragraph (1)) derived from or
in connection with the operation of any nonpassenger vessel
in foreign commerce--

``(I) within any Caribbean Basin country,
``(II) among Caribbean Basin countries, or
``(III) between any Caribbean Basin country and the United
States.

Such term includes any such foreign base company shipping
income derived from that portion of any transshipping
originating or terminating in any country which is not a
Carribean Basin country if such transshipping otherwise
satisfies the requirements of this clause.
``(iii) Caribbean basin country.--The term `Caribbean Basin
country' means any beneficiary country (within the meaning of
section 212(a)(1)(A) of the Caribbean Basin Economic Recovery
Act), except that such term shall also include Anguilla,
Colombia, Mexico, the United States Virgin Islands, and
Venezuela.''.

SEC. __. INCOME OF MERCHANT SEAMAN EXCLUDABLE FROM GROSS
INCOME AS FOREIGN EARNED INCOME.

(a) In General.--Chapter 1 is amended by inserting after
subchapter Q the following new subchapter:

``Subchapter R--Election to Determine Taxable Income From Certain
International Shipping Activities Using per Ton Rate

``Sec. 1352. Alternative tax on qualifying shipping activities.
``Sec. 1353. Taxable income from qualifying shipping activities.
``Sec. 1354. Qualifying shipping tax election; revocation; termination.
``Sec. 1355. Definitions and special rules.
``Sec. 1356. Qualifying shipping activities.
``Sec. 1357. Items not subject to regular tax; depreciation; interest.
``Sec. 1358. Allocation of credits, income, and deductions.
``Sec. 1359. Disposition of qualifying shipping assets.

``SEC. 1352. ALTERNATIVE TAX ON QUALIFYING SHIPPING
ACTIVITIES.

``(a) In General.--In the case of an electing corporation--
``(1) the taxable income of such corporation from
qualifying shipping activities shall be the amount determined
under this subchapter, and
``(2) the corporate percentages of the items of income,
gain, loss, deduction, or credit of such corporation and of
other members of the electing group of such corporation which
would otherwise be taken into account by reason of its
qualifying shipping activities shall be taken into account to
the extent provided in section 1357.
``(b) Alternative Tax.--The taxable income of an electing
corporation from qualifying shipping activities, if otherwise
taxable under section 11, 882, or 887, shall be subject to
tax only under this section at the maximum rate specified in
section 11(b).
``(c) Transfers to Federal Vessel Financing Fund.--The
Secretary of the Treasury shall transfer to the Federal
Vessel Financing Fund created under title XI of the Merchant
Marine Act, 1936, the taxes collected under subsection (b).
Notwithstanding the preceding sentence, the income of a
foreign corporation shall not be subject to tax under this
subchapter to the extent its income is excludable from gross
income under section 883(a)(1) or section 894(a).

``SEC. 1353. TAXABLE INCOME FROM QUALIFYING SHIPPING
ACTIVITIES.

``(a) In General.--For purposes of this subchapter, the
taxable income of an electing corporation from qualifying
shipping activities shall be its corporate income percentage
of the sum of the amounts determined under subsection (b) for
each qualifying vessel operated by such electing corporation
or other electing entity.
``(b) Amounts.--For purposes of subsection (a), the amount
of taxable income of an electing entity for each qualifying
vessel shall equal the product of--
``(1) the daily notional taxable income from the operation
of the qualifying vessel in United States foreign trade, and
``(2) the number of days during the taxable year that the
electing entity operated such vessel as a qualifying vessel
in United States foreign trade.
``(c) Daily Notional Taxable Income.--For purposes of
subsection (b), the daily notional taxable income from the
operation of a qualifying vessel is--
``(1) 40 cents for each 100 tons of the net tonnage of the
vessel below 25,001 net tons, and
``(2) 20 cents for each 100 tons of the net tonnage of the
vessel in excess of 25,000 net tons.
``(d) Multiple Operators of Vessel.--If 2 or more persons
have a joint interest in a qualifying vessel and are
considered as operators of that vessel, the taxable income
from the operation of such vessel for that time (as
determined under this section) shall be allocated among such
persons on the basis of their ownership and charter interests
in such vessel or on such other basis as the Secretary may
prescribe by regulations.
``(e) Noncorporate Percentage.--Notwithstanding any
contrary provision of this subchapter, the noncorporate
percentage of any item of income, gain, loss, deduction, or
credit of any member of an electing group shall be taken into
account for all purposes of this subtitle as if this
subchapter were not in effect.

[[Page S2576]]

``SEC. 1354. QUALIFYING SHIPPING TAX ELECTION; REVOCATION;
TERMINATION.

``(a) In General.--Except as provided in subsections (b)
and (f), a qualifying shipping tax election may be made in
respect of any qualifying entity.
``(b) Condition of Election.--An election may be made by a
member of a controlled group under this subsection for any
taxable year only if all qualifying entities that are members
of the controlled group join in the election.
``(c) When Made.--An election under subsection (a) may be
made by a qualifying entity in such form as prescribed by the
Secretary. Such election shall be filed with the qualifying
entity's return for the first taxable year to which the
election shall apply, by the due date for such return
(including any applicable extensions).
``(d) Years for Which Effective.--An election under
subsection (a) shall be effective for the taxable year of the
qualifying entity for which it is made and for all succeeding
taxable years of the entity, until such election is
terminated under subsection (e).
``(e) Termination.--
``(1) By revocation.--
``(A) In general.--An election under subsection (a) may be
terminated by revocation.
``(B) When effective.--Except as provided in subparagraph
(C)--
``(i) a revocation made during the taxable year and on or
before the fifteenth day of the third month thereof shall be
effective on the 1st day of such taxable year, and
``(ii) a revocation made during the taxable year but after
such fifteenth day shall be effective on the first day of the
following taxable year.
``(C) Revocation may specify prospective date.--If the
revocation specifies a date for revocation which is on or
after the day on which the revocation is made, the revocation
shall be effective on and after the date so specified.
``(2) By entity ceasing to be qualifying entity.--
``(A) In general.--An election under subsection (a) shall
be terminated whenever (at any time on or after the first day
of the first taxable year for which the entity is an electing
entity) such entity ceases to be a qualifying entity.
``(B) When effective.--Any termination under this paragraph
shall be effective on and after the date of cessation.
``(f) Election After Termination.--If a qualifying entity
has made an election under subsection (a) and if such
election has been terminated under subsection (e), such
entity (and any successor entity) shall not be eligible to
make an election under subsection (a) for any taxable year
before its fifth taxable year which begins after the first
taxable year for which such termination is effective, unless
the Secretary consents to such election.

``SEC. 1355. DEFINITIONS AND SPECIAL RULES.

``(a) Definitions.--For purposes of this subchapter:
``(1) Controlled group.--The term `controlled group' means
any group of trusts and business entities whose members would
be treated as a single employer under the rules of section
52(a) (without regard to paragraphs (1) and (2) thereof) and
section 52(b)(1).
``(2) Corporate income percentage.--The term `corporate
income percentage' means the least aggregate share, expressed
as a percentage, of any item of income or gain of an electing
corporation or electing group of which such corporation is a
member from qualifying shipping activities that would, but
for an election in effect under this subchapter, be required
to be reported on the Federal income tax return of an
electing corporation during any taxable period. In the case
of an electing group which includes 2 or more electing
corporations, the corporate income percentage of each such
corporation shall be determined on the basis of such
corporation's direct and indirect ownership and charter
interests in qualifying vessels of the electing group or on
such other basis as the Secretary may prescribe by
regulations.
``(3) Corporate loss percentage.--The term `corporate loss
percentage' means the greatest aggregate share, expressed as
a percentage, of any item of loss, deduction, or credit of an
electing corporation or electing group of which such
corporation is a member from qualifying shipping activities
that would, but for an election in effect under this
subchapter, be required to be reported on the Federal income
tax return of an electing corporation during any taxable
period.
``(4) Corporate percentages.--The term `corporate
percentages' means the corporate income percentage and the
corporate loss percentage.
``(5) Electing corporation.--The term `electing
corporation' means any C corporation that is an electing
entity or that would, but for an election in effect under
this subchapter, be required to report any item of income,
gain, loss, deduction, or credit of an electing entity on its
Federal income tax return.
``(6) Electing entity.--The term `electing entity' means
any qualifying entity for which an election is in effect
under this subchapter.
``(7) Electing group.--The term `electing group' means a
controlled group of which one or more members is an electing
entity.
``(8) Noncorporate percentage.--The term `noncorporate
percentage' means the difference between 100 percent and the
corporate income percentage or corporate loss percentage, as
applicable.
``(9) Qualifying entity.--The term `qualifying entity'
means a trust or business entity that--
``(A) operates 1 or more qualifying vessels, and
``(B) meets the shipping activity requirement in subsection
(c).
``(10) Qualifying shipping assets.--The term `qualifying
shipping assets' means any qualifying vessel and other assets
which are used in core qualifying activities as described in
section 1356(b).
``(11) Qualifying vessel.--The term `qualifying vessel'
means a self-propelled (or a combination self-propelled and
non-self-propelled) United States flag vessel of not less
than 10,000 deadweight tons used in the United States foreign
trade.
``(12) United states domestic trade.--The term `United
States domestic trade' means the transportation of goods or
passengers between places in the United States.
``(13) United states flag vessel.--The term `United States
flag vessel' means any vessel documented under the laws of
the United States.
``(14) United states foreign trade.--The term `United
States foreign trade' means the transportation of goods or
passengers between a place in the United States and a foreign
place or between foreign places.
``(b) Operating a Vessel.--For purposes of this subchapter:
``(1) Except as provided in paragraph (2), an entity is
treated as operating any vessel owned by, or chartered
(including a time charter) to, the entity.
``(2) An entity is treated as operating a vessel that it
has chartered out on bareboat charter terms only if--
``(A) the vessel is temporarily surplus to the entity's
requirements and the term of the charter does not exceed 3
years; or
``(B) the vessel is bareboat chartered to a member of a
controlled group which includes such entity or to an
unrelated third party that sub-bareboats or time charters the
vessel to a member of such controlled group (including the
owner).
``(c) Shipping Activity Requirement.--For purposes of this
section, the shipping activity requirement is met for a
taxable year only by an entity described in paragraph (1),
(2), or (3).
``(1) An entity in the first taxable year of its qualifying
shipping tax election if, for the preceding taxable year, the
test in paragraph (4) is met.
``(2) An entity in the second or any subsequent taxable
year of its qualifying shipping tax election if, for each of
the 2 preceding taxable years, the test in paragraph (4) is
met.
``(3) An entity that would be described in paragraph (1) or
(2) if the test in paragraph (4) were applied on an aggregate
basis to the controlled group of which such entity is a
member, and vessel charters between members of the controlled
group were disregarded.
``(4) The test in this paragraph is met if on average at
least 25 percent of the aggregate tonnage of qualifying
vessels operated by the entity were owned by the entity or
chartered to the entity on bareboat charter terms. For
purposes of the preceding sentence, vessels chartered
(including time chartered) to an entity by a member of a
controlled group which includes the entity, or by a third
party that bareboat charters the vessels from the entity or a
member of the entity's controlled group, shall be treated as
chartered to the entity on bareboat charter terms.
``(d) Effect of Temporarily Ceasing To Operate a Qualifying
Vessel.--
``(1) A temporary cessation by an electing entity, in
operation of a qualifying vessel shall be disregarded for
purposes of subsections (b) and (c) until an occurrence
described in paragraph (3) if the electing entity gives
timely notice to the Secretary stating--
``(A) that it has temporarily ceased to operate the
qualifying vessel, and
``(B) its intention to resume operating the qualifying
vessel.
``(2) Notice shall be deemed timely if given not later than
the due date (including extensions) for the electing entity's
tax return (as set forth in section 6072(b)) for the taxable
year in which the temporary cessation begins.
``(3) The disregard provided by paragraph (1) continues
until the earlier to occur of--
``(A) the electing entity abandoning its intention to
resume operation of the qualifying vessel, or
``(B) the electing entity resuming operation of the
qualifying vessel.
``(e) Effect of Temporarily Operating a Qualifying Vessel
in the United States Domestic Trade.--
``(1) The temporary operation in the United States domestic
trade of any qualifying vessel which had been used in the
United States foreign trade shall be disregarded for purposes
of this subchapter until an occurrence described in paragraph
(3) if the electing entity gives timely notice to the
Secretary stating--
``(A) that it temporarily operates or has operated in the
United States domestic trade a qualifying vessel which had
been used in the United States foreign trade, and
``(B) its intention to resume operation of the vessel in
the United States foreign trade.
``(2) Notice shall be deemed timely if given not later than
the due date (including extensions) for the electing entity's
tax return (as set forth in section 6072(b)) for the taxable

[[Page S2577]]

year in which the temporary cessation begins.
``(3) The disregard provided by paragraph (1) continues
until the earlier to occur of--
``(A) the electing entity abandoning its intention to
resume operations of the vessel in the United States foreign
trade, or
``(B) the electing entity resuming operation of the vessel
in the United States foreign trade.
``(f) Effect of Change in Use.--
``(1) Except as provided in subsection (e), a vessel that
is used other than for operations in the United States
foreign trade on other than a temporary basis ceases to be a
qualifying vessel when such use begins.
``(2) For purposes of this subsection, a change in use of a
vessel, other than a commencement of operation in the United
States domestic trade, is taken to be permanent unless there
are circumstances indicating that it is temporary.
``(g) Regulations.--The Secretary shall prescribe such
regulations as may be necessary or appropriate to carry out
the purposes of this section.

``SEC. 1356. QUALIFYING SHIPPING ACTIVITIES.

``(a) Qualifying Shipping Activities.--For purposes of this
subchapter, the term `qualifying shipping activities' means
the activities of an electing entity which consist of--
``(1) its core qualifying activities,
``(2) its qualifying secondary activities, and
``(3) its qualifying incidental activities.
``(b) Core Qualifying Activities.--
``(1) The core qualifying activities of an electing entity
are--
``(A) its activities in operating qualifying vessels in
United States foreign trade, and
``(B) other activities of the electing entity and other
members of its electing group that are an integral part of
its business of operating qualifying vessels in United States
foreign trade, including ownership or operation of barges,
containers, chassis, and other equipment that are the
complement of, or used in connection with, a qualifying
vessel in United States foreign trade, the inland haulage of
cargo shipped, or to be shipped, on qualifying vessels in
United States foreign trade, and the provision of terminal,
maintenance, repair, logistical, or other vessel, container,
or cargo-related services that are an integral part of
operating qualifying vessels in United States foreign trade.
``(2) Core qualifying activities do not include the
provision by an entity of facilities or services to any
person, other than--
``(A) another member of such entity's electing group,
``(B) a consignor, consignee, or other customer of such
entity's business of operating qualifying vessels in United
States foreign trade, or
``(C) a member of an alliance, joint venture, pool,
partnership, or similar undertaking involving the operation
of qualifying vessels in United States foreign trade of which
such entity is a member.
``(c) Qualifying Secondary Activities.--For purposes of
this subsection--
``(1) the term `secondary activities' means activities that
are not core qualifying activities, and--
``(A) are the active management or operation of vessels in
the United States foreign trade,
``(B) the provision of vessel, container, or cargo-related
facilities or services to any person, or
``(C) such other activities as may be prescribed by the
Secretary pursuant to regulations, and
``(2) the qualified secondary activities of an electing
entity are its secondary activities and the secondary
activities of other members of its electing group, but only
to the extent that, without regard to this subchapter, the
aggregate gross income derived by the electing entity and the
other members of its electing group from such activities does
not exceed 20 percent of the aggregate gross income derived
by the electing entity and the other members of its electing
group from their core qualifying activities.
``(d) Qualifying Incidental Activities.--Shipping-related
activities carried on by an electing entity or another member
of its electing group are qualified incidental activities of
the electing entity if--
``(1) they are incidental to its core qualifying
activities,
``(2) they are not qualifying secondary activities, and
``(3) without regard to this subchapter, the aggregate
gross income derived by the electing entity and other members
of its electing group from such activities does not exceed
0.1 percent of such entities' aggregate gross income from
their core qualifying activities.

``SEC. 1357. ITEMS NOT SUBJECT TO REGULAR TAX; DEPRECIATION;
INTEREST.

``(a) Exclusion From Gross Income.--Gross income of an
electing entity shall not include the corporate income
percentage of--
``(1) its income from qualifying shipping activities in the
United States foreign trade,
``(2) its income from money, bank deposits, and other
temporary investments which are reasonably necessary to meet
the working capital requirements of its qualifying shipping
activities, and
``(3) its income from money or other intangible assets
accumulated pursuant to a plan to purchase qualifying
shipping assets.
``(b) Electing Group Member.--Gross income of a member of
an electing group that is not an electing entity shall not
include the corporate income percentage of its income from
qualifying shipping activities that are taken into account
under this subchapter as qualifying shipping activities of an
electing entity.
``(c) Denial of Losses, Deductions, and Credits.--
``(1) General rule.--Subject to paragraph (2), the
corporate loss percentage of each item of loss, deduction
(other than for interest expense), or credit of any taxpayer
with respect to any activity the income from which is
excluded from gross income under this section shall be
disallowed.
``(2) Depreciation.--Notwithstanding paragraph (1), the
deduction for depreciation of a qualifying shipping asset
shall be allowed in determining the adjusted basis of such
asset for purposes of determining gain from its disposition.
``(A) Except as provided in subparagraph (B), the straight
line method of depreciation shall apply to the corporate
income percentage of qualifying shipping assets the income
from operation of which is excluded from gross income under
this section.
``(B) Subparagraph (A) shall not apply to any qualifying
shipping asset which is subject to a charter entered into
prior to the effective date of this subchapter.
``(3) Interest.--The corporate loss percentage of an
electing entity's interest expense shall be disallowed in the
ratio that the fair market value of its qualifying vessel
assets bears to the fair market value of its total assets.
``(d) Section Inapplicable to Unrelated Persons.--This
section shall not apply to a taxpayer that is not a member of
an electing group.

``SEC. 1358. ALLOCATION OF CREDITS, INCOME, AND DEDUCTIONS.

``(a) Qualifying Shipping Activities.--For purposes of this
chapter the qualifying shipping activities of an electing
entity shall be treated as a separate trade or business
activity distinct from all other activities conducted by the
entity.
``(b) Exclusion of Credits or Deductions.--
``(1) No deduction shall be allowed against the taxable
income of an electing corporation from qualifying shipping
activities, and no credit shall be allowed against the tax
imposed by section 1352(b).
``(2) No deduction shall be allowed for any net operating
loss attributable to the qualifying shipping activities of a
corporation to the extent that such loss is carried forward
by the corporation from a taxable year preceding the first
taxable year for which such corporation was an electing
corporation.
``(c) Transactions not at Arm's Length.--Section 482
applies in accordance with this subsection to a transaction
or series of transactions--
``(1) as between an electing entity and another person, or
``(2) as between an entity's qualifying shipping activities
and other activities carried on by it.

``SEC. 1359. DISPOSITION OF QUALIFYING SHIPPING ASSETS.

``(a) In General.--If an electing entity sells or disposes
of qualifying shipping assets (as defined in subsection (c))
in an otherwise taxable transaction, at the election of the
entity no gain shall be recognized if replacement qualifying
shipping assets are acquired during the period specified in
subsection (b), except to the extent that the amount realized
upon such sale or disposition exceeds the cost of the
replacement qualifying shipping assets.
``(b) Period Within Which Property Must Be Replaced.--The
period referred to in subsection (a) shall be the period
beginning 1 year prior to the disposition of the qualifying
shipping assets and ending--
``(1) 3 years after the close of the first taxable year in
which the gain is realized, or
``(2) subject to such terms and conditions as may be
specified by the Secretary, on such later date as the
Secretary may designate on application by the taxpayer. Such
application shall be made at such time and in such manner as
the Secretary may by regulations prescribe.
``(c) Time for Assessment of Deficiency Attributable to
Gain.--If an electing entity has made the election provided
in subsection (a), then--
``(1) the statutory period for the assessment of any
deficiency, for any taxable year in which any part of the
gain is realized, attributable to such gain shall not expire
prior to the expiration of 3 years from the date the
Secretary is notified by the entity (in such manner as the
Secretary may by regulations prescribe) of the replacement
tonnage tax property or of an intention not to replace, and
``(2) such deficiency may be assessed before the expiration
of such 3-year period notwithstanding the provisions of
section 6212(c) or the provisions of any other law or rule of
law which would otherwise prevent such assessment.
``(d) Basis of Replacement Qualifying Shipping Assets.--In
the case of replacement qualifying shipping assets purchased
by an electing entity which resulted in the nonrecognition of
any part of the gain realized as the result of a sale or
other disposition of qualifying shipping assets, the basis
shall be the cost of such property decreased in the amount of
the gain not so recognized; and if the property purchased
consists of more than 1 piece of property, the basis
determined under this sentence shall be allocated to the
purchased properties in proportion to their respective costs.
``(e) Replacement Qualifying Shipping Assets Must Be
Acquired From Unrelated Person in Certain Cases.--

[[Page S2578]]

``(1) In general.--Subsection (a) shall not apply if the
replacement qualifying shipping assets are acquired from a
related person except to the extent that the related person
acquired the replacement qualifying shipping assets from an
unrelated person during the period applicable under
subsection (b).
``(2) Related person.--For purposes of this subsection, a
person is related to another person if the person bears a
relationship to the other person described in section 267(b)
or 707(b)(1).''.
(b) Technical and Conforming Amendment.--The second
sentence of section 56(g)(4)(B)(i) is amended by striking
``or under section 114.'' and inserting ``, under section 114
or under section 1357.''.
(c) Clerical Amendment.--The table of subchapters for
chapter 1 is amended by inserting after the item relating to
subchapter Q the following new item:

``Subchapter A. Election To Determine Taxable Income From Certain
International Shipping Activities Using per Ton Rate.''.

(d) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after the date of the
enactment of this Act.

SEC. __. INCOME OF MERCHANT SEAMAN EXCLUDABLE FROM GROSS
INCOME AS FOREIGN EARNED INCOME.

(a) In General.--Section 911(d) (relating to citizens or
residents of the United States living abroad) is amended by
redesignating paragraph (9) as paragraph (10) and by
inserting after paragraph (8) the following:
``(9) Application to certain merchant marine crews.--In
applying this section to an individual who is a citizen or
resident of the United States and who is employed for a
minimum of 90 days during a taxable year as a regular member
of the crew of a qualified vessel (as defined in section
1355)--
``(A) the individual shall be treated as a qualified
individual without regard to the requirements of paragraph
(1), and
``(B) any earned income attributable to services performed
by that individual so employed on such a vessel while it is
engaged in transportation between the United States and a
foreign country or possession of the United States shall be
treated (except as provided by subsection (b)(1)(B)) as
foreign earned income regardless of the source of such
income.''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after the date of the
enactment of this Act.
______

SA 2764. Mr. BREAUX (for himself and Mr. Hatch) submitted an
amendment intended to be proposed by him to the bill S. 1637, to amend
the Internal Revenue Code of 1986 to comply with the World Trade
Organization rulings on the FSC/ETI benefit in a manner that preserves
jobs and production activities in the United States, to reform and
simplify the international taxation rules of the United States, and for
other purposes; which was ordered to lie on the table; as follows:

On page 179, after line 25, add the following:

SEC. __. REPEAL OF 10 YEAR RULE FOR QUALIFIED MORTGAGE BONDS;
HOLIDAY FOR USE OF CERTAIN REPAYMENTS.

(a) Repeal.--Subparagraph (A) of section 143(a)(2)
(relating to qualified mortgage issue defined) is amended by
striking the last sentence thereof.
(b) Holiday for Prepayments.--Subparagraph (A) of section
143(a)(2) is amended by adding at the end the following flush
sentence: ``Clause (iv) shall not apply to amounts received
during 2004, 2005, and 2006.''.
(c) Effective Dates.--
(1) Subsection (a).--The amendment made by subsection (a)
shall apply to bonds issued after the date of the enactment
of this Act.
(2) Subsection (b).--The amendment made by subsection (b)
shall apply to amounts received after December 31, 2003.
______

SA 2765. Mr. BINGAMAN submitted an amendment intended to be proposed
by him to the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; which was ordered to lie on the table; as follows:

On page 45, after line 13, insert the following:

SEC. ___. POINT OF ORDER REQUIRING THAT INCREASES THE NUMBER
OF TAXPAYERS AFFECTED BY THE ALTERNATIVE
MINIMUM TAX AGAINST LEGISLATION.

(a) Point of Order in the Senate.--It shall not be in order
in the Senate to consider a bill, amendment, motion, joint
resolution, or conference report that increases the number of
taxpayers affected by the alternative minimum tax, except for
a measure that extends expiring provisions relating to the
child audit, the 10 percent tax bracket, and the marriage
penalty.
(b) Supermajority Waiver and Appeal.--This section may be
waived or suspended in the Senate only by an affirmative vote
of \3/5\ of the Members, duly chosen and sworn. An
affirmative vote of \3/5\ of the Members of the Senate, duly
chosen and sworn, shall be required in the Senate to sustain
an appeal of the ruling of the Chair on a point of order
raised under this section.
______

SA 2766. Mr. BINGAMAN (for himself, Mr. Hatch, Mr. Breaux, and Mrs.
Lincoln) submitted an amendment intended to be proposed by him to the
bill S. 1637, to amend the Internal Revenue Code of 1986 to comply with
the World Trade Organization rulings on the FSC/ETI benefit in a manner
that preserves jobs and production activities in the United States, to
reform and simplify the international taxation rules of the United
States, and for other purposes; which was ordered to lie on the table;
as follows:

On page 378, after line 12, add the following:

SEC. __. MOTOR VEHICLE DEALER TRANSITIONAL ASSISTANCE.

(a) In General.--For purposes of subtitle A of the Internal
Revenue Code of 1986, in the case of a taxpayer who elects
the application of this section and who was a party to a
motor vehicle sales and service agreement with a motor
vehicle manufacturer who announced in December 2000 that it
would phase-out the motor vehicle brand to which such
agreement relates--
(1) amounts received by such taxpayer from such
manufacturer on account of the termination of such agreement
(hereafter in this section referred to as ``termination
payment'') are considered to be received for property used in
the trade or business of a motor vehicle retail sales and
service dealership, and
(2) to the extent such termination payment is reinvested in
property used in a motor vehicle retail sales and service
dealership located within the United States, such property
shall qualify as like-kind replacement property to which
section 1031 of the Internal Revenue Code of 1986 shall apply
with the following modifications:
(A) Such section shall be applied without regard to
subparagraphs (A) and (B)(ii) of subsection (a)(3).
(B) The period described in section 1031(a)(3)(B) of such
Code shall be applied by substituting ``2 years'' for ``180
days''.
(b) Rules for Election.--
(1) Form of election.--The taxpayer shall make an election
under this section in such form and manner as the Secretary
of the Treasury may prescribe and shall include in such
election the amount of the termination payment received, the
identification of the replacement property purchased, and
such other information as the Secretary may prescribe.
(2) Election on amended return.--The Secretary of the
Treasury shall permit an election under this section on an
amended tax return for taxable years beginning before the
date of the enactment of this Act.
(c) Statute of Limitations.--Notwithstanding the provisions
of any other law or rule of law, the statutory period for the
assessment for any deficiency attributable to any termination
payment gain shall be extended until 3 years after the date
the Secretary of the Treasury is notified by the taxpayer of
the like-kind replacement property or an intention not to
replace.
(d) Effective Date.--This section shall apply to amounts
received after December 12, 2000, in taxable years ending
after such date.
______

SA 2767. Mr. BINGAMAN (for himself and Mrs. Hutchison) submitted an
amendment intended to be proposed by him to the bill S. 1637, to amend
the Internal Revenue Code of 1986 to comply with the World Trade
Organization rulings on the FSC/ETI benefit in a manner that preserves
jobs and production activities in the United States, to reform and
simplify the international taxation rules of the United States, and for
other purposes; which was ordered to lie on the table; as follows:

On page 179, after line 25, insert the following:

SEC. __. DISTRIBUTIONS FROM PUBLICLY TRADED PARTNERSHIPS
TREATED AS QUALIFYING INCOME OF REGULATED
INVESTMENT COMPANIES.

(a) In General.--Paragraph (2) of section 851(b) (defining
regulated investment company) is amended to read as follows:
``(2) at least 90 percent of its gross income is derived
from--
``(A) dividends, interest, payments with respect to
securities loans (as defined in section 512(a)(5)), and gains
from the sale or other disposition of stock or securities (as
defined in section 2(a)(36) of the Investment Company Act of
1940, as amended) or foreign currencies, or other income
(including but not limited to gains from options, futures or
forward contracts) derived with respect to its business of
investing in such stock, securities, or currencies, and
``(B) distributions or other income derived from an
interest in a qualified publicly traded partnership (as
defined in subsection (h)); and''
(b) Source Flow-Through Rule Not To Apply.--The last
sentence of section 851(b) is amended by inserting ``(other
than a qualified publicly traded partnership as defined in
subsection (h))'' after ``derived from a partnership''.

[[Page S2579]]

(c) Limitation on Ownership.--Subsection (c) of section 851
is amended by redesignating paragraph (5) as paragraph (6)
and inserting after paragraph (4) the following new
paragraph:
``(5) The term `outstanding voting securities of such
issuer' shall include the equity securities of a qualified
publicly traded partnership (as defined in subsection
(h)).''.
(d) Definition of Qualified Publicly Traded Partnership.--
Section 851 is amended by adding at the end the following new
subsection:
``(h) Qualified Publicly Traded Partnership.--For purposes
of this section, the term `qualified publicly traded
partnership' means a publicly traded partnership described in
section 7704(b) other than a partnership which would satisfy
the gross income requirements of section 7704(c)(2) if
qualifying income included only income described in
subsection (b)(2)(A).''.
(e) Definition of Qualifying Income.--Section 7704(d)(4) is
amended by striking ``section 851(b)(2)'' and inserting
``section 851(b)(2)(A)''.
(f) Limitation on Composition of Assets.--Subparagraph (B)
of section 851(b)(3) is amended to read as follows:
``(B) not more than 25 percent of the value of its total
assets is invested in--
``(i) the securities (other than Government securities or
the securities of other regulated investment companies) of
any one issuer,
``(ii) the securities (other than the securities of other
regulated investment companies) of two or more issuers which
the taxpayer controls and which are determined, under
regulations prescribed by the Secretary, to be engaged in the
same or similar trades or businesses or related trades or
businesses, or
``(iii) the securities of one or more qualified publicly
traded partnerships (as defined in subsection (h)).''.
(g) Application of Special Passive Activity Rule to
Regulated Investment Companies.--Subsection (k) of section
469 (relating to separate application of section in case of
publicly traded partnerships) is amended by adding at the end
the following new paragraph:
``(4) Application to regulated investment companies.--For
purposes of this section, a regulated investment company (as
defined in section 851) holding an interest in a qualified
publicly traded partnership (as defined in section 851(h))
shall be treated as a taxpayer described in subsection (a)(2)
with respect to items attributable to such interest.''.
(h) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after the date of the
enactment of this Act.
______

SA 2768. Mr. LIEBERMAN (for himself, Mr. Schumer, Ms. Mikulski, Mr.
Lautenberg, Mr. Biden, Mrs. Murray, Mr. Kennedy, Mr. Corzine, Mr.
Levin, Mr. Kohl, Mrs. Boxer, Mr. Dodd, Mr. Johnson, Mr. Akaka, Mr.
Durbin, Mr. Leahy, and Mr. Kerry) submitted an amendment intended to be
proposed by him to the concurrent resolution S. Con. Res. 95, setting
forth the congressional budget for the United States Government for
fiscal year 2005 and including the appropriate budgetary levels for
fiscal years 2006 through 2009; which was ordered to lie on the table;
as follows:

On page 3, line 9, increase the amount by $3,664,000,000.
On page 3, line 10, increase the amount by $4,533,000,000.
On page 3, line 11, increase the amount by $4,089,000,000.
On page 3, line 12, increase the amount by $ 1,160,000,000.
On page 3, line 13, increase the amount by $175,000,000.
On page 3, line 17, increase the amount by $3,664,000,000.
On page 3, line 18, increase the amount by $4,533,000,000.
On page 3, line 19, increase the amount by $4,089,000,000.
On page 3, line 20, increase the amount by $1,160,000,000.
On page 3, line 21, increase the amount by $175,000,000.
On page 4, line 4, increase the amount by $6,844,000,000.
On page 4, line 12, increase the amount by $1,832,000,000.
On page 4, line 13, increase the amount by $2,268,000,000.
On page 4, line 14, increase the amount by $2,045,000,000.
On page 4, line 15, increase the amount by $579,000,000.
On page 4, line 16, increase the amount by $88,000,000.
On page 4, line 20, increase the amount by $1,832,000,000.
On page 4, line 21, increase the amount by $2,265,000,000.
On page 4, line 22, increase the amount by $2,044,000,000.
On page 4, line 23, increase the amount by $581,000,000.
On page 4, line 24, increase the amount by $87,000,000.
On page 5, line 3, decrease the amount by $1,832,000,000.
On page 5, line 4, decrease the amount by $4,098,000,000.
On page 5, line 5, decrease the amount by $6,142,000,000.
On page 5, line 6, decrease the amount by $6,723,000,000.
On page 5, line 7, decrease the amount by $6,810,000,000.
On page 5, line 11, decrease the amount by $1,832,000,000.
On page 5, line 12, decrease the amount by $4,098,000,000.
On page 5, line 13, decrease the amount by $6,142,000,000.
On page 5, line 14, decrease the amount by $6,723,000,000.
On page 5, line 15, decrease the amount by $6,810,000,000.
On page 13, line 23, increase the amount by $1,400,000,000.
On page 13, line 24, increase the amount by $603,000,000.
On page 14, line 3, increase the amount by $337,000,000.
On page 14, line 7, increase the amount by $299,000,000.
On page 14, line 11, increase the amount by $94,000,000.
On page 14, line 15, increase the amount by $34,000,000.
On page 14, line 19, increase the amount by $3,409,000,000.
On page 14, line 20, increase the amount by $511,000,000.
On page 14, line 24, increase the amount by $1,364,000,000.
On page 15, line 3, increase the amount by $1,364,000,000.
On page 15, line 7, increase the amount by $170,000,000.
On page 16, line 12, increase the amount by $500,000,000.
On page 16, line 13, increase the amount by $160,000,000.
On page 16, line 17, increase the amount by $220,000,000.
On page 16, line 21, increase the amount by $90,000,000.
On page 16, line 25, increase the amount by $20,000,000.
On page 17, line 4, increase the amount by $10,000,000.
On page 20, line 17, increase the amount by $1,535,000,000.
On page 20, line 18, increase the amount by $558,000,000.
On page 20, line 22, increase the amount by $347,000,000.
On page 21, line 1, increase the amount by $292,000,000.
On page 21, line 5, increase the amount by $295,000,000.
On page 21 line 9, increase the amount by $44.000,000.
On page 39, line 18, increase the amount by $6,844,000,000.
On page 39, line 19, increase the amount by $1,832,000,000.
On page 40, line 2, increase the amount by $2,267,000,000.
______

SA 2769. Mr. BYRD submitted an amendment intended to be proposed by
him to the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; which was ordered to lie on the table; as follows:

On page 43, strike lines 11 through 20, and insert the
following:
(b) Funding for Bioshield.--Amounts made available for
Project Bioshield pursuant to Public Law 108-90 shall not be
scored for purposes of enforcing discretionary spending
limits in the Senate.
______

SA 2770. Mr. CHAMBLISS submitted an amendment intended to be proposed
by him to the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. __. SENSE OF THE SENATE CONCERNING INCLUSION OF ETHANOL
FUEL CREDIT IN DIRECT PAYMENTS LIMITATION.

It is the sense of the Senate that the levels in this
concurrent resolution assume that in making appropriations
and revenue decisions with respect to budget function 350,
the Senate--
(1) assumes that statutory changes will be made to the
payment limitations established under sections 1001 through
1001F of the Food Security Act of 1985 (7 U.S.C. 1308 through
1308-5); and
(2) supports the inclusion of the value to a person of the
applicable ethanol fuel credit under section 4081(c) of the
Internal Revenue Code of 1986 in the limitation on direct
payments established under section 1001(b) of the Food
Security Act of 1985 (7 U.S.C. 1308(c)).
______

SA 2771. Mr. HATCH (for himself and Mr. Biden) submitted an amendment
intended to be proposed by him to the concurrent resolution S. Con.
Res. 95, setting forth the congressional budget for the United States
Government for fiscal year 2005 and including the appropriate budgetary
levels for fiscal years 2006 through 2009; which was ordered to lie on
the table; as follows:

[[Page S2580]]

On page 20, line 17, increase the amount by $600,000,000.
On page 20, line 18, increase the amount by $132,000,000.
On page 20, line 22, increase the amount by $180,000,000.
On page 21, line 1, increase the amount by $120,000,000.
On page 21, line 5, increase the amount by $90,000,000.
On page 21, line 9, increase the amount by $78,000,000.
On page 21, line 13, decrease the amount by $600,000,000.
On page 21, line 14, decrease the amount by $132,000,000.
On page 21, line 18, decrease the amount by $180,000,000.
On page 21, line 22, decrease the amount by $120,000,000.
On page 22, line 1, decrease the amount by $90,000,000.
On page 22, line 5, decrease the amount by $78,000,000.
______

SA 2772. Mr. DURBIN submitted an amendment intended to be proposed by
him to the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; which was ordered to lie on the table; as follows:

On page 45, after line 13, insert the following:

SEC. __. POINT OF ORDER REQUIRING THAT THE AMT BE DEALT WITH
BEFORE OTHER TAX CUTS FOR THE WEALTHY.

(a) Point of Order in the Senate.--It shall not be in order
in the Senate to consider a bill, amendment, motion, joint
resolution, or conference report that would cut taxes for
taxpayers with annual adjusted gross incomes of greater than
$337,000 unless that measure or a previously enacted measure
permanently reduces the number of taxpayers and families with
annual adjusted gross incomes of less than $150,000 that will
be subject to the alternative minimum tax over the next
decade.
(b) Supermajority Waiver and Appeal.--This section may be
waived or suspended in the Senate only by an affirmative vote
of \3/5\ of the Members, duly chosen and sworn. An
affirmative vote of \3/5\ of the Members of the Senate, duly
chosen and sworn, shall be required in the Senate to sustain
an appeal of the ruling of the Chair on a point of order
raised under this section.
______

SA 2773. Mr. DURBIN (for himself, Mr. Levin, Mr. Kerry, Mrs. Murray,
Mr. Kohl, Mrs. Clinton, and Mrs. Feinstein) submitted an amendment
intended to be proposed by him to the concurrent resolution S. Con.
Res. 95, setting forth the congressional budget for the United States
Government for fiscal year 2005 and including the appropriate budgetary
levels for fiscal years 2006 through 2009; which was ordered to lie on
the table; as follows:

On page 8, line 21, increase the amount by $618,000,000.
On page 8, line 22, increase the amount by $62,000,000.
On page 9, line 1, increase the amount by $340,000,000.
On page 9, line 5, increase the amount by $116,000,000.
On page 9, line 9, increase the amount by $54,000,000.
On page 9, line 13, increase the amount by $25,000,000.
On page 16, line 12, increase the amount by $174,000,000.
On page 16, line 13, increase the amount by $49,000,000.
On page 16, line 17, increase the amount by $87,000,000.
On page 16, line 21, increase the amount by $22,000,000.
On page 16, line 25, increase the amount by $8,000,000.
On page 17, line 4, increase the amount by $5,000,000.
On page 23, line 5, increase the amount by $792,000,000.
On page 23, line 6, decrease the amount by $111,000,000.
On page 23, line 10, decrease the amount by $427,000,000.
On page 23, line 14, decrease the amount by $138,000,000.
On page 23, line 18, decrease the amount by $62,000,000.
On page 23, line 22, decrease the amount by $30,000,000.
______

SA 2774. Mr. DASCHLE (for himself, Mr. Dorgan, Mrs. Murray, Mr.
Bingaman, Mr. Johnson, Mr. Wyden, Ms. Stabenow, Mr. Akaka, Ms.
Cantwell, Mr. Inouye, and Mr. Reid) submitted an amendment intended to
be proposed by him to the concurrent resolution S. Con. Res. 95,
setting forth the congressional budget for the United States Government
for fiscal year 2005 and including the appropriate budgetary levels for
fiscal years 2006 through 2009; which was ordered to lie on the table;
as follows:

On page 3, line 9, increase the amount by $6,123,000,000.
On page 3, line 10, increase the amount by $688,000,000.
On page 3, line 11, increase the amount by $69,000,000.
On page 3, line 17, increase the amount by $6,123,000,000.
On page 3, line 18, increase the amount by $688,000,000.
On page 3, line 19, increase the amount by $69,000,000.
On page 4, line 20, increase the amount by $6,123,000,000.
On page 4, line 21, increase the amount by $688,000,000.
On page 4, line 22, increase the amount by $69,000,000.
On page 5, line 3, decrease the amount by $6,123,000,000.
On page 5, line 4, decrease the amount by $6,811,000,000.
On page 5, line 5, decrease the amount by $6,880,000,000.
On page 5, line 6, decrease the amount by $6,880,000,000.
On page 5, line 7, decrease the amount by $6,880,000,000.
On page 5, line 11, decrease the amount by $6,123,000,000.
On page 5, line 12, decrease the amount by $6,811,000,000.
On page 5, line 13, decrease the amount by $6,880,000,000.
On page 5, line 14, decrease the amount by $6,880,000,000.
On page 5, line 15, decrease the amount by $6,880,000,000.
At the end of Title III, insert the following:

SEC. ___. RESERVE FUND FOR INDIAN HEALTH SERVICE CLINICAL
SERVICES.

The Chairman of the Committee on the Budget of the Senate
shall revise the aggregates, functional totals, allocations
to the Committee on Appropriations of the Senate,
discretionary spending limits, and other appropriate levels
and limits in this resolution by up to $3,440,000,000 in
budget authority for fiscal year 2005, and by the amount of
outlays flowing therefrom in 2005 and subsequent years, for a
bill, joint resolution, motion, amendment, or conference
report that provides additional fiscal year 2005
discretionary appropriations, in excess of levels provided in
this resolution, for Indian Health Service clinical services,
included in this resolution for the Department of Health and
Human Services.
______

SA 2775. Ms. LANDRIEU submitted an amendment intended to be proposed
by her to the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; which was ordered to lie on the table; as follows:

On page 3, line 9, increase the amount by $876,000,000.
On page 3, line 10, increase the amount by $1,054,000,000.
On page 3, line 11, increase the amount by $998,000,000.
On page 3, line 12, increase the amount by $1,066,000,000.
On page 3, line 13, increase the amount by $1,520,000,000.
On page 3, line 17, increase the amount by $876,000,000.
On page 3, line 18, increase the amount by $1,054,000,000.
On page 3, line 19, increase the amount by $998,000,000.
On page 3, line 20, increase the amount by $1,066,000,000.
On page 3, line 21, increase the amount by $1,520,000,000.
On page 4, line 20, increase the amount by $876,000,000.
On page 4, line 21, increase the amount by $1,054,000,000.
On page 4, line 22, increase the amount by $998,000,000.
On page 4, line 23, increase the amount by $1,066,000,000.
On page 4, line 24, increase the amount by $1,520,000,000.
On page 5, line 3, increase the amount by $876,000,000.
On page 5, line 4, increase the amount by $1,930,000,000.
On page 5, line 5, increase the amount by $2,928,000,000.
On page 5, line 6, increase the amount by $3,994,000,000.
On page 5, line 7, increase the amount by $5,514,000,000.
On page 5, line 11, increase the amount by $876,000,000.
On page 5, line 12, increase the amount by $1,930,000,000.
On page 5, line 13, increase the amount by $2,928,000,000.
On page 5, line 14, increase the amount by $3,994,000,000.
On page 5, line 15, increase the amount by $5,514,000,000.

SEC.  . RESERVE FUND FOR ELIMINATING SURVIVOR BENEFIT PLAN--
SOCIAL SECURITY OFFSET.

If the Committee on Armed Services or the Committee on
Appropriations reports a bill or joint resolution, or an
amendment thereto is offered or a conference report thereon
is submitted, that provides for an increase to the minimum
Survivor Benefit Plan basic annuity for surviving spouses age
62 and older, the Chairman of the Committee on the Budget
shall revise the aggregates, functional totals, allocations,
discretionary caps,

[[Page S2581]]

and other appropriate levels and limits in this resolution by
up to $2,757,000,000 in budget authority and $2,757,000,000
in outlays over the total of fiscal years 2005 through 2009.
______

SA 2776. Mr. McCAIN submitted an amendment intended to be proposed by
him to the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; which was ordered to lie on the table; as follows:

SEC.___. RESTRICTIONS ON UNAUTHORIZED APPROPRIATIONS.

(a) In General.--It shall not be in order in the Senate to
consider any bill, joint resolution, motion, amendment, or
conference report that would provide an unauthorized
appropriation.
(b) Waiver or Suspension.--
(1) In the Senate, subsection (a) may be waived or
suspended only by an affirmative vote of three-fifths of the
Members of the Senate, duly chosen and sworn. An affirmative
vote of three-fifths of the Members of the Senate, duly
chosen and sworn, shall be required to sustain an appeal of
the ruling of the Chair on a point of order raised under
subsection (a).
(2) A point of order under subsection (a) may be raised by
a Senator as provided in section 313(e) of the Congressional
Budget Act of 1974 (2 U.S.C. 644(e)).
(3) If a point of order is sustained under subsection (a)
against a conference report in the Senate, the report shall
be disposed of as provided in section 313(d) of the
Congressional Budget Act of 1974 (2 U.S.C. 644(d)).
(c) Unauthorized Appropriation Defined.--In this section:
(1) Unauthorized Appropriation.--The term ``unauthorized
appropriation'' means an appropriation--
(A) not specifically authorized by law or Treaty
stipulation (unless the appropriation has been specifically
authorized by an Act or resolution previously passed by the
Senate during the same session or proposed in pursuance of an
estimate submitted in accordance with law); or
(B) the amount of which exceeds the amount specifically
authorized by law or Treaty stipulation (or specifically
authorized by an Act or resolution previously passed by the
Senate during the same session or proposed in pursuance of an
estimate submitted in accordance with law) to be
appropriated.
(2) Specifically authorized.--For purposes of paragraph
(1), an appropriation shall not be considered to be
specifically authorized if it is restricted or directed to,
or authorized to be obligated or expended for the benefit of,
an identifiable person, program, project, entity, or
jurisdiction by earmarking or other specification, whether by
name or description, in a manner that--
(A) discriminates against other persons, programs,
projects, entities, or jurisdictions similarly situated that
would be eligible, but for the restriction, direction, or
authorization, for the amount appropriated, or
(B) is so restricted, directed, or authorized that it
applies only to a single identifiable person, program,
project, entity, or jurisdiction,

unless the identifiable person, program, project, entity, or
jurisdiction to which the restriction, direction, or
authorization applies is described or otherwise clearly
identified in a law or Treaty stipulation (or an Act or
resolution previously passed by the Senate during the same
session or in the estimate submitted in accordance with law)
that specifically provides for the restriction, direction, or
authorization of appropriation for such person, program,
project, entity, or jurisdiction.
______

SA 2777. Mr. CORZINE proposed an amendment to the concurrent
resolution S. Con. Res. 95, setting forth the congressional budget for
the United States Government for fiscal year 2005 and including the
appropriate budgetary levels for fiscal years 2006 through 2009; as
follows:

On page 3, line 9, increase the amount by $20,000,000,000.
On page 3, line 10, increase the amount by $31,000,000,000.
On page 3, line 11, increase the amount by $34,000,000,000.
On page 3, line 12, increase the amount by $39,000,000,000.
On page 3, line 13, increase the amount by $36,000,000,000.
On page 3, line 17, increase the amount by $20,000,000,000.
On page 3, line 18, increase the amount by $31,000,000,000.
On page 3, line 19, increase the amount by $34,000,000,000.
On page 3, line 20, increase the amount by $39,000,000,000.
On page 3, line 21, increase the amount by $36,000,000,000.
On page 4, line 20, increase the amount by $20,000,000,000.
On page 4, line 21, increase the amount by $31,000,000,000.
On page 4, line 22, increase the amount by $34,000,000,000.
On page 4, line 23, increase the amount by $39,000,000,000.
On page 4, line 24, increase the amount by $36,000,000,000.
On page 5, line 3, decrease the amount by $20,000,000,000.
On page 5, line 4, decrease the amount by $31,000,000,000.
On page 5, line 5, decrease the amount by $34,000,000,000.
On page 5, line 6, decrease the amount by $39,000,000,000.
On page 5, line 7, decrease the amount by $36,000,000,000.
On page 5, line 11, decrease the amount by $20,000,000,000.
On page 5, line 12, decrease the amount by $31,000,000,000.
On page 5, line 13, decrease the amount by $34,000,000,000.
On page 5, line 14, decrease the amount by $39,000,000,000.
On page 5, line 15, decrease the amount by $36,000,000,000.
At the appropriate place, insert the following:

SEC. ___. RESERVE FUND TO PREVENT CUTS IN SOCIAL SECURITY
BENEFITS.

If legislation is reported by the Senate Committee on
Finance, or an amendment thereto is offered or a conference
report thereon is submitted that would extend the solvency of
the Social Security Trust Funds and prevent future cuts in
Social Security benefits, the Chairman of the Senate
Committee on the Budget may revise the aggregates,
allocations, and other appropriate levels and limits in this
resolution by not more than $160,000,000,000 to reflect such
legislation.
______

SA 2778. Mr. DORGAN (for himself, Mr. Hagel, Mr. Brownback, and Mr.
Johnson) submitted an amendment intended to be proposed by him to the
concurrent resolution S. Con. Res. 95, setting forth the congressional
budget for the United States Government for fiscal year 2005 and
including the appropriate budgetary levels for fiscal years 2006
through 2009; which was ordered to lie on the table; as follows:

On page 14, line 19, increase the amount by $260,000,000.
On page 14, line 20, increase the amount by $18,000,000.
On page 14, line 23, increase the amount by $260,000,000.
On page 14, line 24, increase the amount by $226,000,000.
On page 15, line 2, increase the amount by $260,000,000.
On page 15, line 3, increase the amount by $260,000,000.
On page 15, line 6, increase the amount by $260,000,000.
On page 15, line 7, increase the amount by $260,000,000.
On page 15, line 10, increase the amount by $260,000,000.
On page 15, line 11, increase the amount by $260,000,000.
On page 15, line 16, increase the amount by $660,000,000.
On page 15, line 17, increase the amount by $561,000,000.
On page 15, line 20, increase the amount by $60,000,000.
On page 15, line 21, increase the amount by $150,000,000.
On page 15, line 24, increase the amount by $60,000,000.
On page 15, line 25, increase the amount by $60,000,000.
On page 16, line 3, increase the amount by $60,000,000.
On page 16, line 4, increase the amount by $60,000,000.
On page 16, line 7, increase the amount by $60,000,000.
On page 16, line 8, increase the amount by $60,000,000.
On page 23, line 5, decrease the amount by $920,000,000.
On page 23, line 6, decrease the amount by $579,000,000.
On page 23, line 9, decrease the amount by $320,000,000.
On page 23, line 10, decrease the amount by $376,000,000.
On page 23, line 13, decrease the amount by $320,000,000.
On page 23, line 14, decrease the amount by $320,000,000.
On page 23, line 17, decrease the amount by $320,000,000.
On page 23, line 18, decrease the amount by $320,000,000.
On page 23, line 21, decrease the amount by $320,000,000.
On page 23, line 22, decrease the amount by $320,000,000.
On page 54, after line 22, insert the following:

SEC. __. SENSE OF THE SENATE REGARDING TAX INCENTIVES FOR
CERTAIN RURAL COMMUNITIES.

It is the sense of the Senate that if tax relief measures
are passed in accordance with the assumptions in this
resolution in this session of Congress, such legislation
should include--
(1) tax and other financial incentives, similar to those
included in the New Homestead Act (S. 602), to help rural
communities fight the economic decimation caused by chronic
out-migration by giving such communities the tools they need
to attract individuals to live and work, or to start and grow
a business, in such rural areas, and
(2) revenue provisions which fully offset the cost of such
tax and other financial incentives.
______

SA 2779. Mr. DORGAN (for himself and Mr. Reid) submitted an amendment
intended to be proposed by him

[[Page S2582]]

to the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; which was ordered to lie on the table; as follows:

On page 3, line 9, decrease the amount by $6,000,000,000.
On page 3, line 17, decrease the amount by $6,000,000,000.
On page 4, line 20, decrease the amount by $6,000,000,000.
On page 5, line 23, increase the amount by $6,000,000,000.
______

SA 2780. Mrs. CLINTON (for herself, Mr. Kennedy, Mr. Daschle, and Mr.
Bingaman) submitted an amendment intended to be proposed by her to the
concurrent resolution S. Con. Res. 95, setting forth the congressional
budget for the United States Government for fiscal year 2005 and
including the appropriate budgetary levels for fiscal years 2006
through 2009; which was ordered to lie on the table; as follows:

On page 28, after line 7, insert the following:

SEC. __. RESERVE FUND FOR ADDRESSING MINORITY HEALTH
DISPARITIES.

If the Committee on Appropriations of the Senate reports a
bill or joint resolution, or an amendment thereto is offered
or a conference report thereon is submitted, that addresses
minority health disparities through activities including
those at the HHS Office of Minority Health, the Office of
Civil Rights, the National Center on Minority Health and
Health Disparities, the Minority HIV/AIDS initiative, health
professions training, and through the Racial and Ethnic
Approaches to Community Health at the Centers for Disease
Control and provides not to exceed $400,000,000 in new budget
authority for fiscal year 2005, the chairman of the Committee
on the Budget may revise allocations of new budget authority
and outlays and other appropriate aggregates to reflect such
legislation, provided that such legislation would not
increase the deficit for fiscal year 2005 and for the period
of fiscal years 2005 through 2009.
______

SA 2781. Mr. LEAHY submitted an amendment intended to be proposed by
him to the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels fiscal years 2006
through 2009; which was ordered to lie on the table; as follows:

On page 3, line 9, increase the amount by $2,216,000,000.
On page 3, line 10, increase the amount by $2,898,000,000.
On page 3, line 11, increase the amount by $3,128 000,000.
On page 3, line 12, increase the amount by $3,272,000,000.
On page 3, line 13, increase the amount by $3,362,000,000.
On page 3, line 17, increase the amount by $2,216,000,000.
On page 3, line 18, increase the amount by $2,898,000,000.
On page 3, line 19, increase the amount by $3,128,000,000.
On page 3, line 20, increase the amount by $3,272,000,000.
On page 3, line 21, increase the amount by $3,362,000,000.
On page 4, line 4, increase the amount by $1,108,000,000.
On page 4, line 5, increase the amount by $1,449,000,000.
On page 4, line 6, increase the amount by $1,564,000,000.
On page 4, line 7, increase the amount by $1,636,000,000.
On page 4, line 8, increase the amount by $1,681,000,000.
On page 4, line 12, increase the amount by $1,108,000,000.
On page 4, line 13, increase the amount by $1,449,000,000.
On page 4, line 14, increase the amount by $1,564,000,000.
On page 4, line 15, increase the amount by $1,636,000,000.
On page 4, line 16, increase the amount by $1,681,000,000.
On page 4, line 20, increase the amount by $1,108,000,000.
On page 4, line 21, increase the amount by $1,449,000,000.
On page 4, line 22, increase the amount by $1,564,000,000.
On page 4, line 23, increase the amount by $1,636,000,000.
On page 4, line 24, increase the amount by $1,681,000,000.
On page 5, line 3, decrease the amount by $1,108,000,000.
On page 5, line 4, decrease the amount by $2,557,000,000.
On page 5, line 5, decrease the amount by $4,121,000,000.
On page 5, line 6, decrease the amount by $5,757,000,000.
On page 5, line 7, decrease the amount by $7,438,000,000.
On page 5, line 11, decrease the amount by $1,108,000,000.
On page 5, line 12, decrease the amount by $2,557,000,000.
On page 5, line 13, decrease the amount by $4,121,000,000.
On page 5, line 14, decrease the amount by $5,757,000,000.
On page 5, line 15, decrease the amount by $7,438,000,000.
On page 18, line 4, increase the amount by $1,108,000,000.
On page 18, line 5, increase the amount by $1,108,000,000.
On page 18, line 8, increase the amount by $1,449,000,000.
On page 18, line 9, increase the amount by $1,449,000,000.
On page 18, line 12, increase the amount by $1,564,000,000.
On page 18, line 13, increase the amount by $1,564,000,000.
On page 18, line 16, increase the amount by $1,636,000,000.
On page 18, line 17, increase the amount by $1,636,000,000.
On page 18, line 20, increase the amount by $1,681,000,000.
On page 18, line 21, increase the amount by $1,681,000,000.
______

SA 2782. Ms. COLLINS (for herself, Mr. Kennedy, Ms. Murkowski, and
Ms. Landrieu) submitted an amendment intended to be proposed by her to
the concurrent resolution S. Con. Res. 95, setting forth the
congressional budget for the United States Government for fiscal year
2005 and including the appropriate budgetary levels for fiscal years
2006 through 2009; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC.   . GOOD NEWS RESERVE FUND FOR EDUCATION.

(a) Adjustment.--(1) The Chairman of the Committee on the
Budget of the Senate shall revise the aggregates, functional
totals, allocations to the Committee on Appropriations of the
Senate, discretionary spending limits, and other appropriate
levels and limits in this resolution by an amount not to
exceed 20 percent of good news funds defined in paragraph (2)
for a bill, joint resolution, motion, amendment, or
conference report that provides discretionary new budget
authority for fiscal year 2005 in excess of the levels
assumed in this resolution for education programs within
functional category 500, and for the outlays flowing
therefrom.
(2) Good news definition.--The term ``good news funds''
means the amount (if any) by which the estimated level of on-
budget revenues for fiscal year 2005 set forth in the report
submitted pursuant to section 202(e) of the Congressional
Budget Act of 1974 (2 U.S.C. 602(e)) (the budget and economic
outlook: update) exceeds such estimated level set forth in
the Congressional Budget Office's budget and economic outlook
for fiscal year 2005 issued in January of 2004, adjusted for
the enactment of any legislation affecting revenues for
fiscal year 2005 after the adoption of this resolution.
(b) Limitations.--Adjustments under subsection (a) shall
not exceed $10,000,000,000 of on-budget Federal revenues for
fiscal year 2005.

____________________