S.Amdt. 2874

SA 2874. Mr. THOMAS 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. 3__. SODA ASH ROYALTIES.

Section 24 of the Mineral Leasing Act (30 U.S.C. 262) is amended--

(1) by striking “Sec. 24. That upon” and inserting the following:

“SEC. 24. LEASES.

“(a) In General.--Upon”; and

(2) by adding at the end the following:

“(b) Soda Ash Royalties.--Notwithstanding subsection (a), during the 5-year period beginning on the date of enactment of this subsection, the royalty rate applicable to any soda ash lease entered into under subsection (a) before, on, or after the date of enactment of this subsection shall be 2 percent.”.