S.Amdt. 2921

SA 2921. Mr. DORGAN 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. __. MODIFICATION OF INCOME REQUIREMENT FOR CENSUS TRACTS WITHIN HIGH MIGRATION RURAL COUNTIES.

(a) In general.--Section 45D(e) (relating to low-income community) is amended by adding at the end the following new paragraph:

“(4) Modification of income requirement for census tracts within high migration rural counties.--

“(A) In general.--In the case of a population census tract located within a high migration rural county, paragraph (1)(B)(i) shall be applied by substituting ‘85 percent' for ‘80 percent'.

“(B) High migration rural county.--For purposes of this paragraph, the term ‘high migration rural county' means any county which, during the 20-year period ending on December 31, 2000, has a net out-migration of inhabitants from the county of at least 10-percent of the population of the county at the beginning of such period.”.

(b) Effective Date.--The amendment made by this section shall take effect as if included in the amendment made by section 121(a) of the Community Renewal Tax Relief Act of 2000.