S.Amdt. 566

1. 1

   Change 1: Replaces “10 percent (20 percent in the case of taxable years beginning after 2007)” with “5 percent”

   ReplacesPage 19, between lines 12 and 13Printed page

   In S. 1054 · Placed on Calendar Senate

   "(2) Limitation.--Paragraph (1) shall apply to qualified dividend income of a taxpayer only to the extent such income does not exceed the sum of--

   "(A) $500 ($250 in the case of a married individual filing a separate return), plus "(B) [struck: 10][inserted: 5] percent [struck: (20 percent in the case ]of [struck: taxable years beginning after 2007) of ]such income in excess of the amount applicable under subparagraph (A).

   "(b) Qualified Dividend Income.--For purposes of this subsection--

   Original wording

   On page 19, between lines 12 and 13, strike “10 percent (20 percent in the case of taxable years beginning after 2007)” and insert “5 percent”.

2. 2

   Change 2: Rewrites page 26, lines 17–22

   ReplacesPrinted page

   Removes page 26, lines 17–22 of the printed bill. See that page

   Inserted: (4) Section 531(a) is amended by inserting "95 percent of" after "equal to".

   Inserted: (5) Section 541(a) is amended by inserting "95 percent of" after "equal to".

   Original wording

   On page 26, strike lines 17 through 22, and insert:

3. 3

   Change 3: Strikes section 350

   Strikes

   In S. 1054 · Placed on Calendar Senate

   Struck: SEC. 350. REPEAL OF EARNED INCOME EXCLUSION OF CITIZENS OR RESIDENTS LIVING ABROAD.

   Struck: (a) Repeal.--Section 911 (relating to citizens or residents living abroad) is amended by adding at the end the following new subsection:

   Struck: "(g) Termination.--This section shall not apply to any taxable year beginning after December 31, 2003.".

   Struck: (b) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 2003.

   Original wording

   Strike section 350.

Read automatically from the Congressional Record. Check the original before relying on it.

As printed