S.Amdt. 583
What it does: 2 changes: adds a section, replaces text
Sen. Jeff Bingaman (D-NM)What it changes
2 changes to S. 1054
Change 1: Adds SEC. ____. INFLATION ADJUSTMENT FOR ELDERLY AND DISABLED CREDIT DOLLAR AMOUNTS on page 281, between lines 2 and 3
Adds a sectionPrinted pageInserted: SEC. ____. INFLATION ADJUSTMENT FOR ELDERLY AND DISABLED CREDIT DOLLAR AMOUNTS.
Inserted: (a) In General.--Section 22 (relating to credit for the elderly and the permanently disabled) is amended by adding at the end the following new subsection:
Inserted: "(g) Inflation Adjustment.--
Inserted: "(1) In general.--In the case of any taxable year beginning after 2002, each of the dollar amounts contained in subsections (c) and (d) shall be increased by an amount equal to--
Inserted: "(i) such dollar amount, multiplied by
Inserted: "(ii) the cost-of-living adjustment determined under section 1(f)(3) for such calendar year, by substituting '1983' for '1992' in subparagraph (B) thereof.
Inserted: "(B) Rounding.--If any increase determined under subparagraph (A) is not a multiple of $50, such increase shall be rounded to the nearest multiple of $50.".
Inserted: (b) Effective Date.--The amendment made by this section shall apply to taxable years beginning after December 31, 2002.
Original wording
On page 281, between lines 2 and 3, insert the following:
Change 2: Replaces “in the case of taxable years beginning after 2007” with “in the case of qualified dividend income received after June 30, 2008”
[struck: in the case of taxable years beginning after 2007][inserted: in the case of qualified dividend income received after June 30, 2008]Original wording
On page 19, line 12, strike “in the case of taxable years beginning after 2007” and insert “in the case of qualified dividend income received after June 30, 2008”.
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 583. Mr. BINGAMAN submitted an amendment intended to be proposed by him to the bill S. 1054, to provide for reconciliation pursuant to section 201 of the concurrent resolution on the budget for fiscal year 2004; which was ordered to lie on the table; as follows:
On page 281, between lines 2 and 3, insert the following:
SEC. ____. INFLATION ADJUSTMENT FOR ELDERLY AND DISABLED CREDIT DOLLAR AMOUNTS.
(a) In General.--Section 22 (relating to credit for the elderly and the permanently disabled) is amended by adding at the end the following new subsection:
“(g) Inflation Adjustment.--
“(1) In general.--In the case of any taxable year beginning after 2002, each of the dollar amounts contained in subsections (c) and (d) shall be increased by an amount equal to--
“(i) such dollar amount, multiplied by
“(ii) the cost-of-living adjustment determined under section 1(f)(3) for such calendar year, by substituting ‘1983' for ‘1992' in subparagraph (B) thereof.
“(B) Rounding.--If any increase determined under subparagraph (A) is not a multiple of $50, such increase shall be rounded to the nearest multiple of $50.”.
(b) Effective Date.--The amendment made by this section shall apply to taxable years beginning after December 31, 2002.
On page 19, line 12, strike “in the case of taxable years beginning after 2007” and insert “in the case of qualified dividend income received after June 30, 2008”.
Legislative Activity
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Senate amendment submitted
May 14, 2003