S.Amdt. 603

SA 603. 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 22, between lines 21 and 22, insert the following:

“(7) Small business retirement plans.--For purposes of small business plans, defined as any qualified plan maintained by an employer with fewer than 25 employees, the cost basis for the employees' retirement plan accounts would be adjusted by the amount of dividends received by the underlying investments in the account that would otherwise be excluded from taxable income if held individually.”