To provide a deficit neutral reserve fund for the Hope credit.

1. Adds SEC. ___. RESERVE FOR FUNDING OF HOPE CREDIT on page 40, line 8

   Adds a sectionPrinted page

   Inserted: SEC. ___. RESERVE FOR FUNDING OF HOPE CREDIT.

   Inserted: If the Committee on Finance of the Senate reports a bill or joint resolution, or an amendment thereto is offered or a conference report thereon is submitted, that increases the Hope credit to $4,000 and makes the credit available for 4 years, the chairman of the Committee on the Budget may revise committee allocations for the Committee on Finance and other appropriate budgetary aggregates and allocations of new budget authority and outlays by the amount provided by that measure for that purpose, if that measure includes offsets including legislation closing corporate tax loopholes and would not increase the deficit for fiscal year 2006 and for the period of fiscal years 2006 though 2010.

   Original wording

   On page 40, after line 8 insert the following:

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As printed