S.Amdt. 2595
What it does: Adds SEC. __. ALLOWANCE OF SPECIAL DEDUCTION FOR CERTAIN NOT-FOR-PROFIT HEALTH INSURANCE OR HEALTH SERVICE TYPE ORGANIZATIONS FOR PURPOSES OF DETERMINING AMT at the end of title IV
Sen. Charles E. Schumer (D-NY)What it changes
1 change to S. 2020 · shown in the bill's text
Adds SEC. __. ALLOWANCE OF SPECIAL DEDUCTION FOR CERTAIN NOT-FOR-PROFIT HEALTH INSURANCE OR HEALTH SERVICE TYPE ORGANIZATIONS FOR PURPOSES OF DETERMINING AMT at the end of title IV
Adds a sectionIn S. 2020 · Placed on Calendar Senate
(d) Effective Date.--The amendments made by this section shall apply to amounts paid or accrued during the period beginning after December 31, 2006, and before January 1, 2008, and properly allocable to such period, with respect to mortgage insurance contracts issued after December 31, 2006.
Inserted: SEC. __. ALLOWANCE OF SPECIAL DEDUCTION FOR CERTAIN NOT-FOR-PROFIT HEALTH INSURANCE OR HEALTH SERVICE TYPE ORGANIZATIONS FOR PURPOSES OF DETERMINING AMT.
Inserted: (a) In General.--Paragraph (3) of section 56(c) (relating to adjustments applicable to organizations) is amended--
Inserted: (1) by striking "The deduction" and inserting the following:
Inserted: "(A) In general.--Except as provided in subparagraph (B), the deduction"; and
Inserted: (2) by adding at the end the following:
Inserted: "(B) Exception for certain not-for profit health insurance or health service type organizations.--Subparagraph (A) shall not apply to an organization described in subparagraph (B) of section 833(c)(4).".
Inserted: (b) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 2005.
Original wording
At the end of title IV, add the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 2595. Mr. SCHUMER (for himself, Mrs. Clinton, Mr. Smith, and Mr. Wyden) submitted an amendment intended to be proposed by him to the bill S. 2020, to provide for reconciliation pursuant to section 202(b) of the concurrent resolution on the budget for fiscal year 2006; which was ordered to lie on the table; as follows:
At the end of title IV, add the following:
SEC. __. ALLOWANCE OF SPECIAL DEDUCTION FOR CERTAIN NOT-FOR-PROFIT HEALTH INSURANCE OR HEALTH SERVICE TYPE ORGANIZATIONS FOR PURPOSES OF DETERMINING AMT.
(a) In General.--Paragraph (3) of section 56(c) (relating to adjustments applicable to organizations) is amended--
(1) by striking “The deduction” and inserting the following:
“(A) In general.--Except as provided in subparagraph (B), the deduction”; and
(2) by adding at the end the following:
“(B) Exception for certain not-for profit health insurance or health service type organizations.--Subparagraph (A) shall not apply to an organization described in subparagraph (B) of section 833(c)(4).”.
(b) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 2005.
Legislative Activity
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Senate amendment submitted
November 16, 2005