S.Amdt. 2643
What it does: Adds SEC. 104. HOUSING RELIEF FOR INDIVIDUALS AFFECTED BY HURRICANE KATRINA on page 35, between lines 16 and 17
Sen. Mary L. Landrieu (D-LA)What it changes
1 change to S. 2020
Adds SEC. 104. HOUSING RELIEF FOR INDIVIDUALS AFFECTED BY HURRICANE KATRINA on page 35, between lines 16 and 17
Adds a sectionPrinted pageInserted: SEC. 104. HOUSING RELIEF FOR INDIVIDUALS AFFECTED BY HURRICANE KATRINA.
Inserted: (a) Exclusion of Employer Provided Housing for Individual Affected by Hurricane Katrina.--
Inserted: (1) In general.--For purposes of the Internal Revenue Code of 1986, gross income of a qualified employee shall not include the value of any lodging furnished to such employee, such employee's spouse, or any of such employee's dependents by or on behalf of a qualified employer for any month during the taxable year.
Inserted: (2) Limitation.--The amount which may be excluded under subsection (a) for any month for which lodging is furnished during the taxable year shall not exceed $1,000.
Inserted: (3) Treatment of exclusion.--For purposes of the Internal Revenue Code of 1986, an exclusion under subsection (a) shall be treated as an exclusion under section 119 of such Code.
Inserted: (b) Employer Credit for Housing Employees Affected by Hurricane Katrina.--
Inserted: (1) In general.--In the case of a qualified employer, there shall be allowed as a credit against the tax imposed by chapter 1 of the Internal Revenue Code of 1986 for any month during the taxable year an amount equal to 30 percent of any amount which is excludable from the gross income of a qualified employee of such employer under subsection (a).
Inserted: (2) Certain rules to apply.--For purposes of this section, rules similar to the rules of section 280C(a) of such Code shall apply.
Inserted: (3) Credit to be part of general business credit.--The credit allowed under this section shall be added to the current year business credit under section 38(b) of such Code and shall be treated as a credit allowed under subpart D of part IV of subchapter A of such Code.
Inserted: (c) Qualified Employee.--For purposes of this section, the term "qualified employee" means, with respect to any month, an individual--
Inserted: (1) who had a principal residence (as defined in section 121 of the Internal Revenue Code of 1986) in the Hurricane Katrina disaster area (as defined in section 1400N(2) of such Code) on August 28, 2005, and
Inserted: (2) who performs not less than 80 percent of the employment services for a qualified employer in the Hurricane Katrina disaster area (as so defined).
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Inserted: (d) Qualified Employer.--For purposes of this section, the term "qualified employer" means any employer with a trade or business located in the Hurricane Katrina disaster area (as so defined).
Inserted: (e) Application of Section.--This section shall apply to lodging provided--
Inserted: (1) after the date of the enactment of this Act, and
Inserted: (2) before the date which is 1 year after the date of the enactment of this Act.
Inserted: SEC. 105. HOMELESSNESS PREVENTION.
Inserted: Notwithstanding any other provision of law, the Director of the Federal Emergency Management Agency (referred to in this section as the "Director") shall not cease to make payments for hotel or motel accommodations, or for other short-term temporary housing, on behalf of a victim of Hurricane Katrina or Hurricane Rita who was being assisted in that manner as of November 14, 2005 (referred to in this section as an "eligible victim"), until such time as the Director determines that--
Inserted: (1) the eligible victim has located a habitable home;
Inserted: (2) the Director has provided financial assistance to the eligible victim for use in relocating to that home, and the eligible victim has so relocated; and
Inserted: (3) the eligible victim is able to afford the rent for that home, either with resources of the eligible victim or through the use of assistance payments from the Director (and, in the case of a victim who can afford that home only through the use of those assistance payments, that the Director has provided the assistance payments for a period of at least 90 days).
Inserted: SEC. 106. SENSE OF THE SENATE.
Inserted: It is the sense of the Senate that Congress should develop and provide funding for solutions necessary to address the lack of supply of affordable housing in areas devastated by Hurricane Katrina and Hurricane Rita.
Original wording
On page 35, between lines 16 and 17, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 2643. Ms. LANDRIEU submitted an amendment intended to be proposed by her 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:
On page 35, between lines 16 and 17, insert the following:
SEC. 104. HOUSING RELIEF FOR INDIVIDUALS AFFECTED BY HURRICANE KATRINA.
(a) Exclusion of Employer Provided Housing for Individual Affected by Hurricane Katrina.--
(1) In general.--For purposes of the Internal Revenue Code of 1986, gross income of a qualified employee shall not include the value of any lodging furnished to such employee, such employee's spouse, or any of such employee's dependents by or on behalf of a qualified employer for any month during the taxable year.
(2) Limitation.--The amount which may be excluded under subsection (a) for any month for which lodging is furnished during the taxable year shall not exceed $1,000.
(3) Treatment of exclusion.--For purposes of the Internal Revenue Code of 1986, an exclusion under subsection (a) shall be treated as an exclusion under section 119 of such Code.
(b) Employer Credit for Housing Employees Affected by Hurricane Katrina.--
(1) In general.--In the case of a qualified employer, there shall be allowed as a credit against the tax imposed by chapter 1 of the Internal Revenue Code of 1986 for any month during the taxable year an amount equal to 30 percent of any amount which is excludable from the gross income of a qualified employee of such employer under subsection (a).
(2) Certain rules to apply.--For purposes of this section, rules similar to the rules of section 280C(a) of such Code shall apply.
(3) Credit to be part of general business credit.--The credit allowed under this section shall be added to the current year business credit under section 38(b) of such Code and shall be treated as a credit allowed under subpart D of part IV of subchapter A of such Code.
(c) Qualified Employee.--For purposes of this section, the term “qualified employee” means, with respect to any month, an individual--
(1) who had a principal residence (as defined in section 121 of the Internal Revenue Code of 1986) in the Hurricane Katrina disaster area (as defined in section 1400N(2) of such Code) on August 28, 2005, and
(2) who performs not less than 80 percent of the employment services for a qualified employer in the Hurricane Katrina disaster area (as so defined).
(d) Qualified Employer.--For purposes of this section, the term “qualified employer” means any employer with a trade or business located in the Hurricane Katrina disaster area (as so defined).
(e) Application of Section.--This section shall apply to lodging provided--
(1) after the date of the enactment of this Act, and
(2) before the date which is 1 year after the date of the enactment of this Act.
SEC. 105. HOMELESSNESS PREVENTION.
Notwithstanding any other provision of law, the Director of the Federal Emergency Management Agency (referred to in this section as the “Director”) shall not cease to make payments for hotel or motel accommodations, or for other short-term temporary housing, on behalf of a victim of Hurricane Katrina or Hurricane Rita who was being assisted in that manner as of November 14, 2005 (referred to in this section as an “eligible victim”), until such time as the Director determines that--
(1) the eligible victim has located a habitable home;
(2) the Director has provided financial assistance to the eligible victim for use in relocating to that home, and the eligible victim has so relocated; and
(3) the eligible victim is able to afford the rent for that home, either with resources of the eligible victim or through the use of assistance payments from the Director (and, in the case of a victim who can afford that home only through the use of those assistance payments, that the Director has provided the assistance payments for a period of at least 90 days).
SEC. 106. SENSE OF THE SENATE.
It is the sense of the Senate that Congress should develop and provide funding for solutions necessary to address the lack of supply of affordable housing in areas devastated by Hurricane Katrina and Hurricane Rita.
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Senate amendment submitted
November 17, 2005