S.Amdt. 2880

SA 2880. Mr. MARTINEZ (for himself, Mr. Allen, Mr. Roberts, and Mr. Burr) submitted an amendment intended to be proposed to amendment SA 2746 proposed by Mr. Frist (for Mr. Specter (for himself and Mr. Leahy)) to the bill S. 852, to create a fair and efficient system to resolve claims of victims for bodily injury caused by asbestos exposure, and for other purposes; which was ordered to lie on the table; as follows:

On page 155, line 17, strike all through page 115, line 8, and insert the following:

(A) In general.--For purposes of this section, revenues shall be determined in accordance with generally accepted accounting principles, consistently applied, using the amount reported as revenues in the annual report filed with the Securities and Exchange Commission in accordance with the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) for the most recent fiscal year ending on or before December 31, 2002. If the defendant participant or affiliated group does not file reports with the Securities and Exchange Commission, revenues shall be the amount previously reported as revenues or that would have been reported as revenues, and determined in accordance with generally accepted accounting principles, for the most recent fiscal year ending on or before December 31, 2002.