S.Amdt. 4437

SA 4437. Mr. SMITH (for himself, Mr. Kohl, Ms. Murkowski, Mr.
Stevens, Mrs. Hutchison, and Mr. Cornyn) submitted an amendment
intended to be proposed to amendment SA 4387 submitted by Mr. Dodd (for
himself and Mr. Shelby) to the bill H.R. 3221, moving the United States
toward greater energy independence and security, developing innovative
new technologies, reducing carbon emissions, creating green jobs,
protecting consumers, increasing clean renewable energy production, and
modernizing our energy infrastructure, and to amend the Internal
Revenue Code of 1986 to provide tax incentives for the production of
renewable energy and energy conservation; which was ordered to lie on
the table; as follows:

At the end of title VI, add the following:

SEC. 6__. MODIFICATIONS RELATING TO QUALIFIED VETERANS'
MORTGAGE BONDS.

(a) Increased Limitation for Certain States.--
(1) In general.--Section 143(l)(3)(B)(ii) of the Internal
Revenue Code of 1986 is amended to read as follows:
``(ii) Alaska, oregon, and wisconsin.--In the case of the
following States, the State veterans limit for any calendar
year is the amount equal to--

``(I) $100,000,000 for the State of Alaska,
``(II) $100,000,000 for the State of Oregon, and
``(III) $100,000,000 for the State of Wisconsin.''.

(2) Repeal of phasein.--Section 143(l)(3)(B) of such Code
is amended by striking clause (iii).
(b) Definition of Qualified Veteran.--Paragraph (4) of
section 143(l) of the Internal Revenue Code of 1986 is
amended to read as follows:
``(4) Qualified veteran.--For purposes of this subsection,
the term `qualified veteran' means any veteran--
``(A) who served on active duty, and
``(B) who applied for the financing before the date 25
years after the last date on which such veteran left active
service.''.
(c) Effective Date.--The amendments made by this section
shall apply to bonds issued after December 31, 2007.

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