S.Amdt. 5018

SA 5018. Ms. LANDRIEU submitted an amendment intended to be proposed by her 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:

On page 27, strike lines 4 through 9, and insert the following:

“(a) Allowance of Credit.--There shall be allowed as a credit against the tax imposed by this subtitle for such taxable year an amount equal to 10 percent of the purchase price of a residence--

“(1) in the case of an individual who is a first-time homebuyer of a principal residence in the United States during a taxable year, or

“(2) in the case of an individual who--

“(A) is a homebuyer of a principal residence in the United States that is damaged or destroyed as a result of a natural disaster and that has been sold or transferred to a State or an agency or political subdivision thereof as a result of such damage or destruction, and

“(B) submits a certification by the State or by the appropriate agency or subdivision thereof that such residence meets the requirements of subparagraph (A).”.