S.Amdt. 116

SA 116. Mr. CARDIN (for himself, Mr. Ensign, and Mr. Udall of
Colorado) submitted an amendment intended to be proposed to amendment
SA 98 proposed by Mr. Inouye (for himself and Mr. Baucus) to the bill
H.R. 1, making supplemental appropriations for job preservation and
creation, infrastructure investment, energy efficiency and science,
assistance to the unemployed, and State and local fiscal stabilization,
for fiscal year ending September 30, 2009, and for other purposes;
which was ordered to lie on the table; as follows:

Strike subsections (a) and (b) of section 1006 of division
B and insert the following:
(a) Extension.--
(1) In general.--Section 36(h) is amended by striking
``July 1, 2009'' and inserting ``January 1, 2010''.
(2) Conforming amendment.--Section 36(g) is amended by
striking ``July 1, 2009'' and inserting ``January 1, 2010''.
(b) Waiver of Recapture.--
(1) In general.--Paragraph (4) of section 36(f) is amended
by adding at the end the following new subparagraph:
``(D) Waiver of recapture for purchases in 2009.--In the
case of any credit allowed with respect to the purchase of a
principal residence after December 31, 2008, and before
January 1, 2010--
``(i) paragraph (1) shall not apply, and
``(ii) paragraph (2) shall apply only if the disposition or
cessation described in paragraph (2) with respect to such
residence occurs during the 36-month period beginning on the
date of the purchase of such residence by the taxpayer.''.
(2) Conforming amendment.--Subsection (g) of section 36 is
amended by striking ``subsection (c)'' and inserting
``subsections (c) and (f)(4)(D)''.
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