S.Amdt. 207

SA 207. Mr. KYL 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:

On page 450, after line 22, add the following:

SEC. ___. CREDIT FOR DONATIONS FOR SCHOLARSHIPS FOR
ELEMENTARY AND SECONDARY SCHOOL STUDENTS.

(a) In General.--Subpart A of part IV of subchapter A of
chapter 1 is amended by inserting after section 25D the
following new section:

``SEC. 25E. DONATIONS FOR SCHOLARSHIPS FOR ELEMENTARY AND
SECONDARY SCHOOL STUDENTS.

``(a) In General.--There shall be allowed as a credit
against the tax imposed by this chapter for the taxable year
an amount equal to the qualified elementary and secondary
school student scholarship donations made by the taxpayer
during such taxable year.
``(b) Limitation.--The amount of the credit allowed under
this section for any taxable year shall not exceed $500.
``(c) Qualified Elementary and Secondary School Student
Scholarship Donations.--For purposes of this section, the
term `qualified elementary and secondary school student
scholarship donation' means any donation to a an organization
which--
``(1) is described in section 170(b)(1)(A)(ii) or
170(c)(2), and
``(2) provides scholarships to elementary or secondary
school students for tuition incurred in connection with the
enrollment or attendance of such student at public, private
or religious school (within the meaning of section
530(b)(3)).
``(d) No Double Benefit.--No deduction shall be allowed
under section 170 or any other provision of this chapter with
respect to any expense which is taken into account under
subsection (a).''.
(b) Clerical Amendment.--The table of contents for subpart
A of part IV of subchapter A of chapter 1 is amended by
inserting after the item related to section 25D the following
new item:

``Sec. 25E. Donations for scholarships for elementary and secondary
school students.''.

(c) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2008.
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