S.Amdt. 230

SA 230. Mr. SCHUMER 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 570, between lines 8 and 9, insert the following:

SEC. ____. TEMPORARY MINIMUM CREDIT RATE FOR CERTAIN
FEDERALLY SUBSIDIZED NEW BUILDINGS.

(a) In General.--Section 42(b) is amended by redesignating
paragraph (3) as paragraph (4) and by inserting after
paragraph (2) the following new paragraph:
``(3) Temporary minimum credit rate for certain federally
subsidized new buildings.--In the case of any new building--
``(A) which is placed in service by the taxpayer after the
date of the enactment of this paragraph and before December
31, 2013, and
``(B) which is federally subsidized for the taxable year,

the applicable percentage shall not be less than 4
percent.''.
(b) Effective Date.--The amendments made by this section
shall apply to buildings placed in service after the date of
the enactment of this Act.
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