S.Amdt. 231

SA 231. 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 INCREASE IN TIME PERIOD FOR RECYCLING OF
TAX-EXEMPT DEBT FOR RESIDENTIAL RENTAL
PROJECTS.

(a) In General.--Section 146(i)(6)(A) is amended by
inserting ``(12-month period in the case of repayments made
before January 1, 2011)'' after ``6-month period''.
(b) Effective Date.--The amendment made by this section
shall apply to repayments of loans received before, on, or
after the date of the enactment of this Act.
______