S.Amdt. 283

SA 283. Mr. BUNNING 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 451, between lines 13 and 14, insert the following:

SEC. ___. TEMPORARY INCREASE IN PERSONAL CAPITAL LOSS
DEDUCTION LIMITATION.

(a) In General.--Section 1211 is amended by adding at the
end the following new subsection:
``(c) Special Rule for Taxable Years Beginning in 2009.--In
the case of a taxable year beginning after December 31, 2008,
and before January 1, 2010, subsection (b)(1) shall be
applied--
``(1) by substituting `$15,000' for `$3,000', and
``(2) by substituting `$7,500' for `$1,500'.''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2008.
(c) Offset.--Notwithstanding any other provision of
division A, the amounts appropriated or made available in
division A (other than any such amount under the heading
``Department of Veterans Affairs'' in title X of division A)
shall be reduced by a percentage necessary to offset the
aggregate reduction in revenues resulting from the enactment
of the amendment made by subsection (a).
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