S.Amdt. 2845

SA 2845. Mr. SANDERS (for himself and Mr. Wyden) submitted an
amendment intended to be proposed to amendment SA 2786 proposed by Mr.
Reid (for himself, Mr. Baucus, Mr. Dodd, and Mr. Harkin) to the bill
H.R. 3590, to amend the Internal Revenue Code of 1986 to modify the
first-time homebuyers credit in the case of members of the Armed Forces
and certain other Federal employees, and for other purposes; which was
ordered to lie on the table; as follows:

On page 212, line 18, strike ``2017'' and insert ``2014''.
On page 214, line 12, insert ``, except that the Secretary
shall determine such amount on the basis of reasonable
estimates until such time as data regarding the experiences
of other States become available and if such estimates are
determined to be incorrect on the basis of such data, the
Secretary shall adjust subsequent payments to correct errors
in earlier payments that were based on such estimates'' after
``States''.
On page 219, strike lines 12 through 20, and insert:
(e) Term of Waiver.--
(1) In general.--No waiver under this section may extend
over a period of longer than 5 years unless the State
requests continuation of such waiver and such request is
granted by the Secretary under paragraph (2).
(2) Approval of request.--A request under paragraph (1)
shall be deemed granted unless the Secretary, within 90 days
after the date of its submission to the Secretary, either
denies such request in writing or informs the State in
writing with respect to any additional information which is
needed in order to make a final determination with respect to
the request. The Secretary may deny such a request only if
the Secretary--
(A) determines that the State plan under the waiver to be
continued did not meet the requirements under subsection (b);
(B) notifies the State in writing of the requirements under
subsection (b) that the State plan did not meet and provides
to the State the information used by the Secretary in making
that determination; and
(C) provides the State with an opportunity to appeal such
determination and provide information as to how such
requirements were met.

The Secretary shall consider any information provided under
subparagraph (C) and reconsider its determination under
subparagraph (A). The Secretary shall grant the request if
the Secretary determines upon reconsideration that the State
plan met such requirements.
______