S.Amdt. 2904

SA 2904. Ms. SNOWE 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 167, strike lines 1 through 4, and insert the
following:
(d) No Interference With State Regulatory Authority.--
(1) In general.--Except as provided in paragraph (2),
nothing in this title shall be construed to preempt any State
law that does not prevent the application of the provisions
of this title.
(2) Exception for small employer mandates.--The provisions
of, and the amendments made by, this title shall preempt any
State law enacted after the date of enactment of this Act
that would impose a requirement on any employer with less
than 50 full-time employees to, or would impose a penalty on
such an employer for failing to, offer health insurance to
its employees.
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