S.Amdt. 3099

SA 3099. Mr. CASEY 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:

At the appropriate place in title IX, insert the following:

Subtitle __--Expansion of Adoption Credit and Adoption Assistance
Programs

SEC. _01. EXPANSION OF ADOPTION CREDIT AND ADOPTION
ASSISTANCE PROGRAMS.

(a) Increase in Dollar Limitation.--
(1) Adoption credit.--
(A) In general.--Paragraph (1) of section 23(b) of the
Internal Revenue Code of 1986 (relating to dollar limitation)
is amended by striking ``$10,000'' and inserting ``$15,000''.
(B) Child with special needs.--Paragraph (3) of section
23(a) of such Code (relating to $10,000 credit for adoption
of child with special needs regardless of expenses) is
amended--
(i) in the text by striking ``$10,000'' and inserting
``$15,000'', and
(ii) in the heading by striking ``$10,000'' and inserting
``$15,000''.
(C) Conforming amendment to inflation adjustment.--
Subsection (h) of section 23 of such Code (relating to
adjustments for inflation) is amended to read as follows:
``(h) Adjustments for Inflation.--
``(1) Dollar limitations.--In the case of a taxable year
beginning after December 31, 2009, each of the dollar amounts
in subsections (a)(3) and (b)(1) shall be increased by an
amount equal to--
``(A) such dollar amount, multiplied by
``(B) the cost-of-living adjustment determined under
section 1(f)(3) for the calendar year in which the taxable
year begins, determined by substituting `calendar year 2008'
for `calendar year 1992' in subparagraph (B) thereof.

If any amount as increased under the preceding sentence is
not a multiple of $10, such amount shall be rounded to the
nearest multiple of $10.

[[Page S12827]]

``(2) Income limitation.--In the case of a taxable year
beginning after December 31, 2002, the dollar amount in
subsection (b)(2)(A)(i) shall be increased by an amount equal
to--
``(A) such dollar amount, multiplied by
``(B) the cost-of-living adjustment determined under
section 1(f)(3) for the calendar year in which the taxable
year begins, determined by substituting `calendar year 2001'
for `calendar year 1992' in subparagraph (B) thereof.

If any amount as increased under the preceding sentence is
not a multiple of $10, such amount shall be rounded to the
nearest multiple of $10.''.
(2) Adoption assistance programs.--
(A) In general.--Paragraph (1) of section 137(b) of the
Internal Revenue Code of 1986 (relating to dollar limitation)
is amended by striking ``$10,000'' and inserting ``$15,000''.
(B) Child with special needs.--Paragraph (2) of section
137(a) of such Code (relating to $10,000 exclusion for
adoption of child with special needs regardless of expenses)
is amended--
(i) in the text by striking ``$10,000'' and inserting
``$15,000'', and
(ii) in the heading by striking ``$10,000'' and inserting
``$15,000''.
(C) Conforming amendment to inflation adjustment.--
Subsection (f) of section 137 of such Code (relating to
adjustments for inflation) is amended to read as follows:
``(f) Adjustments for Inflation.--
``(1) Dollar limitations.--In the case of a taxable year
beginning after December 31, 2009, each of the dollar amounts
in subsections (a)(2) and (b)(1) shall be increased by an
amount equal to--
``(A) such dollar amount, multiplied by
``(B) the cost-of-living adjustment determined under
section 1(f)(3) for the calendar year in which the taxable
year begins, determined by substituting `calendar year 2008'
for `calendar year 1992' in subparagraph (B) thereof.

If any amount as increased under the preceding sentence is
not a multiple of $10, such amount shall be rounded to the
nearest multiple of $10.
``(2) Income limitation.--In the case of a taxable year
beginning after December 31, 2002, the dollar amount in
subsection (b)(2)(A) shall be increased by an amount equal
to--
``(A) such dollar amount, multiplied by
``(B) the cost-of-living adjustment determined under
section 1(f)(3) for the calendar year in which the taxable
year begins, determined by substituting `calendar year 2001'
for `calendar year 1992' in subparagraph thereof.

If any amount as increased under the preceding sentence is
not a multiple of $10, such amount shall be rounded to the
nearest multiple of $10.''.
(b) Credit Made Refundable.--
(1) Credit moved to subpart relating to refundable
credits.--The Internal Revenue Code of 1986 is amended--
(A) by redesignating section 23, as amended by subsection
(a), as section 36B, and
(B) by moving section 36B (as so redesignated) from subpart
A of part IV of subchapter A of chapter 1 to the location
immediately before section 37 in subpart C of part IV of
subchapter A of chapter 1.
(2) Conforming amendments.--
(A) Section 24(b)(3)(B) of such Code is amended by striking
``23,''.
(B) Section 25(e)(1)(C) of such Code is amended by striking
``23,'' both places it appears.
(C) Section 25A(i)(5)(B) of such Code is amended by
striking ``23, 25D,'' and inserting ``25D''.
(D) Section 25B(g)(2) of such Code is amended by striking
``23,''.
(E) Section 26(a)(1) of such Code is amended by striking
``23,''.
(F) Section 30(c)(2)(B)(ii) of such Code is amended by
striking ``23, 25D,'' and inserting ``25D''.
(G) Section 30B(g)(2)(B)(ii) of such Code is amended by
striking ``23,''.
(H) Section 30D(c)(2)(B)(ii) of such Code is amended by
striking ``sections 23 and'' and inserting ``section''.
(I) Section 36B of such Code, as so redesignated, is
amended--
(i) by striking paragraph (4) of subsection (b), and
(ii) by striking subsection (c).
(J) Section 137 of such Code is amended--
(i) by striking ``section 23(d)'' in subsection (d) and
inserting ``section 36B(d)'', and
(ii) by striking ``section 23'' in subsection (e) and
inserting ``section 36B''.
(K) Section 904(i) of such Code is amended by striking
``23,''.
(L) Section 1016(a)(26) is amended by striking ``23(g)''
and inserting ``36B(g)''.
(M) Section 1400C(d) of such Code is amended by striking
``23,''.
(N) The table of sections for subpart A of part IV of
subchapter A of chapter 1 of such Code of 1986 is amended by
striking the item relating to section 23.
(O) Paragraph (2) of section 1324(b) of title 31, United
States Code, is amended by inserting ``36B,'' after ``36A,''.
(P) The table of sections for subpart C of part IV of
subchapter A of chapter 1 of the Internal Revenue Code of
1986 is amended by inserting after the item relating to
section 36A the following new item:

``Sec. 36B. Adoption expenses.''.

(c) Extension of Credit and Adoption Assistance Programs.--
(1) In general.--Section 36B of the Internal Revenue Code
of 1986, as redesignated by subsection (b), is amended by
adding at the end the following new subsection:
``(i) Termination.--This section shall not apply to
expenses paid or incurred in taxable years beginning after
December 31, 2019.''.
(2) In general.--Section 137 of the Internal Revenue Code
of 1986 is amended by adding at the end the following new
subsection:
``(g) Termination.--This section shall not apply to
expenses paid or incurred in taxable years beginning after
December 31, 2019.''.
(3) Sunset for modifications made by egtrra to adoption
credit removed.--Title IX of the Economic Growth and Tax
Relief Reconciliation Act of 2001 shall not apply to the
amendments made by section 202 of such Act.
(d) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2009.
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