S.Amdt. 3140

SA 3140. Mrs. HUTCHISON 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

[[Page S12937]]

other Federal employees, and for other purposes; which was ordered to
lie on the table; as follows:

On page 339, between lines 16 and 17, insert the following:
``(g) Limitation.--
``(1) In general.--This section shall not apply to any
individual residing in a State where the Secretary makes the
determination described in paragraph (2) for a taxable year.
``(2) Determination.--A determination described in this
paragraph is a determination that the average cost of
premiums for health insurance coverage within the State for
the year involved has increase by a percentage that is
greater than the percentage increase in the Consumer Price
Index for the year.''.
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