S.Amdt. 3173

SA 3173. Mr. MERKLEY (for himself and Mr. Franken) 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 354, between lines 2 and 3, insert the following:
(D) Application to construction industry employers.--In the
case of any employer the substantial annual gross receipts of
which are attributable to the construction industry--

[[Page S13042]]

(i) subparagraph (A) shall be applied by substituting ``who
employed an average of at least 5 full-time employees on
business days during the preceeding calendar year or whose
annual payroll expenses exceed $250,000 for such preceeding
calendar year'' for ``who employed an average of at least 50
full-time employees on business days during the preceeding
calendar year'', and
(ii) subparagraph (B) shall be applied by substituting
``5'' for ``50''.
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