S.Amdt. 3176

SA 3176. Mr. GRASSLEY 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 334, between lines 18 and 19, insert the following:
``(E) Special rule for individuals between the ages of 55
and 64.--
``(i) In general.--In the case of an applicable individual
who has attained the age of 55 but has not attained the age
of 65 before the beginning of a calendar year, this paragraph
shall be applied to such individual for months during such
calendar year by substituting `5 percent' for `8 percent' in
subparagraphs (A) and (D).
``(ii) Use of increased federal funds.--

``(I) In general.--The amount available for any calendar
year for expenditure under the early retiree reinsurance
program under section 1102 of the Patient Protection and
Affordable Care Act shall be increased by the amount the
Secretary of Health and Human Services estimates under
subclause (II) for the calendar year. Notwithstanding section
1102(a)(1) of such Act, amounts made available under this
subclause for any calendar year after 2014 may be used to
make payments under such reinsurance program.
``(II) Estimates.--The Secretary of Health and Human
Services, in consultation with the Secretary, shall estimate
for each calendar year after 2013 the net increase (if any)
in Federal revenues, and the net decrease (if any) in Federal
outlays, by reason of the application of clause (i). The sum
of such amounts (expressed as a positive number)

[[Page S13043]]

shall be the amount taken into account under subclause (I).
The Secretary shall adjust the estimate for any calendar year
to correct any errors in an estimate for any preceding
calendar year.

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