S.Amdt. 3177

SA 3177. 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 336, between lines 16 and 17, insert the following:
``(6) College students.--
``(A) In general.--Any applicable individual for any month
which occurs within an academic period during which the
individual is a student (whether full-time or part-time) who
meets the requirements of section 484(a)(1) of the Higher
Education Act of 1965 (20 U.S.C. 1091(a)(1)) at an
institution of higher education (including a community
college or trade school) described in such section. For
purposes of the preceding sentence, any month between 2
consecutive academic periods shall be treated as occurring
during an academic period.
``(B) Use of increased federal funds.--
``(i) In general.--The amount available for any calendar
year for expenditure under the reinsurance program under
section 1341 of the Patient Protection and Affordable Care
Act shall be increased by the amount the Secretary of Health
and Human Services estimates under clause (11) for the
calendar year. Notwithstanding section 1341(b)(4) of such
Act, amounts made available under this subclause for any
calendar year after 2018 may be used to make payments under
any reinsurance program of a State in the individual market
in effect during such calendar year.
``(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 subparagraph (A).
The sum of such amounts (expressed as a positive number)
shall be the amount taken into account under clause (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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