S.Amdt. 3179

SA 3179. 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 under age 30.--
``(i) In general.--In the case of an applicable individual
who has not attained age 30 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 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 subclause (II) 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 clause (i). The sum
of such amounts (expressed as a positive number) 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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