S.Amdt. 3270

SA 3270. 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 1798, between lines 21 and 22, insert the
following:

SEC. 6608. PERMISSIVE EXCLUSION AUTHORITY.

Clauses (i) and (ii) of section 1128(b)(15)(A) of the
Social Security Act (42 U.S.C. 1320a-7(b)(15)(A)) are amended
to read as follows:
``(i) who has or had a direct or indirect ownership or
control interest in the sanctioned entity and who knew or
should have known (as defined in section 1128A(i)(7)) of the
action constituting the basis for the conviction or exclusion
described in subparagraph (B); or
``(ii) who is or was an officer or managing employee (as
defined in section 1126(b)) of such an entity at the time of
the action constituting the basis for the conviction or
exclusion so described.''.
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