To provide grants for energy efficient appliances in lieu of tax credits.

SA 3416. Mrs. LINCOLN (for herself and Mr. Voinovich) submitted an
amendment intended to be proposed to amendment SA 3336 proposed by Mr.
Baucus to the bill 4213, to amend the Internal Revenue Code of 1986 to
extend certain expiring provisions, and for other purposes; which was
ordered to lie on the table; as follows:

On page 268, between lines 11 and 12, insert the following:

SEC. __. GRANTS FOR ENERGY EFFICIENT APPLIANCES IN LIEU OF
TAX CREDIT.

In the case of any taxable year which includes the last day
of calendar year 2009 or calendar year 2010, a taxpayer who
elects to waive the credit which would otherwise be
determined with respect to the taxpayer under section 45M of
the Internal Revenue Code of 1986 for such taxable year shall
be treated as making a payment against the tax imposed under
subtitle A of such Code for such taxable year in an amount
equal to 85 percent of the amount of the credit which would
otherwise be so determined. Such payment shall be treated as
made on the later of the due date of the return of such tax
or the date on which such return is filed. Elections under
this section may be made separately for 2009 and 2010, but
once made shall be irrevocable.
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