S.Amdt. 399

SA 399. Ms. STABENOW (for himself and Mr. Levin) submitted an
amendment intended to be proposed to amendment SA 98 proposed by Mr.
Inouye (for himself and Mr. Baucus) to the bill H.R. 1, making
supplemental appropriations for job preservation and creation,
infrastructure investment, energy efficiency and science, assistance to
the unemployed, and State and local fiscal stabilization, for fiscal
year ending September 30, 2009, and for other purposes; which was
ordered to lie on the table; as follows:

On page 514, after line 16, insert the following:

PART X--TREATMENT OF LIMITATIONS ON LOSSES AFTER CERTAIN OWNERSHIP
CHANGES

SEC. 1291. TREATMENT OF CERTAIN OWNERSHIP CHANGES FOR
PURPOSES OF LIMITATIONS ON NET OPERATING LOSS
CARRYFORWARDS AND CERTAIN BUILT-IN LOSSES.

(a) In General.--Section 382 is amended by adding at the
end the following new subsection:
``(n) Special Rule for Certain Ownership Changes.--
Subsection (a) shall not apply in the case of an ownership
change pursuant to a restructuring plan required under a loan
agreement or a commitment for a line of credit entered into
with the Department of the Treasury.''.
(b) Effective Date.--The amendment made by this section
shall apply to ownership changes after the date of the
enactment of this Act.
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