S.Amdt. 4785

SA 4785. Mr. CARDIN submitted an amendment intended to be proposed to
amendment SA 4753 proposed by Mr. Reid (for himself and Mr. McConnell)
to the bill H.R. 4853, to amend the Internal Revenue Code of 1986 to
extend the funding and expenditure authority of the Airport and Airway
Trust Fund, to amend title 49, United States Code, to extend
authorizations for the airport improvement program, and for other
purposes; which was ordered to lie on the table; as follows:

On page 41, after line 15, insert the following:
(c) Elimination of REIT Ratable Share Limitation for ARRA
Grants With Respect to Specified Energy Property.--
(1) In general.--Subsection (f) of section 1603 of the
American Recovery and Reinvestment Tax Act of 2009 is amended
by inserting after ``Code of 1986'' the following: ``, except
that subsection (d)(1) thereof shall not apply in the case of
a real estate investment trust (as defined in section 856 of
such Code)''.
(2) Effective date.--The amendment made by this section
shall apply to grants made after the date of the enactment of
this Act.
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