S.Amdt. 752

SA 752. Mr. VITTER submitted an amendment intended to be proposed by him to the concurrent resolution S. Con. Res. 13, setting forth the congressional budget for the United States Government for fiscal year 2010, revising the appropriate budgetary levels for fiscal year 2009, and setting forth the appropriate budgetary levels for fiscal years 2011 through 2014; which was ordered to lie on the table; as follows:

At the appropriate place in title II, insert the following:

SEC. __. DEFICIT-NEUTRAL RESERVE FUND FOR A NONREFUNDABLE TAX CREDIT FOR LONG-TERM CARE INSURANCE PREMIUMS.

(a) In General.--The Chairman of the Senate Committee on the Budget may revise the allocations of a committee or committees, aggregates, and other appropriate levels and limits in this resolution for one or more bills, joint resolutions, amendments, motions, or conference reports that would provide for the application of the provisions described in subsection (b), provided that such legislation would not increase the deficit over either the period of the total of fiscal years 2009 through 2014 or the period of the total of fiscal years 2009 through 2019.

(b) Provisions Described.--The provisions described in this subsection include the allowance of a nonrefundable tax credit for 50 percent of so much of the amount of long-term care insurance premiums paid by the taxpayer as does not exceed $4,000 for--

(1) any dependent beneficiary of the taxpayer, or

(2) any nondependent beneficiary whose adjusted gross income for the taxable year does not exceed 300 percent of the Federal poverty line for such taxable year.