S.Amdt. 1981
What it does: Inserts new text wherever appropriate
Sen. Tom Coburn (R-OK)What it changes
1 change to S. 2204
Inserts new text wherever appropriate
InsertsInserted: Subtitle C_Energy Subsidies for Millionaires SEC. 221. NO RESIDENTIAL ENERGY EFFICIENT PROPERTY CREDIT FOR MILLIONAIRES AND BILLIONAIRES.
Inserted: (a) In General.--Section 25D(e) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:
Inserted: "(9) No credit for millionaires and billionaires.--No credit shall be allowed under this section for any taxable year with respect to any taxpayer with an adjusted gross income equal to or greater than $1,000,000 for such taxable year.".
Inserted: (b) Effective Date.--The amendment made by this section shall apply to taxable years beginning after December 31, 2011.
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Original wording
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As printed
SA 1981. Mr. COBURN submitted an amendment intended to be proposed by him to the bill S. 2204, to eliminate unnecessary tax subsidies and promote renewable energy and energy conservation; which was ordered to lie on the table; as follows:
At the appropriate place, insert the following:
Subtitle C_Energy Subsidies for Millionaires SEC. 221. NO RESIDENTIAL ENERGY EFFICIENT PROPERTY CREDIT FOR MILLIONAIRES AND BILLIONAIRES.
(a) In General.--Section 25D(e) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:
“(9) No credit for millionaires and billionaires.--No credit shall be allowed under this section for any taxable year with respect to any taxpayer with an adjusted gross income equal to or greater than $1,000,000 for such taxable year.”.
(b) Effective Date.--The amendment made by this section shall apply to taxable years beginning after December 31, 2011.
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Senate amendment submitted
March 28, 2012