S.Amdt. 4114
What it does: Inserts new text on page 10, between lines 19 and 20
Sen. Tom Coburn (R-OK)What it changes
1 change to H.R. 5771
Inserts new text on page 10, between lines 19 and 20
InsertsPrinted pageInserted: (c) Prohibition on Combining the New Market Tax Credit With Other Sources of Federal Funding.--Section 45D is amended by adding at the end the following new subsection:
Inserted: "(j) Prohibition.--A qualified community development entity shall not use any equity leveraged through the new markets tax credit under this section on any project that is benefitting from the rehabilitation credit for certified historic structures under section 47.".
Original wording
On page 10, between lines 19 and 20, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 4114. Mr. COBURN submitted an amendment intended to be proposed by him to the bill H.R. 5771, to amend the Internal Revenue Code of 1986 to extend certain expiring provisions and make technical corrections, to amend the Internal Revenue Code of 1986 to provide for the tax treatment of ABLE accounts established under State programs for the care of family members with disabilities, and for other purposes; which was ordered to lie on the table; as follows:
On page 10, between lines 19 and 20, insert the following:
(c) Prohibition on Combining the New Market Tax Credit With Other Sources of Federal Funding.--Section 45D is amended by adding at the end the following new subsection:
“(j) Prohibition.--A qualified community development entity shall not use any equity leveraged through the new markets tax credit under this section on any project that is benefitting from the rehabilitation credit for certified historic structures under section 47.”.
Legislative Activity
Stay on top of the latest movement without scrolling through every action
Senate amendment submitted
December 12, 2014