S.Amdt. 1177

SA 1177. Mr. CARDIN (for himself and Mr. Markey) submitted an
amendment intended to be proposed to amendment SA 1116 proposed by Mr.
Enzi to the concurrent resolution H. Con. Res. 71, establishing the
congressional budget for the United States Government for fiscal year
2018 and setting forth the appropriate budgetary levels for fiscal
years 2019 through 2027; which was ordered to lie on the table; as
follows:

At the end of title IV, add the following:

SEC. 4__. POINT OF ORDER AGAINST ANY TAX BILL THAT REPEALS
INCENTIVES THAT PROMOTE ECONOMIC DEVELOPMENT
AND INVESTMENT IN ECONOMICALLY DISTRESSED
COMMUNITIES.

(a) Point of Order.--It shall not be in order in the Senate
to consider any bill, joint resolution, motion, amendment,
amendment between the Houses, or conference report that
repeals the low-income housing credit under section 42 of the
Internal Revenue Code of 1986, the new markets tax credit
under section 45D of such Code, or the historic tax credit
program.
(b) Waiver and Appeal.--Subsection (a) may be waived or
suspended in the Senate only by an affirmative vote of three-
fifths of the Members, duly chosen and sworn. An affirmative
vote of three-fifths of the Members of the Senate, duly
chosen and sworn, shall be required to sustain an appeal of
the ruling of the Chair on a point of order raised under
subsection (a).
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