S.Amdt. 1716

SA 1716. Mr. BLUNT submitted an amendment intended to be proposed by
him to the bill H.R. 1, to provide for reconciliation pursuant to
titles II and V of the concurrent resolution on the budget for fiscal
year 2018; which was ordered to lie on the table; as follows:

On page 457, line 7, strike ``(6) Regulations.--'' and
insert:
``(6) Transition rules for existing indebtedness.--
``(A) Limitation not to apply.--The limitation under
paragraph (1) shall not apply to interest paid or accrued by
a domestic corporation on--
``(i) pre-November 10, 2017 indebtedness, or
``(ii) indebtedness issued after November 9, 2017, and
before January 1, 2019, in connection with a transaction
which was publicly announced before November 9, 2017, and was
waiting for regulatory approval on such date.
``(B) Indebtedness.--For purposes of subparagraph (A)--
``(i) Pre-november 10, 2017 indebtedness.--The term `pre-
November 10, 2017 indebtedness' means any indebtedness issued
before November 10, 2017.
``(ii) Significant modifications.--If any indebtedness
described in subparagraph (A) is significantly modified after
November 9, 2017 (the date of issuance in the case of
indebtedness described in subparagraph (A)(ii)), this
paragraph shall not apply any interest paid or accrued on
such indebtedness on or after the date such modification
takes effect.
``(7) Regulations.--
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