To establish a deficit-neutral reserve fund relating to maintaining the current law tax treatment of like kind exchanges.

SA 3753. Mr. KENNEDY submitted an amendment intended to be proposed
by him to the concurrent resolution S. Con. Res. 14, setting forth the
congressional budget for the United States Government for fiscal year
2022 and setting forth the appropriate budgetary levels for fiscal
years 2023 through 2031; which was ordered to lie on the table; as
follows:

At the end of title III, add the following:

SEC. 3___. DEFICIT-NEUTRAL RESERVE FUND RELATING TO
MAINTAINING THE CURRENT LAW TAX TREATMENT OF
LIKE KIND EXCHANGES.

The Chairman of the Committee on the Budget of the Senate
may revise the allocations of a committee or committees,
aggregates, and other appropriate levels in this resolution,
and make adjustments to the pay-as-you-go ledger, for one or
more bills, joint resolutions, amendments, amendments between
the Houses, motions, or conference reports relating to
maintaining the current law tax treatment of like kind
exchanges under the Internal Revenue Code of 1986 by the
amounts provided in such legislation for those purposes,
provided that such legislation would not increase the deficit
over either the period of the total of fiscal years 2022
through 2026 or the period of the total of fiscal years 2022
through 2031.
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