[Page S12727]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 3056. Mr. ENSIGN submitted an amendment intended to be proposed to 
amendment SA 2786 proposed by Mr. Reid (for himself, Mr. Baucus, Mr. 
Dodd, and Mr. Harkin) to the bill H.R. 3590, to amend the Internal 
Revenue Code of 1986 to modify the first-time homebuyers credit in the 
case of members of the Armed Forces and certain other Federal 
employees, and for other purposes; which was ordered to lie on the 
table; as follows:

       On page 340, strike lines 1 through 14 and insert the 
     following:
       ``(A) Waiver of criminal and civil penalties and 
     interest.--In the case of any failure by a taxpayer to timely 
     pay any penalty imposed by this section--
       ``(i) such taxpayer shall not be subject to any criminal 
     prosecution or penalty with respect to such failure, and
       ``(ii) no penalty, addition to tax, or interest shall be 
     imposed with respect to such failure or such penalty.
       ``(B) Limited collection actions permitted.--In the case of 
     the assessment of any penalty imposed by this section, the 
     Secretary shall not take any action with respect to the 
     collection of such penalty other than--
       ``(i) giving notice and demand for such penalty under 
     section 6303,
       ``(ii) crediting under section 6402(a) the amount of any 
     overpayment of the taxpayer against such penalty, and
       ``(iii) offsetting any payment owed by any Federal agency 
     to the taxpayer against such penalty under the Treasury 
     offset program.''.
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