Text: H.R.5140 — 110th Congress (2007-2008)All Information (Except Text)

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Public Law No: 110-185 (02/13/2008)

 
[110th Congress Public Law 185]
[From the U.S. Government Printing Office]


[DOCID: f:publ185.110]

[[Page 122 STAT. 613]]

Public Law 110-185
110th Congress

                                 An Act


 
 To provide economic stimulus through recovery rebates to individuals, 
 incentives for business investment, and an increase in conforming and 
        FHA loan limits. <<NOTE: Feb. 13, 2008 -  [H.R. 5140]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, <<NOTE: Economic 
Stimulus Act of 2008.>> 

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) <<NOTE: 26 USC 1 note.>> Short Title.--This Act may be cited as 
the ``Economic Stimulus Act of 2008''.

    (b) Table of Contents.--The table of contents of this Act is as 
follows:

Sec. 1. Short title; table of contents.

    TITLE I--RECOVERY REBATES AND INCENTIVES FOR BUSINESS INVESTMENT

Sec. 101. 2008 recovery rebates for individuals.
Sec. 102. Temporary increase in limitations on expensing of certain 
           depreciable business assets.
Sec. 103. Special allowance for certain property acquired during 2008.

                TITLE II--HOUSING GSE AND FHA LOAN LIMITS

Sec. 201. Temporary conforming loan limit increase for Fannie Mae and 
           Freddie Mac.
Sec. 202. Temporary loan limit increase for FHA.

                    TITLE III--EMERGENCY DESIGNATION

Sec. 301. Emergency designation.

    TITLE I--RECOVERY REBATES AND INCENTIVES FOR BUSINESS INVESTMENT

SEC. 101. 2008 RECOVERY REBATES FOR INDIVIDUALS.

    (a) In General.--Section 6428 of the Internal Revenue Code of 
1986 <<NOTE: 26 USC 6428.>> is amended to read as follows:

``SEC. 6428. 2008 RECOVERY REBATES FOR INDIVIDUALS.

    ``(a) In General.--In the case of an eligible individual, there 
shall be allowed as a credit against the tax imposed by subtitle A for 
the first taxable year beginning in 2008 an amount equal to the lesser 
of--
            ``(1) net income tax liability, or
            ``(2) $600 ($1,200 in the case of a joint return).

    ``(b) Special Rules.--
            ``(1) In general.--In the case of a taxpayer described in 
        paragraph (2)--

[[Page 122 STAT. 614]]

                    ``(A) the amount determined under subsection (a) 
                shall not be less than $300 ($600 in the case of a joint 
                return), and
                    ``(B) the amount determined under subsection (a) 
                (after the application of subparagraph (A)) shall be 
                increased by the product of $300 multiplied by the 
                number of qualifying children (within the meaning of 
                section 24(c)) of the taxpayer.
            ``(2) Taxpayer described.--A taxpayer is described in this 
        paragraph if the taxpayer--
                    ``(A) has qualifying income of at least $3,000, or
                    ``(B) has--
                          ``(i) net income tax liability which is 
                      greater than zero, and
                          ``(ii) gross income which is greater than the 
                      sum of the basic standard deduction plus the 
                      exemption amount (twice the exemption amount in 
                      the case of a joint return).

    ``(c) Treatment of Credit.--The credit allowed by subsection (a) 
shall be treated as allowed by subpart C of part IV of subchapter A of 
chapter 1.
    ``(d) Limitation Based on Adjusted Gross Income.--The amount of the 
credit allowed by subsection (a) (determined without regard to this 
subsection and subsection (f)) shall be reduced (but not below zero) by 
5 percent of so much of the taxpayer's adjusted gross income as exceeds 
$75,000 ($150,000 in the case of a joint return).
    ``(e) Definitions.--For purposes of this section--
            ``(1) Qualifying income.--The term `qualifying income' 
        means--
                    ``(A) earned income,
                    ``(B) social security benefits (within the meaning 
                of section 86(d)), and
                    ``(C) any compensation or pension received under 
                chapter 11, chapter 13, or chapter 15 of title 38, 
                United States Code.
            ``(2) Net income tax liability.--The term `net income tax 
        liability' means the excess of--
                    ``(A) the sum of the taxpayer's regular tax 
                liability (within the meaning of section 26(b)) and the 
                tax imposed by section 55 for the taxable year, over
                    ``(B) the credits allowed by part IV (other than 
                section 24 and subpart C thereof) of subchapter A of 
                chapter 1.
            ``(3) Eligible individual.--The term `eligible individual' 
        means any individual other than--
                    ``(A) any nonresident alien individual,
                    ``(B) any individual with respect to whom a 
                deduction under section 151 is allowable to another 
                taxpayer for a taxable year beginning in the calendar 
                year in which the individual's taxable year begins, and
                    ``(C) an estate or trust.
            ``(4) Earned income.--The term `earned income' has the 
        meaning set forth in section 32(c)(2) except that--
                    ``(A) subclause (II) of subparagraph (B)(vi) thereof 
                shall be applied by substituting `January 1, 2009' for 
                `January 1, 2008', and

[[Page 122 STAT. 615]]

                    ``(B) such term shall not include net earnings from 
                self-employment which are not taken into account in 
                computing taxable income.
            ``(5) Basic standard deduction; exemption amount.--The terms 
        `basic standard deduction' and `exemption amount' shall have the 
        same respective meanings as when used in section 6012(a).

    ``(f) Coordination With Advance Refunds of Credit.--
            ``(1) In general.--The amount of credit which would (but for 
        this paragraph) be allowable under this section shall be reduced 
        (but not below zero) by the aggregate refunds and credits made 
        or allowed to the taxpayer under subsection (g). Any failure to 
        so reduce the credit shall be treated as arising out of a 
        mathematical or clerical error and assessed according to section 
        6213(b)(1).
            ``(2) Joint returns.--In the case of a refund or credit made 
        or allowed under subsection (g) with respect to a joint return, 
        half of such refund or credit shall be treated as having been 
        made or allowed to each individual filing such return.

    ``(g) Advance Refunds and Credits.--
            ``(1) In general.--Each individual who was an eligible 
        individual for such individual's first taxable year beginning in 
        2007 shall be treated as having made a payment against the tax 
        imposed by chapter 1 for such first taxable year in an amount 
        equal to the advance refund amount for such taxable year.
            ``(2) Advance refund amount.--For purposes of paragraph (1), 
        the advance refund amount is the amount that would have been 
        allowed as a credit under this section for such first taxable 
        year if this section (other than subsection (f) and this 
        subsection) had applied to such taxable year.
            ``(3) Timing of payments.--The Secretary shall, subject to 
        the provisions of this title, refund or credit any overpayment 
        attributable to this section as rapidly as 
        possible. <<NOTE: Deadline.>> No refund or credit shall be made 
        or allowed under this subsection after December 31, 2008.
            ``(4) No interest.--No interest shall be allowed on any 
        overpayment attributable to this section.

    ``(h) Identification Number Requirement.--
            ``(1) In general.--No credit shall be allowed under 
        subsection (a) to an eligible individual who does not include on 
        the return of tax for the taxable year--
                    ``(A) such individual's valid identification number,
                    ``(B) in the case of a joint return, the valid 
                identification number of such individual's spouse, and
                    ``(C) in the case of any qualifying child taken into 
                account under subsection (b)(1)(B), the valid 
                identification number of such qualifying child.
            ``(2) Valid identification number.--For purposes of 
        paragraph (1), the term `valid identification number' means a 
        social security number issued to an individual by the Social 
        Security Administration. Such term shall not include a TIN 
        issued by the Internal Revenue Service.''.

    (b) Administrative Amendments.--
            (1) Definition of deficiency.--Section 6211(b)(4)(A) of the 
        Internal Revenue Code of 1986 <<NOTE: 26 USC 6211.>> is amended 
        by striking ``and 53(e)'' and inserting ``53(e), and 6428''.

[[Page 122 STAT. 616]]

            (2) Mathematical or clerical error authority.--Section 
        6213(g)(2)(L) of such Code <<NOTE: 26 USC 6213.>> is amended by 
        striking ``or 32'' and inserting ``32, or 6428''.

    (c) Treatment of Possessions.-- <<NOTE: 26 USC 6428 note.>> 
            (1) Payments to possessions.--
                    (A) Mirror code possession.--The Secretary of the 
                Treasury shall make a payment to each possession of the 
                United States with a mirror code tax system in an amount 
                equal to the loss to that possession by reason of the 
                amendments made by this section. Such amount shall be 
                determined by the Secretary of the Treasury based on 
                information provided by the government of the respective 
                possession.
                    (B) Other possessions.--The Secretary of the 
                Treasury shall make a payment to each possession of the 
                United States which does not have a mirror code tax 
                system in an amount estimated by the Secretary of the 
                Treasury as being equal to the aggregate benefits that 
                would have been provided to residents of such possession 
                by reason of the amendments made by this section if a 
                mirror code tax system had been in effect in such 
                possession. The preceding sentence shall not apply with 
                respect to any possession of the United States unless 
                such possession has a plan, which has been approved by 
                the Secretary of the Treasury, under which such 
                possession will promptly distribute such payment to the 
                residents of such possession.
            (2) Coordination with credit allowed against united states 
        income taxes.--No credit shall be allowed against United States 
        income taxes under section 6428 of the Internal Revenue Code of 
        1986 (as amended by this section) to any person--
                    (A) to whom a credit is allowed against taxes 
                imposed by the possession by reason of the amendments 
                made by this section, or
                    (B) who is eligible for a payment under a plan 
                described in paragraph (1)(B).
            (3) Definitions and special rules.--
                    (A) Possession of the united states.--For purposes 
                of this subsection, the term ``possession of the United 
                States'' includes the Commonwealth of Puerto Rico and 
                the Commonwealth of the Northern Mariana Islands.
                    (B) Mirror code tax system.--For purposes of this 
                subsection, the term ``mirror code tax system'' means, 
                with respect to any possession of the United States, the 
                income tax system of such possession if the income tax 
                liability of the residents of such possession under such 
                system is determined by reference to the income tax laws 
                of the United States as if such possession were the 
                United States.
                    (C) Treatment of payments.--For purposes of section 
                1324(b)(2) of title 31, United States Code, the payments 
                under this subsection shall be treated in the same 
                manner as a refund due from the credit allowed under 
                section 6428 of the Internal Revenue Code of 1986 (as 
                amended by this section).

    (d) Refunds Disregarded in the Administration of Federal Programs 
and Federally Assisted Programs. <<NOTE: 26 USC 6428 note.>> --Any 
credit or refund allowed or made to any individual by reason of section

[[Page 122 STAT. 617]]

6428 of the Internal Revenue Code of 1986 (as amended by this section) 
or by reason of subsection (c) of this section shall not be taken into 
account as income and shall not be taken into account as resources for 
the month of receipt and the following 2 months, for purposes of 
determining the eligibility of such individual or any other individual 
for benefits or assistance, or the amount or extent of benefits or 
assistance, under any Federal program or under any State or local 
program financed in whole or in part with Federal funds.

    (e) Appropriations To Carry Out Rebates.--
            (1) In general.--Immediately upon the enactment of this Act, 
        the following sums are appropriated, out of any money in the 
        Treasury not otherwise appropriated, for the fiscal year ending 
        September 30, 2008:
                    (A) Department of the treasury.--
                          (i) For an additional amount for ``Department 
                      of the Treasury--Financial Management Service--
                      Salaries and Expenses'', $64,175,000, to remain 
                      available until September 30, 2009.
                          (ii) For an additional amount for ``Department 
                      of the Treasury--Internal Revenue Service--
                      Taxpayer Services'', $50,720,000, to remain 
                      available until September 30, 2009.
                          (iii) For an additional amount for 
                      ``Department of the Treasury--Internal Revenue 
                      Service--Operations Support'', $151,415,000, to 
                      remain available until September 30, 2009.
                    (B) Social security administration.--For an 
                additional amount for ``Social Security Administration--
                Limitation on Administrative Expenses'', $31,000,000, to 
                remain available until September 30, 2008.
            (2) Reports.--No later than 15 days after enactment of this 
        Act, the Secretary of the Treasury shall submit a plan to the 
        Committees on Appropriations of the House of Representatives and 
        the Senate detailing the expected use of the funds provided by 
        paragraph (1)(A). Beginning 90 days after enactment of this Act, 
        the Secretary of the Treasury shall submit a quarterly report to 
        the Committees on Appropriations of the House of Representatives 
        and the Senate detailing the actual expenditure of funds 
        provided by paragraph (1)(A) and the expected expenditure of 
        such funds in the subsequent quarter.

    (f) Conforming Amendments.--
            (1) Paragraph (2) of section 1324(b) of title 31, United 
        States Code, is amended by inserting ``or 6428'' after ``section 
        35''.
            (2) Paragraph (1) of section 1(i) of the Internal Revenue 
        Code of 1986 <<NOTE: 26 USC 1.>> is amended by striking 
        subparagraph (D).
            (3) The item relating to section 6428 in the table of 
        sections for subchapter B of chapter 65 of such Code is amended 
        to read as follows:

``Sec. 6428. 2008 recovery rebates for individuals.''.

[[Page 122 STAT. 618]]

SEC. 102. TEMPORARY INCREASE IN LIMITATIONS ON EXPENSING OF CERTAIN 
            DEPRECIABLE BUSINESS ASSETS.

    (a) In General.--Subsection (b) of section 179 of the Internal 
Revenue Code of 1986 <<NOTE: 26 USC 179.>> (relating to limitations) is 
amended by adding at the end the following new paragraph:
            ``(7) Increase in limitations for 2008.--In the case of any 
        taxable year beginning in 2008--
                    ``(A) the dollar limitation under paragraph (1) 
                shall be $250,000,
                    ``(B) the dollar limitation under paragraph (2) 
                shall be $800,000, and
                    ``(C) the amounts described in subparagraphs (A) and 
                (B) shall not be adjusted under paragraph (5).''.

    (b) Effective Date.-- <<NOTE: 26 USC 179 note.>> The amendment made 
by this section shall apply to taxable years beginning after December 
31, 2007.

SEC. 103. SPECIAL ALLOWANCE FOR CERTAIN PROPERTY ACQUIRED DURING 2008.

    (a) In General.--Subsection (k) of section 168 of the Internal 
Revenue Code of 1986 (relating to special allowance for certain property 
acquired after September 10, 2001, and before January 1, 2005) is 
amended--
            (1) by striking ``September 10, 2001'' each place it appears 
        and inserting ``December 31, 2007'',
            (2) by striking ``September 11, 2001'' each place it appears 
        and inserting ``January 1, 2008'',
            (3) by striking ``January 1, 2005'' each place it appears 
        and inserting ``January 1, 2009'', and
            (4) by striking ``January 1, 2006'' each place it appears 
        and inserting ``January 1, 2010''.

    (b) 50 Percent Allowance.--Subparagraph (A) of section 168(k)(1) of 
such Code is amended by striking ``30 percent'' and inserting ``50 
percent''.
    (c) Conforming Amendments.--
            (1) Subclause (I) of section 168(k)(2)(B)(i) of such Code is 
        amended by striking ``and (iii)'' and inserting ``(iii), and 
        (iv)''.
            (2) Subclause (IV) of section 168(k)(2)(B)(i) of such Code 
        is amended by striking ``clauses (ii) and (iii)'' and inserting 
        ``clause (iii)''.
            (3) Clause (i) of section 168(k)(2)(C) of such Code is 
        amended by striking ``and (iii)'' and inserting ``, (iii), and 
        (iv)''.
            (4) Clause (i) of section 168(k)(2)(F) of such Code is 
        amended by striking ``$4,600'' and inserting ``$8,000''.
            (5)(A) Subsection (k) of section 168 of such Code is amended 
        by striking paragraph (4).
            (B) Clause (iii) of section 168(k)(2)(D) of such Code is 
        amended by striking the last sentence.
            (6) Paragraph (4) of section 168(l) of such Code is amended 
        by redesignating subparagraphs (A), (B), and (C) as 
        subparagraphs (B), (C), and (D) and inserting before 
        subparagraph (B) (as so redesignated) the following new 
        subparagraph:
                    ``(A) Bonus depreciation property under subsection 
                (k).--Such term shall not include any property to which 
                section 168(k) applies.''.
            (7) Paragraph (5) of section 168(l) of such Code is 
        amended--

[[Page 122 STAT. 619]]

                    (A) by striking ``September 10, 2001'' in 
                subparagraph (A) and inserting ``December 31, 2007'', 
                and
                    (B) by striking ``January 1, 2005'' in subparagraph 
                (B) and inserting ``January 1, 2009''.
            (8) Subparagraph (D) of section 1400L(b)(2) of 
        such <<NOTE: 26 USC 1400L.>> Code is amended by striking 
        ``January 1, 2005'' and inserting ``January 1, 2010''.
            (9) Paragraph (3) of section 1400N(d) of such Code is 
        amended--
                    (A) by striking ``September 10, 2001'' in 
                subparagraph (A) and inserting ``December 31, 2007'', 
                and
                    (B) by striking ``January 1, 2005'' in subparagraph 
                (B) and inserting ``January 1, 2009''.
            (10) Paragraph (6) of section 1400N(d) of such Code is 
        amended by adding at the end the following new subparagraph:
                    ``(E) Exception for bonus depreciation property 
                under section 168(k).--The term `specified Gulf 
                Opportunity Zone extension property' shall not include 
                any property to which section 168(k) applies.''.
            (11) The heading for subsection (k) of section 168 of such 
        Code is amended--
                    (A) by striking ``September 10, 2001'' and inserting 
                ``December 31, 2007'', and
                    (B) by striking ``January 1, 2005'' and inserting 
                ``January 1, 2009''.
            (12) The heading for clause (ii) of section 168(k)(2)(B) of 
        such Code is amended by striking ``pre-january 1, 2005'' and 
        inserting ``pre-january 1, 2009''.

    (d) Effective Date.-- <<NOTE: 26 USC 168 note.>> The amendments made 
by this section shall apply to property placed in service after December 
31, 2007, in taxable years ending after such date.

                TITLE II--HOUSING GSE AND FHA LOAN LIMITS

SEC. 201. TEMPORARY CONFORMING LOAN LIMIT INCREASE FOR FANNIE MAE AND 
            FREDDIE MAC.

    (a) Increase of High Cost Areas Limits for Housing GSEs.--For 
mortgages originated during the period beginning on July 1, 2007, and 
ending at the end of December 31, 2008:
            (1) Fannie mae.--With respect to the Federal National 
        Mortgage Association, notwithstanding section 302(b)(2) of the 
        Federal National Mortgage Association Charter Act (12 U.S.C. 
        1717(b)(2)), the limitation on the maximum original principal 
        obligation of a mortgage that may be purchased by the 
        Association shall be the higher of--
                    (A) the limitation for 2008 determined under such 
                section 302(b)(2) for a residence of the applicable 
                size; or
                    (B) 125 percent of the area median price for a 
                residence of the applicable size, but in no case to 
                exceed 175 percent of the limitation for 2008 determined 
                under such section 302(b)(2) for a residence of the 
                applicable size.
            (2) Freddie mac.--With respect to the Federal Home Loan 
        Mortgage Corporation, notwithstanding section 305(a)(2) of the 
        Federal Home Loan Mortgage Corporation Act (12 U.S.C. 
        1454(a)(2)), the limitation on the maximum original principal

[[Page 122 STAT. 620]]

        obligation of a mortgage that may be purchased by the 
        Corporation shall be the higher of--
                    (A) the limitation determined for 2008 under such 
                section 305(a)(2) for a residence of the applicable 
                size; or
                    (B) 125 percent of the area median price for a 
                residence of the applicable size, but in no case to 
                exceed 175 percent of the limitation determined for 2008 
                under such section 305(a)(2) for a residence of the 
                applicable size.

    (b) Determination of Limits.--The areas and area median prices used 
for purposes of the determinations under subsection (a) shall be the 
areas and area median prices used by the Secretary of Housing and Urban 
Development in determining the applicable limits under section 202 of 
this title.
    (c) Rule of Construction.--A mortgage originated during the period 
referred to in subsection (a) that is eligible for purchase by the 
Federal National Mortgage Association or the Federal Home Loan Mortgage 
Corporation pursuant to this section shall be eligible for such purchase 
for the duration of the term of the mortgage, notwithstanding that such 
purchase occurs after the expiration of such period.
    (d) Effect on Housing Goals.--Notwithstanding any other provision of 
law, mortgages purchased in accordance with the increased maximum 
original principal obligation limitations determined pursuant to this 
section shall not be considered in determining performance with respect 
to any of the housing goals established under section 1332, 1333, or 
1334 of the Housing and Community Development Act of 1992 (12 U.S.C. 
4562-4), and shall not be considered in determining compliance with such 
goals pursuant to section 1336 of such Act (12 U.S.C. 4566) and 
regulations, orders, or guidelines issued thereunder.
    (e) Sense of Congress.--It is the sense of the Congress that the 
securitization of mortgages by the Federal National Mortgage Association 
and the Federal Home Loan Mortgage Corporation plays an important role 
in providing liquidity to the United States housing markets. Therefore, 
the Congress encourages the Federal National Mortgage Association and 
the Federal Home Loan Mortgage Corporation to securitize mortgages 
acquired under the increased conforming loan limits established in this 
section, to the extent that such securitizations can be effected in a 
timely and efficient manner that does not impose additional costs for 
mortgages originated, purchased, or securitized under the existing 
limits or interfere with the goal of adding liquidity to the market.

SEC. 202. TEMPORARY LOAN LIMIT INCREASE FOR FHA.

    (a) Increase of High-Cost Area Limit.-- <<NOTE: Deadline.>> For 
mortgages for which the mortgagee has issued credit approval for the 
borrower on or before December 31, 2008, subparagraph (A) of section 
203(b)(2) of the National Housing Act (12 U.S.C. 1709(b)(2)(A)) shall be 
considered (except for purposes of section 255(g) of such Act (12 U.S.C. 
1715z-20(g))) to require that a mortgage shall involve a principal 
obligation in an amount that does not exceed the lesser of--
            (1) in the case of a 1-family residence, 125 percent of the 
        median 1-family house price in the area, as determined by the 
        Secretary; and in the case of a 2-, 3-, or 4-family residence, 
        the percentage of such median price that bears the same ratio to 
        such median price as the dollar amount limitation

[[Page 122 STAT. 621]]

        determined for 2008 under section 305(a)(2) of the Federal Home 
        Loan Mortgage Corporation Act (12 U.S.C. 1454(a)(2)) for a 2-, 
        3-, or 4-family residence, respectively, bears to the dollar 
        amount limitation determined for 2008 under such section for a 
        1-family residence; or
            (2) 175 percent of the dollar amount limitation determined 
        for 2008 under such section 305(a)(2) for a residence of the 
        applicable size (without regard to any authority to increase 
        such limitation with respect to properties located in Alaska, 
        Guam, Hawaii, or the Virgin Islands);

except that the dollar amount limitation in effect under this subsection 
for any size residence for any area shall not be less than the greater 
of: (A) the dollar amount limitation in effect under such section 
203(b)(2) for the area on October 21, 1998; or (B) 65 percent of the 
dollar amount limitation determined for 2008 under such section 
305(a)(2) for a residence of the applicable size. Any reference in this 
subsection to dollar amount limitations in effect under section 
305(a)(2) of the Federal Home Loan Mortgage Corporation Act means such 
limitations as in effect without regard to any increase in such 
limitation pursuant to section 201 of this title.
    (b) Discretionary Authority.--If the Secretary of Housing and Urban 
Development determines that market conditions warrant such an increase, 
the Secretary may, for the period that begins upon the date of the 
enactment of this Act and ends at the end of the date specified in 
subsection (a), increase the maximum dollar amount limitation determined 
pursuant to subsection (a) with respect to any particular size or sizes 
of residences, or with respect to residences located in any particular 
area or areas, to an amount that does not exceed the maximum dollar 
amount then otherwise in effect pursuant to subsection (a) for such size 
residence, or for such area (if applicable), by not more than $100,000.
    (c) Publication of Area Median Prices and Loan Limits.--The 
Secretary of <<NOTE: Deadline.>> Housing and Urban Development shall 
publish the median house prices and mortgage principal obligation 
limits, as revised pursuant to this section, for all areas as soon as 
practicable, but in no case more than 30 days after the date of the 
enactment of this Act. With respect to existing areas for which the 
Secretary has not established area median prices before such date of 
enactment, the Secretary may rely on existing commercial data in 
determining area median prices and calculating such revised principal 
obligation limits.

[[Page 122 STAT. 622]]

                    TITLE III--EMERGENCY DESIGNATION

SEC. 301. EMERGENCY DESIGNATION.

    For purposes of Senate enforcement, all provisions of this Act are 
designated as emergency requirements and necessary to meet emergency 
needs pursuant to section 204 of S. Con. Res. 21 (110th Congress), the 
concurrent resolution on the budget for fiscal year 2008.

    Approved February 13, 2008.

LEGISLATIVE HISTORY--H.R. 5140:
---------------------------------------------------------------------------

CONGRESSIONAL RECORD, Vol. 154 (2008):
            Jan. 29, considered and passed House.
            Feb. 5, 6, considered and passed Senate, amended.
            Feb. 7, House concurred in Senate amendment.
WEEKLY COMPILATION OF PRESIDENTIAL DOCUMENTS, Vol. 44 (2008):
            Feb. 13, Presidential remarks.

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