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Full Text of this Amendment

SA 210. Mr. BROWN of Massachusetts submitted an amendment intended to be proposed by him to the bill S. 493, to reauthorize and improve the SBIR and STTR programs, and for other purposes; which was ordered to lie on the table; as follows:

At the end of title V, add the following:
SEC. 504. REPEAL OF MEDICAL DEVICE EXCISE TAX.
(a) In General.--Subsections (a), (b), and (c) of section 1405 of the Health Care and Education Reconciliation Act of 2010, and the amendments made thereby, are hereby repealed; and the Internal Revenue Code of 1986 shall be applied as if such section and amendments had never been enacted.
(b) Rescission of Unspent Federal Funds to Offset Loss in Revenues.--
(1) IN GENERAL.--Notwithstanding any other provision of law, of all available unobligated funds, $39,000,000,000 in appropriated discretionary funds are hereby rescinded.
(2) IMPLEMENTATION.--The Director of the Office of Management and Budget shall determine and identify from which appropriation accounts the rescission under paragraph (1) shall apply and the amount of such rescission that shall apply to each such account. Not later than 60 days after the date of the enactment of this Act, the Director of the Office of Management and Budget shall submit a report to the Secretary of the Treasury and Congress of the accounts and amounts determined and identified
for rescission under the preceding sentence.
(3) EXCEPTION.--This subsection shall not apply to the unobligated funds of the Department of Defense or the Department of Veterans Affairs.


(As printed in the Congressional Record for the Senate on Mar 15, 2011.)