‘‘(II) a biomedical research cor-
poration 
(as 
defined 
in 
section 
382(l)(9)(B)),’’. 
(e) BASIC RESEARCH EXPENSES
OF QUALIFYING 
BIOMEDICAL
RESEARCH
CORPORATION.—Section 
41(e)(3) is amended is amended to read as follows: 
‘‘(3) QUALIFIED ORGANIZATION BASE PERIOD 
AMOUNT.—For purposes of this subsection— 
‘‘(A) IN
GENERAL.—The term ‘qualified 
organization base period amount’ means an 
amount equal to the sum of— 
‘‘(i) the minimum basic research 
amount, plus 
‘‘(ii) 
the 
maintenance-of-effort 
amount. 
‘‘(B) BIOMEDICAL
RESEARCH
CORPORA-
TION.—In the case of a biomedical research 
corporation, the qualified organization base pe-
riod amount is zero.’’. 
(f) EFFECTIVE DATE.— The amendments made by 
this section shall apply to taxable years beginning after 
December, 31, 2006. 
SEC. 104. MEDICAL INNOVATION TAX CREDIT. 
(a) IN GENERAL.—Subpart D of part IV of sub-
chapter A of chapter 1 (relating to business related cred-
VerDate Aug 31 2005 
03:55 Apr 13, 2006
Jkt 049196
PO 00000
Frm 00013
Fmt 6652
Sfmt 6201
E:\BILLS\H5115.IH
H5115
ccoleman on PROD1PC71 with BILLS
its) is amended by inserting after section 41 the following 
new section: 
‘‘SEC. 41A. CREDIT FOR MEDICAL INNOVATION EXPENSES. 
‘‘(a) GENERAL RULE.— For purposes of section 38, 
the medical innovation credit determined under this sec-
tion for the taxable year shall be an amount equal to 40 
percent of the excess (if any) of— 
‘‘(1) the qualified medical innovation expenses 
for the taxable year, over 
‘‘(2) the medical innovation base period 
amount. 
‘‘(b) 
QUALIFIED
MEDICAL
INNOVATION
EX-
PENSES.—For purposes of this section— 
‘‘(1) IN GENERAL.—The term ‘qualified medical 
innovation expenses’ means the amounts paid or in-
curred by the taxpayer during the taxable year di-
rectly or indirectly to any qualified academic institu-
tion for clinical testing research activities. 
‘‘(2) CLINICAL
TESTING
RESEARCH
ACTIVI-
TIES.— 
‘‘(A) IN
GENERAL.—The term ‘clinical 
testing research activities’ means human clinical 
testing conducted at any qualified academic in-
stitution in the development of any product, 
which occurs before— 
VerDate Aug 31 2005 
03:55 Apr 13, 2006
Jkt 049196
PO 00000
Frm 00014
Fmt 6652
Sfmt 6201
E:\BILLS\H5115.IH
H5115
ccoleman on PROD1PC71 with BILLS
‘‘(i) the date on which an application 
with respect to such product is approved 
under section 505(b), 506, or 507 of the 
Federal Food, Drug, and Cosmetic Act, 
‘‘(ii) the date on which a license for 
such product is issued under section 351 of 
the Public Health Service Act, or 
‘‘(iii) the date on which classification 
or approval of such product which is a de-
vice intended for human use is given under 
section 513, 514, or 515 of the Federal 
Food, Drug, and Cosmetic Act. 
‘‘(B) 
PRODUCT.—The 
term 
‘product’ 
means any drug, biologic, or medical device. 
‘‘(3) QUALIFIED ACADEMIC INSTITUTION.—The 
term ‘qualified academic institution’ means any of 
the following institutions: 
‘‘(A) EDUCATIONAL INSTITUTION.—An or-
ganization described in section 170(b)(1)(A)(iii) 
which is owned or affiliated with an institution 
of higher education as described in section 
3304(f). 
‘‘(B) TEACHING
HOSPITAL.—A teaching 
hospital which— 
VerDate Aug 31 2005 
03:55 Apr 13, 2006
Jkt 049196
PO 00000
Frm 00015
Fmt 6652
Sfmt 6201
E:\BILLS\H5115.IH
H5115
ccoleman on PROD1PC71 with BILLS
‘‘(i) is publicly supported or owned by 
an 
organization 
described 
in 
section 
501(c)(3), and 
‘‘(ii) is affiliated with an organization 
meeting the requirements of subparagraph 
(A). 
‘‘(C) FOUNDATION.—A medical research 
organization described in section 501(c)(3) 
(other than a private foundation) which is affili-
ated with, or owned by— 
‘‘(i) an organization meeting the re-
quirements of subparagraph (A), or 
‘‘(ii) a teaching hospital meeting the 
requirements of subparagraph (B). 
‘‘(D) 
CHARITABLE
RESEARCH
HOS-
PITAL.—A hospital that is designated as a can-
cer center by the National Cancer Institute. 
‘‘(4) EXCLUSION
FOR
AMOUNTS
FUNDED
BY 
GRANTS, ETC.—The term ‘qualified medical innova-
tion expenses’ shall not include any amount to the 
extent such amount is funded by any grant, con-
tract, or otherwise by another person (or any gov-
ernmental entity). 
‘‘(c) 
MEDICAL
INNOVATION
BASE
PERIOD 
AMOUNT.—For purposes of this section, the term ‘medical 
VerDate Aug 31 2005 
03:55 Apr 13, 2006
Jkt 049196
PO 00000
Frm 00016
Fmt 6652
Sfmt 6201
E:\BILLS\H5115.IH
H5115
ccoleman on PROD1PC71 with BILLS
innovation base period amount’ means the average annual 
qualified medical innovation expenses paid by the taxpayer 
during the 3-taxable year period ending with the taxable 
year immediately preceding the first taxable year of the 
taxpayer beginning after December 31, 2006. 
‘‘(d) SPECIAL RULES.— 
‘‘(1) LIMITATION ON FOREIGN TESTING.—No 
credit shall be allowed under this section with re-
spect to any clinical testing research activities con-
ducted outside the United States. 
‘‘(2) CERTAIN
RULES
MADE
APPLICABLE.— 
Rules similar to the rules of subsections (f) and (g) 
of section 41 shall apply for purposes of this section. 
‘‘(3) ELECTION.—This section shall apply to 
any taxpayer for any taxable year only if such tax-
payer elects to have this section apply for such tax-
able year. 
‘‘(4) COORDINATION
WITH
CREDIT
FOR
IN-
CREASING
RESEARCH
EXPENDITURES
AND
WITH 
CREDIT FOR CLINICAL TESTING EXPENSES FOR CER-
TAIN DRUGS FOR RARE DISEASES.—Any qualified 
medical innovation expense for a taxable year to 
which an election under this section applies shall not 
be taken into account for purposes of determining 
VerDate Aug 31 2005 
03:55 Apr 13, 2006
Jkt 049196
PO 00000
Frm 00017
Fmt 6652
Sfmt 6201
E:\BILLS\H5115.IH
H5115
ccoleman on PROD1PC71 with BILLS
the credit allowable under section 41 or 45C for 
such taxable year.’’. 
(b) CREDIT TO BE PART OF GENERAL BUSINESS 
CREDIT.— 
(1) IN GENERAL.—Section 38(b) (relating to 
current year business credits) is amended by striking 
‘‘and’’ at the end of paragraph (29), by striking the 
period at the end of paragraph (30) and inserting ‘‘, 
and’’, and by adding at the end the following new 
paragraph: 
‘‘(31) the medical innovation credit determined 
under section 41A(a).’’. 
(2) 
TRANSITION
RULE.—Section 
39(d) 
is 
amended by adding at the end the following new 
paragraph: 
‘‘(9) NO CARRYBACK OF SECTION 41A CREDIT 
BEFORE
ENACTMENT.—No portion of the unused 
business credit for any taxable year which is attrib-
utable to the medical innovation credit determined 
under section 41A may be carried back to a taxable 
year beginning before January 1, 2007.’’. 
(c) DENIAL OF DOUBLE BENEFIT.—Section 280C is 
amended by adding at the end the following new sub-
section: 
‘‘(e) MEDICAL INNOVATION CREDIT.— 
VerDate Aug 31 2005 
03:55 Apr 13, 2006
Jkt 049196
PO 00000
Frm 00018
Fmt 6652
Sfmt 6201
E:\BILLS\H5115.IH
H5115
ccoleman on PROD1PC71 with BILLS
‘‘(1) IN GENERAL.—No deduction shall be al-
lowed for that portion of the qualified medical inno-
vation expenses (as defined in section 41A(b)) other-
wise allowable as a deduction for the taxable year 
which is equal to the amount of the credit deter-
mined for such taxable year under section 41A(a). 
‘‘(2) CERTAIN RULES TO APPLY.—Rules similar 
to the rules of paragraphs (2), (3), and (4) of sub-
section (c) shall apply for purposes of this sub-
section.’’. 
(d) DEDUCTION FOR UNUSED PORTION OF CRED-
IT.—Section 196(c) (defining qualified business credits) is 
amended by striking ‘‘and’’ at the end of paragraph (12), 
by striking the period at the end of paragraph (13) and 
inserting ‘‘, and’’, and by inserting after paragraph (13) 
the following new paragraph: 
‘‘(14) the medical innovation credit determined 
under section 41A(a).’’. 
(e) CLERICAL AMENDMENT.—The table of sections 
for subpart D of part IV of subchapter A of chapter 1 
is amended by adding after the item relating to section 
41 the following new item: 
‘‘Sec. 41A. Credit for medical innovation expenses.’’. 
(f) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2006. 
VerDate Aug 31 2005 
03:55 Apr 13, 2006
Jkt 049196
PO 00000
Frm 00019
Fmt 6652
Sfmt 6201
E:\BILLS\H5115.IH
H5115
ccoleman on PROD1PC71 with BILLS
SEC. 105. ORPHAN DRUG CREDIT EXPANSION. 
(a) 
IN
GENERAL.—Subclause 
(I) 
of 
section 
45C(b)(2)(A)(ii) of the Internal Revenue Code of 1986 is 
amended to read as follows: 
‘‘(I) after the date that the application is 
filed for designation under such section 526 of 
such Act, and’’. 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply to amounts paid or incurred in tax-
able years beginning after December 31, 2006. 
SEC. 106. COUNTERMEASURES AND PANDEMIC FLU RE-
SEARCH INCENTIVES. 
(a) ELECTION OF FEDERAL TAX INCENTIVE RE-
GIME.— 
(1) IN GENERAL.—A biomedical research cor-
poration (as defined in section 382(l)(9)(B) of the 
Internal Revenue Code of 1986) may elect to apply 
the tax incentive described in subparagraph (A), 
(B), or (C) for a taxable year, but such biomedical 
research corporation may not elect to apply more 
than one such tax incentive for such taxable year. 
(A) RESEARCH AND DEVELOPMENT LIM-
ITED
PARTNERSHIPS
TO
FUND
COUNTER-
MEASURE RESEARCH.— 
(i) IN
GENERAL.—A biomedical re-
search corporation that elects the tax in-
VerDate Aug 31 2005 
03:55 Apr 13, 2006
Jkt 049196
PO 00000
Frm 00020
Fmt 6652
Sfmt 6201
E:\BILLS\H5115.IH
H5115
ccoleman on PROD1PC71 with BILLS
centive described in this subparagraph may 
establish a limited partnership organized 
primarily for research related to covered 
countermeasures, but only if such corpora-
tion is a qualified small business as deter-
mined under section 1202(d) of the Inter-
nal Revenue Code of 1986, by substituting 
‘‘$750,000,000’’ for ‘‘$50,000,000’’ each 
place it appears. For purposes of this sub-
paragraph, section 469 of such Code shall 
not apply with respect to a limited partner-
ship established under this subparagraph. 
(ii) COVERED
COUNTERMEASURE.— 
The term ‘‘covered countermeasure’’ has 
the meaning given such term in division C 
of the Department of Defense, Emergency 
Supplemental Appropriations to Address 
Hurricanes in the Gulf of Mexico, and 
Pandemic Influenza Act, 2006. 
(B) CAPITAL GAINS EXCLUSION FOR IN-
VESTORS
TO
FUND
COUNTERMEASURE
RE-
SEARCH.—A biomedical research corporation 
that elects the tax incentive described in this 
subparagraph may issue a class of stock for re-
search related to covered countermeasures (as 
VerDate Aug 31 2005 
03:55 Apr 13, 2006
Jkt 049196
PO 00000
Frm 00021
Fmt 6652
Sfmt 6201
E:\BILLS\H5115.IH
H5115
ccoleman on PROD1PC71 with BILLS
defined in subparagraph (A)(ii)) under section 
1202 of the Internal Revenue Code of 1986 
with the following modifications: 
(i) INCREASED EXCLUSION FOR NON-
CORPORATE
TAXPAYERS.—Subsection (a) 
of section 1202 of such Code shall be ap-
plied by substituting ‘‘100 percent’’ for 
‘‘50 percent’’. 
(ii) APPLICATION TO CORPORATE TAX-
PAYERS.—Subsection (a) of section 1202 
of such Code shall be applied without re-
gard to the phrase ‘‘other than a corpora-
tion’’. 
(iii) REDUCTION
IN
HOLDING
PE-
RIOD.—Subsection (a) of section 1202 of 
such Code shall be applied by substituting 
‘‘3 years’’ for ‘‘5 years’’. 
(iv) NONAPPLICATION OF PER-ISSUER 
LIMITATION.—Section 1202 of such Code 
shall be applied without regard to sub-
section (b) (relating to per-issuer limita-
tions on taxpayer’s eligible gain). 
(v) STOCK
OF
LARGER
BUSINESSES 
ELIGIBLE
FOR
EXCLUSION.—Paragraph 
(1) of section 1202(d) of such Code (defin-
VerDate Aug 31 2005 
03:55 Apr 13, 2006
Jkt 049196
PO 00000
Frm 00022
Fmt 6652
Sfmt 6201
E:\BILLS\H5115.IH
H5115
ccoleman on PROD1PC71 with BILLS
ing qualified small business) shall be ap-
plied by substituting ‘‘$750,000,000’’ for 
‘‘$50,000,000’’ each place it appears. 
(vi) MODIFICATION OF WORKING CAP-
ITAL LIMITATION.—Section 1202(e)(6) of 
such Code shall be applied— 
(I) in subparagraph (B), by sub-
stituting ‘‘5 years’’ for ‘‘2 years’’, and 
(II) without regard to the last 
sentence. 
(vii) NONAPPLICATION
OF
MINIMUM 
TAX PREFERENCE.—Section 57(a) of such 
Code (relating to general rule for items of 
tax preference) shall be applied without re-
gard to paragraph (7). 
(C) TAX
CREDIT
TO
FUND
COUNTER-
MEASURE
RESEARCH.—A biomedical research 
corporation that elects the tax incentive de-
scribed in this subparagraph may elect to apply 
the tax credit described in subsection (b). 
(2) REPORTING.—Each biomedical research 
corporation shall submit to the Secretary of the 
Treasury such information regarding its election of 
a tax incentive under this section as the Secretary 
determines necessary. 
VerDate Aug 31 2005 
03:55 Apr 13, 2006
Jkt 049196
PO 00000
Frm 00023
Fmt 6652
Sfmt 6201
E:\BILLS\H5115.IH
H5115
ccoleman on PROD1PC71 with BILLS
(b) TAX CREDIT TO FUND COUNTERMEASURE RE-
SEARCH.— 
(1) IN GENERAL.—Subpart D of part IV of 
subchapter A of chapter 1 (relating to business re-
lated credits) is amended by adding at the end the 
following new section: 
‘‘SEC. 45N. CREDIT FOR MEDICAL RESEARCH RELATED TO 
DEVELOPING COUNTERMEASURES. 
‘‘(a) GENERAL RULE.—For purposes of section 38, 
in the case of a biomedical research corporation that 
makes an election, pursuant to section 106(a) of the U.S. 
Healthcare Technologies Competitiveness Act of 2006, to 
have this section apply, the countermeasures research 
credit determined under this section for the taxable year 
is an amount equal to 35 percent of the eligible counter-
measures research expenses for the taxable year. 
‘‘(b) ELIGIBLE COUNTERMEASURES RESEARCH EX-
PENSES.—For purposes of this section— 
‘‘(1) ELIGIBLE COUNTERMEASURES RESEARCH 
EXPENSES.— 
‘‘(A) IN GENERAL.—Except as otherwise 
provided in this paragraph, the term ‘eligible 
countermeasures 
research 
expenses’ 
means 
amounts paid or incurred by the taxpayer dur-
ing the taxable year for research, including pre-
VerDate Aug 31 2005 
03:55 Apr 13, 2006
Jkt 049196
PO 00000
Frm 00024
Fmt 6652
Sfmt 6201
E:\BILLS\H5115.IH
H5115
ccoleman on PROD1PC71 with BILLS
clinical research and animal model development, 
which would be described in subsection (b) of 
section 41 if such subsection were applied with 
the modifications set forth in subparagraph (B) 
of this paragraph and that the Secretary of 
Health and Human Services determines has 
significant potential to lead to the development 
of a covered countermeasure. 
‘‘(B) MODIFICATIONS; INCREASED INCEN-
TIVE FOR CONTRACT RESEARCH PAYMENTS.— 
For purposes of subparagraph (A), subsection 
(b) of section 41 shall be applied— 
‘‘(i) by substituting ‘eligible counter-
measures research’ for ‘qualified research’ 
each place it appears in paragraphs (2) 
and (3) of such subsection, and 
‘‘(ii) by substituting ‘100 percent’ for 
‘65 percent’ in paragraph (3)(A) of such 
subsection. 
‘‘(C) EXCLUSION FOR AMOUNTS FUNDED 
BY GRANTS, ETC.—The term ‘eligible counter-
measures research expenses’ shall not include 
any amount to the extent such amount is fund-
ed by any grant, contract, or otherwise by an-
other person (or any governmental entity). 
VerDate Aug 31 2005 
03:55 Apr 13, 2006
Jkt 049196
PO 00000
Frm 00025
Fmt 6652
Sfmt 6201
E:\BILLS\H5115.IH
H5115
ccoleman on PROD1PC71 with BILLS
‘‘(2) COVERED COUNTERMEASURE.—The term 
‘covered countermeasure’ has the meaning given 
such term in division C of the Department of De-
fense, Emergency Supplemental Appropriations to 
Address Hurricanes in the Gulf of Mexico, and Pan-
demic Influenza Act, 2006. 
‘‘(c) COORDINATION WITH CREDIT FOR INCREASING 
RESEARCH EXPENDITURES.— 
‘‘(1) IN GENERAL.—Except as provided in para-
graph (2), any eligible countermeasures research ex-
penses for a taxable year shall not be taken into ac-
count for purposes of determining the credit allow-
able under section 41 for such taxable year. 
‘‘(2) EXPENSES
INCLUDED
IN
DETERMINING 
BASE PERIOD RESEARCH EXPENSES.—Any eligible 
countermeasures research expenses for any taxable 
year which are qualified research expenses (within 
the meaning of section 41(b)) shall be taken into ac-
count in determining base period research expenses 
for purposes of applying section 41 to subsequent 
taxable years. 
‘‘(d) COORDINATION WITH CREDIT FOR CLINICAL 
TESTING EXPENSES FOR CERTAIN DRUGS FOR RARE 
DISEASES.—Any eligible countermeasures research ex-
pense for a taxable year shall not be taken into account 
VerDate Aug 31 2005 
03:55 Apr 13, 2006
Jkt 049196
PO 00000
Frm 00026
Fmt 6652
Sfmt 6201
E:\BILLS\H5115.IH
H5115
ccoleman on PROD1PC71 with BILLS
for purposes of determining the credit allowable under sec-
tion 45C for such taxable year. 
‘‘(e) CERTAIN RULES MADE APPLICABLE.—Rules 
similar to the rules of paragraphs (1) and (2) of section 
41(f) shall apply for purposes of this section.’’. 
(2) INCLUSION IN GENERAL BUSINESS CRED-
IT.—Section 38(b) (as amended by this Act) is fur-
ther amended by striking ‘‘and’’ at the end of para-
graph (30), by striking the period at the end of 
paragraph (31) and inserting ‘‘, and’’, and by add-
ing at the end the following new paragraph: 
‘‘(32) the countermeasures research credit de-
termined under section 45N.’’. 
(3) DENIAL
OF
DOUBLE
BENEFIT.—Section 
280C (as amended by this Act) is further amended 
by adding at the end the following new subsection: 
‘‘(f) CREDIT FOR ELIGIBLE COUNTERMEASURES RE-
SEARCH EXPENSES.— 
‘‘(1) IN GENERAL.—No deduction shall be al-
lowed for that portion of the eligible counter-
measures research expenses (as defined in section 
45N(b)) otherwise allowable as a deduction for the 
taxable year which is equal to the amount of the 
credit determined for such taxable year under sec-
tion 45N(a). 
VerDate Aug 31 2005 
03:55 Apr 13, 2006
Jkt 049196
PO 00000
Frm 00027
Fmt 6652
Sfmt 6201
E:\BILLS\H5115.IH
H5115
ccoleman on PROD1PC71 with BILLS
‘‘(2) CERTAIN RULES TO APPLY.—Rules similar 
to the rules of paragraphs (2), (3), and (4) of sub-
section (c) shall apply for purposes of this sub-
section.’’. 
(4) DEDUCTION
FOR
UNUSED
PORTION
OF 
CREDIT.—Section 196(c) (as amended by this Act) 
is further amended by striking ‘‘and’’ at the end of 
paragraph (13), by striking the period at the end of 
paragraph (14) and inserting ‘‘, and’’, and by add-
ing at the end the following new paragraph: 
‘‘(15) the countermeasures research credit de-
termined under section 45N(a).’’. 
(5) TECHNICAL
AMENDMENT.—The table of 
sections for subpart D of part IV of subchapter A 
of chapter 1 is amended by adding at the end the 
following new item: 
‘‘Sec. 45N. Credit for medical research related to developing countermeasures.’’. 
SEC. 107. COUNTERMEASURES EQUITY TAX CREDIT. 
(a) IN GENERAL.—Subpart D of part IV of sub-
chapter A of chapter 1 (as amended by this Act) is further 
amended by adding at the end the following new section: 
‘‘SEC. 45O. COUNTERMEASURES EQUITY TAX CREDIT. 
‘‘(a) ALLOWANCE OF CREDIT.— 
‘‘(1) GENERAL RULE.—For purposes of section 
38, in the case of a taxpayer who holds a qualified 
countermeasures equity investment on a credit allow-
VerDate Aug 31 2005 
03:55 Apr 13, 2006
Jkt 049196
PO 00000
Frm 00028
Fmt 6652
Sfmt 6201
E:\BILLS\H5115.IH
H5115
ccoleman on PROD1PC71 with BILLS
ance date of such investment which occurs during 
the taxable year, the countermeasures equity tax 
credit determined under this section for such taxable 
year is an amount equal to the applicable percentage 
of the amount paid to the qualified countermeasures 
company solely in exchange for its stock at original 
issue. 
‘‘(2) APPLICABLE PERCENTAGE.—For purposes 
of paragraph (1), the applicable percentage is 40 
percent. 
‘‘(3) CREDIT ALLOWANCE DATE.—For purposes 
of paragraph (1), the term ‘credit allowance date’ 
means, with respect to any qualified counter-
measures equity investment— 
‘‘(A) the date on which such investment is 
initially made, and 
‘‘(B) each of the 3 subsequent anniversary 
dates of such date. 
‘‘(b) QUALIFIED COUNTERMEASURES EQUITY IN-
VESTMENT.—For purposes of this section— 
‘‘(1) IN GENERAL.—The term ‘qualified coun-
termeasures equity investment’ means any equity in-
vestment in a qualified countermeasures company 
if— 
VerDate Aug 31 2005 
03:55 Apr 13, 2006
Jkt 049196
PO 00000
Frm 00029
Fmt 6652
Sfmt 6201
E:\BILLS\H5115.IH
H5115
ccoleman on PROD1PC71 with BILLS
‘‘(A) such investment is acquired by the 
taxpayer at its original issue (directly or 
through an underwriter) solely in exchange for 
cash, 
‘‘(B) not less than 1⁄2 of such cash is used 
by the qualified countermeasures company with 
respect to research on covered countermeasures, 
and 
‘‘(C) such investment is designated for 
purposes of this section by the qualified coun-
termeasures company. 
Such term shall not include any equity investment 
issued by a qualified countermeasures company more 
than 5 years after the date that such company re-
ceives an allocation under subsection (d). Any alloca-
tion not used within such 5-year period may be re-
allocated by the Secretary under subsection (d). 
‘‘(2) LIMITATION.—The maximum amount of 
equity investments issued by a qualified counter-
measures company which may be designated under 
paragraph (1)(C) by such company shall not exceed 
the portion of the limitation amount allocated under 
subsection (d) to such company. 
‘‘(3) 
TREATMENT
OF
SUBSEQUENT
PUR-
CHASERS.—The term ‘qualified equity investment’ 
VerDate Aug 31 2005 
03:55 Apr 13, 2006
Jkt 049196
PO 00000
Frm 00030
Fmt 6652
Sfmt 6201
E:\BILLS\H5115.IH
H5115
ccoleman on PROD1PC71 with BILLS