12 2 STA T .39 2 0PUBLIC LA W 110 – 3 4 3 —O CT. 3 , 200 8(5)Bysub s ti tuti ng t hefol lo w ing fo r sub pa ragraph ( A )of paragraph ( 3 )
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‘(A) A G G RE G AT EA MOUN T D E SI GNATED .—T he m a x imum aggregate fa c e amount of bon d s which may be designated under this subsection with respect to any S tate shall not exceed the product of $2,0 00 multiplied by the portion of the State population which is in— ‘‘(i) in the case of Texas, the counties of Bra z oria, C hambers, G al v eston, J efferson, and O range, and ‘‘(ii) in the case of L ouisiana, the parishes of Calcasieu and Cameron, (as determined on the basis of the most recent census estimate of resident population released by the Bureau of Census before September 1 3, 200 8 ). ’ ’. ( 6 ) By substituting ‘‘ q ualified H urricane Ik e disaster area repair or construction’’ for ‘‘qualified GO Z one repair or construction’’ each place it appears. ( 7 ) By substituting ‘‘after the date of the enactment of the Heartland D isaster Tax R elief Act of 2008 and before January 1, 2013’’ for ‘‘after the date of the enactment of this paragraph and before January 1, 2011’’ in paragraph (7)(C). (8) By disregarding paragraph (8) thereof. ( 9 ) By substituting ‘‘any Hurricane Ike disaster area’’ for ‘‘the Gulf Opportunity Zone’’ each place it appears. (b) LO W- IN C OME HOUSING CREDIT.—Section 1 4 00 N (c) of the Internal Revenue Code of 1986 shall apply to any Hurricane Ike disaster area in addition to any other area referenced in such section, but with the following modifications: (1) Only with respect to calendar years 2008, 2009, and 2010. (2) By substituting ‘‘any Hurricane Ike disaster area’’ for ‘‘the Gulf Opportunity Zone’’ each place it appears. (3) By substituting ‘‘Hurricane Ike Recovery Assistance housing amount’’ for ‘‘Gulf Opportunity housing amount’’ each place it appears. (4) By substituting the following for subparagraph (B) of paragraph (1): ‘‘(B) HURRICANE I K E H OUSING AMOUNT.— F or purposes of subparagraph (A), the term ‘Hurricane Ike housing amount’ means, for any calendar year, the amount equal to the product of $16.00 multiplied by the portion of the State population which is in— ‘‘(i) in the case of Texas, the counties of Brazoria, Chambers, Galveston, Jefferson, and Orange, and ‘‘(ii) in the case of Louisiana, the parishes of Calcasieu and Cameron, (as determined on the basis of the most recent census estimate of resident population released by the Bureau of Census before September 13, 2008).’’. (5) Determined without regard to paragraphs (2), (3), (4), (5), and (6) thereof. (c) HURRICANE IKE DISASTER AREA.—For purposes of this sec- tion and for applying the substitutions described in subsections (a) and (b), the term ‘‘Hurricane Ike disaster area’’ means an area in the State of Texas or Louisiana— (1) with respect to which a ma j or disaster has been declared by the P resident on September 13, 2008, under section 401 Louis i an a .Tex as. Ap p l i c a b ili ty . Louisiana. Texas.
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