3.0.0 2147 2023-01-11T13:39:22Z 2023-01-11T13:39:22Z Senate S 2017-11-16 115 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Hearings by 2018-01-30T15:00:04Z ssfi00 Finance Committee Senate Standing Referred to 2017-11-16T21:19:34Z Rehabilitation for Multiemployer Pensions Act 115 4444 HR 2017-11-16 Referred to the Committee on Education and the Workforce, and in addition to the Committees on Ways and Means, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Related bill CRS 2018-01-30 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-161. Committee 2017-11-16 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2017-11-16 Introduced in Senate IntroReferral 10000 9 Library of Congress B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH N S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2017-11-16 True M001183 Sen. Manchin, Joe, III [D-WV] Joseph Manchin D WV 2017-11-16 True H001069 Sen. Heitkamp, Heidi [D-ND] Heidi Heitkamp D ND 2017-11-16 True B001230 Sen. Baldwin, Tammy [D-WI] Tammy Baldwin D WI 2017-11-16 True M001170 Sen. McCaskill, Claire [D-MO] Claire McCaskill D MO 2017-11-16 True F000457 Sen. Franken, Al [D-MN] Al Franken D MN 2017-11-16 True K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN 2017-11-16 True D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2017-11-16 True P000595 Sen. Peters, Gary C. [D-MI] Gary Peters D MI 2017-11-16 True D000607 Sen. Donnelly, Joe [D-IN] Joe Donnelly D IN 2017-11-16 True D000622 Sen. Duckworth, Tammy [D-IL] Tammy Duckworth D IL 2017-11-16 True N000032 Sen. Nelson, Bill [D-FL] CLARENCE NELSON D FL WILLIAM 2017-12-01 False C001070 Sen. Casey, Robert P., Jr. [D-PA] Bob Casey D PA 2017-12-20 False S001203 Sen. Smith, Tina [D-MN] Tina Smith D MN 2018-01-18 False J000300 Sen. Jones, Doug [D-AL] Doug Jones D AL 2018-01-30 False S001181 Sen. Shaheen, Jeanne [D-NH] Jeanne Shaheen D NH 2018-01-30 False H001076 Sen. Hassan, Margaret Wood [D-NH] Maggie Hassan D NH 2018-02-14 False B001288 Sen. Booker, Cory A. [D-NJ] Cory Booker D NJ 2018-02-14 False W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. 2018-03-06 False H001042 Sen. Hirono, Mazie K. [D-HI] Mazie Hirono D HI K. 2018-03-14 False M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2018-04-24 False M000133 Sen. Markey, Edward J. [D-MA] Edward Markey D MA J. 2018-04-24 False W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI 2018-11-29 False H001075 Sen. Harris, Kamala D. [D-CA] Kamala Harris D CA D. 2018-11-29 False 2018-07-16T20:17:00Z Preliminary Analysis of S. 2147, the Butch-Lewis Act of 2017, as introduced https://www.cbo.gov/publication/54193 Letter to the Honorable Orrin G. Hatch 2018-10-11T15:38:02Z S. 2147, Butch Lewis Act of 2017 https://www.cbo.gov/publication/54563 Letter to the Honorable Jim Renacci Labor and Employment Accounting and auditing Department of the Treasury Employee benefits and pensions Executive agency funding and structure Federal officials Government lending and loan guarantees Government trust funds Securities Labor and Employment 00 2017-11-16 Introduced in Senate 2018-06-12T18:08:49Z Butch Lewis Act of 2017

This bill establishes the Pension Rehabilitation Administration within the Department of the Treasury and a related trust fund to make loans to certain multiemployer defined benefit pension plans.

To receive a loan, a plan must be either in critical and declining status (including any plan with respect to which a suspension of benefits has been approved) or insolvent, if the plan became insolvent after December 16, 2014, and has not been terminated.

Treasury must issue bonds to fund the loan program and transfer amounts equal to the proceeds to the trust fund established by this bill. The Pension Rehabilitation Administration may use the funds, without a further appropriation, to make loans, pay principal and interest on the bonds, or for administrative and operating expenses.

The bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to allow the sponsor of a multiemployer pension plan that is applying for a loan under this bill to also apply to the Pension Benefit Guaranty Corporation (PBGC) for financial assistance if, after receiving the loan, the plan will still become (or remain) insolvent within the 30-year period beginning on the date of the loan.

The bill also appropriates to the PBGC the funds that are necessary to provide the financial assistance required by this bill.

]]> Butch Lewis Act of 2017 Display Title Butch Lewis Act of 2017 Short Titles as Introduced Butch Lewis Act of 2017 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to create a Pension Rehabilitation Trust Fund to establish a Pension Rehabilitation Administration within the Department of the Treasury to make loans to multiemployer defined benefit plans, and for other purposes. Introduced in Senate 2017-11-16T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s2147is/xml/BILLS-115s2147is.xml 2018-01-30 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-161. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.