3.0.0 2254 2022-11-01T13:50:25Z 2022-11-01T13:50:25Z Senate S 2019-07-24 116 ssfi00 Finance Committee Senate Standing Referred to 2019-07-24T21:01:05Z Rehabilitation for Multiemployer Pensions Act of 2019 116 397 HR 2019-12-19 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 390. Related bill CRS 2019-07-24 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2019-07-24 Introduced in Senate IntroReferral 10000 9 Library of Congress B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH N B001230 Sen. Baldwin, Tammy [D-WI] Tammy Baldwin D WI 2019-07-24 True B001277 Sen. Blumenthal, Richard [D-CT] Richard Blumenthal D CT 2019-07-24 True B001288 Sen. Booker, Cory A. [D-NJ] Cory Booker D NJ 2019-07-24 True C001070 Sen. Casey, Robert P., Jr. [D-PA] Bob Casey D PA 2019-07-24 True D000622 Sen. Duckworth, Tammy [D-IL] Tammy Duckworth D IL 2019-07-24 True D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2019-07-24 True H001075 Sen. Harris, Kamala D. [D-CA] Kamala Harris D CA D. 2019-07-24 True H001076 Sen. Hassan, Margaret Wood [D-NH] Maggie Hassan D NH 2019-07-24 True H001046 Sen. Heinrich, Martin [D-NM] Martin Heinrich D NM T. 2019-07-24 True H001042 Sen. Hirono, Mazie K. [D-HI] Mazie Hirono D HI K. 2019-07-24 True J000300 Sen. Jones, Doug [D-AL] Doug Jones D AL 2019-07-24 True K000384 Sen. Kaine, Tim [D-VA] Timothy Kaine D VA M. 2019-07-24 True K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN 2019-07-24 True M001183 Sen. Manchin, Joe, III [D-WV] Joseph Manchin D WV 2019-07-24 True M000133 Sen. Markey, Edward J. [D-MA] Edward Markey D MA J. 2019-07-24 True M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2019-07-24 True P000595 Sen. Peters, Gary C. [D-MI] Gary Peters D MI 2019-07-24 True R000608 Sen. Rosen, Jacky [D-NV] Jacklyn Rosen D NV 2019-07-24 True S000033 Sen. Sanders, Bernard [I-VT] Bernard Sanders I VT 2019-07-24 True S000148 Sen. Schumer, Charles E. [D-NY] Charles Schumer D NY E. 2019-07-24 True S001181 Sen. Shaheen, Jeanne [D-NH] Jeanne Shaheen D NH 2019-07-24 True S001203 Sen. Smith, Tina [D-MN] Tina Smith D MN 2019-07-24 True S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2019-07-24 True V000128 Sen. Van Hollen, Chris [D-MD] Chris Van Hollen D MD 2019-07-24 True W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. 2019-07-24 True W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI 2019-07-24 True S001194 Sen. Schatz, Brian [D-HI] Brian Schatz D HI 2019-07-29 False C001113 Sen. Cortez Masto, Catherine [D-NV] Catherine Cortez Masto D NV 2019-07-29 False C001088 Sen. Coons, Christopher A. [D-DE] Christopher Coons D DE A. 2019-09-19 False K000383 Sen. King, Angus S., Jr. [I-ME] Angus King I ME S. 2019-09-26 False W000805 Sen. Warner, Mark R. [D-VA] Mark Warner D VA R. 2019-10-16 False G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2019-10-31 False C001035 Sen. Collins, Susan M. [R-ME] Susan Collins R ME M. 2019-11-05 False R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. 2019-11-05 False M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ 2019-11-07 False T000464 Sen. Tester, Jon [D-MT] Jon Tester D MT 2019-12-05 False L000174 Sen. Leahy, Patrick J. [D-VT] Patrick Leahy D VT 2019-12-18 False U000039 Sen. Udall, Tom [D-NM] TOM UDALL D NM 2020-02-24 False F000062 Sen. Feinstein, Dianne [D-CA] Dianne Feinstein D CA 2020-03-11 False Labor and Employment Accounting and auditing Appropriations Department of the Treasury Employee benefits and pensions Executive agency funding and structure Federal officials Government lending and loan guarantees Government trust funds Interest, dividends, interest rates Pension Benefit Guaranty Corporation Securities Labor and Employment 00 2019-07-24 Introduced in Senate 2019-11-05T20:04:20Z Butch Lewis Act of 2019

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 2019 Display Title Butch Lewis Act of 2019 Short Title(s) as Introduced Butch Lewis Act of 2019 Introduced in Senate IS 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 IS Introduced in Senate 2019-07-24T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s2254is/xml/BILLS-116s2254is.xml 2019-07-24 Read twice and referred to the Committee on Finance. 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.