American Miners Pension Act of 2017 2017-10-03 Introduced in House American Miners Pension Act of 2017

This bill amends the Surface Mining Control and Reclamation Act of 1977 (SMCRA) to transfer certain funds and provide loans to the 1974 United Mine Workers of America (UMWA) Pension Plan in order to provide pension benefits for retired coal miners.

The bill requires the Department of the Treasury to transfer additional funds from the Abandoned Mine Reclamation Fund and the General Fund of the Treasury to the 1974 UMWA Pension Plan to pay pension benefits required under that plan if the amounts available for transfer under SMCRA's $490 million annual limit exceed the amounts required to be transferred for other purposes (including to the UMWA Health Plans). The bill prohibits the plan from making certain changes to benefits during any year in which a transfer is received.

Treasury must make annual loans to the plan equal to the amount certified by the trustees of the plan as necessary to prevent insolvency. The loans may not exceed $600 million per year. The trustees must annually certify that the plan is projected to be solvent and is able to repay the loans under terms specified in the bill.

The bill also establishes additional reporting requirements for the plan.

]]> 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 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.