II 108th CONGRESS 2d Session S. 2928 IN THE SENATE OF THE UNITED STATES October 7, 2004 Mr. Smith (for himself and Mr. Wyden) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To clarify the status of certain employee benefit plans under the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974.

1.

Clarification of status of certain employee benefit plans

Any plan established and maintained for its employees by a non-profit corporation which was— (1)incorporated on September 16, 1998, under a State non-profit corporation statute, and (2)organized for the express purpose of supporting the missions and goals of a public corporation which— (A)was created by a State statute approved by the Governor on May 24, 1995, and effective on July 1, 1995, (B)is a government entity under State law, and (C)is a member of the non-profit corporation, shall be considered to be a governmental plan within the meaning of section 414(d) of the Internal Revenue Code of 1986 and section 3(32) of the Employee Retirement Income Security Act of 1974.