[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 1507 Introduced in Senate (IS)]

111th CONGRESS
  1st Session
                                S. 1507

 To amend chapter 89 of title 5, United States Code, to reform Postal 
    Service retiree health benefits funding, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 23, 2009

  Mr. Carper introduced the following bill; which was read twice and 
referred to the Committee on Homeland Security and Governmental Affairs

_______________________________________________________________________

                                 A BILL


 
 To amend chapter 89 of title 5, United States Code, to reform Postal 
    Service retiree health benefits funding, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Postal Service Retiree Health 
Benefits Funding Reform Act of 2009''.

SEC. 2. GOVERNMENT CONTRIBUTIONS.

    Section 8906(g)(2)(A) of title 5, United States Code, is amended by 
striking ``shall through September 30, 2016, be paid by the United 
States Postal Service, and thereafter''.

SEC. 3. POSTAL SERVICE RETIREE HEALTH BENEFITS FUND.

    Section 8909a of title 5, United States Code, is amended--
            (1) in the section heading, by striking ``Benefit'' and 
        inserting ``Benefits''; and
            (2) in subsection (d)--
                    (A) in paragraph (2)(B)--
                            (i) by striking ``2017'' and inserting 
                        ``2020''; and
                            (ii) by striking ``2056'' and inserting 
                        ``2059'';
                    (B) in paragraph (3)--
                            (i) by striking the matter preceding 
                        subparagraph (B) and inserting the following:
            ``(3)(A) The United States Postal Service shall pay into 
        such Fund--
                    ``(i) $5,400,000,000, not later than September 30, 
                2007;
                    ``(ii) $5,600,000,000, not later than September 30, 
                2008;
                    ``(iii) $1,700,000,000, not later than September 
                30, 2009;
                    ``(iv) $1,700,000,000, not later than September 30, 
                2010;
                    ``(v) $3,100,000,000, not later than September 30, 
                2011;
                    ``(vi) $3,900,000,000, not later than September 30, 
                2012;
                    ``(vii) $4,100,000,000, not later than September 
                30, 2013;
                    ``(viii) $4,300,000,000, not later than September 
                30, 2014;
                    ``(ix) $4,500,000,000, not later than September 30, 
                2015;
                    ``(x) $4,700,000,000, not later than September 30, 
                2016;
                    ``(xi) $4,900,000,000, not later than September 30, 
                2017;
                    ``(xii) $5,100,000,000, not later than September 
                30, 2018; and
                    ``(xiii) $5,300,000,000, not later than September 
                30, 2019.'';
                            (ii) by redesignating subparagraph (B) as 
                        subparagraph (C), and inserting after 
                        subparagraph (A) the following:
                    ``(B) Not later than September 30, 2009, and by 
                September 30 of each succeeding year through 2019, the 
                United States Postal Service shall pay into such Fund 
                the net present value computed under paragraph (1).''; 
                and
                            (iii) in subparagraph (C) (as redesignated 
                        in this subparagraph), by striking ``2017'' and 
                        inserting ``2020''; and
                    (C) in paragraph 4, by striking ``financial 
                reporting under subchapter II of chapter 35 of title 
                31'' and inserting ``valuations under chapter 84''.

SEC. 4. TEMPORARY INCREASE TO POSTAL SERVICE BORROWING LIMITATIONS.

    (a) In General.--For fiscal years 2009 and 2010, section 2005(a) of 
title 39, United States Code, shall be applied by substituting 
``$5,000,000,000'' for the limitation specified in paragraph (1).
    (b) Maximum Amount Limitation and Repayment.--Any amount borrowed 
under the increase in borrowing authority provided under subsection (a) 
of this section--
            (1) shall not apply to the maximum amount allowable under 
        section 2005(a)(2) of title 39, United States Code; and
            (2) shall be repaid by the Postal Service to the United 
        States Treasury by not later than the end of fiscal year 2019.

SEC. 5. EFFECTIVE DATE AND APPLICATION.

    (a) In General.--This Act, including the amendments made by this 
Act, shall be effective as of October 1, 2008.
    (b) Application to Fiscal Year 2009 Payments.--Any payments made by 
the Postal Service under section 8906(g)(2)(A) of title 5, United 
States Code, for which the Postal Service is not obligated to pay by 
reason of the amendment made by section 2 of this Act shall be credited 
against the payments due by September 30, 2009, under section 
8909a(d)(3) of title 5, United States Code, as amended by this Act.
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