[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 1663 Introduced in Senate (IS)]

111th CONGRESS
  1st Session
                                S. 1663

 To make available funds from the Emergency Economic Stabilization Act 
of 2008 for funding a voluntary employees' beneficiary association with 
           respect to former employees of Delphi Corporation.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 11, 2009

   Mr. Brown introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
 To make available funds from the Emergency Economic Stabilization Act 
of 2008 for funding a voluntary employees' beneficiary association with 
           respect to former employees of Delphi Corporation.

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

SECTION 1. DELPHI CORPORATION VEBA.

    (a) Funding of VEBA.--
            (1) In general.--To the extent of the funding made 
        available under subsection (b), the Secretary of the Treasury 
        shall enter into an agreement with a volunteer employees' 
        beneficiary association (within the meaning of section 
        501(a)(9) of the Internal Revenue Code of 1986) that is 
        established--
                    (A) after the date of the enactment of this Act, 
                and
                    (B) for the benefit of eligible separated employees 
                (and their dependents),
        to transfer amounts to such association for purposes of 
        establishing, or obtaining coverage under, a health care plan 
        for the benefit of such employees (and dependents).
            (2) Eligible separated employee.--For purposes of this 
        section, the term ``eligible separated employee'' means any 
        individual--
                    (A) who is separated from employment with Delphi 
                Corporation before the date of the enactment of this 
                Act, and
                    (B) with respect to whom the obligation of Delphi 
                Corporation or General Motors Corporation to provide 
                health care coverage has been discharged in a 
                proceeding under title 11, United States Code.
    (b) Funding.--Of the amounts made available under title I of the 
Emergency Economic Stabilization Act of 2008 (Public Law 110-343; 12 
U.S.C. 5201 et seq.), the Secretary of the Treasury shall make 
available such amounts as are necessary to provide (to the extent 
practicable) health care coverage that is substantially the same as the 
coverage the obligation for which was so discharged, but not to exceed 
$3,000,000,000. Such amount shall be treated as having been made 
available for activities authorized by such Act.
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