II 111th CONGRESS 1st Session S. 1663 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.

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.