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<bill bill-stage="Introduced-in-Senate" public-private="public">
	<form>
		<distribution-code display="yes">II</distribution-code>
		<congress>112th CONGRESS</congress>
		<session>1st Session</session>
		<legis-num>S. 1286</legis-num>
		<current-chamber>IN THE SENATE OF THE UNITED STATES</current-chamber>
		<action>
			<action-date date="20110628">June 28, 2011</action-date>
			<action-desc><sponsor name-id="S309">Mr. Casey</sponsor> (for himself
			 and <cosponsor name-id="S307">Mr. Brown of Ohio</cosponsor>) introduced the
			 following bill; which was read twice and referred to the
			 <committee-name committee-id="SSFI00">Committee on
			 Finance</committee-name></action-desc>
		</action>
		<legis-type>A BILL</legis-type>
		<official-title>To extend trade adjustment assistance, and for other
		  purposes. </official-title>
	</form>
	<legis-body>
		<section id="id8C59F699360A4942A4A1400FD18BE341" section-type="section-one"><enum>1.</enum><header>Short title</header><text display-inline="no-display-inline">This Act may be cited as the
			 <quote><short-title>Trade Adjustment Assistance Extension
			 Act of 2011</short-title></quote>.</text>
		</section><title id="idB313BA12AA714244AFE1EF480FD217A8"><enum>I</enum><header>Extension of
			 Trade Adjustment Assistance</header>
			<section id="id4A32DAC0F1404989BB3C1897983B9C3E" section-type="subsequent-section"><enum>101.</enum><header>Extension of Trade
			 Adjustment Assistance</header>
				<subsection id="id66E8864B1AEA4D0898319580DEE9491D"><enum>(a)</enum><header>In
			 general</header><text>Section 1893 of the Trade and Globalization Adjustment
			 Assistance Act of 2009 (Public Law 111–5; 123 Stat. 422) is repealed.</text>
				</subsection><subsection id="idEC84DEA3CFE34ED587BF0EFC792C43E8"><enum>(b)</enum><header>Conforming
			 amendments</header>
					<paragraph id="id08C81B0EAAA0467194FABB4D4CE35D6E"><enum>(1)</enum><text>Section
			 236(a)(2)(A) of the Trade Act of 1974 (19 U.S.C. 2296(a)(2)(A)) (as in effect
			 on February 12, 2011) is amended by striking <quote>shall not exceed—</quote>
			 and all that follows and inserting <quote>shall not exceed $575,000,000 for
			 each of the fiscal years 2011 through 2016, and $143,750,000 for the 3-month
			 period beginning on October 1, 2016, and ending on December 31,
			 2016.</quote>.</text>
					</paragraph><paragraph id="id9A5C1671963A42A28F7DC4CF8EF99763"><enum>(2)</enum><text>Section 245(a) of
			 the Trade Act of 1974 (19 U.S.C. 2317(a)) (as in effect on February 12, 2011)
			 is amended by striking <quote>February 12, 2011</quote> and inserting
			 <quote>December 31, 2016</quote>.</text>
					</paragraph><paragraph commented="no" id="idB267BB551AD34DFBB6B5A5AE24358EDD"><enum>(3)</enum><text display-inline="yes-display-inline">Section 246(b)(1) of the Trade Act of 1974
			 (19 U.S.C. 2318(b)(1)) (as in effect on February 12, 2011) is amended by
			 striking <quote>February 12, 2011</quote> and inserting <quote>December 31,
			 2016</quote>.</text>
					</paragraph><paragraph id="id7579D5484BC049F9833645CBEFEC9DB5"><enum>(4)</enum><text>Section 255(a) of
			 the Trade Act of 1974 (19 U.S.C. 2345(a)) (as in effect on February 12, 2011)
			 is amended by striking <quote>for fiscal year 2010</quote> and all that follows
			 and inserting <quote>for each of the fiscal years 2011 through 2016, and
			 $12,500,000 for the 3-month period beginning on October 1, 2016, and ending on
			 December 31, 2016. Amounts appropriated pursuant to this subsection shall
			 remain available until expended.</quote>.</text>
					</paragraph><paragraph id="idC6509AB41EFF4CB8B18DBF13BD8AC165"><enum>(5)</enum><text>Section 275(f) of
			 the Trade Act of 1974 (19 U.S.C. 2371d(f)) (as in effect on February 12, 2011)
			 is amended by striking <quote>December 15 in each of the calendar years 2009
			 through</quote> and inserting <quote>December 15, 2009,</quote>.</text>
					</paragraph><paragraph id="id6BABEB709A174846BE446A2FABC4B6FD"><enum>(6)</enum><text>Section 276(c)(2)
			 of the Trade Act of 1974 (19 U.S.C. 2371e(c)(2)) (as in effect on February 12,
			 2011) is amended by striking <quote>not more than—</quote> and all that follows
			 and inserting <quote>not more than $25,000,000 for each of the fiscal years
			 2011 through 2016, and $6,250,000 for the 3-month period beginning on October
			 1, 2016, and ending on December 31, 2016.</quote>.</text>
					</paragraph><paragraph id="idDDE5C0711B60493D9B86E4ED550F5FDB"><enum>(7)</enum><text>Section 277(c) of
			 the Trade Act of 1974 (19 U.S.C. 2371f(c)) (as in effect on February 12, 2011)
			 is amended—</text>
						<subparagraph id="idA7B0C7D11EF34E9B8112BB5CC1CD299A"><enum>(A)</enum><text>in paragraph (1),
			 by striking <quote>this subchapter—</quote> and all that follows and inserting
			 <quote>this subchapter $150,000,000 for each of the fiscal years 2011 through
			 2016, and $37,500,000 for the 3-month period beginning on October 1, 2016, and
			 ending on December 31, 2016.</quote>; and</text>
						</subparagraph><subparagraph id="id1ACF9FFBFC6049B6B93ED8F50B4D62EE"><enum>(B)</enum><text display-inline="yes-display-inline">by striking paragraph (2) and inserting the
			 following:</text>
							<quoted-block display-inline="no-display-inline" id="idB5EBF757837A442C9A6E1F0BEDDA7290" style="OLC">
								<paragraph commented="no" display-inline="no-display-inline" id="ID35C84A04587A46DD9C09C52C969F0D2F"><enum>(2)</enum><header display-inline="yes-display-inline">Availability</header><text display-inline="yes-display-inline">Amounts appropriated pursuant to this
				subchapter shall remain available until
				expended.</text>
								</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
						</subparagraph></paragraph><paragraph commented="no" id="id7B2FC9841B0647FCB924C6125F4C988B"><enum>(8)</enum><text>Section 278(e) of
			 the Trade Act of 1974 (19 U.S.C. 2372(e)) (as in effect on February 12, 2011)
			 is amended by striking <quote>December 15 in each of the calendar years 2009
			 through</quote> and inserting <quote>December 15, 2009,</quote>.</text>
					</paragraph><paragraph commented="no" id="idAE6455BB8F814B398609618E3D75235C"><enum>(9)</enum><text display-inline="yes-display-inline">Section 279A(h)(2) of the Trade Act of 1974
			 (19 U.S.C. 2373(h)(2)) (as in effect on February 12, 2011) is amended by
			 striking <quote>December 15 in each of the calendar years 2009 through</quote>
			 and inserting <quote>December 15, 2009,</quote>.</text>
					</paragraph><paragraph id="idA390BCBF17774B40A059B58A0924E7D5"><enum>(10)</enum><text>Section
			 279B(a)(1) of the Trade Act of 1974 (19 U.S.C. 2373a(a)(1)) (as in effect on
			 February 12, 2011) is amended by striking <quote>section 279A—</quote> and all
			 that follows and inserting <quote>section 279A $40,000,000 for each of the
			 fiscal years 2011 through 2016, and $10,000,000 for the 3-month period
			 beginning on October 1, 2016, and ending on December 31, 2016.</quote>.</text>
					</paragraph><paragraph commented="no" id="id2B78A37059DB43D2A766EF745EED15B3"><enum>(11)</enum><text display-inline="yes-display-inline">Section 285 of the Trade Act of 1974 (19
			 U.S.C. 2271 note) (as in effect on February 12, 2011) is amended to read as
			 follows:</text>
						<quoted-block display-inline="no-display-inline" id="idE5C5B432E9C04615A1E2FF204D412450" style="OLC">
							<section commented="no" display-inline="no-display-inline" id="IDDAF39B231339412FB2AEEC6238487AFA" section-type="subsequent-section"><enum>285.</enum><header display-inline="yes-display-inline">Termination</header>
								<subsection commented="no" display-inline="no-display-inline" id="ID70FD54BD32CF47DF9E8FF436FB3D8C7D"><enum>(a)</enum><header>Assistance for
				workers</header>
									<paragraph id="ID845234A5AEA1461286ACA9613819AAD6"><enum>(1)</enum><header>In
				general</header><text>Except as provided in paragraph (2), trade adjustment
				assistance, vouchers, allowances, and other payments or benefits may not be
				provided under chapter 2 after December 31, 2016.</text>
									</paragraph><paragraph id="ID69BC3C51D74548529C1CBE56E7E9B5F6"><enum>(2)</enum><header>Exception</header><text>Notwithstanding
				paragraph (1), a worker shall continue to receive trade adjustment assistance
				benefits and other benefits under chapter 2 for any week for which the worker
				meets the eligibility requirements of that chapter if the worker is—</text>
										<subparagraph id="IDE94C7D3254104FD88D9A3A5D28674452"><enum>(A)</enum><text>certified as
				eligible for trade adjustment assistance benefits under chapter 2 pursuant to a
				petition filed under section 221 on or before December 31, 2016; and</text>
										</subparagraph><subparagraph id="ID4DA99BBB5E8042458BA27ADB571A3F60"><enum>(B)</enum><text>otherwise
				eligible to receive trade adjustment assistance benefits under chapter
				2.</text>
										</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="IDEC860228981C453E97555AF96E5B1ABF"><enum>(b)</enum><header>Other
				assistance</header>
									<paragraph id="ID59CA5183DE6F439D85D9EBF9A4D8A255"><enum>(1)</enum><header>Assistance for
				firms</header>
										<subparagraph id="IDF4B1A9A04B324FD89AE59D7B46C9ACE4"><enum>(A)</enum><header>In
				general</header><text>Except as provided in subparagraph (B), technical
				assistance and grants may not be provided under chapter 3 after December 31,
				2016.</text>
										</subparagraph><subparagraph id="ID02EFB351501649768D2FA611E6694DB6"><enum>(B)</enum><header>Exception</header><text>Notwithstanding
				subparagraph (A), any technical assistance or grant approved under chapter 3
				pursuant to a petition filed under section 251 on or before December 31, 2016,
				may be provided—</text>
											<clause id="ID3BA70994E0B94FD48D7C94BDAFC72A68"><enum>(i)</enum><text>to the extent
				funds are available pursuant to such chapter for such purpose; and</text>
											</clause><clause id="ID866FDE717B56451889C1963FC030474A"><enum>(ii)</enum><text>to the extent
				the recipient of the technical assistance or grant is otherwise eligible to
				receive such technical assistance or grant, as the case may be.</text>
											</clause></subparagraph></paragraph><paragraph id="ID32F7B301B268416EB9D409B0B9F008BC"><enum>(2)</enum><header>Farmers</header>
										<subparagraph id="IDBFF46DFEE1E74A53BF6E5A5E2BCA4B5E"><enum>(A)</enum><header>In
				general</header><text>Except as provided in subparagraph (B), technical
				assistance and financial assistance may not be provided under chapter 6 after
				December 31, 2016.</text>
										</subparagraph><subparagraph id="ID4D00CC7E2FCB46DB8700E0AEDB19483E"><enum>(B)</enum><header>Exception</header><text>Notwithstanding
				subparagraph (A), any technical or financial assistance approved under chapter
				6 pursuant to a petition filed under section 292 on or before December 31,
				2016, may be provided—</text>
											<clause id="IDAEC9D9B731D3453AA48645F7DDB48E99"><enum>(i)</enum><text>to the extent
				funds are available pursuant to such chapter for such purpose; and</text>
											</clause><clause id="ID07FAF5B8B0F248E68F03E8147D697596"><enum>(ii)</enum><text>to the extent
				the recipient of the technical or financial assistance is otherwise eligible to
				receive such technical or financial assistance, as the case may be.</text>
											</clause></subparagraph></paragraph><paragraph id="IDE7EAF7D420924CA1B2BD9C341F695B38"><enum>(3)</enum><header>Assistance for
				communities</header>
										<subparagraph id="ID3EF69EBFB22449F98B70C4D7C248942E"><enum>(A)</enum><header>In
				general</header><text>Except as provided in subparagraph (B), technical
				assistance and grants may not be provided under chapter 4 after December 31,
				2016.</text>
										</subparagraph><subparagraph id="ID22874CE588894AEAB43CF1955DD7C906"><enum>(B)</enum><header>Exception</header><text>Notwithstanding
				subparagraph (A), any technical assistance or grant approved under chapter 4
				pursuant to a petition filed under section 273, or a grant proposal submitted
				under section 278 or 279A, on or before December 31, 2016, may be
				provided—</text>
											<clause id="ID866B7AA53AE04136B36250A18B340CE2"><enum>(i)</enum><text>to the extent
				funds are available pursuant to such chapter for such purpose; and</text>
											</clause><clause id="ID68DC6EB508554EAAB15778EF8BE70FE0"><enum>(ii)</enum><text>to the extent
				the recipient of the technical assistance or grant is otherwise eligible to
				receive such technical assistance or grant, as the case may
				be.</text>
											</clause></subparagraph></paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
					</paragraph><paragraph id="id41ECFFAC3FF247CF9A944BD97C6A4618"><enum>(12)</enum><text>Section 298(a)
			 of the Trade Act of 1974 (19 U.S.C. 2401g(a)) (as in effect on February 12,
			 2011) is amended by striking <quote>$10,400,000 for the 6-week period beginning
			 January 1, 2011, and ending February 12, 2011,</quote> and inserting
			 <quote>$90,000,000 for each of the fiscal years 2011 through 2016, and
			 $22,500,000 for the 3-month period beginning on October 1, 2016, and ending on
			 December 31, 2016</quote>.</text>
					</paragraph></subsection></section><section id="idEBBA6D00BAB7418E98F3DA2C88B15D26"><enum>102.</enum><header>Effective
			 date</header><text display-inline="no-display-inline">The amendments made by
			 section 101—</text>
				<paragraph id="IDe09632fb2f174718b8046f396acc97fb"><enum>(1)</enum><text>shall take effect
			 on the date of the enactment of this Act; and</text>
				</paragraph><paragraph id="ID44b87c411e9e4c00a661d24bb49a1ebc"><enum>(2)</enum><text>shall apply
			 to—</text>
					<subparagraph id="IDcb41f3b94fd245dda5c57efdceaa5cbf"><enum>(A)</enum><text>petitions for
			 certification filed under chapter 2, 3, or 6 of title II of the Trade Act of
			 1974 on or after such date of enactment; and</text>
					</subparagraph><subparagraph id="ID40bca4c088a9411f8baa5d618577d37f"><enum>(B)</enum><text>petitions for
			 assistance and proposals for grants filed under chapter 4 of title II of the
			 Trade Act of 1974 on or after such date of enactment.</text>
					</subparagraph></paragraph></section></title><title id="id335706EB4EFE485E9108370EE340D4BF"><enum>II</enum><header>Health coverage
			 improvement</header>
			<section id="HF1A3F53BF1E14AF68B07DE8DC18044BB"><enum>201.</enum><header>Improvement of
			 the affordability of the credit</header>
				<subsection id="H340B5324FE7B458691A314A261376841"><enum>(a)</enum><header>In
			 general</header><text>Section 35(a) of the Internal Revenue Code of 1986 is
			 amended by striking <quote>February 13, 2011</quote> and inserting
			 <quote>January 1, 2017</quote>.</text>
				</subsection><subsection id="HE246FD90498C421891C6D537021FD228"><enum>(b)</enum><header>Conforming
			 amendment</header><text>Section 7527(b) of such Code is amended by striking
			 <quote>February 13, 2011</quote> and inserting <quote>January 1,
			 2017</quote>.</text>
				</subsection><subsection commented="no" id="H8A551099A8E54E08A6A1FB57F6CB3DBA"><enum>(c)</enum><header>Effective
			 date</header><text>The amendments made by this section shall apply to coverage
			 months beginning after February 12, 2011.</text>
				</subsection></section><section id="H8C8A3219EDB74A9CAB8357A2630D9696"><enum>202.</enum><header>Payment for the
			 monthly premiums paid prior to commencement of the advance payments of
			 credit</header>
				<subsection id="HF5DB990031E8426F977969609CA5946F"><enum>(a)</enum><header>In
			 general</header><text>Section 7527(e) of the Internal Revenue Code of 1986 is
			 amended by striking <quote>February 13, 2011</quote> and inserting
			 <quote>January 1, 2017</quote>.</text>
				</subsection><subsection id="H6F2B2ED671CF49EE8FC9F79B1BDC75EE"><enum>(b)</enum><header>Effective
			 date</header><text>The amendment made by this section shall apply to coverage
			 months beginning after February 12, 2011.</text>
				</subsection></section><section id="H091942D831744E55984B4235990F9986"><enum>203.</enum><header>TAA recipients
			 not enrolled in training programs eligible for credit</header>
				<subsection id="H5E3F64D7792E4ACBAB16AE3FFCEDFA18"><enum>(a)</enum><header>In
			 general</header><text>Section 35(c)(2)(B) of the Internal Revenue Code of 1986
			 is amended by striking <quote>February 13, 2011</quote> and inserting
			 <quote>January 1, 2017</quote>.</text>
				</subsection><subsection id="H5220FAB480BE47C18C70F92F54E3BDD1"><enum>(b)</enum><header>Effective
			 date</header><text>The amendment made by this section shall apply to coverage
			 months beginning after February 12, 2011.</text>
				</subsection></section><section id="HE2BFE6B2967C4BF6BC78F2DE17840F62"><enum>204.</enum><header>TAA
			 pre-certification period rule for purposes of determining whether there is a
			 63-day lapse in creditable coverage</header>
				<subsection id="H4852D94F15314111A43FFC3CDF7B2775"><enum>(a)</enum><header>IRC
			 amendment</header><text>Section 9801(c)(2)(D) of the Internal Revenue Code of
			 1986 is amended by striking <quote>February 13, 2011</quote> and inserting
			 <quote>January 1, 2017</quote>.</text>
				</subsection><subsection id="H6156B32CBBE04509A0C92E916EA29915"><enum>(b)</enum><header>ERISA
			 amendment</header><text>Section 701(c)(2)(C) of the Employee Retirement Income
			 Security Act of 1974 (29 U.S.C. 1181(c)(2)(C)) is amended by striking
			 <quote>February 13, 2011</quote> and inserting <quote>January 1,
			 2017</quote>.</text>
				</subsection><subsection id="H0B23D795FA684C4AA374569E94C3373E"><enum>(c)</enum><header>PHSA
			 amendment</header><text>Section 2701(c)(2)(C) of the Public Health Service Act
			 (as in effect for plan years beginning before January 1, 2014 (42 U.S.C. 300gg
			 note)) is amended by striking <quote>February 13, 2011</quote> and inserting
			 <quote>January 1, 2017</quote>.</text>
				</subsection><subsection id="H8680508F27F94EACBF45475BBD6CA8BC"><enum>(d)</enum><header>Effective
			 date</header><text>The amendments made by this section shall apply to plan
			 years beginning after February 12, 2011.</text>
				</subsection></section><section id="H89E52BA80984413BBD2B384F393F82BA"><enum>205.</enum><header>Continued
			 qualification of family members after certain events</header>
				<subsection id="HEFA0633DBC624DABB04B39DB9505768D"><enum>(a)</enum><header>In
			 general</header><text display-inline="yes-display-inline">Section 35(g)(9) of
			 the Internal Revenue Code of 1986, as added by section 1899E(a) of the American
			 Recovery and Reinvestment Tax Act of 2009 (relating to continued qualification
			 of family members after certain events), is amended by striking <quote>February
			 13, 2011</quote> and inserting <quote>January 1, 2017</quote>.</text>
				</subsection><subsection id="H12CA57C102B843BC911783AE14EE7EC2"><enum>(b)</enum><header>Conforming
			 amendment</header><text>Section 173(f)(8) of the Workforce Investment Act of
			 1998 (29 U.S.C. 2918(f)(8)) is amended by striking <quote>February 13,
			 2011</quote> and inserting <quote>January 1, 2017</quote>.</text>
				</subsection><subsection id="HDEB455805F3D44FEA769ED8864A888EC"><enum>(c)</enum><header>Effective
			 date</header><text>The amendments made by this section shall apply to months
			 beginning after February 12, 2011.</text>
				</subsection></section><section id="HF4D7D7518911496A830F035F69C33FDE"><enum>206.</enum><header>Extension of
			 COBRA benefits for certain TAA-eligible individuals and PBGC
			 recipients</header>
				<subsection id="H0E6AB189E7B64359835A12C75EA53B1A"><enum>(a)</enum><header>ERISA
			 amendments</header>
					<paragraph id="H97B1DDFD615647DEBF2B719B70BC25DC"><enum>(1)</enum><header>PBGC
			 recipients</header><text>Section 602(2)(A)(v) of the Employee Retirement Income
			 Security Act of 1974 (29 U.S.C. 1162(2)(A)(v)) is amended by striking
			 <quote>February 12, 2011</quote> and inserting <quote>December 31,
			 2016</quote>.</text>
					</paragraph><paragraph id="H8018E59DA645478196F4F24BC397F3B4"><enum>(2)</enum><header>TAA-eligible
			 individuals</header><text>Section 602(2)(A)(vi) of such Act (29 U.S.C.
			 1162(2)(A)(vi)) is amended by striking <quote>February 12, 2011</quote> and
			 inserting <quote>December 31, 2016</quote>.</text>
					</paragraph></subsection><subsection id="HF8522D270EA3447F8AC57F98C74ABBD2"><enum>(b)</enum><header>IRC
			 amendments</header>
					<paragraph id="H9EC8E5221A1846CE92C8BCB4B3B5B20D"><enum>(1)</enum><header>PBGC
			 recipients</header><text>Section 4980B(f)(2)(B)(i)(V) of the Internal Revenue
			 Code of 1986 is amended by striking <quote>February 12, 2011</quote> and
			 inserting <quote>December 31, 2016</quote>.</text>
					</paragraph><paragraph id="HFEA95BD8F7F1492E95DC7852CEF2031B"><enum>(2)</enum><header>TAA-eligible
			 individuals</header><text>Section 4980B(f)(2)(B)(i)(VI) of such Code is amended
			 by striking <quote>February 12, 2011</quote> and inserting <quote>December 31,
			 2016</quote>.</text>
					</paragraph></subsection><subsection id="HCB14268C97C64CD3B68C49AA333DC002"><enum>(c)</enum><header>PHSA
			 amendments</header><text>Section 2202(2)(A)(iv) of the Public Health Service
			 Act (42 U.S.C. 300bb–2(2)(A)(iv)) is amended by striking <quote>February 12,
			 2011</quote> and inserting <quote>December 31, 2016</quote>.</text>
				</subsection><subsection id="H13572E3AAE1C47358D7B8AFC5C7AEF5C"><enum>(d)</enum><header>Effective
			 date</header><text>The amendments made by this section shall apply to periods
			 of coverage which would (without regard to the amendments made by this section)
			 end on or after February 13, 2011.</text>
				</subsection></section><section id="HF86950A57284438A90532CFCCEC10109"><enum>207.</enum><header>Addition of
			 coverage through voluntary employees' beneficiary associations</header>
				<subsection id="H742DB1F77EC543E0AA9A2ABCF19AE509"><enum>(a)</enum><header>In
			 general</header><text>Section 35(e)(1)(K) of the Internal Revenue Code of 1986
			 is amended by striking <quote>February 13, 2012</quote> and inserting
			 <quote>January 1, 2017</quote>.</text>
				</subsection><subsection id="H9BDAD868805848F5A314F4B2B0130317"><enum>(b)</enum><header>Effective
			 date</header><text>The amendment made by this section shall apply to coverage
			 months beginning after February 12, 2011.</text>
				</subsection></section><section id="H3FCA7DDB317144EEB6DFE9B7C243E041"><enum>208.</enum><header>Notice
			 requirements</header>
				<subsection id="H9D81B00FFFE24750A99088489F6E11BA"><enum>(a)</enum><header>In
			 general</header><text>Section 7527(d)(2) of the Internal Revenue Code of 1986
			 is amended by striking <quote>February 13, 2011</quote> and inserting
			 <quote>January 1, 2017</quote>.</text>
				</subsection><subsection commented="no" display-inline="no-display-inline" id="H13010EAAD56348A18C5102986147C966"><enum>(b)</enum><header>Effective
			 date</header><text>The amendment made by this section shall apply to
			 certificates issued after February 12, 2011.</text>
				</subsection></section></title><title id="id1F5C1387857E42EF9C1FB6E318B56C16"><enum>III</enum><header>Offsets</header>
			<section commented="no" display-inline="no-display-inline" id="H3F84DC0303494740BF7B0CD8BBB59378"><enum>301.</enum><header display-inline="yes-display-inline">Required minimum 10-year term, etc., for
			 grantor retained annuity trusts</header>
				<subsection commented="no" display-inline="no-display-inline" id="HBBD829E0A8C54E359BADAC5DFF48E993"><enum>(a)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">Subsection (b) of
			 <external-xref legal-doc="usc" parsable-cite="usc/26/2702">section
			 2702</external-xref> of the Internal Revenue Code of 1986 is amended—</text>
					<paragraph commented="no" display-inline="no-display-inline" id="H240457E0E3D74B1D8AD13F3C07B66CE1"><enum>(1)</enum><text display-inline="yes-display-inline">by redesignating paragraphs (1), (2) and
			 (3) as subparagraphs (A), (B), and (C), respectively, and by moving such
			 subparagraphs (as so redesignated) 2 ems to the right;</text>
					</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H046BE3F0A41C45019D59DE0CAD80DBB8"><enum>(2)</enum><text display-inline="yes-display-inline">by striking <quote>For purposes of</quote>
			 and inserting the following:</text>
						<quoted-block display-inline="no-display-inline" id="H38CDA4FF54FA488B90826699B63E4D13" style="OLC">
							<paragraph commented="no" display-inline="no-display-inline" id="H8AC36BB7EDA94594AC9B5E596C6A376F"><enum>(1)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">For purposes
				of</text>
							</paragraph><after-quoted-block>; </after-quoted-block></quoted-block>
					</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H9186AD51CDD642919AE54120E0906786"><enum>(3)</enum><text display-inline="yes-display-inline">by striking <quote>paragraph (1) or
			 (2)</quote> in paragraph (1)(C) (as so redesignated) and inserting
			 <quote>subparagraph (A) or (B)</quote>; and</text>
					</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H5B6F6B1952854719B86525F1723F3180"><enum>(4)</enum><text display-inline="yes-display-inline">by adding at the end the following new
			 paragraph:</text>
						<quoted-block display-inline="no-display-inline" id="H28DACD2EC25B41B5B81ABCE7C3353F59" style="OLC">
							<paragraph commented="no" display-inline="no-display-inline" id="HBA2D369E7C964EDE88E7F76B47345AC7"><enum>(2)</enum><header display-inline="yes-display-inline">Additional requirements with respect to
				grantor retained annuities</header><text display-inline="yes-display-inline">For purposes of subsection (a), in the case
				of an interest described in paragraph (1)(A) (determined without regard to this
				paragraph) which is retained by the transferor, such interest shall be treated
				as described in such paragraph only if—</text>
								<subparagraph commented="no" display-inline="no-display-inline" id="HE878AA367E114B4082F0A65DFC01FAEA"><enum>(A)</enum><text display-inline="yes-display-inline">the right to receive the fixed amounts
				referred to in such paragraph is for a term of not less than 10 years,</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H9A1A0A599585485587E6FCD0CE13D2CF"><enum>(B)</enum><text display-inline="yes-display-inline">such fixed amounts, when determined on an
				annual basis, do not decrease relative to any prior year during the first 10
				years of the term referred to in subparagraph (A), and</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HDA020A18651241DCB2B67040E844D4EF"><enum>(C)</enum><text display-inline="yes-display-inline">the remainder interest has a value greater
				than zero determined as of the time of the
				transfer.</text>
								</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
					</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H81774673D5E047828BCB6F46AFCD68CB"><enum>(b)</enum><header display-inline="yes-display-inline">Effective
			 date</header><text display-inline="yes-display-inline">The amendments made by
			 this section shall apply to transfers made after December 31, 2010.</text>
				</subsection></section></title><title id="id876E90A316DF4A95AB3E53CFC5D386CC"><enum>IV</enum><header>Budgetary
			 effects</header>
			<section commented="no" display-inline="no-display-inline" id="H54C155511E3343E58C3D93400819B475" section-type="subsequent-section"><enum>401.</enum><header>Compliance with
			 PAYGO</header><text display-inline="no-display-inline">The budgetary effects of
			 this Act, for the purpose of complying with the Statutory Pay-As-You-Go Act of
			 2010, shall be determined by reference to the latest statement titled
			 <quote>Budgetary Effects of PAYGO Legislation</quote> for this Act, submitted
			 for printing in the Congressional Record by the Chairman of the Senate Budget
			 Committee, provided that such statement has been submitted prior to the vote on
			 passage.</text>
			</section></title></legis-body>
</bill>
