[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 3470 Placed on Calendar Senate (PCS)]

<DOC>





                                                       Calendar No. 669
114th CONGRESS
  2d Session
                                S. 3470

                          [Report No. 114-374]

  To amend the Surface Mining Control and Reclamation Act of 1977 to 
transfer certain funds to the Multiemployer Health Benefit Plan and the 
    1974 United Mine Workers of America Pension Plan, and for other 
                               purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           November 16, 2016

   Mr. Hatch, from the Committee on Finance, reported the following 
     original bill; which was read twice and placed on the calendar

_______________________________________________________________________

                                 A BILL


 
  To amend the Surface Mining Control and Reclamation Act of 1977 to 
transfer certain funds to the Multiemployer Health Benefit Plan and the 
    1974 United Mine Workers of America Pension Plan, 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 ``Miners Protection Act of 2016''.

SEC. 2. INCLUSION OF CERTAIN RETIREES IN THE MULTIEMPLOYER HEALTH 
              BENEFIT PLAN.

    (a) In General.--Section 402 of the Surface Mining Control and 
Reclamation Act of 1977 (30 U.S.C. 1232) is amended--
            (1) in subsection (h)(2)(C)--
                    (A) by striking ``A transfer'' and inserting the 
                following:
                            ``(i) Transfer to the plan.--A transfer'';
                    (B) by redesignating clauses (i) and (ii) as 
                subclauses (I) and (II), respectively, and moving such 
                subclauses 2 ems to the right; and
                    (C) by striking the matter following such subclause 
                (II) (as so redesignated) and inserting the following:
                            ``(ii) Calculation of excess.--The excess 
                        determined under clause (i) shall be calculated 
                        by taking into account only--
                                    ``(I) those beneficiaries actually 
                                enrolled in the Plan as of the date of 
                                the enactment of the Miners Protection 
                                Act of 2016 who are eligible to receive 
                                health benefits under the Plan on the 
                                first day of the calendar year for 
                                which the transfer is made, other than 
                                those beneficiaries enrolled in the 
                                Plan under the terms of a participation 
                                agreement with the current or former 
                                employer of such beneficiaries; and
                                    ``(II) those beneficiaries whose 
                                health benefits, defined as those 
                                benefits payable directly following 
                                death or retirement or upon a finding 
                                of disability by an employer in the 
                                bituminous coal industry under a coal 
                                wage agreement (as defined in section 
                                9701(b)(1) of the Internal Revenue Code 
                                of 1986), would be denied or reduced as 
                                a result of a bankruptcy proceeding 
                                commenced in 2012 or 2015.
                            ``(iii) Eligibility of certain retirees.--
                        Individuals referred to in clause (ii)(II) 
                        shall be treated as eligible to receive health 
                        benefits under the Plan.
                            ``(iv) Requirements for transfer.--The 
                        amount of the transfer otherwise determined 
                        under this subparagraph for a fiscal year shall 
                        be reduced by any amount transferred for the 
                        fiscal year to the Plan, to pay benefits 
                        required under the Plan, from a voluntary 
                        employees' beneficiary association established 
                        as a result of a bankruptcy proceeding 
                        described in clause (ii).
                            ``(v) VEBA transfer.--The administrator of 
                        such voluntary employees' beneficiary 
                        association shall transfer to the Plan any 
                        amounts received as a result of such bankruptcy 
                        proceeding, reduced by an amount for 
                        administrative costs of such association.''; 
                        and
            (2) in subsection (i)--
                    (A) by redesignating paragraph (4) as paragraph 
                (5); and
                    (B) by inserting after paragraph (3) the following:
            ``(4) Additional amounts.--
                    ``(A) Calculation.--If the dollar limitation 
                specified in paragraph (3)(A) exceeds the aggregate 
                amount required to be transferred under paragraphs (1) 
                and (2) for a fiscal year, the Secretary of the 
                Treasury shall transfer an additional amount equal to 
                the difference between such dollar limitation and such 
                aggregate amount to the trustees of the 1974 UMWA 
                Pension Plan to pay benefits required under that plan.
                    ``(B) Cessation of transfers.--The transfers 
                described in subparagraph (A) shall cease as of the 
                first fiscal year beginning after the first plan year 
                for which the funded percentage (as defined in section 
                432(i)(2) of the Internal Revenue Code of 1986) of the 
                1974 UMWA Pension Plan is at least 100 percent.
                    ``(C) Prohibition on benefit increases, etc.--
                During a fiscal year in which the 1974 UMWA Pension 
                Plan is receiving transfers under subparagraph (A), no 
                amendment of such plan which increases the liabilities 
                of the plan by reason of any increase in benefits, any 
                change in the accrual of benefits, or any change in the 
                rate at which benefits become nonforfeitable under the 
                plan may be adopted unless the amendment is required as 
                a condition of qualification under part I of subchapter 
                D of chapter 1 of the Internal Revenue Code of 1986.
                    ``(D) Treatment of transfers for purposes of 
                withdrawal liability under erisa.--The amount of any 
                transfer made under subparagraph (A) (and any earnings 
                attributable thereto) shall be disregarded in 
                determining the unfunded vested benefits of the 1974 
                UMWA Pension Plan and the allocation of such unfunded 
                vested benefits to an employer for purposes of 
                determining the employer's withdrawal liability under 
                section 4201.
                    ``(E) Requirement to maintain contribution rate.--A 
                transfer under subparagraph (A) shall not be made for a 
                fiscal year unless the persons that are obligated to 
                contribute to the 1974 UMWA Pension Plan on the date of 
                the transfer are obligated to make the contributions at 
                rates that are no less than those in effect on the date 
                which is 30 days before the date of enactment of the 
                Miners Protection Act of 2016.
                    ``(F) Enhanced annual reporting.--
                            ``(i) In general.--Not later than the 90th 
                        day of each plan year beginning after the date 
                        of enactment of the Miners Protection Act of 
                        2016, the trustees of the 1974 UMWA Pension 
                        Plan shall file with the Secretary of the 
                        Treasury or the Secretary's delegate and the 
                        Pension Benefit Guaranty Corporation a report 
                        (including appropriate documentation and 
                        actuarial certifications from the plan actuary, 
                        as required by the Secretary of the Treasury or 
                        the Secretary's delegate) that contains--
                                    ``(I) whether the plan is in 
                                endangered or critical status under 
                                section 305 of the Employee Retirement 
                                Income Security Act of 1974 and section 
                                432 of the Internal Revenue Code of 
                                1986 as of the first day of such plan 
                                year;
                                    ``(II) the funded percentage (as 
                                defined in section 432(i)(2) of such 
                                Code) as of the first day of such plan 
                                year, and the underlying actuarial 
                                value of assets and liabilities taken 
                                into account in determining such 
                                percentage;
                                    ``(III) the market value of the 
                                assets of the plan as of the last day 
                                of the plan year preceding such plan 
                                year;
                                    ``(IV) the total value of all 
                                contributions made during the plan year 
                                preceding such plan year;
                                    ``(V) the total value of all 
                                benefits paid during the plan year 
                                preceding such plan year;
                                    ``(VI) cash flow projections for 
                                such plan year and either the 6 or 10 
                                succeeding plan years, at the election 
                                of the trustees, and the assumptions 
                                relied upon in making such projections;
                                    ``(VII) funding standard account 
                                projections for such plan year and the 
                                9 succeeding plan years, and the 
                                assumptions relied upon in making such 
                                projections;
                                    ``(VIII) the total value of all 
                                investment gains or losses during the 
                                plan year preceding such plan year;
                                    ``(IX) any significant reduction in 
                                the number of active participants 
                                during the plan year preceding such 
                                plan year, and the reason for such 
                                reduction;
                                    ``(X) a list of employers that 
                                withdrew from the plan in the plan year 
                                preceding such plan year, and the 
                                resulting reduction in contributions;
                                    ``(XI) a list of employers that 
                                paid withdrawal liability to the plan 
                                during the plan year preceding such 
                                plan year and, for each employer, a 
                                total assessment of the withdrawal 
                                liability paid, the annual payment 
                                amount, and the number of years 
                                remaining in the payment schedule with 
                                respect to such withdrawal liability;
                                    ``(XII) any material changes to 
                                benefits, accrual rates, or 
                                contribution rates during the plan year 
                                preceding such plan year;
                                    ``(XIII) any scheduled benefit 
                                increase or decrease in the plan year 
                                preceding such plan year having a 
                                material effect on liabilities of the 
                                plan;
                                    ``(XIV) details regarding any 
                                funding improvement plan or 
                                rehabilitation plan and updates to such 
                                plan;
                                    ``(XV) the number of participants 
                                and beneficiaries during the plan year 
                                preceding such plan year who are active 
                                participants, the number of 
                                participants and beneficiaries in pay 
                                status, and the number of terminated 
                                vested participants and beneficiaries;
                                    ``(XVI) the information contained 
                                on the most recent annual funding 
                                notice submitted by the plan under 
                                section 101(f) of the Employee 
                                Retirement Income Security Act of 1974;
                                    ``(XVII) the information contained 
                                on the most recent Department of Labor 
                                Form 5500 of the plan; and
                                    ``(XVIII) copies of the plan 
                                document and amendments, other 
                                retirement benefit or ancillary benefit 
                                plans relating to the plan and 
                                contribution obligations under such 
                                plans, a breakdown of administrative 
                                expenses of the plan, participant 
                                census data and distribution of 
                                benefits, the most recent actuarial 
                                valuation report as of the plan year, 
                                copies of collective bargaining 
                                agreements, and financial reports, and 
                                such other information as the Secretary 
                                of the Treasury or the Secretary's 
                                delegate, in consultation with the 
                                Secretary of Labor and the Director of 
                                the Pension Benefit Guaranty 
                                Corporation, may require.
                            ``(ii) Electronic submission.--The report 
                        required under clause (i) shall be submitted 
                        electronically.
                            ``(iii) Information sharing.--The Secretary 
                        of the Treasury or the Secretary's delegate 
                        shall share the information in the report under 
                        clause (i) with the Secretary of Labor.
                            ``(iv) Penalty.--Any failure to file the 
                        report required under clause (i) on or before 
                        the date described in such clause shall be 
                        treated as a failure to file a report required 
                        to be filed under section 6058(a) of the 
                        Internal Revenue Code of 1986, except that 
                        section 6652(e) of such Code shall be applied 
                        with respect to any such failure by 
                        substituting `$100' for `$25'. The preceding 
                        sentence shall not apply if the Secretary of 
                        the Treasury or the Secretary's delegate 
                        determines that reasonable diligence has been 
                        exercised by the trustees of such plan in 
                        attempting to timely file such report.
                    ``(G) 1974 umwa pension plan defined.--For purposes 
                of this paragraph, the term `1974 UMWA Pension Plan' 
                has the meaning given the term in section 9701(a)(3) of 
                the Internal Revenue Code of 1986, but without regard 
                to the limitation on participation to individuals who 
                retired in 1976 and thereafter.''.
    (b) Effective Dates.--
            (1) In general.--The amendments made by this section shall 
        apply to fiscal years beginning after September 30, 2016.
            (2) Reporting requirements.--Section 402(i)(4)(F) of the 
        Surface Mining Control and Reclamation Act of 1977 (30 U.S.C. 
        1232(i)(4)(F)), as added by this section, shall apply to plan 
        years beginning after the date of the enactment of this Act.

SEC. 3. CLARIFICATION OF FINANCING OBLIGATIONS.

    (a) In General.--Subsection (a) of section 9704 of the Internal 
Revenue Code of 1986 is amended--
            (1) by striking paragraph (3),
            (2) by striking ``three premiums'' and inserting ``two 
        premiums'', and
            (3) by striking ``, plus'' at the end of paragraph (2) and 
        inserting a period.
    (b) Conforming Amendments.--
            (1) Section 9704 of the Internal Revenue Code of 1986 is 
        amended--
                    (A) by striking subsection (d), and
                    (B) by redesignating subsections (e) through (j) as 
                subsections (d) through (i), respectively.
            (2) Subsection (d) of section 9704 of such Code, as so 
        redesignated, is amended--
                    (A) by striking ``3 separate accounts for each of 
                the premiums described in subsections (b), (c), and 
                (d)'' in paragraph (1) and inserting ``2 separate 
                accounts for each of the premiums described in 
                subsections (b) and (c)'', and
                    (B) by striking ``or the unassigned beneficiaries 
                premium account'' in paragraph (3)(B).
            (3) Subclause (I) of section 9703(b)(2)(C)(ii) of such Code 
        is amended by striking ``9704(e)(3)(B)(i)'' and inserting 
        ``9704(d)(3)(B)(i)''.
            (4) Paragraph (3) of section 9705(a) of such Code is 
        amended--
                    (A) by striking ``the unassigned beneficiary 
                premium under section 9704(a)(3) and'' in subparagraph 
                (B), and
                    (B) by striking ``9704(i)(1)(B)'' and inserting 
                ``9704(h)(1)(B)''.
            (5) Paragraph (2) of section 9711(c) of such Code is 
        amended--
                    (A) by striking ``9704(j)(2)'' in subparagraph 
                (A)(i) and inserting ``9704(i)(2)'',
                    (B) by striking ``9704(j)(2)(B)'' in subparagraph 
                (B) and inserting ``9704(i)(2)(B)'', and
                    (C) by striking ``9704(j)'' and inserting 
                ``9704(i)''.
            (6) Paragraph (4) of section 9712(d) of such Code is 
        amended by striking ``9704(j)'' and inserting ``9704(i)''.
    (c) Elimination of Additional Backstop Premium.--
            (1) In general.--Paragraph (1) of section 9712(d) of the 
        Internal Revenue Code of 1986 is amended by striking 
        subparagraph (C).
            (2) Conforming amendment.--Paragraph (2) of section 9712(d) 
        of such Code is amended--
                    (A) by striking subparagraph (B),
                    (B) by striking ``, and'' at the end of 
                subparagraph (A) and inserting a period, and
                    (C) by striking ``shall provide for--'' and all 
                that follows through ``annual adjustments'' and 
                inserting ``shall provide for annual adjustments''.
    (d) Effective Date.--The amendments made by this section shall 
apply to plan years beginning after September 30, 2016.

SEC. 4. CUSTOMS USER FEES.

    (a) In General.--Section 13031(j)(3)(A) of the Consolidated Omnibus 
Budget Reconciliation Act of 1985 (19 U.S.C. 58c(j)(3)(A)) is amended 
by striking ``September 30, 2025'' and inserting ``May 6, 2026''.
    (b) Rate for Merchandise Processing Fees.--Section 503 of the 
United States-Korea Free Trade Agreement Implementation Act (Public Law 
112-41; 19 U.S.C. 3805 note) is amended by striking ``September 30, 
2025'' and inserting ``May 6, 2026''.
                                                       Calendar No. 669

114th CONGRESS

  2d Session

                                S. 3470

                          [Report No. 114-374]

_______________________________________________________________________

                                 A BILL

  To amend the Surface Mining Control and Reclamation Act of 1977 to 
transfer certain funds to the Multiemployer Health Benefit Plan and the 
    1974 United Mine Workers of America Pension Plan, and for other 
                               purposes.

_______________________________________________________________________

                           November 16, 2016

                 Read twice and placed on the calendar