[Congressional Record Volume 162, Number 104 (Tuesday, June 28, 2016)]
[Senate]
[Page S4677]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 4917. Mr. PORTMAN (for himself and Mr. Burr) submitted an 
amendment intended to be proposed by him to the bill S. 2328, to 
reauthorize and amend the National Sea Grant College Program Act, and 
for other purposes; which was ordered to lie on the table; as follows:

       At the end of title IV, insert the following:

     SEC. 414. BENEFIT SUSPENSIONS FOR MULTIEMPLOYER PLANS IN 
                   CRITICAL AND DECLINING STATUS.

       (a) ERISA Amendments.--Section 305(e)(9)(H) of the Employee 
     Retirement Income Security Act of 1974 (29 U.S.C. 
     1085(e)(9)(H)) is amended--
       (1) in clause (ii)--
       (A) by striking ``Except as provided in clause (v), the'' 
     and inserting ``The''; and
       (B) by striking ``a majority of all participants and 
     beneficiaries of the plan'' and inserting ``, of the 
     participants and beneficiaries of the plan who cast a vote, a 
     majority'';
       (2) by striking clause (v);
       (3) by redesignating clause (vi) as clause (v); and
       (4) in clause (v), as so redesignated--
       (A) by striking ``(or following a determination under 
     clause (v) that the plan is a systemically important plan)''; 
     and
       (B) by striking ``(or, in the case of a suspension that 
     goes into effect under clause (v), at a time sufficient to 
     allow the implementation of the suspension prior to the end 
     of the 90-day period described in clause (v)(I))''.
       (b) IRC Amendments.--Section 432(e)(9)(H) of the Internal 
     Revenue Code of 1986 is amended--
       (1) in clause (ii)--
       (A) by striking ``Except as provided in clause (v), the'' 
     and inserting ``The''; and
       (B) by striking ``a majority of all participants and 
     beneficiaries of the plan'' and inserting ``, of the 
     participants and beneficiaries of the plan who cast a vote, a 
     majority'';
       (2) by striking clause (v);
       (3) by redesignating clause (vi) as clause (v); and
       (4) in clause (v), as so redesignated--
       (A) by striking ``(or following a determination under 
     clause (v) that the plan is a systemically important plan)''; 
     and
       (B) by striking ``(or, in the case of a suspension that 
     goes into effect under clause (v), at a time sufficient to 
     allow the implementation of the suspension prior to the end 
     of the 90-day period described in clause (v)(I))''.
       (c) Effective Date.--The amendments made by subsections (a) 
     and (b) shall apply to any vote on the suspension of benefits 
     under section 305(e)(9)(H) of the Employee Retirement Income 
     Security Act of 1974 (29 U.S.C. 1085(e)(9)(H)) and section 
     432(e)(9)(H) of the Internal Revenue Code of 1986 that occurs 
     after the date of enactment of this Act.
                                 ______