[Congressional Record Volume 162, Number 178 (Friday, December 9, 2016)]
[Senate]
[Pages S7042-S7043]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
SA 5164. Mr. MANCHIN (for himself, Mr. Schumer, Mr. Donnelly, Mrs.
McCaskill, Mr. Casey, Mr. Brown, Mr. Warner, Ms. Heitkamp, Mr. Leahy,
Mr. King, Ms. Klobuchar, Mr. Wyden, Mrs. Feinstein, Mr. Franken, Mr.
Whitehouse, Mrs. Gillibrand, Mr. Menendez, Mr. Booker, Mr. Sanders, Mr.
Durbin, Ms. Warren, Ms. Hirono, Mr. Nelson, Mrs. Boxer, Mr. Bennet, Mr.
Blumenthal, Ms. Baldwin, Mr. Carper, Ms. Stabenow, Mr. Kaine, Mr.
Markey, Mr. Merkley, Mr. Murphy, Mr. Heinrich, Mr. Peters, Mrs.
Shaheen, Mr. Tester, Mr. Udall, Mr. Reed, Ms. Cantwell, Mrs. Murray,
Mr. Cardin, Mr. Schatz, Mr. Coons, Ms. Mikulski, Mr. Reid, Mr. Portman,
Mrs. Capito, and Mr. Kirk) submitted an amendment intended to be
proposed by him to the bill H.R. 2028, making appropriations for energy
and water development and related agencies for the fiscal year ending
September 30, 2016, and for other purposes; which was ordered to lie on
the table; as follows:
Beginning on page 12, strike line 1 and all that follows
through page 16, line 18, and insert the following:
``(a) Short Title.--This section may be cited as the
`Miners Protection Act of 2016'.
``(b) Inclusion of Certain Retirees in the Multiemployer
Health Benefit Plan.--
``(1) In general.--Section 402 of the Surface Mining
Control and Reclamation Act of 1977 (30 U.S.C. 1232) is
amended--
``(A) in subsection (h)(2)(C)--
``(i) by striking `A transfer' and inserting the following:
`` `(i) Transfer to the plan.--A transfer';
``(ii) by redesignating clauses (i) and (ii) as subclauses
(I) and (II), respectively, and moving such subclauses 2 ems
to the right; and
``(iii) 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
``(B) in subsection (i)--
``(i) by redesignating paragraph (4) as paragraph (5); and
``(ii) 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
[[Page S7043]]
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.'.
``(2) Effective dates.--
``(A) In general.--The amendments made by this subsection
shall apply to fiscal years beginning after September 30,
2016.
``(B) 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 subsection, shall apply to
plan years beginning after the date of the enactment of this
Act.
``(c) Clarification of Financing Obligations.--
``(1) In general.--Subsection (a) of section 9704 of the
Internal Revenue Code of 1986 is amended--
``(A) by striking paragraph (3),
``(B) by striking `three premiums' and inserting `two
premiums', and
``(C) by striking `, plus' at the end of paragraph (2) and
inserting a period.
``(2) Conforming amendments.--
``(A) Section 9704 of the Internal Revenue Code of 1986 is
amended--
``(i) by striking subsection (d), and
``(ii) by redesignating subsections (e) through (j) as
subsections (d) through (i), respectively.
``(B) Subsection (d) of section 9704 of such Code, as so
redesignated, is amended--
``(i) 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
``(ii) by striking `or the unassigned beneficiaries premium
account' in paragraph (3)(B).
``(C) 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)'.
``(D) Paragraph (3) of section 9705(a) of such Code is
amended--
``(i) by striking `the unassigned beneficiary premium under
section 9704(a)(3) and' in subparagraph (B), and
``(ii) by striking `9704(i)(1)(B)' and inserting
`9704(h)(1)(B)'.
``(E) Paragraph (2) of section 9711(c) of such Code is
amended--
``(i) by striking `9704(j)(2)' in subparagraph (A)(i) and
inserting `9704(i)(2)',
``(ii) by striking `9704(j)(2)(B)' in subparagraph (B) and
inserting `9704(i)(2)(B)', and
``(iii) by striking `9704(j)' and inserting `9704(i)'.
``(F) Paragraph (4) of section 9712(d) of such Code is
amended by striking `9704(j)' and inserting `9704(i)'.
``(3) Elimination of additional backstop premium.--
``(A) In general.--Paragraph (1) of section 9712(d) of the
Internal Revenue Code of 1986 is amended by striking
subparagraph (C).
``(B) Conforming amendment.--Paragraph (2) of section
9712(d) of such Code is amended--
``(i) by striking subparagraph (B),
``(ii) by striking `, and' at the end of subparagraph (A)
and inserting a period, and
``(iii) by striking `shall provide for--' and all that
follows through `annual adjustments' and inserting `shall
provide for annual adjustments'.
``(4) Effective date.--The amendments made by this
subsection shall apply to plan years beginning after
September 30, 2016.
``(d) Customs User Fees.--
``(1) 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'.
``(2) 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'.
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