A bill to amend the Internal Revenue Code of 1986 and the Surface Mining Control and Reclamation Act of 1977 to restore stability and equity to the financing of the United Mine Workers of America Combines Benefit Fund by eliminating the liability of reachback operations, to provide additional sources of revenue to the Fund, and for other purposes.
Provides for a reduction in health benefit premiums to coal miners if there is a surplus in the Combined Benefit Fund.
Provides for the transfer of certain amounts of interest from the Abandoned Mine Reclamation Fund to the Combined Fund.
Reduces Abandoned Mine Reclamation Fund fees. Extends the Abandoned Mine Reclamation Fee program for an additional six years.
Authorizes appropriations for the transfer of $38 million from the 1950 United Mine Workers of America Pension Plan annually to the Combined Fund to cover any shortfall in the premium account of the Combined Fund.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S5113-5114)
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5114-5115)
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