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Text of the CARE Act

This bill was introduced on March 17, 2011, in a previous session of Congress, but was not enacted. The text of the bill below is as of Mar 17, 2011 (Introduced).

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Source: GPO

II

112th CONGRESS

1st Session

S. 621

IN THE SENATE OF THE UNITED STATES

March 17, 2011

introduced the following bill; which was read twice and referred to the Committee on Energy and Natural Resources

A BILL

To amend the Surface Mining Control and Reclamation Act of 1977 to provide for use of excess funds available under that Act to provide for certain benefits, and for other purposes.

1.

Short title

This Act may be cited as the Coal Accountability and Retired Employee Act of 2011 or the CARE Act .

2.

Amendment of Surface Mining Control and Reclamation Act of 1977

Section 402(i)(2) of the Surface Mining Control and Reclamation Act of 1977 (30 U.S.C. 1232(i)(2)) is amended—

(1)

by striking Subject to and inserting the following:

(A)

In general

Subject to

; and

(2)

by adding at the end the following:

(B)

Excess amounts

(i)

In general

Subject to paragraph (3), and after all transfers referred to in paragraph (1) and subparagraph (A) of this paragraph have been made, any amounts remaining after the application of paragraph (3)(A) (without regard to this subparagraph) shall be transferred to the trustees of the 1974 UMWA Pension Plan and used solely to pay pension benefits required under such plan.

(ii)

1974 UMWA Pension Plan

In this subparagraph, the term 1974 UMWA Pension Plan means a pension plan referred to in section 9701(a)(3) of the Internal Revenue Code of 1986 but without regard to whether participation in such plan is limited to individuals who retired in 1976 and thereafter.

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