§ 9705. Transfers

Statutory text

Transfer of assets from 1950 UMWA Pension Plan

In general

From the funds reserved under paragraph (2), the board of trustees of the 1950 UMWA Pension Plan shall transfer to the Combined Fund—

$70,000,000 on February 1, 1993,

$70,000,000 on October 1, 1993, and

$70,000,000 on October 1, 1994.

Reservation

Immediately upon the enactment date, the board of trustees of the 1950 UMWA Pension Plan shall segregate $210,000,000 from the general assets of the plan. Such funds shall be held in the plan until disbursed pursuant to paragraph (1). Any interest on such funds shall be deposited into the general assets of the 1950 UMWA Pension Plan.

Use of funds

Amounts transferred to the Combined Fund under paragraph (1) shall—

in the case of the transfer on February 1, 1993, be used to proportionately reduce the premium of each assigned operator under section 9704(a) for the plan year of the Fund beginning February 1, 1993, and

in the case of any other such transfer, be used to proportionately reduce the unassigned beneficiary premium under section 9704(a)(3) and the death benefit premium under section 9704(a)(2) of each assigned operator for the plan year in which transferred and for any subsequent plan year in which such funds remain available.

Such funds may not be used to pay any amounts required to be paid by the 1988 agreement operators under section 9704(i)(1)(B).

Tax treatment; validity of transfer

No deduction

No deduction shall be allowed under this title with respect to any transfer pursuant to paragraph (1), but such transfer shall not adversely affect the deductibility (under applicable provisions of this title) of contributions previously made by employers, or amounts hereafter contributed by employers, to the 1950 UMWA Pension Plan, the 1950 UMWA Benefit Plan, the 1974 UMWA Pension Plan, the 1974 UMWA Benefit Plan, the 1992 UMWA Benefit Plan, or the Combined Fund.

Other tax provisions

Any transfer pursuant to paragraph (1)—

shall not be treated as an employer reversion from a qualified plan for purposes of section 4980, and

shall not be includible in the gross income of any employer maintaining the 1950 UMWA Pension Plan.

Treatment of transfer

Any transfer pursuant to paragraph (1) shall not be deemed to violate, or to be prohibited by, any provision of law, or to cause the settlors, joint board of trustees, employers or any related person to incur or be subject to liability, taxes, fines, or penalties of any kind whatsoever.

Transfers

In general

The Combined Fund shall include any amount transferred to the Fund under subsections (h) and (i) of section 402 of the Surface Mining Control and Reclamation Act of 1977 (30 U.S.C. 1232).

Use of funds

Any amount transferred under paragraph (1) for any fiscal year shall be used to pay benefits and administrative costs of beneficiaries of the Combined Fund or for such other purposes as are specifically provided in the Act described in paragraph (1).

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1992
Coal Industry Retiree Health Benefit Act of 1992
Pub. L. 102–486 title XIX § 19143(a) · 106 Stat. 2776
Enacted · 26 U.S.C. § 9705
Added Pub. L. 102–486, title XIX, § 19143(a), Oct. 24, 1992, 106 Stat. 3046
Source evidence
Code source credit
Added Pub. L. 102–486, title XIX, § 19143(a), Oct. 24, 1992, 106 Stat. 3046
Enacted provision · exact public law section
(A) Section 401(c) of such Act (30 U.S.C. 1231(c)) is amended by striking “and” at the end of paragraph (11), by redesignating paragraph (12) as paragraph (13), and by adding after paragraph (11) the following new paragraph: “(12) for the purpose described in section 402(h); and”.
2006
Surface Mining Control and Reclamation Act Amendments of 2006
Pub. L. 109–432 § 212(a)(1)(C) · 120 Stat. 2922
Struck · 26 U.S.C. § 9705(b)
Pub. L. 109–432, § 212(a)(1)(C), struck out “from abandoned mine reclamation fund” after “Transfers” in heading
Source evidence
Code amendment note
Subsec. (b). Pub. L. 109–432, § 212(a)(1)(C), struck out “from abandoned mine reclamation fund” after “Transfers” in heading.
Enacted provision · exact public law section
(C) by striking “From Abandoned Mine Reclamation Fund” in the heading thereof.
Effective date note
Amendment by Pub. L. 109–432 applicable to plan years of the Combined Fund beginning after Sept. 30, 2006, see section 212(a)(4) of Pub. L. 109–432, set out as a note under section 9704 of this title.
2006
Surface Mining Control and Reclamation Act Amendments of 2006
Pub. L. 109–432 § 212(a)(1)(A) · 120 Stat. 2922
Substituted · 26 U.S.C. § 9705(b)(1)
Pub. L. 109–432, § 212(a)(1)(A), substituted “subsections (h) and (i) of section 402” for “section 402(h)”
Source evidence
Code amendment note
Subsec. (b)(1). Pub. L. 109–432, § 212(a)(1)(A), substituted “subsections (h) and (i) of section 402” for “section 402(h)”.
Enacted provision · exact public law section
(A) in paragraph (1), by striking “section 402(h)” and inserting “subsections (h) and (i) of section 402”;
Effective date note
Amendment by Pub. L. 109–432 applicable to plan years of the Combined Fund beginning after Sept. 30, 2006, see section 212(a)(4) of Pub. L. 109–432, set out as a note under section 9704 of this title.
2006
Surface Mining Control and Reclamation Act Amendments of 2006
Pub. L. 109–432 § 212(a)(1)(B) · 120 Stat. 2922
Amended · 26 U.S.C. § 9705(b)(2)
Pub. L. 109–432, § 212(a)(1)(B), reenacted heading without change and amended text of par. (2) generally. Prior to amendment, text read as follows: “Any amount transferred under paragraph (1) for any fiscal year shall be used to proportionately reduce the unassigned beneficiary premium under section 9704(a)(3) of each assigned operator for the plan year in which transferred.”
Source evidence
Code amendment note
Subsec. (b)(2). Pub. L. 109–432, § 212(a)(1)(B), reenacted heading without change and amended text of par. (2) generally. Prior to amendment, text read as follows: “Any amount transferred under paragraph (1) for any fiscal year shall be used to proportionately reduce the unassigned beneficiary premium under section 9704(a)(3) of each assigned operator for the plan year in which transferred.”
Enacted provision · exact public law section
(B) by striking paragraph (2) and inserting the following new paragraph: “(2) Use of funds.— Any amount transferred under paragraph (1) for any fiscal year shall be used to pay benefits and administrative costs of beneficiaries of the Combined Fund or for such other purposes as are specifically provided in the Acts described in paragraph (1).” ; and
Effective date note
Amendment by Pub. L. 109–432 applicable to plan years of the Combined Fund beginning after Sept. 30, 2006, see section 212(a)(4) of Pub. L. 109–432, set out as a note under section 9704 of this title.
2018
Energy and Water Development and Related Agencies Appropriations Act, 2018
Pub. L. 115–141 § 401(a)(345) · 132 Stat. 348
Substituted · 26 U.S.C. § 9705(b)(1)
Pub. L. 115–141, § 401(a)(345), substituted “1232” for “1232(h)”
Source evidence
Code amendment note
Subsec. (b)(1). Pub. L. 115–141, § 401(a)(345), substituted “1232” for “1232(h)”.
Enacted provision · exact public law section
Sec. 401. The Nuclear Regulatory Commission shall comply with the July 5, 2011, version of Chapter VI of its Internal Commission Procedures when responding to Congressional requests for information.
2018
Energy and Water Development and Related Agencies Appropriations Act, 2018
Pub. L. 115–141 § 401(a)(346) · 132 Stat. 348
Substituted · 26 U.S.C. § 9705(b)(2)
Pub. L. 115–141, § 401(a)(346), substituted “Act” for “Acts”
Source evidence
Code amendment note
Subsec. (b)(2). Pub. L. 115–141, § 401(a)(346), substituted “Act” for “Acts”.
Enacted provision · exact public law section
Sec. 401. The Nuclear Regulatory Commission shall comply with the July 5, 2011, version of Chapter VI of its Internal Commission Procedures when responding to Congressional requests for information.

6 of 6 references resolved to an enrolled provision

Editorial Notes

Amendments2006–2018 · 2 rounds

2018

Subsec. (b)(1). Pub. L. 115–141, § 401(a)(345), substituted “1232” for “1232(h)”.

Subsec. (b)(2). Pub. L. 115–141, § 401(a)(346), substituted “Act” for “Acts”.

2006

Subsec. (b). Pub. L. 109–432, § 212(a)(1)(C), struck out “from abandoned mine reclamation fund” after “Transfers” in heading.

Subsec. (b)(1). Pub. L. 109–432, § 212(a)(1)(A), substituted “subsections (h) and (i) of section 402” for “section 402(h)”.

Subsec. (b)(2). Pub. L. 109–432, § 212(a)(1)(B), reenacted heading without change and amended text of par. (2) generally. Prior to amendment, text read as follows: “Any amount transferred under paragraph (1) for any fiscal year shall be used to proportionately reduce the unassigned beneficiary premium under section 9704(a)(3) of each assigned operator for the plan year in which transferred.”

Statutory Notes and Related Subsidiaries

Effective Date of 2006 Amendment

Amendment by Pub. L. 109–432 applicable to plan years of the Combined Fund beginning after Sept. 30, 2006, see section 212(a)(4) of Pub. L. 109–432, set out as a note under section 9704 of this title.

Credits

1992–2018 · 3 acts

1992Added Pub. L. 102–486, title XIX, § 19143(a), Oct. 24, 1992, 106 Stat. 3046
2006amended Pub. L. 109–432, div. C, title II, § 212(a)(1), Dec. 20, 2006, 120 Stat. 3023
2018Pub. L. 115–141, div. U, title IV, § 401(a)(345), (346), Mar. 23, 2018, 132 Stat. 1200, 1201.

Show as published

(Added Pub. L. 102–486, title XIX, § 19143(a), Oct. 24, 1992, 106 Stat. 3046; amended Pub. L. 109–432, div. C, title II, § 212(a)(1), Dec. 20, 2006, 120 Stat. 3023; Pub. L. 115–141, div. U, title IV, § 401(a)(345), (346), Mar. 23, 2018, 132 Stat. 1200, 1201.)