HR 397 116th Congress House Labor and Employment Accounting and auditing Department of the Treasury Employee benefits and pensions Executive agency funding and structure Federal officials Government lending and loan guarantees Government trust funds Securities

Rehabilitation for Multiemployer Pensions Act of 2019

Introduced: January 9, 2019 Introduced by: Neal, Richard E. Democratic · Massachusetts See on congress.gov

Everywhere this bill has been 30 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Dec 19, 2019

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 390.

Dec 18, 2019

Read the first time. Placed on Senate Legislative Calendar under Read the First Time.

Jul 25, 2019

Received in the Senate.

Jul 24, 2019

Motion to reconsider laid on the table Agreed to without objection.

Jul 24, 2019

On passage Passed by recorded vote: 264 - 169 (Roll no. 505). (text: CR H7318-7323)

Jul 24, 2019

Passed/agreed to in House: On passage Passed by recorded vote: 264 - 169 (Roll no. 505).(text: CR H7318-7323)

Jul 24, 2019

On motion to recommit with instructions Failed by recorded vote: 200 - 232 (Roll no. 504).

Jul 24, 2019

The previous question on the motion to recommit with instructions was ordered without objection.

Jul 24, 2019

Floor summary: DEBATE - The House proceeded with 10 minutes of debate on the Mast motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to insert a new clause in section 4(b)(1)(c) of the bill stating that pension plans will not knowingly engage in a commerce-related or investment-related boycott, divestment, or sanctions activity intended to undermine the existence of, penalize, inflict economic harm on, or otherwise limit commercial relations with Israel.

Jul 24, 2019

Mr. Mast moved to recommit with instructions to the Committee on Education and Labor. (text: CR H7346)

Jul 24, 2019

UNFINISHED BUSINESS - The Chair announced that the unfinished business was the question on adoption of the amendment offered by Mr. Roe (TN), which had been debated earlier and on which further proceedings had been postponed.

Jul 24, 2019

Considered as unfinished business. (consideration: CR H7345, H7347-7348)

Jul 24, 2019

POSTPONED PROCEEDINGS - At the conclusion of debate on the Roe amendment, the Chair put the question on the amendment and by voice vote, announced that the ayes had prevailed. Mr. Scotts (VA) demanded a recorded vote and the Chair postponed further proceedings on agreeing to the amendment until a time to be announced.

Jul 24, 2019

The previous question was ordered pursuant to the rule.

Jul 24, 2019

DEBATE - Pursuant to the provisions of H. Res. 509, the House proceeded with 10 minutes of debate on the David P. Roe amendment No. 1.

Jul 24, 2019

DEBATE - The House proceeded with one hour of debate on H.R. 397.

Jul 24, 2019

Rule provides for consideration of H.R. 397 and H.R. 3239. Resolution provides for consideration of both H.R. 397 and H.R. 3239 under structured rules. Resolution also provides that it shall be in order on the legislative day of July 25, 2019 or July 26, 2019 that the House suspend the rules. Resolution additionally provides for proceedings from the period from July 29, 2019 through September 6, 2019.

Jul 24, 2019

Considered under the provisions of rule H. Res. 509. (consideration: CR H7318-7335)

Jul 23, 2019

Rules Committee Resolution H. Res. 509 Reported to House. Rule provides for consideration of H.R. 397 and H.R. 3239. Resolution provides for consideration of both H.R. 397 and H.R. 3239 under structured rules. Resolution also provides that it shall be in order on the legislative day of July 25, 2019 or July 26, 2019 that the House suspend the rules. Resolution additionally provides for proceedings from the period from July 29, 2019 through September 6, 2019.

Jul 19, 2019

Placed on the Union Calendar, Calendar No. 123.

Jul 19, 2019

Committee on Appropriations discharged.

Jul 19, 2019

Reported (Amended) by the Committee on Education and Labor. H. Rept. 116-159, Part II.

Jul 18, 2019

Reported (Amended) by the Committee on Ways and Means. H. Rept. 116-159, Part I.

Jul 10, 2019

Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 25 - 17.

Jul 10, 2019

Committee Consideration and Mark-up Session Held.

Jun 11, 2019

Ordered to be Reported (Amended) by the Yeas and Nays: 26 - 18.

Jun 11, 2019

Committee Consideration and Mark-up Session Held.

Mar 1, 2019

Referred to the Subcommittee on Worker and Family Support.

Jan 9, 2019

Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Jan 9, 2019

Introduced in House

Votes taken on this bill 2

Date	Chamber	What was voted on	Result	Yes–No
Jul 25, 2019	House · vote #505	On Passage	Passed	264–169	See who voted →
Jul 25, 2019	House · vote #504	On Motion to Recommit with Instructions	Failed	200–232	See who voted →

Plain-English summary Congressional Research Service

Rehabilitation for Multiemployer Pensions Act of 2019

This bill establishes the Pension Rehabilitation Administration within the Department of the Treasury and a related trust fund to make loans to certain multiemployer defined benefit pension plans.

To receive a loan, a plan must be (1) in critical and declining status, including any plan with respect to which a suspension of benefits has been approved; (2) in critical status, have a modified funded percentage of less than 40%, and have a ratio of active to inactive participants which is less than two to five; or (3) insolvent, if the plan became insolvent after December 16, 2014, and has not been terminated.

Treasury must transfer amounts, which may include proceeds from bonds and other obligations, from the general fund to the trust fund established by this bill as necessary to fund the program. The Pension Rehabilitation Administration may use the funds, without a further appropriation, to make loans, pay principal and interest on obligations, or for administrative and operating expenses.

The bill allows the sponsor of a multiemployer pension plan that is applying for a loan under this bill to also apply to the Pension Benefit Guaranty Corporation (PBGC) for financial assistance if, after receiving the loan, the plan will still become (or remain) insolvent within the 30-year period beginning on the date of the loan.

The bill also appropriates to the PBGC the funds that are necessary to provide the financial assistance required by this bill.

The bill modifies the requirements for the distribution of remaining pension benefits from certain defined contribution plans to a designated beneficiary upon death of an employee.

The bill increases penalties for failure to file