/  H.R. 397—Rehabilitation for Multiemployer Pensions Act of 2019

H.R. 397 - Rehabilitation for Multiemployer Pensions Act of 2019

Bill Text

  • Rules Committee Print 116-24 PDF XML

    Showing the text of H. R. 397, as ordered reported by the Committee on Education and Labor and the Committee on Ways and Means, with modifications.

  • Text of H.R. 397 PDF XML

    (as reported by the Committee on Ways and Means and the Committee on Education and Labor)

  • H. Rept. 116-159, Part 1 PDF

    Report from the Committee on Ways and Means to accompany H.R. 397

  • H. Rept. 116-159, Part 2 PDF

    Report from the Committee on Education and Labor to accompany H.R. 397

  • Comparative Print PDF

    Comparing the base document H.R. 397, as ordered reported by the Committee on Ways and Means, with the Rules Committee Print 116-24.

  • Comparative Print PDF

    Comparing the base document H.R. 397, as reported by the Committee on Education and Labor, with the Rules Committee Print 116-24.

Rule Information

COMMITTEE ACTION:
REPORTED BY A RECORD VOTE OF 9-4 on Tuesday, July 23, 2019.

FLOOR ACTION ON H. RES. 509: 
Agreed to by record vote of 234-195, after agreeing to the previous question by record vote of 234-198, on Wednesday, July 24, 2019.

MANAGERS: Torres/Burgess

1. Structured rule for H.R. 397.

2. Provides one hour of debate equally divided among and controlled by the chair and ranking minority member of the Committee on Education and Labor and the chair and ranking minority member of the Committee on Ways and Means.

3. Waives all points of order against consideration of the bill.

4. Provides that an amendment in the nature of a substitute consisting of the text of Rules Committee Print 116-24 shall be considered as adopted and the bill, as amended, shall be considered as read.

5. Waives all points of order against provisions in the bill, as amended.

6. Makes in order the further amendment printed in Part A of the report, if offered by the member designated in the report, which shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, and shall not be subject to a demand for division of the question.

7. Waives all points of order against the amendment printed in part A of the report.

8. Provides one motion to recommit with or without instructions.

9. Structured rule for H.R. 3239.

10. Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on the Judiciary.

11. Waives all points of order against consideration of the bill.

12. Makes in order as original text for the purpose of amendment an amendment in the nature of a substitute consisting of the text of Rules Committee Print 116-26 modified by the amendment printed in Part B of the report, and provides that it shall be considered as read.

13. Waives all points of order against that amendment in the nature of a substitute.

14. Makes in order only those further amendments printed in part C of the Rules Committee report. Each such amendment may be offered only in the order printed in the report, may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question.

15. Waives all points of order against the amendments printed in part C of the report.

16. Provides one motion to recommit with or without instructions.

17. Provides that House Resolution 507 is hereby adopted.

18. Provides that it shall be in order at any time on the legislative day of July 25, 2019, or July 26, 2019, for the Speaker to entertain motions that the House suspend the rules and that the Speaker or her designee shall consult with the Minority Leader or his designee on the designation of any matter for consideration pursuant to this section.

19. Section 5 of the rule provides that on any legislative day during the period from July 29, 2019, through September 6, 2019: the Journal of the proceedings of the previous day shall be considered as approved; and the Chair may at any time declare the House adjourned to meet at a date and time to be announced by the Chair in declaring the adjournment.

20. Provides that the Speaker may appoint Members to perform the duties of the Chair for the duration of the period addressed by section 5 of the resolution.

21. Provides that each day during the period addressed by section 5 of the resolution shall not constitute a calendar day for the purposes of section 7 of the War Powers Resolution (50 U.S.C. 1546).

22. Provides that each day during the period addressed by section 5 of the resolution shall not constitute a legislative day for purposes of clause 7 of rule XIII (resolutions of inquiry).

23. Provides that each day during the period addressed by section 5 of this resolution shall not constitute a legislative day for the purposes of clause 7 of rule XV (Consensus Calendar).

Amendments (click headers to sort)

#Version #Sponsor(s)PartySummaryStatus
1Version 1Grothman (WI), Rice, Tom (SC)RepublicanRequires that any plan approved for a loan cannot make any new benefit promises until the loan has been repaid in full.Submitted
2Version 1Roe (TN)RepublicanRequires that any collective bargaining agreement affecting plans repaying loans must receive approval from the Secretary of Treasury and the Secretary of Labor before going into effect.Submitted
3Version 1Roe (TN)RepublicanRequires that any loan be secured by the assets of each labor union that has members in the plan receiving the loan.Submitted
4Version 1Roe (TN)RepublicanSets the loan interest rates at 5% per annum for the first 5 years and 9% per annum thereafter.Made in Order
5Version 1Roe (TN)RepublicanStrikes the section that permits the PRA to forgive a portion of the loan principal and/or renegotiate repayment terms if a plan is unable to make loan payments. Submitted
6Version 1Foxx (NC)RepublicanRequires that in submitting a loan application that demonstrates the plan is reasonably expected to be able to repay the loan, the plan actuary and plan trustees must also sign to guarantee the loan. Submitted
7Version 1Foxx (NC)RepublicanRequires removal of all current trustees in a loan-recipient plan and appointment of an independent trustee by the PRA Director.Submitted
8Version 1Schweikert (AZ), Lesko (AZ)RepublicanFor any plan applying for a loan, the Department of Treasury must conduct an independent analysis of the credit risk and repayment risk, including whether the plan will be able to provide all benefits promised by the plan as of the date the loan is due. Submitted
9Version 1Arrington (TX)RepublicanRequires plans that receive loans to purchase financial guarantees to fully guarantee the loan and financial assistance received. Submitted
10Version 1Buchanan (FL)RepublicanRequires removal of all trustees of plans receiving loans and appointment of independent trustees by the Secretary of Treasury. Submitted
11Version 1Rice, Tom (SC)RepublicanRequires trustees and investment advisors for plans receiving loans to pay back compensation received from the plan.Submitted
12Version 1Rice, Tom (SC)RepublicanRequires plans that receive loans to use single employer pension plan funding and benefit rules. Submitted
13Version 1Estes (KS)RepublicanRequires plans approved for a loan to report information regarding the solvency of their pensions to the Treasury Department.Submitted
14Version 1Davidson (OH)RepublicanRemoves section 9 of the bill which would require IRA beneficiaries to liquidate their IRAs after 10 yearsSubmitted