US HB397 | 2019-2020 | 116th Congress

Status

Spectrum: Strong Partisan Bill (Democrat 189-9-1)
Status: Introduced on January 9 2019 - 25% progression
Action: 2019-06-11 - Ordered to be Reported (Amended) by the Yeas and Nays: 26 - 18.
Text: Latest bill text (Introduced) [PDF]

Summary

Rehabilitation for Multiemployer Pensions Act 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 either in critical and declining status (including any plan with respect to which a suspension of benefits has been approved) or insolvent, if the plan became insolvent after December 16, 2014, and has not been terminated. Treasury must issue bonds to fund the loan program and transfer amounts equal to the proceeds to the trust fund established by this bill. The Pension Rehabilitation Administration may use the funds, without a further appropriation, to make loans, pay principal and interest on the bonds, 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.

Tracking Information

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Title

Rehabilitation for Multiemployer Pensions Act

Sponsors

Rep. Richard Neal [D-MA]Rep. Peter King [R-NY]Rep. Robert Scott [D-VA]Rep. Don Young [R-AK]
Rep. Debbie Dingell [D-MI]Rep. Christopher Smith [R-NJ]Rep. Donald Norcross [D-NJ]Rep. John Katko [R-NY]
Rep. Marcy Kaptur [D-OH]Rep. Jeff Fortenberry [R-NE]Rep. Gwen Moore [D-WI]Rep. Emanuel Cleaver [D-MO]
Rep. Stephen Lynch [D-MA]Rep. Janice Schakowsky [D-IL]Rep. Bill Huizenga [R-MI]Rep. Tim Ryan [D-OH]
Rep. Sean Maloney [D-NY]Rep. Brian Fitzpatrick [R-PA]Rep. Robin Kelly [D-IL]Rep. Betty McCollum [D-MN]
Rep. Julia Brownley [D-CA]Rep. Ro Khanna [D-CA]Rep. Frederica Wilson [D-FL]Rep. Alcee Hastings [D-FL]
Rep. David Loebsack [D-IA]Rep. Joyce Beatty [D-OH]Rep. Chellie Pingree [D-ME]Rep. Albio Sires [D-NJ]
Rep. Pete Stauber [R-MN]Rep. Brian Higgins [D-NY]Rep. Terri Sewell [D-AL]Rep. Conor Lamb [D-PA]
Rep. Nydia Velazquez [D-NY]Rep. Kathleen Rice [D-NY]Rep. Cheri Bustos [D-IL]Rep. Steve Cohen [D-TN]
Rep. Adriano Espaillat [D-NY]Rep. Daniel Lipinski [D-IL]Rep. Gregorio Sablan [I-MP]Rep. Daniel Kildee [D-MI]
Rep. Anthony Brindisi [D-NY]Rep. Dina Titus [D-NV]Rep. Angela Craig [D-MN]Rep. Frank Pallone [D-NJ]
Rep. Adam Schiff [D-CA]Rep. Adam Smith [D-WA]Rep. Rosa DeLauro [D-CT]Rep. Jose Serrano [D-NY]
Rep. Eleanor Norton [D-DC]Rep. Raja Krishnamoorthi [D-IL]Rep. Lucille Roybal-Allard [D-CA]Rep. Ruben Gallego [D-AZ]
Rep. Grace Napolitano [D-CA]Rep. Ted Lieu [D-CA]Rep. Peter Visclosky [D-IN]Rep. James McGovern [D-MA]
Rep. Andy Levin [D-MI]Rep. David Price [D-NC]Rep. Marcia Fudge [D-OH]Rep. Suzanne Bonamici [D-OR]
Rep. Thomas Suozzi [D-NY]Rep. Katie Hill [D-CA]Rep. Ron Kind [D-WI]Rep. Mark Pocan [D-WI]
Rep. Joseph Morelle [D-NY]Rep. Ilhan Omar [D-MN]Rep. Bill Foster [D-IL]Rep. Barbara Lee [D-CA]
Rep. Kurt Schrader [D-OR]Rep. John Garamendi [D-CA]Rep. Debbie Wasserman Schultz [D-FL]Rep. Haley Stevens [D-MI]
Rep. Earl Blumenauer [D-OR]Rep. Joe Courtney [D-CT]Rep. Andy Kim [D-NJ]Rep. Jesus Garcia [D-IL]
Rep. Susan Wild [D-PA]Rep. Alexandria Ocasio-Cortez [D-NY]Rep. Lori Trahan [D-MA]Rep. Zoe Lofgren [D-CA]
Rep. Max Rose [D-NY]Rep. Debra Haaland [D-NM]Rep. Vicente Gonzalez [D-TX]Rep. Jamie Raskin [D-MD]
Rep. Peter DeFazio [D-OR]Rep. Joseph Neguse [D-CO]Rep. David Scott [D-GA]Rep. Dean Phillips [D-MN]
Rep. Pramila Jayapal [D-WA]Rep. Diana DeGette [D-CO]Rep. C.A. Ruppersberger [D-MD]Rep. Peter Welch [D-VT]
Rep. Ann Kuster [D-NH]Rep. Bonnie Coleman [D-NJ]Rep. Mike Quigley [D-IL]Rep. Paul Tonko [D-NY]
Rep. Mark DeSaulnier [D-CA]Rep. Eric Swalwell [D-CA]Rep. Marc Veasey [D-TX]Rep. Elissa Slotkin [D-MI]
Rep. Michael Doyle [D-PA]Rep. Gerald Connolly [D-VA]Rep. Antonio Delgado [D-NY]Rep. Kendra Horn [D-OK]
Rep. Kathy Castor [D-FL]Rep. David Cicilline [D-RI]Rep. Matthew Cartwright [D-PA]Rep. Donald McEachin [D-VA]
Rep. Ben Lujan [D-NM]Rep. John Yarmuth [D-KY]Rep. Scott Peters [D-CA]Rep. Abby Finkenauer [D-IA]
Rep. Pete Aguilar [D-CA]Rep. Raul Grijalva [D-AZ]Rep. Anna Eshoo [D-CA]Rep. Charlie Crist [D-FL]
Rep. Danny Davis [D-IL]Rep. Joaquin Castro [D-TX]Rep. Ed Perlmutter [D-CO]Rep. Bill Pascrell [D-NJ]
Rep. Cindy Axne [D-IA]Rep. Sheila Jackson-Lee [D-TX]Rep. Dwight Evans [D-PA]Rep. Susan Davis [D-CA]
Rep. Alma Adams [D-NC]Rep. James Langevin [D-RI]Rep. John Larson [D-CT]Rep. Kim Schrier [D-WA]
Rep. Raul Ruiz [D-CA]Rep. Al Green [D-TX]Rep. Jerry McNerney [D-CA]Rep. Joseph Kennedy [D-MA]
Rep. Elaine Luria [D-VA]Rep. Grace Meng [D-NY]Rep. Seth Moulton [D-MA]Rep. Lisa Rochester [D-DE]
Rep. Lucy McBath [D-GA]Rep. Hakeem Jeffries [D-NY]Rep. Alan Lowenthal [D-CA]Rep. G. Butterfield [D-NC]
Rep. Abigail Spanberger [D-VA]Rep. Jackie Speier [D-CA]Rep. Bradley Schneider [D-IL]Rep. Bennie Thompson [D-MS]
Rep. Eddie Johnson [D-TX]Rep. Salud Carbajal [D-CA]Rep. Val Demings [D-FL]Rep. Jimmy Panetta [D-CA]
Rep. Mark Takano [D-CA]Rep. Madeleine Dean [D-PA]Rep. Mary Gay Scanlon [D-PA]Rep. Greg Stanton [D-AZ]
Rep. Jared Golden [D-ME]Rep. Linda Sanchez [D-CA]Rep. Al Lawson [D-FL]Rep. Sanford Bishop [D-GA]
Rep. Tom O'Halleran [D-AZ]Rep. Ann Kirkpatrick [D-AZ]Rep. Jerrold Nadler [D-NY]Rep. Tony Cardenas [D-CA]
Rep. Jeff Van Drew [D-NJ]Rep. James Himes [D-CT]Rep. Brad Sherman [D-CA]Rep. Josh Harder [D-CA]
Rep. Rashida Tlaib [D-MI]Rep. Harley Rouda [D-CA]Rep. David Trone [D-MD]Rep. Donna Shalala [D-FL]
Rep. Jahana Hayes [D-CT]Rep. Christopher Pappas [D-NH]Rep. Suzanne Lee [D-NV]Rep. Katherine Clark [D-MA]
Rep. Brenda Lawrence [D-MI]Rep. Steven Horsford [D-NV]Rep. Collin Peterson [D-MN]Rep. Judy Chu [D-CA]
Rep. Chrissy Houlahan [D-PA]Rep. Lacy Clay [D-MO]Rep. Suzan DelBene [D-WA]Rep. Darren Soto [D-FL]
Rep. Tom Malinowski [D-NJ]Rep. Nanette Barragan [D-CA]Rep. Brendan Boyle [D-PA]Rep. Jason Crow [D-CO]
Rep. Juan Vargas [D-CA]Rep. Rick Larsen [D-WA]Rep. Lloyd Doggett [D-TX]Rep. Donald Payne [D-NJ]
Rep. Paul Cook [R-CA]Rep. Gregory Meeks [D-NY]Rep. Jimmy Gomez [D-CA]Rep. Don Beyer [D-VA]
Rep. John Lewis [D-GA]Rep. William Keating [D-MA]Rep. Derek Kilmer [D-WA]Rep. Andre Carson [D-IN]
Rep. Stephanie Murphy [D-FL]Rep. Mike Thompson [D-CA]Rep. Mike Levin [D-CA]

History

DateChamberAction
2019-06-11HouseOrdered to be Reported (Amended) by the Yeas and Nays: 26 - 18.
2019-06-11HouseCommittee Consideration and Mark-up Session Held.
2019-01-09HouseReferred 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.
2019-01-09HouseReferred 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.
2019-01-09HouseReferred 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.
2019-01-09HouseIntroduced in House

Subjects


US Congress State Sources


Bill Comments

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