Summary: H.R.3586 — 108th Congress (2003-2004)All Information (Except Text)

There is one summary for H.R.3586. Bill summaries are authored by CRS.

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Introduced in House (11/21/2003)

Coal Industry Retiree Health Benefit Stability and Fairness Act - Amends the Internal Revenue Code to authorize appropriations from the U.S. Treasury to the Combined Fund to: (1) pay any benefit or administrative costs of unassigned beneficiaries of the Combined Fund remaining after the Abandoned Mine Reclamation Fund transfers; and (2) eliminate any annual deficit in any premium account of the Combined Fund as certified by the Trustees of the Combined Fund. Requires an annual audit of the Combined Fund by the Comptroller General. Provides for the appointment of two trustees by the Secretary of the Treasury to the board of the Fund.

Makes other related revisions, including: (1) modifying premiums; (2) providing for refunds to certain operators; and (3) reductions in annual health benefit premiums to the Fund in the event of a surplus.

Redefines a coal wage agreement as: (1) the 1988 agreement, meaning the collective bargaining agreement between the settlors which became effective on February 1, 1988; and (2) the coal wage agreement, meaning the 1988 agreement and any predecessor to the 1988 agreement.