Text: S.1507 — 111th Congress (2009-2010)All Information (Except Text)

Text available as:

Shown Here:
Reported to Senate (06/09/2010)

Calendar No. 424

111th CONGRESS
2d Session
S. 1507

[Report No. 111–203]


To amend chapter 89 of title 5, United States Code, to reform Postal Service retiree health benefits funding, and for other purposes.


IN THE SENATE OF THE UNITED STATES

July 23, 2009

Mr. Carper (for himself, Mr. Lieberman, and Mr. Inouye) introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs

June 9, 2010

Reported by Mr. Lieberman, with amendments

[Omit the part struck through and insert the part printed in italic]


A BILL

To amend chapter 89 of title 5, United States Code, to reform Postal Service retiree health benefits funding, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Postal Service Retiree Health Benefits Funding Reform Act of 2009”.

SEC. 2. Government contributions.

Section 8906(g)(2)(A) of title 5, United States Code, is amended by striking “shall through September 30, 2016, be paid by the United States Postal Service, and thereafter”.

SEC. 3. Postal Service Retiree Health Benefits Fund.

Section 8909a of title 5, United States Code, is amended—

(1) in the section heading, by striking “Benefit” and inserting “Benefits”; and

(2) in subsection (d)—

(A) in paragraph (2)(B)—

(i) by striking “2017” and inserting “2020”; and

(ii) by striking “2056” and inserting “2059”;

(B) in paragraph (3)—

(i) by striking the matter preceding subparagraph (B) and inserting the following:

“(3)(A) The United States Postal Service shall pay into such Fund—

“(i) $5,400,000,000, not later than September 30, 2007;

“(ii) $5,600,000,000, not later than September 30, 2008;

“(iii) $1,700,000,000, not later than September 30, 2009;

“(iv) $1,700,000,000, not later than September 30, 2010;

“(v) $3,100,000,000, not later than September 30, 2011;

“(vi) $3,900,000,000, not later than September 30, 2012;

“(vii) $4,100,000,000, not later than September 30, 2013;

“(viii) $4,300,000,000, not later than September 30, 2014;

“(ix) $4,500,000,000, not later than September 30, 2015;

“(x) $4,700,000,000, not later than September 30, 2016;

“(xi) $4,900,000,000, not later than September 30, 2017;

“(xii) $5,100,000,000, not later than September 30, 2018; and

“(xiii) $5,300,000,000, not later than September 30, 2019.”;

(ii) by redesignating subparagraph (B) as subparagraph (C), and inserting after subparagraph (A) the following:

“(B) Not later than September 30, 2009, and by September 30 of each succeeding year through 2019, the United States Postal Service shall pay into such Fund the net present value computed under paragraph (1).”; and

(iii) in subparagraph (C) (as redesignated in this subparagraph), by striking “2017” and inserting “2020”; and

(C) in paragraph 4, by striking “financial reporting under subchapter II of chapter 35 of title 31” and inserting “valuations under chapter 84”.

SEC. 4. Temporary increase to Postal Service borrowing limitations.

(a) In general.—For fiscal years 2009 and 2010, section 2005(a) of title 39, United States Code, shall be applied by substituting “$5,000,000,000” for the limitation specified in paragraph (1).

(b) Maximum amount limitation and repayment.—Any amount borrowed under the increase in borrowing authority provided under subsection (a) of this section—

(1) shall not apply to the maximum amount allowable under section 2005(a)(2) of title 39, United States Code; and

(2) shall be repaid by the Postal Service to the United States Treasury by not later than the end of fiscal year 2019.

(b) Repayment and limitation on outstanding debt.—Any amount borrowed under the increase in borrowing authority provided under subsection (a) of this section shall be repaid by the Postal Service to the United States Treasury by not later than the end of fiscal year 2019. The Postal Service's total outstanding debt may not exceed the maximum amount allowable under section 2005(a)(2) of title 39, United States Code.

SEC. 5. Consideration of Postal Service financial condition.

Section 1207(c)(2) of title 39, United states Code, is amended by inserting “The arbitration board shall consider the financial condition of the Postal Service in making any decision.” after the first sentence.

SEC. 6. Assessment of future business model of the postal service.

Section 710(a) of the Postal Accountability and Enhancement Act (Public Law 109–435; 120 Stat. 3247) is amended by striking the first and second sentences and inserting “The Comptroller General of the United States shall prepare and submit to the President and Congress a report that evaluates the options and strategies for the long-term structural and operational reforms of the United States Postal Service necessary to achieve financial stability and long-term fiscal viability. The final report required by this section shall be submitted by March 31, 2010.”.

SEC. 7. Prohibition on bonuses.

Section 3686 of title 39, United states Code, is amended—

(1) by redesignating subsection (e) as subsection (f); and

(2) by inserting after subsection (d) the following:

“(e) Prohibition on bonuses.—Notwithstanding any provision of this section, including subsection (c), any bonus under this section—

“(1) subject to paragraph (2), shall be paid on October 1 following the date such bonus would have otherwise been paid if not for this subsection; and

“(2) shall not be paid if the Postal Service had a year-end net loss for the fiscal year preceding that October 1.”.

SEC. 5. Effective date and application.

(a) In general.—This Act, including the amendments made by this Act, shall be effective as of October 1, 2008.

(b) Application to fiscal year 2009 payments.—Any payments made by the Postal Service under section 8906(g)(2)(A) of title 5, United States Code, for which the Postal Service is not obligated to pay by reason of the amendment made by section 2 of this Act shall be credited against the payments due by September 30, 2009, under section 8909a(d)(3) of title 5, United States Code, as amended by this Act.

SEC. 8. Effective dates and application.

(a) In general.—

(1) EFFECTIVE DATE.—Sections 2, 3, and 4, including the amendments made by those sections, shall be effective as of October 1, 2008.

(2) APPLICATION TO FISCAL YEAR 2009 PAYMENTS.—Any payments made by the Postal Service under section 8906(g)(2)(A) of title 5, United States Code, for which the Postal Service is not obligated to pay by reason of the amendment made by section 2 of this Act shall be credited against the payments due by September 30, 2009, under section 8909a(d)(3) of title 5, United States Code, as amended by this Act.

(b) Other provisions.—The amendments made by sections 5, 6, and 7 shall take effect on the date of enactment of this Act.


Calendar No. 424

111th CONGRESS
     2d Session
S. 1507
[Report No. 111–203]

A BILL
To amend chapter 89 of title 5, United States Code, to reform Postal Service retiree health benefits funding, and for other purposes.

June 9, 2010
Reported with amendments