S.1714 - Miners Protection Act of 2015114th Congress (2015-2016)
|Sponsor:||Sen. Manchin, Joe, III [D-WV] (Introduced 07/07/2015)|
|Committees:||Senate - Finance|
|Latest Action:||07/07/2015 Read twice and referred to the Committee on Finance. (All Actions)|
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Summary: S.1714 — 114th Congress (2015-2016)All Bill Information (Except Text)
Introduced in Senate (07/07/2015)
Miners Protection Act of 2015
This bill amends the Surface Mining Control and Reclamation Act of 1977 to address potential shortages in the Multiemployer Health Benefit Plan for payment of health care benefits to retired coal miners by expanding the eligible uses of interest transferable to such plan from the Abandoned Mine Reclamation Fund, and supplemental payments from the General Fund of the Treasury. The calculation of such interest and payments shall be made by taking into account only those beneficiaries who are actually enrolled in the plan as of the enactment of this Act, as well as those retirees whose health care benefits, payable directly by an employer in the bituminous coal industry under a coal wage agreement, would be denied or reduced as a result of a bankruptcy proceeding commenced in 2012.
The bill requires the Department of the Treasury to transfer to the trustees of the 1974 United Mine Workers of America (UMWA) Pension Plan additional funds to pay pension benefits required under that plan, if the $490 million cap on certain transfers to the UMWA Combined Benefit Fund and distributions to states and Indian tribes exceed the aggregate amount required to be transferred to them.
The bill also expands the annual reporting requirements of the trustees of the 1974 UMWA Pension Plan on plan solvency and value of plan assets.