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113th Congress                                            Rept. 113-520
                        HOUSE OF REPRESENTATIVES
 2d Session                                                      Part 1

======================================================================



 
             HIGHWAY AND TRANSPORTATION FUNDING ACT OF 2014

                                _______
                                

                 July 14, 2014.--Ordered to be printed

                                _______
                                

            Mr. Camp, from the Committee on Ways and Means, 
                        submitted the following

                              R E P O R T

                             together with

                            ADDITIONAL VIEWS

                        [To accompany H.R. 5021]

      [Including cost estimate of the Congressional Budget Office]

    The Committee on Ways and Means, to whom was referred the 
bill (H.R. 5021) to provide an extension of Federal-aid 
highway, highway safety, motor carrier safety, transit, and 
other programs funded out of the Highway Trust Fund, and for 
other purposes, having considered the same, report favorably 
thereon with an amendment and recommend that the bill as 
amended do pass.

                                CONTENTS

                                                                   Page
  I. SUMMARY AND BACKGROUND..........................................10
 II. EXPLANATION OF THE BILL.........................................11
          A. Extension of Highway Trust Fund Expenditure 
              Authority (sec. 2001 of the bill and secs. 9503, 
              9504 and 9508 of the Code).........................    11
          B. Funding of the Highway Trust Fund (sec. 2002 of the 
              bill and secs. 9503(f) and 9508(c) of the Code)....    13
          C. Pension Funding Stabilization (sec. 2003 of the bill 
              and secs. 430 and 436 of the Code).................    14
          D. Customs User Fees (sec. 2004 of the bill and sec. 
              58c(j)(3) of Title 19 of the United States Code)...    20
III. VOTES OF THE COMMITTEE..........................................21
 IV. BUDGET EFFECTS OF THE BILL......................................22
  V. OTHER MATTERS TO BE DISCUSSED UNDER THE RULES OF THE HOUSE......33
 VI. CHANGES IN EXISTING LAW MADE BY THE BILL, AS REPORTED...........35
VII. ADDITIONAL VIEWS................................................56
    The amendment is as follows:
  Strike all after the enacting clause and insert the 
following:

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

  (a) Short Title.--This Act may be cited as the ``Highway and 
Transportation Funding Act of 2014''.
  (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; table of contents.

            TITLE I--SURFACE TRANSPORTATION PROGRAM EXTENSION

                    Subtitle A--Federal-Aid Highways

Sec. 1001. Extension of Federal-aid highway programs.
Sec. 1002. Administrative expenses.

            Subtitle B--Extension of Highway Safety Programs

Sec. 1101. Extension of National Highway Traffic Safety Administration 
          highway safety programs.
Sec. 1102. Extension of Federal Motor Carrier Safety Administration 
          programs.
Sec. 1103. Dingell-Johnson Sport Fish Restoration Act.

               Subtitle C--Public Transportation Programs

Sec. 1201. Formula grants for rural areas.
Sec. 1202. Apportionment of appropriations for formula grants.
Sec. 1203. Authorizations for public transportation.
Sec. 1204. Bus and bus facilities formula grants.

                     Subtitle D--Hazardous Materials

Sec. 1301. Authorization of appropriations.

                      TITLE II--REVENUE PROVISIONS

Sec. 2001. Extension of Highway Trust Fund expenditure authority.
Sec. 2002. Funding of Highway Trust Fund.
Sec. 2003. Funding stabilization.
Sec. 2004. Extension of Customs user fees.

           TITLE I--SURFACE TRANSPORTATION PROGRAM EXTENSION

                    Subtitle A--Federal-Aid Highways

SEC. 1001. EXTENSION OF FEDERAL-AID HIGHWAY PROGRAMS.

  (a) In General.--Except as provided in this subtitle, requirements, 
authorities, conditions, eligibilities, limitations, and other 
provisions authorized under divisions A and E of MAP-21 (Public Law 
112-141), the SAFETEA-LU Technical Corrections Act of 2008 (Public Law 
110-244), titles I, V, and VI of SAFETEA-LU (Public Law 109-59), titles 
I and V of the Transportation Equity Act for the 21st Century (Public 
Law 105-178), the National Highway System Designation Act of 1995 (104-
59), titles I and VI of the Intermodal Surface Transportation Act of 
1991 (Public Law 102-240), and title 23, United States Code (excluding 
chapter 4 of that title), which would otherwise expire on or cease to 
apply after September 30, 2014, are incorporated by reference and shall 
continue in effect until May 31, 2015.
  (b) Authorization of Appropriations.--
          (1) Highway trust fund.--Except as provided in section 1002, 
        there is authorized to be appropriated out of the Highway Trust 
        Fund (other than the Mass Transit Account) for the period 
        beginning on October 1, 2014, and ending on May 31, 2015, a sum 
        equal to \243/365\ of the total amount authorized to be 
        appropriated out of the Highway Trust Fund for programs, 
        projects, and activities for fiscal year 2014 under divisions A 
        and E of MAP-21 (Public Law 112-141) and title 23, United 
        States Code (excluding chapter 4 of that title).
          (2) General fund.--Section 1123(h)(1) of MAP-21 (23 U.S.C. 
        202 note) is amended by inserting ``and $19,972,603 out of the 
        general fund of the Treasury to carry out the program for the 
        period beginning on October 1, 2014, and ending on May 31, 
        2015'' before the period at the end.
  (c) Use of Funds.--
          (1) In general.--Except as otherwise expressly provided in 
        this subtitle, funds authorized to be appropriated under 
        subsection (b)(1) for the period beginning on October 1, 2014, 
        and ending on May 31, 2015, shall be distributed, administered, 
        limited, and made available for obligation in the same manner 
        and at the same levels as \243/365\ of the amounts of funds 
        authorized to be appropriated out of the Highway Trust Fund 
        (other than the Mass Transit Account) for fiscal year 2014 to 
        carry out programs, projects, activities, eligibilities, and 
        requirements under MAP-21 (Public Law 112-141), the SAFETEA-LU 
        Technical Corrections Act of 2008 (Public Law 110-244), 
        SAFETEA-LU (Public Law 109-59), titles I and V of the 
        Transportation Equity Act for the 21st Century (Public Law 105-
        178), the National Highway System Designation Act of 1995 (104 
        -59), titles I and VI of the Intermodal Surface Transportation 
        Act of 1991 (Public Law 102-240), and title 23, United States 
        Code (excluding chapter 4 of that title).
          (2) Contract authority.--Funds authorized to be appropriated 
        out of the Highway Trust Fund (other than the Mass Transit 
        Account) under this section shall be--
                  (A) available for obligation and shall be 
                administered in the same manner as if such funds were 
                apportioned under chapter 1 of title 23, United States 
                Code; and
                  (B) subject to section 1102 of MAP-21 (23 U.S.C. 104 
                note), as amended by this subsection.
          (3) Obligation ceiling.--Section 1102 of MAP-21 (23 U.S.C. 
        104 note) is amended--
                  (A) in subsection (a)--
                          (i) by striking ``and'' at the end of 
                        paragraph (1);
                          (ii) by striking the period at the end of 
                        paragraph (2) and inserting ``; and''; and
                          (iii) by adding at the end the following:
          ``(3) $26,800,569,863 for the period beginning on October 1, 
        2014, and ending on May 31, 2015.'';
                  (B) in subsection (b)--
                          (i) in paragraph (10) by striking ``2011'' 
                        and inserting ``2012''; and
                          (ii) in paragraph (12) by inserting ``, and 
                        for the period beginning on October 1, 2014, 
                        and ending on May 31, 2015, only in an amount 
                        equal to $639,000,000, less any reductions that 
                        would have otherwise been required for that 
                        year by section 251A of the Balanced Budget and 
                        Emergency Deficit Control Act of 1985 (2 U.S.C. 
                        901a), then multiplied by \243/365\ for that 
                        period'' after ``those fiscal years'';
                  (C) in subsection (c)--
                          (i) in the matter preceding paragraph (1) by 
                        inserting ``and for the period beginning on 
                        October 1, 2014, and ending on May 31, 2015'' 
                        after ``2014'';
                          (ii) by striking paragraph (1)(A) and 
                        inserting the following:
                  ``(A) amounts provided for administrative expenses 
                and programs; and'';
                          (iii) in paragraph (2) in the matter 
                        preceding subparagraph (A) by inserting ``or, 
                        for the period beginning on October 1, 2014, 
                        and ending May 31, 2015, that is equal to \243/
                        365\ of such unobligated balance'' after 
                        ``unobligated balance of amounts'';
                          (iv) in paragraph (5) by striking ``section 
                        204'' and inserting ``sections 202 and 204''; 
                        and
                          (v) by inserting ``or period'' after ``the 
                        fiscal year'' each place it appears;
                  (D) in subsection (d) in the matter preceding 
                paragraph (1) by striking ``2014'' and inserting 
                ``2015'';
                  (E) in subsection (f)--
                          (i) in paragraph (1)--
                                  (I) in the matter preceding 
                                subparagraph (A) by inserting ``and for 
                                the period beginning on October 1, 
                                2014, and ending on May 31, 2015'' 
                                after ``2014''; and
                                  (II) in each of subparagraphs (A) and 
                                (B) by inserting ``or period'' after 
                                ``the fiscal year''; and
                          (ii) in paragraph (3) by striking ``section 
                        133(c)'' and inserting ``section 133(b)''.

SEC. 1002. ADMINISTRATIVE EXPENSES.

  (a) Authorization of Contract Authority.--Notwithstanding any other 
provision of this Act or any other law, there is authorized to be 
appropriated from the Highway Trust Fund (other than the Mass Transit 
Account), from amounts provided under section 1001, for administrative 
expenses of the Federal-aid highway program $292,931,507 for the period 
beginning on October 1, 2014, and ending on May 31, 2015.
  (b) Contract Authority.--Funds authorized to be appropriated by this 
section shall be--
          (1) available for obligation, and shall be administered, in 
        the same manner as if such funds were apportioned under chapter 
        1 of title 23, United States Code, except that such funds shall 
        remain available until expended; and
          (2) subject to the limitation on obligations for Federal-aid 
        highways and highway safety construction programs for the 
        period beginning on October 1, 2014, and ending on May 31, 
        2015, specified in section 1102 of MAP-21 (23 U.S.C. 104 note), 
        as amended by this subtitle.

            Subtitle B--Extension of Highway Safety Programs

SEC. 1101. EXTENSION OF NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION 
                    HIGHWAY SAFETY PROGRAMS.

  (a) Extension of Programs.--
          (1) Highway safety programs.--Section 31101(a)(1) of MAP-21 
        (126 Stat. 733) is amended--
                  (A) in subparagraph (A) by striking ``and'' at the 
                end;
                  (B) in subparagraph (B) by striking the period at the 
                end and inserting ``; and''; and
                  (C) by adding at the end the following:
                  ``(C) $156,452,055 for the period beginning on 
                October 1, 2014, and ending on May 31, 2015.''.
          (2) Highway safety research and development.--Section 
        31101(a)(2) of MAP-21 (126 Stat. 733) is amended--
                  (A) in subparagraph (A) by striking ``and'' at the 
                end;
                  (B) in subparagraph (B) by striking the period at the 
                end and inserting ``; and''; and
                  (C) by adding at the end the following:
                  ``(C) $75,563,014 for the period beginning on October 
                1, 2014, and ending on May 31, 2015.''.
          (3) National priority safety programs.--Section 31101(a)(3) 
        of MAP-21 (126 Stat. 733) is amended--
                  (A) in subparagraph (A) by striking ``and'' at the 
                end;
                  (B) in subparagraph (B) by striking the period at the 
                end and inserting ``; and''; and
                  (C) by adding at the end the following:
                  ``(C) $181,084,932 for the period beginning on 
                October 1, 2014, and ending on May 31, 2015.''.
          (4) National driver register.--Section 31101(a)(4) of MAP-21 
        (126 Stat. 733) is amended--
                  (A) in subparagraph (A) by striking ``and'' at the 
                end;
                  (B) in subparagraph (B) by striking the period at the 
                end and inserting ``; and''; and
                  (C) by adding at the end the following:
                  ``(C) $3,328,767 for the period beginning on October 
                1, 2014, and ending on May 31, 2015.''.
          (5) High visibility enforcement program.--
                  (A) Authorization of appropriations.--Section 
                31101(a)(5) of MAP-21 (126 Stat. 733) is amended--
                          (i) in subparagraph (A) by striking ``and'' 
                        at the end;
                          (ii) in subparagraph (B) by striking the 
                        period at the end and inserting ``; and''; and
                          (iii) by adding at the end the following:
                  ``(C) $19,306,849 for the period beginning on October 
                1, 2014, and ending on May 31, 2015.''.
                  (B) Law enforcement campaigns.--Section 2009(a) of 
                SAFETEA-LU (23 U.S.C. 402 note) is amended by inserting 
                ``and in the period beginning on October 1, 2014, and 
                ending on May 31, 2015,'' after ``fiscal years 2013 and 
                2014'' each place it appears.
          (6) Administrative expenses.--Section 31101(a)(6) of MAP-21 
        (126 Stat. 733) is amended--
                  (A) in subparagraph (A) by striking ``and'' at the 
                end;
                  (B) in subparagraph (B) by striking the period at the 
                end and inserting ``; and''; and
                  (C) by adding at the end the following:
                  ``(C) $16,976,712 for the period beginning on October 
                1, 2014, and ending on May 31, 2015.''.
  (b) Cooperative Research and Evaluation.--Section 403(f)(1) of title 
23, United States Code, is amended by inserting ``ending before October 
1, 2014, and $1,664,384 of the total amount available for apportionment 
to the States for highway safety programs under section 402(c) in the 
period beginning on October 1, 2014, and ending on May 31, 2015,'' 
after ``each fiscal year''.
  (c) Applicability of Title 23.--Section 31101(c) of MAP-21 (126 Stat. 
733) is amended by inserting ``and for the period beginning on October 
1, 2014, and ending on May 31, 2015,'' after ``fiscal years 2013 and 
2014''.

SEC. 1102. EXTENSION OF FEDERAL MOTOR CARRIER SAFETY ADMINISTRATION 
                    PROGRAMS.

  (a) Motor Carrier Safety Grants.--Section 31104(a) of title 49, 
United States Code, is amended--
          (1) by striking ``and'' at the end of paragraph (8);
          (2) by striking the period at the end of paragraph (9) and 
        inserting ``; and'' ; and
          (3) by adding at the end the following:
          ``(10) $145,134,247 for the period beginning on October 1, 
        2014, and ending on May 31, 2015.''.
  (b) Administrative Expenses.--Section 31104(i)(1) of title 49, United 
States Code, is amended--
          (1) by striking ``and'' at the end of subparagraph (H);
          (2) by striking the period at the end of subparagraph (I) and 
        inserting ``; and''; and
          (3) by adding at the end the following:
                  ``(J) $172,430,137 for the period beginning on 
                October 1, 2014, and ending on May 31, 2015.''.
  (c) Grant Programs.--
          (1) Commercial driver's license program improvement grants.--
        Section 4101(c)(1) of SAFETEA-LU (119 Stat. 1715) is amended by 
        inserting before the period at the end the following: ``and 
        $19,972,603 for the period beginning on October 1, 2014, and 
        ending on May 31, 2015''.
          (2) Border enforcement grants.--Section 4101(c)(2) of 
        SAFETEA-LU (119 Stat. 1715) is amended by inserting before the 
        period at the end the following: ``and $21,304,110 for the 
        period beginning on October 1, 2014, and ending on May 31, 
        2015''.
          (3) Performance and registration information system 
        management grant program.--Section 4101(c)(3) of SAFETEA-LU 
        (119 Stat. 1715) is amended by inserting before the period at 
        the end the following: ``and $3,328,767 for the period 
        beginning on October 1, 2014, and ending on May 31, 2015''.
          (4) Commercial vehicle information systems and networks 
        deployment program.--Section 4101(c)(4) of SAFETEA-LU (119 
        Stat. 1715) is amended by inserting before the period at the 
        end the following: ``and $16,643,836 for the period beginning 
        on October 1, 2014, and ending on May 31, 2015''.
          (5) Safety data improvement grants.--Section 4101(c)(5) of 
        SAFETEA-LU (119 Stat. 1715) is amended by inserting before the 
        period at the end the following: ``and $1,997,260 for the 
        period beginning on October 1, 2014, and ending on May 31, 
        2015''.
  (d) High-Priority Activities.--Section 31104(k)(2) of title 49, 
United States Code, is amended by inserting ``and up to $9,986,301 for 
the period beginning on October 1, 2014, and ending on May 31, 2015,'' 
after ``2014''.
  (e) New Entrant Audits.--Section 31144(g)(5)(B) of title 49, United 
States Code, is amended by inserting ``and up to $21,304,110 for the 
period beginning on October 1, 2014, and ending on May 31, 2015,'' 
after ``per fiscal year''.
  (f) Outreach and Education.--Section 4127(e) of SAFETEA-LU (119 Stat. 
1741) is amended by inserting ``and $2,663,014 to the Federal Motor 
Carrier Safety Administration for the period beginning on October 1, 
2014, and ending on May 31, 2015,'' after ``2014''.
  (g) Grant Program for Commercial Motor Vehicle Operators.--Section 
4134(c) of SAFETEA-LU (49 U.S.C. 31301 note) is amended by inserting 
``and $665,753 for the period beginning on October 1, 2014, and ending 
on May 31, 2015,'' after ``2014''.

SEC. 1103. DINGELL-JOHNSON SPORT FISH RESTORATION ACT.

  Section 4 of the Dingell-Johnson Sport Fish Restoration Act (16 
U.S.C. 777c) is amended--
          (1) in subsection (a) in the matter preceding paragraph (1) 
        by inserting ``and for the period beginning on October 1, 2014, 
        and ending on May 31, 2015'' after ``2014''; and
          (2) in subsection (b)(1)(A) by striking ``for each'' and all 
        that follows before ``the Secretary of the Interior'' and 
        inserting ``for each fiscal year ending before October 1, 2014, 
        and for the period beginning on October 1, 2014, and ending on 
        May 31, 2015,''.

               Subtitle C--Public Transportation Programs

SEC. 1201. FORMULA GRANTS FOR RURAL AREAS.

  Section 5311(c)(1) of title 49, United States Code, is amended--
          (1) in subparagraph (A) by inserting ``for each fiscal year 
        ending before October 1, 2014, and $3,328,767 for the period 
        beginning on October 1, 2014, and ending on May 31, 2015,'' 
        before ``shall be distributed''; and
          (2) in subparagraph (B) by inserting ``for each fiscal year 
        ending before October 1, 2014, and $16,643,836 for the period 
        beginning on October 1, 2014, and ending on May 31, 2015,'' 
        before ``shall be apportioned''.

SEC. 1202. APPORTIONMENT OF APPROPRIATIONS FOR FORMULA GRANTS.

  Section 5336(h)(1) of title 49, United States Code, is amended by 
inserting ``for each fiscal year ending before October 1, 2014, and 
$19,972,603 for the period beginning on October 1, 2014, and ending on 
May 31, 2015,'' before ``shall be set aside''.

SEC. 1203. AUTHORIZATIONS FOR PUBLIC TRANSPORTATION.

  (a) Formula Grants.--Section 5338(a) of title 49, United States Code, 
is amended--
          (1) in paragraph (1) by striking ``and $8,595,000,000 for 
        fiscal year 2014'' and inserting ``, $8,595,000,000 for fiscal 
        year 2014, and $5,722,150,685 for the period beginning on 
        October 1, 2014, and ending on May 31, 2015'';
          (2) in paragraph (2)--
                  (A) in subparagraph (A) by striking ``and 
                $128,800,000 for fiscal year 2014'' and inserting ``, 
                $128,800,000 for fiscal year 2014, and $85,749,041 for 
                the period beginning on October 1, 2014, and ending on 
                May 31, 2015,'';
                  (B) in subparagraph (B) by inserting ``and $6,657,534 
                for the period beginning on October 1, 2014, and ending 
                on May 31, 2015,'' after ``2014'';
                  (C) in subparagraph (C) by striking ``and 
                $4,458,650,000 for fiscal year 2014'' and inserting ``, 
                $4,458,650,000 for fiscal year 2014, and $2,968,361,507 
                for the period beginning on October 1, 2014, and ending 
                on May 31, 2015,'';
                  (D) in subparagraph (D) by striking ``and 
                $258,300,000 for fiscal year 2014'' and inserting ``, 
                $258,300,000 for fiscal year 2014, and $171,964,110 for 
                the period beginning on October 1, 2014, and ending on 
                May 31, 2015,'';
                  (E) in subparagraph (E)--
                          (i) by striking ``and $607,800,000 for fiscal 
                        year 2014'' and inserting ``, $607,800,000 for 
                        fiscal year 2014, and $404,644,932 for the 
                        period beginning on October 1, 2014, and ending 
                        on May 31, 2015,'';
                          (ii) by striking ``and $30,000,000 for fiscal 
                        year 2014'' and inserting ``, $30,000,000 for 
                        fiscal year 2014, and $19,972,603 for the 
                        period beginning on October 1, 2014, and ending 
                        on May 31, 2015,''; and
                          (iii) by striking ``and $20,000,000 for 
                        fiscal year 2014'' and inserting ``, 
                        $20,000,000 for fiscal year 2014, and 
                        $13,315,068 for the period beginning on October 
                        1, 2014, and ending on May 31, 2015,'';
                  (F) in subparagraph (F) by inserting ``and $1,997,260 
                for the period beginning on October 1, 2014, and ending 
                on May 31, 2015,'' after ``2014'';
                  (G) in subparagraph (G) by inserting ``and $3,328,767 
                for the period beginning on October 1, 2014, and ending 
                on May 31, 2015,'' after ``2014'';
                  (H) in subparagraph (H) by inserting ``and $2,563,151 
                for the period beginning on October 1, 2014, and ending 
                on May 31, 2015,'' after ``2014'';
                  (I) in subparagraph (I) by striking ``and 
                $2,165,900,000 for fiscal year 2014'' and inserting ``, 
                $2,165,900,000 for fiscal year 2014, and $1,441,955,342 
                for the period beginning on October 1, 2014, and ending 
                on May 31, 2015,'';
                  (J) in subparagraph (J) by striking ``and 
                $427,800,000 for fiscal year 2014'' and inserting ``, 
                $427,800,000 for fiscal year 2014, and $284,809,315 for 
                the period beginning on October 1, 2014, and ending on 
                May 31, 2015,''; and
                  (K) in subparagraph (K) by striking ``and 
                $525,900,000 for fiscal year 2014'' and inserting ``, 
                $525,900,000 for fiscal year 2014, and $350,119,726 for 
                the period beginning on October 1, 2014, and ending on 
                May 31, 2015,''.
  (b) Research, Development Demonstration and Deployment Projects.--
Section 5338(b) of title 49, United States Code, is amended by striking 
``and $70,000,000 for fiscal year 2014'' and inserting ``, $70,000,000 
for fiscal year 2014, and $46,602,740 for the period beginning on 
October 1, 2014, and ending on May 31, 2015''.
  (c) Transit Cooperative Research Program.--Section 5338(c) of title 
49, United States Code, is amended by striking ``and $7,000,000 for 
fiscal year 2014'' and inserting ``, $7,000,000 for fiscal year 2014, 
and $4,660,274 for the period beginning on October 1, 2014, and ending 
on May 31, 2015''.
  (d) Technical Assistance and Standards Development.--Section 5338(d) 
of title 49, United States Code, is amended by striking ``and 
$7,000,000 for fiscal year 2014'' and inserting ``, $7,000,000 for 
fiscal year 2014, and $4,660,274 for the period beginning on October 1, 
2014, and ending on May 31, 2015''.
  (e) Human Resources and Training.--Section 5338(e) of title 49, 
United States Code, is amended by striking ``and $5,000,000 for fiscal 
year 2014'' and inserting ``, $5,000,000 for fiscal year 2014, and 
$3,328,767 for the period beginning on October 1, 2014, and ending on 
May 31, 2015''.
  (f) Capital Investment Grants.--Section 5338(g) of title 49, United 
States Code, is amended by striking ``and $1,907,000,000 for fiscal 
year 2014'' and inserting ``, $1,907,000,000 for fiscal year 2014, and 
$1,269,591,781 for the period beginning on October 1, 2014, and ending 
on May 31, 2015''.
  (g) Administration.--Section 5338(h) of title 49, United States Code, 
is amended--
          (1) in paragraph (1) by striking ``and $104,000,000 for 
        fiscal year 2014'' and inserting ``, $104,000,000 for fiscal 
        year 2014, and $69,238,356 for the period beginning on October 
        1, 2014, and ending on May 31, 2015'';
          (2) in paragraph (2) by inserting ``for each of fiscal years 
        2013 and 2014 and not less than $3,328,767 for the period 
        beginning on October 1, 2014, and ending on May 31, 2015,'' 
        before ``shall be available''; and
          (3) in paragraph (3) by inserting ``for each of fiscal years 
        2013 and 2014 and not less than $665,753 for the period 
        beginning on October 1, 2014, and ending on May 31, 2015,'' 
        before ``shall be available''.

SEC. 1204. BUS AND BUS FACILITIES FORMULA GRANTS.

  Section 5339(d)(1) of title 49, United States Code, is amended--
          (1) by inserting ``for each of fiscal years 2013 and 2014 and 
        $43,606,849 for the period beginning on October 1, 2014, and 
        ending on May 31, 2015,'' after ``$65,500,000'';
          (2) by inserting ``for each such fiscal year and $832,192 for 
        such period'' after ``$1,250,000''; and
          (3) by inserting ``for each such fiscal year and $332,877 for 
        such period'' after ``$500,000''.

                    Subtitle D--Hazardous Materials

SEC. 1301. AUTHORIZATION OF APPROPRIATIONS.

  (a) In General.--Section 5128(a) of title 49, United States Code, is 
amended--
          (1) in paragraph (1) by striking ``and'' at the end;
          (2) in paragraph (2) by striking the period at the end and 
        inserting ``; and''; and
          (3) by adding at the end the following:
          ``(3) $28,468,948 for the period beginning on October 1, 
        2014, and ending on May 31, 2015.''.
  (b) Hazardous Materials Emergency Preparedness Fund.--Section 5128(b) 
of title 49, United States Code, is amended--
          (1) by redesignating paragraphs (1) through (5) as 
        subparagraphs (A) through (E), respectively;
          (2) by striking ``From the'' and inserting the following:
          ``(1) Fiscal years 2013 and 2014.--From the''; and
          (3) by adding at the end the following:
          ``(2) Fiscal year 2015.--From the Hazardous Materials 
        Emergency Preparedness Fund established under section 5116(i), 
        the Secretary may expend for the period beginning on October 1, 
        2014, and ending on May 31, 2015--
                  ``(A) $125,162 to carry out section 5115;
                  ``(B) $14,513,425 to carry out subsections (a) and 
                (b) of section 5116, of which not less than $9,087,534 
                shall be available to carry out section 5116(b);
                  ``(C) $99,863 to carry out section 5116(f);
                  ``(D) $416,096 to publish and distribute the 
                Emergency Response Guidebook under section 5116(i)(3); 
                and
                  ``(E) $665,753 to carry out section 5116(j).''.
  (c) Hazardous Materials Training Grants.--Section 5128(c) of title 
49, United States Code, is amended by inserting ``and $2,663,014 for 
the period beginning on October 1, 2014, and ending on May 31, 2015,'' 
after ``2014''.

                      TITLE II--REVENUE PROVISIONS

SEC. 2001. EXTENSION OF HIGHWAY TRUST FUND EXPENDITURE AUTHORITY.

  (a) Highway Trust Fund.--Section 9503 of the Internal Revenue Code of 
1986 is amended--
          (1) by striking ``October 1, 2014'' in subsections (b)(6)(B), 
        (c)(1), and (e)(3) and inserting ``June 1, 2015'', and
          (2) by striking ``MAP-21'' in subsections (c)(1) and (e)(3) 
        and inserting ``Highway and Transportation Funding Act of 
        2014''.
  (b) Sport Fish Restoration and Boating Trust Fund.--Section 9504 of 
the Internal Revenue Code of 1986 is amended--
          (1) by striking ``MAP-21'' each place it appears in 
        subsection (b)(2) and inserting ``Highway and Transportation 
        Funding Act of 2014'', and
          (2) by striking ``October 1, 2014'' in subsection (d)(2) and 
        inserting ``June 1, 2015''.
  (c) Leaking Underground Storage Tank Trust Fund.--Paragraph (2) of 
section 9508(e) of the Internal Revenue Code of 1986 is amended by 
striking ``October 1, 2014'' and inserting ``June 1, 2015''.

SEC. 2002. FUNDING OF HIGHWAY TRUST FUND.

  (a) In General.--Subsection (f) of section 9503 of the Internal 
Revenue Code of 1986 is amended by redesignating paragraph (5) as 
paragraph (7) and by inserting after paragraph (4) the following new 
paragraphs:
          ``(5) Additional sums.--Out of money in the Treasury not 
        otherwise appropriated, there is hereby appropriated--
                  ``(A) $7,765,000,000 to the Highway Account (as 
                defined in subsection (e)(5)(B)) in the Highway Trust 
                Fund; and
                  ``(B) $2,000,000,000 to the Mass Transit Account in 
                the Highway Trust Fund.
          ``(6) Additional increase in fund balance.--There is hereby 
        transferred to the Highway Account (as defined in subsection 
        (e)(5)(B)) in the Highway Trust Fund amounts appropriated from 
        the Leaking Underground Storage Tank Trust Fund under section 
        9508(c)(3).''.
  (b) Appropriation From Leaking Underground Storage Tank Trust Fund.--
          (1) In general.--Subsection (c) of section 9508 of the 
        Internal Revenue Code of 1986 is amended by adding at the end 
        the following new paragraph:
          ``(3) Additional transfer to highway trust fund.--Out of 
        amounts in the Leaking Underground Storage Tank Trust Fund 
        there is hereby appropriated $1,000,000,000 to be transferred 
        under section 9503(f)(6) to the Highway Account (as defined in 
        section 9503(e)(5)(B)) in the Highway Trust Fund.''.
          (2) Conforming amendment.--Section 9508(c)(1) of the Internal 
        Revenue Code of 1986 is amended by striking ``paragraph (2)'' 
        and inserting ``paragraphs (2) and (3)''.

SEC. 2003. FUNDING STABILIZATION.

  (a) Funding Stabilization Under the Internal Revenue Code of 1986.--
The table in subclause (II) of section 430(h)(2)(C)(iv) of the Internal 
Revenue Code of 1986 is amended to read as follows:


----------------------------------------------------------------------------------------------------------------
                                            The applicable minimum
      ``If the calendar year is:                percentage is:           The applicable maximum percentage is:
----------------------------------------------------------------------------------------------------------------
2012, 2013, 2014, 2015, 2016, or 2017.  90%..........................  110%
2018..................................  85%..........................  115%
2019..................................  80%..........................  120%
2020..................................  75%..........................  125%
After 2020............................  70%..........................  130%''.
----------------------------------------------------------------------------------------------------------------


  (b) Funding Stabilization Under Employee Retirement Income Security 
Act of 1974.--
          (1) In general.--The table in subclause (II) of section 
        303(h)(2)(C)(iv) of the Employee Retirement Income Security Act 
        of 1974 (29 U.S.C. 1083(h)(2)(C)(iv)) is amended to read as 
        follows:


----------------------------------------------------------------------------------------------------------------
                                            The applicable minimum
      ``If the calendar year is:                percentage is:           The applicable maximum percentage is:
----------------------------------------------------------------------------------------------------------------
2012, 2013, 2014, 2015, 2016, or 2017.  90%..........................  110%
2018..................................  85%..........................  115%
2019..................................  80%..........................  120%
2020..................................  75%..........................  125%
After 2020............................  70%..........................  130%''.
----------------------------------------------------------------------------------------------------------------


          (2) Conforming amendments.--
                  (A) In general.--Section 101(f)(2)(D) of such Act (29 
                U.S.C. 1021(f)(2)(D)) is amended--
                          (i) in clause (i) by inserting ``and the 
                        Highway and Transportation Funding Act of 
                        2014'' after ``MAP-21'' both places it appears, 
                        and
                          (ii) in clause (ii) by striking ``2015'' and 
                        inserting ``2020''.
                  (B) Statements.--The Secretary of Labor shall modify 
                the statements required under subclauses (I) and (II) 
                of section 101(f)(2)(D)(i) of such Act to conform to 
                the amendments made by this section.
  (c) Stabilization Not To Apply for Purposes of Certain Accelerated 
Benefit Distribution Rules.--
          (1) Internal revenue code of 1986.--The second sentence of 
        paragraph (2) of section 436(d) of the Internal Revenue Code of 
        1986 is amended by striking ``of such plan'' and inserting ``of 
        such plan (determined by not taking into account any adjustment 
        of segment rates under section 430(h)(2)(C)(iv))''.
          (2) Employee retirement income security act of 1974.--The 
        second sentence of subparagraph (B) of section 206(g)(3) of the 
        Employee Retirement Income Security Act of 1974 (29 U.S.C. 
        1056(g)(3)(B)) is amended by striking ``of such plan'' and 
        inserting ``of such plan (determined by not taking into account 
        any adjustment of segment rates under section 
        303(h)(2)(C)(iv))''.
          (3) Effective date.--
                  (A) In general.--Except as provided in subparagraph 
                (B), the amendments made by this subsection shall apply 
                to plan years beginning after December 31, 2014.
                  (B) Collectively bargained plans.--In the case of a 
                plan maintained pursuant to 1 or more collective 
                bargaining agreements, the amendments made by this 
                subsection shall apply to plan years beginning after 
                December 31, 2015.
          (4) Provisions relating to plan amendments.--
                  (A) In general.--If this paragraph applies to any 
                amendment to any plan or annuity contract, such plan or 
                contract shall be treated as being operated in 
                accordance with the terms of the plan during the period 
                described in subparagraph (B)(ii).
                  (B) Amendments to which paragraph applies.--
                          (i) In general.--This paragraph shall apply 
                        to any amendment to any plan or annuity 
                        contract which is made--
                                  (I) pursuant to the amendments made 
                                by this subsection, or pursuant to any 
                                regulation issued by the Secretary of 
                                the Treasury or the Secretary of Labor 
                                under any provision as so amended, and
                                  (II) on or before the last day of the 
                                first plan year beginning on or after 
                                January 1, 2016, or such later date as 
                                the Secretary of the Treasury may 
                                prescribe.
                          (ii) Conditions.--This subsection shall not 
                        apply to any amendment unless, during the 
                        period--
                                  (I) beginning on the date that the 
                                amendments made by this subsection or 
                                the regulation described in clause 
                                (i)(I) takes effect (or in the case of 
                                a plan or contract amendment not 
                                required by such amendments or such 
                                regulation, the effective date 
                                specified by the plan), and
                                  (II) ending on the date described in 
                                clause (i)(II) (or, if earlier, the 
                                date the plan or contract amendment is 
                                adopted),
                        the plan or contract is operated as if such 
                        plan or contract amendment were in effect, and 
                        such plan or contract amendment applies 
                        retroactively for such period.
                  (C) Anti-cutback relief.--A plan shall not be treated 
                as failing to meet the requirements of section 204(g) 
                of the Employee Retirement Income Security Act of 1974 
                (29 U.S.C. 1054(g)) and section 411(d)(6) of the 
                Internal Revenue Code of 1986 solely by reason of a 
                plan amendment to which this paragraph applies.
  (d) Modification of Funding Target Determination Periods.--
          (1) Internal revenue code of 1986.--Clause (i) of section 
        430(h)(2)(B) of the Internal Revenue Code of 1986 is amended by 
        striking ``the first day of the plan year'' and inserting ``the 
        valuation date for the plan year''.
          (2) Employee retirement income security act of 1974.--Clause 
        (i) of section 303(h)(2)(B) of the Employee Retirement Income 
        Security Act of 1974 (29 U.S.C. 1083(h)(2)(B)(i)) is amended by 
        striking ``the first day of the plan year'' and inserting ``the 
        valuation date for the plan year''.
  (e) Effective Date.--
          (1) In general.--The amendments made by subsections (a), (b), 
        and (d) shall apply with respect to plan years beginning after 
        December 31, 2012.
          (2) Elections.--A plan sponsor may elect not to have the 
        amendments made by subsections (a), (b), and (d) apply to any 
        plan year beginning before January 1, 2014, either (as 
        specified in the election)--
                  (A) for all purposes for which such amendments apply, 
                or
                  (B) solely for purposes of determining the adjusted 
                funding target attainment percentage under sections 436 
                of the Internal Revenue Code of 1986 and 206(g) of the 
                Employee Retirement Income Security Act of 1974 (29 
                U.S.C. 1054(g)) for such plan year.
        A plan shall not be treated as failing to meet the requirements 
        of section 204(g) of such Act and section 411(d)(6) of such 
        Code solely by reason of an election under this paragraph.

SEC. 2004. EXTENSION OF CUSTOMS USER FEES.

  Section 13031(j)(3) of the Consolidated Omnibus Budget Reconciliation 
Act of 1985 (19 U.S.C. 58c(j)(3)) is amended--
          (1) in subparagraph (A), by striking ``September 30, 2023'' 
        and inserting ``September 30, 2024''; and
          (2) in subparagraph (B)(i), by striking ``September 30, 
        2023'' and inserting ``September 30, 2024''.

                       I. SUMMARY AND BACKGROUND


                         A. Purpose and Summary

    The bill, H.R. 5021, reported by the Committee on Ways and 
Means, extends through May 31, 2015, the expenditure authority 
for the Highway Trust Fund. To address the projected inability 
of the Highway Trust Fund to meet expenditures with current 
revenue sources, H.R. 5021 transfers $7.765 billion from the 
General Fund and $1 billion from the Leaking Underground 
Storage Tank Trust Fund, to the Highway Account of the Highway 
Trust Fund, and $2 billion from the General Fund to the Mass 
Transit Account of the Highway Trust Fund. The bill also 
contains a pension funding stabilization provision and an 
extension of Customs user fees.

                 B. Background and Need for Legislation

    The provisions approved by the Committee reflect the need 
to extend expiring Highway Trust Fund expenditure authority, 
and address the very near-term projected shortfall in the 
Highway Trust Fund to ensure continued funding for highway and 
mass transit projects.

                         C. Legislative History


Background

    H.R. 5021 was introduced on July 8, 2014, and was referred 
to the Committee on Ways and Means, and in addition to the 
Committees on Transportation and Infrastructure; Science, Space 
and Technology; Energy and Commerce; Education and the 
Workforce; and Natural Resources, 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.

Committee action

    The Committee on Ways and Means marked up H.R. 5021, the 
Highway and Transportation Funding Act of 2014, on July 10, 
2014, and ordered the bill, as amended, favorably reported 
(with a quorum being present).

Committee hearings

    The need to address funding issues associated with the 
Highway Trust Fund was discussed at the Full Committee hearing 
on the President's Fiscal Year 2015 Budget Proposal with the 
U.S. Department of the Treasury Secretary Jacob J. Lew (Mar. 6, 
2014).

                      II. EXPLANATION OF THE BILL


A. Extension of Highway Trust Fund Expenditure Authority (sec. 2001 of 
          the bill and secs. 9503, 9504 and 9508 of the Code)


                              PRESENT LAW

In general

    Six separate excise taxes are imposed to finance the 
Federal Highway Trust Fund program. Three of these taxes are 
imposed on highway motor fuels. The remaining three are a 
retail sales tax on heavy highway vehicles, a manufacturers' 
excise tax on heavy vehicle tires, and an annual use tax on 
heavy vehicles. A substantial majority of the revenues produced 
by the Highway Trust Fund excise taxes are derived from the 
taxes on motor fuels. The annual use tax on heavy vehicles 
expires October 1, 2017. Except for 4.3 cents per gallon of the 
Highway Trust Fund fuels tax rates, the remaining taxes are 
scheduled to expire October 1, 2016. The 4.3-cents-per-gallon 
portion of the fuels tax rates is permanent.\1\
---------------------------------------------------------------------------
    \1\This portion of the tax rates was enacted as a deficit reduction 
measure in 1993. Receipts from it were retained in the General Fund 
until 1997 legislation provided for their transfer to the Highway Trust 
Fund.
---------------------------------------------------------------------------
    Revenues from the excise taxes generally are dedicated to 
the Highway Trust Fund. Dedication of excise tax revenues to 
the Highway Trust Fund and expenditures from the Highway Trust 
Fund are governed by the Code.\2\ As discussed below, the Code 
authorizes expenditures (subject to appropriations) from the 
Highway Trust Fund through September 30, 2014.
---------------------------------------------------------------------------
    \2\Sec. 9503. Unless otherwise stated, all section references are 
to the Internal Revenue Code of 1986, as amended (the ``Code'').
---------------------------------------------------------------------------

Highway Trust Fund expenditure purposes

    Section 9503 contains the operative rules for the transfer 
of revenues to the Highway Trust Fund and for the expenditure 
of monies from the Highway Trust Fund. In general, these rules 
provide for transfer from the General Fund of ``gross 
receipts'' from the Highway Trust Fund excise taxes to the 
Highway Trust Fund. Amounts deposited in the Highway Trust Fund 
are divided between a Mass Transit Account and a residual 
account, the ``Highway Account.''\3\ The Mass Transit Account 
generally receives 2.86 cents per gallon of the Highway Trust 
Fund motor fuels excise taxes.\4\ The balance of the motor 
fuels tax receipts and all receipts from the three non-fuels 
excise taxes are deposited in the Highway Account.
---------------------------------------------------------------------------
    \3\Sec. 9503(e)(1).
    \4\Sec. 9503(e)(2).
---------------------------------------------------------------------------
    The Highway Trust Fund expenditure purposes have been 
revised with each authorization Act enacted since establishment 
of the Highway Trust Fund in 1956. In general, expenditures 
authorized under those Acts (as the Acts were in effect on the 
date of enactment of the most recent such authorizing Act, 
currently the Moving Ahead for Progress in the 21st Century Act 
or ``MAP-21''\5\) are specified by the Code as authorized 
Highway Trust Fund expenditure purposes.\6\ The Code provides 
that the authority to make expenditures from the Highway Trust 
Fund for these purposes expires after September 30, 2014. Thus, 
no Highway Trust Fund expenditures may occur after September 
30, 2014, without an amendment to the Code.
---------------------------------------------------------------------------
    \5\The short title for Pub. L. No. 112-141 is ``MAP-21'' and the 
law is also known as the ``Moving Ahead for Progress in the 21st 
Century Act.''
    \6\Sec. 9503(c)(1).
---------------------------------------------------------------------------

                           REASONS FOR CHANGE

    The current Highway Trust Fund expenditure authority 
expires after September 30, 2014. The Committee believes that 
an extension of that authority, through May 31, 2015, will give 
Congress sufficient time to carefully consider a more long-term 
reauthorization of the Highway Trust Fund and also minimize 
disruption and provide some stability for State transportation 
programs dependent on funding from the Highway Trust Fund.

                        EXPLANATION OF PROVISION

    The expenditure authority for the Highway Trust Fund is 
extended through May 31, 2015. The Code provisions governing 
the purposes for which monies in the Highway Trust Fund may be 
spent are updated to include the ``Highway and Transportation 
Funding Act of 2014.'' The provision also extends the 
expenditure authority of, and updates the Code provisions 
governing, the Leaking Underground Storage Tank Trust Fund and 
the Sport Fish Restoration and Boating Trust Fund.

                             EFFECTIVE DATE

    The provision is effective on the date of enactment.

 B. Funding of the Highway Trust Fund (sec. 2002 of the bill and secs. 
                    9503(f) and 9508(c) of the Code)


                              PRESENT LAW

    Public Law No. 110-318, ``an Act to amend the Internal 
Revenue Code of 1986 to restore the Highway Trust Fund 
balance'' transferred, out of money in the Treasury not 
otherwise appropriated, $8,017,000,000 to the Highway Trust 
Fund effective September 15, 2008. Public Law No. 111-46, ``an 
Act to restore sums to the Highway Trust Fund,'' transferred, 
out of money in the Treasury not otherwise appropriated, $7 
billion to the Highway Trust Fund effective August 7, 2009. The 
Hiring Incentives to Restore Employment Act transferred, out of 
money in the Treasury not otherwise appropriated, 
$14,700,000,000 to the Highway Trust Fund and $4,800,000,000 to 
the Mass Transit Account in the Highway Trust Fund.\7\
---------------------------------------------------------------------------
    \7\The Hiring Incentives to Restore Employment Act (the ``HIRE'' 
Act), Pub. L. No. 111-147, sec. 442.
---------------------------------------------------------------------------
    MAP-21 provided that, out of money in the Treasury not 
otherwise appropriated, the following transfers were to be made 
from the General Fund to the Highway Trust Fund:

----------------------------------------------------------------------------------------------------------------
                                                                       FY 2013                   FY 2014
----------------------------------------------------------------------------------------------------------------
Highway Account.............................................             $6.2 billion             $10.4 billion
Mass Transit Account........................................                    - - -              $2.2 billion
----------------------------------------------------------------------------------------------------------------

    MAP-21 also transferred $2.4 billion from the Leaking 
Underground Storage Tank Trust Fund to the Highway Account in 
the Highway Trust Fund.\8\
---------------------------------------------------------------------------
    \8\Moving Ahead for Progress in the 21st Century Act (``MAP-21''), 
Pub. L. No. 112-141, sec. 40201(a)(2) and sec. 40251.
---------------------------------------------------------------------------

                           REASONS FOR CHANGE

    Both the Highway Account and the Mass Transit Account of 
the Highway Trust Fund are nearing insolvency. If Congress does 
not act, it is anticipated that the Mass Transit Account will 
have only $1 billion available by the end of this fiscal year, 
and the Highway Account is expected to experience a shortfall 
by August 2014.\9\ As a result, the Department of 
Transportation has notified State transportation authorities 
that beginning August 1, 2014, for programs funded out of the 
Highway Account, the Department of Transportation will 
undertake cash management procedures that will limit payments 
and eliminate ``same-day'' reimbursements to States.\10\ 
Instead, payments will be made twice a month and incoming funds 
will be distributed in proportion to each State's Federal 
formula apportionment in this fiscal year.
---------------------------------------------------------------------------
    \9\U.S. Department of Transportation, Highway Trust Fund Ticker 
(July 9, 2014). http://www.dot.gov/highway-trust-fund-ticker
    \10\See e.g., Anthony R. Foxx, Letter of Anthony R. Foxx, Secretary 
of Transportation, to John R. Cooper, Transportation Director, Alabama 
Department of Transportation (July 1, 2014).
---------------------------------------------------------------------------
    The Committee believes that additional funding for the 
Highway Trust Fund should be provided in an amount that is 
sufficient to avoid short-term disruption of Federally-funded 
transportation programs, while giving Congress enough time to 
stabilize that Trust Fund's finances over the longer term. The 
Committee further believes that this additional, short-term 
funding should be provided to the Highway Trust Fund in a 
manner that is budget-neutral and does not involve permanent 
tax increases.

                        EXPLANATION OF PROVISION

    The provision transfers from the General Fund $7.765 
billion to the Highway Account of the Highway Trust Fund and $2 
billion to the Mass Transit Account of the Highway Trust Fund. 
The provision also transfers $1 billion from the Leaking 
Underground Storage Tank Trust Fund to the Highway Account of 
the Highway Trust Fund.

                             EFFECTIVE DATE

    The provision is effective on the date of enactment.

 C. Pension Funding Stabilization (sec. 2003 of the bill and secs. 430 
                          and 436 of the Code)


                              PRESENT LAW

Minimum funding rules

    A defined benefit plan maintained by a single employer is 
subject to minimum funding rules that generally require the 
sponsoring employer to make a certain level of contribution for 
each plan year to fund plan benefits.\11\ The minimum funding 
rules for single-employer defined benefit plans were 
substantially revised by the Pension Protection Act of 2006 
(``PPA'').\12\
---------------------------------------------------------------------------
    \11\Sec. 412 of the Code and section 302 of the Employee Retirement 
Income Security Act of 1974 (``ERISA''). For purposes of whether a plan 
is maintained by a single employer, certain related entities, such as 
the members of a controlled group, are treated as a single employer. 
Different funding rules apply to multiemployer and multipleemployer 
defined benefit plans, which are types of plans maintained by two or 
more unrelated employers. A number of exceptions to the minimum funding 
rules apply. For example, governmental plans (within the meaning of 
section 414(d)) and church plans (within the meaning of section 414(e)) 
are generally not subject to the minimum funding rules. Under section 
4971, an excise tax applies if the minimum funding requirements are not 
satisfied.
    \12\Pub. L. No. 109-280. The PPA minimum funding rules for single-
employer plans are generally effective for plan years beginning after 
December 31, 2007. Subsequent changes were made by the Worker, Retiree, 
and Employer Recovery Act of 2008 (``WRERA''), Pub. L. No. 110-458; the 
Preservation of Access to Care for Medicare Beneficiaries and Pension 
Relief Act of 2010 (``PRA 2010''), Pub. L. No. 111-192; and the Moving 
Ahead for Progress in the 21st Century Act (``MAP-21''), Pub. L. No. 
112-141, discussed further herein.
---------------------------------------------------------------------------

Minimum required contributions

            In general
    The minimum required contribution for a plan year for a 
single-employer defined benefit plan generally depends on a 
comparison of the value of the plan's assets, reduced by any 
prefunding balance or funding standard carryover balance (``net 
value of plan assets''),\13\ with the plan's funding target and 
target normal cost. The plan's funding target for a plan year 
is the present value of all benefits accrued or earned as of 
the beginning of the plan year. A plan's target normal cost for 
a plan year is generally the present value of benefits expected 
to accrue or to be earned during the plan year.
---------------------------------------------------------------------------
    \13\The value of plan assets is generally reduced by any prefunding 
balance or funding standard carryover balance in determining minimum 
required contributions. A prefunding balance results from plan 
contributions that exceed the minimum required contributions. A funding 
standard carryover balance results from a positive balance in the 
funding standard account that applied under the funding requirements in 
effect before PPA. Subject to certain conditions, a prefunding balance 
or funding standard carryover balance may be credited against the 
minimum required contribution for a year, reducing the amount that must 
be contributed.
---------------------------------------------------------------------------
    If the net value of plan assets is less than the plan's 
funding target, so that the plan has a funding shortfall 
(discussed further below), the minimum required contribution is 
the sum of the plan's target normal cost and the shortfall 
amortization charge for the plan year (determined as described 
below).\14\ If the net value of plan assets is equal to or 
exceeds the plan's funding target, the minimum required 
contribution is the plan's target normal cost, reduced by the 
amount, if any, by which the net value of plan assets exceeds 
the plan's funding target.
---------------------------------------------------------------------------
    \14\If the plan has obtained a waiver of the minimum required 
contribution (a funding waiver) within the past five years, the minimum 
required contribution also includes the related waiver amortization 
charge, that is, the annual installment needed to amortize the waived 
amount in level installments over the five years following the year of 
the waiver.
---------------------------------------------------------------------------
            Shortfall amortization charge
    The shortfall amortization charge for a plan year is the 
sum of the annual shortfall amortization installments 
attributable to the shortfall bases for that plan year and the 
six previous plan years. Generally, if a plan has a funding 
shortfall for the plan year, a shortfall amortization base must 
be established for the plan year.\15\ A plan's funding 
shortfall is the amount by which the plan's funding target 
exceeds the net value of plan assets. The shortfall 
amortization base for a plan year is: (1) the plan's funding 
shortfall, minus (2) the present value, determined using the 
segment interest rates (discussed below), of the aggregate 
total of the shortfall amortization installments that have been 
determined for the plan year and any succeeding plan year with 
respect to any shortfall amortization bases for the six 
previous plan years. The shortfall amortization base is 
amortized in level annual installments (``shortfall 
amortization installments'') over a seven-year period beginning 
with the current plan year and using the segment interest rates 
(discussed below).\16\
---------------------------------------------------------------------------
    \15\If the value of plan assets, reduced only by any prefunding 
balance if the employer elects to apply the prefunding balance against 
the required contribution for the plan year, is at least equal to the 
plan's funding target, no shortfall amortization base is established 
for the year.
    \16\Under PRA 2010, employers were permitted to elect to use one of 
two alternative extended amortization schedules for up to two 
``eligible'' plan years during the period 2008-2011. The use of an 
extended amortization schedule has the effect of reducing the amount of 
the shortfall amortization installments attributable to the shortfall 
amortization base for the eligible plan year. However, the shortfall 
amortization installments attributable to an eligible plan year may be 
increased by an additional amount, an ``installment acceleration 
amount,'' in the case of employee compensation exceeding $1 million, 
extraordinary dividends, or stock redemptions within a certain period 
of the eligible plan year.
---------------------------------------------------------------------------
    The shortfall amortization base for a plan year may be 
positive or negative, depending on whether the present value of 
remaining installments with respect to amortization bases for 
previous years is more or less than the plan's funding 
shortfall. If the shortfall amortization base is positive (that 
is, the funding shortfall exceeds the present value of the 
remaining installments), the related shortfall amortization 
installments are positive. If the shortfall amortization base 
is negative, the related shortfall amortization installments 
are negative. The positive and negative shortfall amortization 
installments for a particular plan year are netted when adding 
them up in determining the shortfall amortization charge for 
the plan year, but the resulting shortfall amortization charge 
cannot be less than zero (i.e., negative amortization 
installments may not offset normal cost).
    If the net value of plan assets for a plan year is at least 
equal to the plan's funding target for the year, so the plan 
has no funding shortfall, any shortfall amortization bases and 
related shortfall amortization installments are eliminated.\17\ 
As indicated above, if the net value of plan assets exceeds the 
plan's funding target, the excess is applied against target 
normal cost in determining the minimum required contribution.
---------------------------------------------------------------------------
    \17\Any amortization base relating to a funding waiver for a 
previous year is also eliminated.
---------------------------------------------------------------------------

Interest rate used to determine target normal cost and funding target

    The minimum funding rules for single-employer plans specify 
the interest rates and certain other actuarial assumptions that 
must be used in determining the present value of benefits for 
purposes of a plan's target normal cost and funding target.
    Present value is generally determined using three interest 
rates (``segment'' rates), each of which applies to benefit 
payments expected to be made from the plan during a certain 
period.\18\ The first segment rate applies to benefits 
reasonably determined to be payable during the five-year period 
beginning on the first day of the plan year;\19\ the second 
segment rate applies to benefits reasonably determined to be 
payable during the 15-year period following the initial five-
year period; and the third segment rate applies to benefits 
reasonably determined to be payable at the end of the 15-year 
period. Under the funding rules as enacted in PPA (``PPA'' 
rules), each segment rate is a single interest rate determined 
monthly by the Secretary of the Treasury (``Secretary''), on 
the basis of a corporate bond yield curve, taking into account 
only the portion of the yield curve based on corporate bonds 
maturing during the particular segment rate period. The 
corporate bond yield curve used for this purpose reflects the 
average, for the 24-month period ending with the preceding 
month, of yields on investment grade corporate bonds with 
varying maturities and that are in the top three quality levels 
available. The Internal Revenue Service (``IRS'') publishes the 
segment rates each month.
---------------------------------------------------------------------------
    \18\Solely for purposes of determining minimum required 
contributions, in lieu of the segment rates, an employer may elect to 
use interest rates on a yield curve based on the yields on investment 
grade corporate bonds for the month preceding the month in which the 
plan year begins (i.e., without regard to the 24-month averaging 
described above) (``monthly yield curve''). If an election to use a 
monthly yield curve is made, it cannot be revoked without IRS approval.
    \19\Subject to an exception for small plans with no more than 100 
participants, the annual valuation date for a plan must be the first 
day of the plan year. Thus, except for small plans with valuation dates 
other than the first day of the plan year, the period for which the 
first segment rate applies begins on the valuation date.
---------------------------------------------------------------------------
    Under MAP-21, for plan years beginning after December 31, 
2011, a segment rate determined under the PPA rules is adjusted 
if it falls outside a specified percentage range of the average 
segment rates for a preceding period. In particular, if a 
segment rate determined under the PPA rules is less than the 
applicable minimum percentage in the specified range, the 
segment rate is adjusted upward to match the minimum 
percentage. If a segment rate determined under the PPA rules is 
more than the applicable maximum percentage in the specified 
range, the segment rate is adjusted downward to match the 
maximum percentage. For this purpose, an average segment rate 
is the average of the segment rates determined under the PPA 
rules for the 25-year period ending September 30 of the 
calendar year preceding the calendar year in which the plan 
year begins. The Secretary is to determine average segment 
rates on an annual basis and may prescribe equivalent rates for 
any years in the 25-year period for which segment rates 
determined under the PPA rules are not available. The Secretary 
is directed to publish the average segment rates each month.
    The specified percentage range (that is, the range from the 
applicable minimum percentage to the applicable maximum 
percentage) for a plan year is determined by reference to the 
calendar year in which the plan year begins as follows:
           90 percent to 110 percent for 2012,
           85 percent to 115 percent for 2013,
           80 percent to 120 percent for 2014,
           75 percent to 125 percent for 2015, and
           70 percent to 130 percent for 2016 or later.

Funding-related benefit restrictions

    Special rules may apply to a plan if its funding target 
attainment percentage is below a certain level.\20\ A plan's 
funding target attainment percentage for a plan year is the 
ratio, expressed as a percentage, that the net value of plan 
assets bears to the plan's funding target for the year. Because 
a plan's funding target is a component of the plan's funding 
target attainment percentage, the interest rate used in 
determining the plan's funding target generally applies also in 
determining the plan's funding target attainment 
percentage.\21\
---------------------------------------------------------------------------
    \20\For example, funding target attainment percentage is used to 
determine whether a plan is in ``at-risk'' status, so that special 
actuarial assumptions (``at-risk assumptions'') must be used in 
determining the plan's funding target and target normal cost. A plan is 
in at risk status for a plan year if, for the preceding year: (1) the 
plan's funding target attainment percentage, determined without regard 
to the at-risk assumptions, was less than 80 percent, and (2) the 
plan's funding target attainment percentage, determined using the at-
risk assumptions (without regard to whether the plan was in at-risk 
status for the preceding year), was less than 70 percent. A similar 
test applies in order for an employer to be permitted to apply a 
prefunding balance against its required contribution, that is, for the 
preceding year, the ratio of the value of plan assets (reduced by any 
prefunding balance) must be at least 80 percent of the plan's funding 
target (determined without regard to the at-risk rules).
    \21\The adjustments to the segment rates under MAP-21 do not apply 
for certain other purposes for which the segment rates are used, for 
example, in calculating the limits on deductible contributions to 
single-employer defined benefit plans under section 404.
---------------------------------------------------------------------------
    Restrictions on benefit increases, certain types of benefit 
payments (``prohibited payments'') and benefit accruals 
(collectively referred to as ``benefit restrictions'') may 
apply to a plan if the plan's adjusted funding target 
attainment percentage is below a certain level.\22\ The plan's 
adjusted funding target attainment percentage is determined in 
the same way as its funding target attainment percentage, 
except that the net value of plan assets and the plan's funding 
target are both increased by the aggregate amount of purchases 
of annuities for employees, other than highly compensated 
employees, made by the plan during the two preceding plan 
years. Although anti-cutback rules generally prohibit 
reductions in benefits that have already been earned under a 
plan,\23\ reductions required to comply with the benefit 
restrictions are permitted.
---------------------------------------------------------------------------
    \22\Code secs. 401(a)(29) and 436 and ERISA sec. 206(g).
    \23\Code sec. 411(d)(6) and ERISA sec. 204(g).
---------------------------------------------------------------------------
    Under these rules, a prohibited payment generally means (1) 
any payment in excess of the monthly benefit amount paid under 
a single life annuity (plus any social security supplement), or 
(2) any payment for the purchase of an irrevocable commitment 
from an insurer to pay benefits. Prohibited payments generally 
may not be made if the plan's adjusted funding target 
attainment percentage is less than 60 percent. If a plan's 
adjusted funding target attainment percentage is at least 60 
percent, but less than 80 percent, prohibited payments may be 
made, but subject to limits. In addition, prohibited payments 
may not be made during any period in which the plan sponsor is 
a debtor in a bankruptcy proceeding under Federal or State law 
unless the plan's adjusted funding target attainment percentage 
is at least 100 percent.

Annual funding notice

    The plan administrator of a single-employer defined benefit 
plan must provide an annual funding notice to each participant 
and beneficiary, each labor organization representing such 
participants or beneficiaries, and the Pension Benefit Guaranty 
Corporation (``PBGC'').\24\ In addition to the information 
required to be provided in all funding notices, in the case of 
a single-employer defined benefit plan, the notice must include 
(1) the plan's funding target attainment percentage for the 
plan year to which the notice relates and the two preceding 
plan years, (2) the value of the plan's assets and benefit 
liabilities (that is, the present value of benefits owed under 
the plan) for the plan year and the two preceding years, 
determined in the same manner as under the funding rules, and 
(3) the value of the plan's assets and benefit liabilities as 
of the last day of the plan year to which the notice relates, 
determined using the fair market value of plan assets (rather 
value determined under the funding rules) and, in computing 
benefit liabilities, the interest rates used in computing 
variable-rate PBGC premiums.\25\
---------------------------------------------------------------------------
    \24\ERISA sec. 101(f), originally enacted by section 103 of the 
Pension Funding Equity Act of 2004, Pub. L. No. 108-218. Annual funding 
notice requirements, with some differences, apply also to multiemployer 
and multiple-employer plans.
    \25\In applying the funding rules, the value of plan assets may be 
determined on the basis of average fair market values over a period of 
up to 24 months. PBGC variable-rate premiums are based on a plan's 
unfunded vested benefit liabilities, computed using the first, second 
and third segment rates as determined under the PPA rules (without 
adjustments under MAP-21), but based on a monthly corporate bond yield 
curve, rather than a yield curve reflecting average yields for a 24-
month period.
---------------------------------------------------------------------------
    Under MAP-21, additional information must be included in 
the annual funding notice in the case of an applicable plan 
year. For this purpose, an applicable plan year is any plan 
year beginning after December 31, 2011, and before January 1, 
2015, for which (1) the plan's funding target, determined using 
segment rates as adjusted to reflect average segment rates 
(``adjusted'' segment rates), is less than 95 percent of the 
funding target determined without regard to adjusted segment 
rates, (2) the plan has a funding shortfall, determined without 
regard to adjusted segment rates, greater than $500,000, and 
(3) the plan had 50 or more participants on any day during the 
preceding plan year. Specifically, the notice must include (1) 
a statement that MAP-21 modified the method for determining the 
interest rates used to determine the actuarial value of 
benefits earned under the plan, providing for a 25-year average 
of interest rates to be taken into account in addition to a 
two-year average, (2) a statement that, as a result of MAP-21, 
the plan sponsor may contribute less money to the plan when 
interest rates are at historical lows, and (3) a table showing, 
for the applicable plan year and each of the two preceding plan 
years,\26\ the plan's funding target attainment percentage, 
funding shortfall, and the employer's minimum required 
contribution, each determined both using adjusted segment rates 
and without regard to adjusted segment rates.
---------------------------------------------------------------------------
    \26\In the case of a preceding plan year beginning before January 
1, 2012, only the plan's funding target attainment percentage, funding 
shortfall, and the employer's minimum required contribution determined 
without regard to adjusted segment rates are required to be provided.
---------------------------------------------------------------------------

                           REASONS FOR CHANGE

    The interest rates used in valuing pension liabilities are 
intended to reflect market interest rates. However, interest 
rates in recent years have been low compared to average 
interest rates over the past 25 years. Recent low interest 
rates result in higher values for pension liabilities and 
higher required contributions in the near term. MAP-21 modified 
the interest rates used in valuing pension liabilities to give 
employers the option to effectively spread out the higher 
contributions over a longer period of time than would otherwise 
have been required. The Committee believes that continued low 
interest rates make it appropriate to extend the policy enacted 
in MAP-21.

                        EXPLANATION OF PROVISION

Applicable minimum and maximum percentages

    The provision revises the specified percentage ranges (that 
is, the range from the applicable minimum percentage to the 
applicable maximum percentage of average segment rates) for 
determining whether a segment rate must be adjusted upward or 
downward.\27\ Under the provision, the specified percentage 
range for a plan year is determined by reference to the 
calendar year in which the plan year begins as follows:
---------------------------------------------------------------------------
    \27\In addition, under the bill, for purposes of the additional 
information that must be provided in a funding notice for an applicable 
plan year, an applicable plan year includes any plan year that begins 
after December 31, 2011, and before January 1, 2020, and that otherwise 
meets the definition of applicable plan year.
---------------------------------------------------------------------------
           90 percent to 110 percent for 2012 through 
        2017,
           85 percent to 115 percent for 2018,
           80 percent to 120 percent for 2019,
           75 percent to 125 percent for 2020, and
           70 percent to 130 percent for 2021 or later.

Prohibited payments in bankruptcy

    Under the provision, the adjusted segment rates do not 
apply for purposes of whether prohibited payments may be made 
from a plan during a period in which the plan sponsor is a 
debtor in a bankruptcy proceeding under Federal or State law, 
that is, for purposes of determining whether the plan's 
adjusted funding target attainment percentage is at least 100 
percent. Thus, the plan's adjusted funding target attainment 
percentage, determined without regard to the adjusted segment 
rates, must be at least 100 percent in order for prohibited 
payments to be made.

Periods for determining segment rates

    The provision revises the period of benefit payments to 
which the segment rates (or adjusted segment rates) apply. 
Under the provision, the first rate applies to benefits 
reasonably determined to be payable during the five-year period 
beginning on the plan's valuation date (rather than the first 
day of the plan year as under present law); the second segment 
rate applies to benefits reasonably determined to be payable 
during the 15-year period following the initial five-year 
period; and the third segment rate applies to benefits 
reasonably determined to be payable at the end of the 15-year 
period.\28\
---------------------------------------------------------------------------
    \28\The provision does not change the requirement that the 
valuation date for plans other than certain small plans must be the 
first day of the plan year. Thus, the provision does not change these 
periods for plans for which the valuation date must be the first day of 
the plan year.
---------------------------------------------------------------------------

                             EFFECTIVE DATE

    The provisions relating to the applicable minimum and 
maximum percentages and periods for determining segment rates 
are generally effective for plan years beginning after December 
31, 2012. Under a special rule, an employer may elect, for any 
plan year beginning before January 1, 2014, not to have these 
provisions apply either (1) for all purposes for which the 
provisions would otherwise apply, or (2) solely for purposes of 
determining the plan's adjusted funding target attainment 
percentage in applying the benefit restrictions for that year. 
A plan will not be treated as failing to meet the requirements 
of the anti-cutback rules solely by reason of an election under 
the special rule.
    The provision relating to prohibited payments in bankruptcy 
generally applies to plan years beginning after December 31, 
2014, or, in the case of a plan maintained pursuant to one or 
more collective bargaining agreements, to plan years beginning 
after December 31, 2015. If certain requirements are met, a 
plan amendment made pursuant to the provision may be 
retroactively effective, the plan will be treated as being 
operated in accordance with its terms during the period before 
the amendment, and the plan will not be treated as failing to 
meet the requirements of the anti-cutback rules solely by 
reason of the amendment. In order for this treatment to apply, 
the amendment must be made pursuant to the provision (or 
pursuant to any regulation issued by the Secretary or the 
Secretary of Labor under the provision), and the amendment must 
be made by the last day of the first plan year beginning on or 
after January 1, 2016, or such later date as the Secretary 
prescribes. In addition, the plan must be operated as if the 
plan amendment were in effect during the period (1) beginning 
on the date the provision (or regulation) takes effect (or, in 
the case of a plan amendment not required by the provision or 
regulation, the effective date specified in the plan), and (2) 
ending on the last day of the first plan year beginning on or 
after January 1, 2016, or such later date as the Secretary 
prescribes (or, if earlier, the date the amendment is adopted). 
The amendment must also apply retroactively for that period.

D. Customs User Fees (sec. 2004 of the bill and sec. 58c(j)(3) of Title 
                     19 of the United States Code)


                              PRESENT LAW

    Section 13031 of the Consolidated Omnibus Budget 
Reconciliation Act of 1985 (``COBRA'') authorizes the Secretary 
of the Treasury to collect passenger and conveyance processing 
fees and the merchandise processing fees. Section 412 of the 
Homeland Security Act of 2002 authorizes the Secretary of the 
Treasury to delegate such authority to the Secretary of 
Homeland Security. COBRA has been extended on several 
occasions. The current authorization for the collection of the 
passenger and conveyance processing fees is through September 
30, 2023. The current authorization for the collection of the 
merchandise processing fee is through September 30, 2023.

                           REASONS FOR CHANGE

    The Committee believes it is appropriate to extend the 
specified Customs user fees.

                        EXPLANATION OF PROVISION

    The provision extends the passenger and conveyance 
processing fees and the merchandise processing fee authorized 
under Section 13031 of the Consolidated Omnibus Budget 
Reconciliation Act of 1985 (``COBRA'') through September 30, 
2024.

                             EFFECTIVE DATE

    The provision is effective on the date of enactment.

                      III. VOTES OF THE COMMITTEE

    In compliance with clause 3(b) of rule XIII of the Rules of 
the House of Representatives, the following statements are made 
concerning the votes of the Committee on Ways and Means in its 
consideration of H.R. 5021, the ``Highway and Transportation 
Funding Act of 2014.''

                           VOTE ON AMENDMENT

    The vote on the amendment by Mr. Blumenauer to the 
amendment in the nature of a substitute--which would shorten 
the proposed extension of the expenditure authority of the 
Highway Trust Fund and related programs, reduce the amount of 
additional funding for the Highway Trust Fund, strike the 
provision related to pension funding stabilization, add certain 
revenue-raising provisions, and add a Sense of the House of 
Representatives provision--was not agreed to by a roll call 
vote of 16 yeas to 23 nays (with a quorum being present). The 
vote was as follows:

----------------------------------------------------------------------------------------------------------------
         Representative             Yea       Nay     Present     Representative      Yea       Nay     Present
----------------------------------------------------------------------------------------------------------------
Mr. Camp.......................  ........        X   .........  Mr. Levin........        X   ........  .........
Mr. Johnson....................  ........        X   .........  Mr. Rangel.......        X   ........  .........
Mr. Brady......................  ........        X   .........  Mr. McDermott....        X   ........  .........
Mr. Ryan.......................  ........        X   .........  Mr. Lewis........        X   ........  .........
Mr. Nunes......................  ........        X   .........  Mr. Neal.........        X   ........  .........
Mr. Tiberi.....................  ........        X   .........  Mr. Becerra......        X   ........  .........
Mr. Reichert...................  ........        X   .........  Mr. Doggett......        X   ........  .........
Mr. Boustany...................  ........        X   .........  Mr. Thompson.....        X   ........  .........
Mr. Roskam.....................  ........        X   .........  Mr. Larson.......        X   ........  .........
Mr. Gerlach....................  ........        X   .........  Mr. Blumenauer...        X   ........  .........
Mr. Price......................  ........        X   .........  Mr. Kind.........        X   ........  .........
Mr. Buchanan...................  ........        X   .........  Mr. Pascrell.....        X   ........  .........
Mr. Smith......................  ........        X   .........  Mr. Crowley......        X   ........  .........
Mr. Schock.....................  ........        X   .........  Ms. Schwartz.....        X   ........  .........
Ms. Jenkins....................  ........        X   .........  Mr. Davis........        X   ........  .........
Mr. Paulsen....................  ........        X   .........  Ms. Sanchez......        X   ........  .........
Mr. Marchant...................  ........        X
Ms. Black......................  ........        X
Mr. Reed.......................  ........        X
Mr. Young......................  ........        X
Mr. Kelly......................  ........        X
Mr. Griffin....................  ........        X
Mr. Renacci....................  ........        X
----------------------------------------------------------------------------------------------------------------

                    MOTION TO REPORT RECOMMENDATIONS

    The bill, H.R. 5021, was ordered favorably reported as 
amended by voice vote (with a quorum being present).

                     IV. BUDGET EFFECTS OF THE BILL


               A. Committee Estimate of Budgetary Effects

    In compliance with clause 3(d) of rule XIII of the Rules of 
the House of Representatives, the following statement is made 
concerning the effects on the budget of the revenue provisions 
of the bill, H.R. 5021, as reported.
    The bill is estimated to have the following effects on 
Federal budget receipts for fiscal years 2014-2024:


    The bill is estimated to have the following General Fund 
and Trust Fund effects for fiscal years 2014-2024:


B. Statement Regarding New Budget Authority and Tax Expenditures Budget 
                               Authority

    In compliance with clause 3(c)(2) of rule XIII of the Rules 
of the House of Representatives, the Committee states that, 
with respect to the provisions of the bill that warranted a 
referral to the Committee on Ways and Means, the Congressional 
Budget Office (CBO) has found that pursuant to section 608 of 
H. Con. Res. 25, the Concurrent Resolution on the Budget, 
Fiscal Year 2014--as extended by section 113 of the Bipartisan 
Budget Act of 2013 (Public Law 113-67, Division A)--the 
transfer from the general fund of the Treasury to the Highway 
Trust Fund is considered to be new budget authority for budget 
enforcement purposes in the House of Representatives. The 
Committee states further that the bill involves no new or 
increased tax expenditures.

      C. Cost Estimate Prepared by the Congressional Budget Office

    In compliance with clause 3(c)(3) of rule XIII of the Rules 
of the House of Representatives, requiring a cost estimate 
prepared by the CBO, the following statement by CBO is 
provided.

                                     U.S. Congress,
                               Congressional Budget Office,
                                     Washington, DC, July 11, 2014.
Hon. Dave Camp,
Chairman, Committee on Ways and Means,
House of Representatives, Washington, DC.
    Dear Mr. Chairman: The Congressional Budget Office has 
prepared the enclosed cost estimate for H.R. 5021, the Highway 
and Transportation Funding Act of 2014.
    If you wish further details on this estimate, we will be 
pleased to provide them. The CBO staff contact is Sarah Puro.
            Sincerely,
                                              Douglas W. Elmendorf.
    Enclosure.

H.R. 5021--Highway and Transportation Funding Act of 2014

    Summary: CBO estimates that enacting H.R. 5021 would reduce 
direct spending and increase revenues. In total, those changes 
would reduce budget deficits over the 2014-2024 period by an 
estimated $9.9 billion. The legislation also would transfer 
about $9.8 billion from the general fund of the Treasury to the 
Highway Trust Fund to facilitate continued spending from that 
trust fund. CBO's estimate of the effect of H.R. 5021 on budget 
deficits does not include the effects of such a transfer; 
however, the budget resolution passed by the House of 
Representatives considers transfers from the general fund of 
the Treasury to the Highway Trust Fund to be new spending.\1\
---------------------------------------------------------------------------
    \1\Transfers totaling $9.8 billion from the general fund of the 
Treasury to the Highway Trust Fund would be authorized in section 2002 
of the legislation. Section 113 of the Bipartisan Budget Act of 2013 
(Public Law 113-67, Division A) extended the terms of section 608 of H. 
Con. Res. 25, the Concurrent Resolution on the Budget--Fiscal Year 
2014. Pursuant to section 608, general fund transfers to the Highway 
Trust Fund are considered to be new budget authority and outlays for 
budget enforcement purposes in the House of Representatives.
---------------------------------------------------------------------------
    Major provisions of the legislation would:
           Extend the spending authority for certain 
        surface transportation programs,
           Extend the authority to collect fees charged 
        by U.S. Customs and Border Protection, and
           Allow single-employer defined benefit 
        pension plans to use higher interest rates when 
        calculating their future liabilities for the 2013-2020 
        plan years. Using higher interest rates would reduce 
        the minimum contributions that employers are required 
        to make to such plans, leading to increases in 
        offsetting receipts, direct spending, and revenues. CBO 
        expects that the bill would increase the amount of 
        underfunding in such plans.
    Pay-as-you-go procedures apply because enacting the 
legislation would affect direct spending and revenues.
    CBO has reviewed the nontax provisions of H.R. 5021 and 
determined that they contain no intergovernmental mandates as 
defined in the Unfunded Mandates Reform Act (UMRA) and would 
impose no costs on state, local, or tribal governments. The 
staff of the Joint Committee on Taxation (JCT) has reviewed the 
tax provisions of H.R. 5021 and determined that they also 
contain no intergovernmental mandates.
    CBO has determined that the nontax provisions of the bill 
would impose a private-sector mandate, as defined in UMRA, by 
extending customs fees. CBO estimates that the cost of the 
mandate would well exceed the annual threshold established in 
UMRA for private-sector mandates ($152 million in 2014, 
adjusted annually for inflation). JCT has reviewed the tax 
provisions of H.R. 5021 and determined that they contain no 
private-sector mandates.
    Estimated cost to the Federal Government: The estimated 
budgetary effects of H.R. 5021 are shown in the table on the 
following page. The costs of this legislation fall within 
budget functions 600 (income security) and 750 (administration 
of justice).
    Basis of estimate: H.R. 5021 would reduce direct spending 
and increase revenues by a combined total of roughly $9.9 
billion between 2015 and 2024. The legislation would also 
increase spending subject to appropriation by an estimated $2 
billion, on an annualized basis, if the necessary funds were 
appropriated.

Direct spending

    H.R. 5021 would reduce direct spending by about $4.8 
billion over the 2015-2024 period, CBO estimates.
    Extension of Customs Fees. Under current law, certain fees 
collected by U.S. Customs and Border Protection will expire 
after September 30, 2023. The bill would extend COBRA fees 
(which were established in the Consolidated Omnibus Budget 
Reconciliation Act of 1985) and merchandise processing fees 
through September 30, 2024. CBO estimates that those changes 
would increase offsetting receipts (a credit against direct 
spending) by about $3.5 billion in 2024.

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                      By fiscal year, in millions of dollars--
                                                  ----------------------------------------------------------------------------------------------------------------------------------------------
                                                      2014       2015       2016       2017       2018       2019       2020       2021       2022       2023       2024    2014-2019  2014-2024
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                   CHANGES IN DIRECT SPENDINGa

Customs Fees:
    Estimated Budget Authority...................          0          0          0          0          0          0          0          0          0          0     -3,542          0     -3,542
    Estimated Outlays............................          0          0          0          0          0          0          0          0          0          0     -3,542          0     -3,542
Pension Provisions:
    Estimated Budget Authority...................          0        -15        -70       -150       -210       -235       -215       -195       -130        -40         25       -680     -1,235
    Estimated Outlays............................          0        -15        -70       -150       -210       -235       -215       -195       -130        -40         25       -680     -1,235
Total Changes:
    Estimated Budget Authority...................          0        -15        -70       -150       -210       -235       -215       -195       -130        -40     -3,517       -680     -4,777
    Estimated Outlays............................          0        -15        -70       -150       -210       -235       -215       -195       -130        -40     -3,517       -680     -4,777

                                                                                       CHANGES IN REVENUES

Estimated Revenues...............................        749      2,717      4,136      4,551      3,872      2,015         23     -1,758     -3,321     -4,052     -3,779     18,040      5,152

                                                    NET INCREASE OR DECREASE (-) IN THE DEFICIT FROM CHANGES IN DIRECT SPENDING AND REVENUES

Impact on the Deficit............................       -749     -2,732     -4,206     -4,701     -4,082     -2,250       -238      1,563      3,191      4,012        262    -18,720     -9,929

                                                                          CHANGES IN SPENDING SUBJECT TO APPROPRIATION

Estimated Authorization Level....................          0      2,000          0          0          0          0          0          0          0          0          0      2,000      2,000
Estimated Outlays................................          0        340        580        400        260        220        140         40          0          0          0      1,800     1,980
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Sources: CBO and staff of the Joint Committee on Taxation.
aThe bill's provision to extend spending authority for certain surface transportation programs through May 2015 would allow for spending that would not happen under current law. However, the
  continuation of spending at current (annualized) levels is assumed in CBO's baseline projections, as required by the Balanced Budget and Emergency Deficit Control Act. Therefore, enacting
  the extension in H.R. 5021 would have no effect relative to those baseline projections.

    Modification of Pension Calculation. Employers are required 
to pay premiums to the Pension Benefit Guaranty Corporation 
(PBGC) that are based on the amount of underfunding of their 
pension plans. By reducing the amounts that employers must 
contribute to their plans, the bill would increase the amount 
of underfunding and thereby increase the premiums paid to the 
PBGC. Also, to the extent that employers terminate their plans 
in the next 10 years, PBGC will assume those plans' assets and 
pay pension benefits to those retirees. Under the bill, the 
greater amount of underfunding would probably cause some plans 
to be terminated more quickly than under current law, while 
some other plans that would have been terminated anyway would 
have fewer assets for PBGC to assume; both of those differences 
would increase costs for PBGC. Based on information from PBGC, 
CBO estimates that the increased premium income and higher 
federal payments for retirees' benefits would, on net, reduce 
direct spending by $1.2 billion over the 2015-2024 period.
    Extension of the Authorization for Surface Transportation 
Provisions. H.R. 5021 would extend provisions of MAP-21 (The 
Moving Ahead for Progress in the 21st Century Act, Public Law 
112-141), the most recent authorization for highway and transit 
programs, through May 2015. That law authorizes programs 
administered by the Federal Highway Administration, the Federal 
Transit Administration, the National Highway Traffic Safety 
Administration, and the Federal Motor Carrier Safety 
Administration. However, the continuation of spending at 
current (annualized) levels is assumed in CBO's baseline 
projections, as required by the Balanced Budget and Emergency 
Deficit Control Act. Because H.R. 5021 would extend spending 
authority at the current level (on an annualized basis), it 
would have no effect on spending relative to those baseline 
projections.

Revenues

    H.R. 5021 would modify the method of determining the 
interest rates that certain sponsors of pension plans use when 
calculating their required contributions to certain defined 
benefit plans. Through 2020, sponsors that maintain single-
employer defined benefit plans would be allowed to use higher 
interest rates than under current law, resulting in lower 
contributions by employers to those plans initially and higher 
contributions in the latter years of the baseline period. Such 
contributions are tax-deductible, so a reduction in their 
amount would increase firms' taxable income.
    JCT estimates that those and other pension provisions of 
H.R. 5021 would increase revenues by about $18.0 billion over 
the 2014-2019 period and by about $5.2 billion over the 2014-
2024 period. A portion of those estimated increases in 
revenues--about $0.8 billion over the 2014-2019 period and $0.2 
billion over the 2014-2024 period--would stem from Social 
Security taxes, which are classified as off-budget.

Spending subject to appropriation

    H.R. 5021 would authorize the appropriation of funds for 
the construction of certain new transit projects that operate 
on fixed routes (for example, subway and light rail projects), 
for certain transportation-related grants to tribal 
governments, and for certain programs operated by the Pipeline 
and Hazardous Materials Administration. CBO estimates that the 
bill would authorize the appropriation of $2 billion, on an 
annualized basis, for fiscal year 2015.
    Pay-As-You-Go considerations: The Statutory Pay-As-You-Go 
Act of 2010 establishes budget-reporting and enforcement 
procedures for legislation affecting direct spending or 
revenues. The net changes in outlays and revenues that are 
subject to those pay-as-you-go procedures are shown in the 
following table. For pay-as-you-go purposes, only on-budget 
effects are included; thus, additional revenues that would be 
paid into Social Security's trust funds under H.R. 5021 are 
excluded from this table.

                               CBO ESTIMATE OF PAY-AS-YOU-GO EFFECTS FOR H.R. 5021, AS ORDERED REPORTED BY THE HOUSE COMMITTEE ON WAYS AND MEANS ON JULY 10, 2014
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                      By fiscal year, in millions of dollars--
                                                  ----------------------------------------------------------------------------------------------------------------------------------------------
                                                      2014       2015       2016       2017       2018       2019       2020       2021       2022       2023       2024    2014-2019  2014-2024
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                      NET INCREASE OR DECREASE (-) IN THE ON-BUDGET DEFICIT

Statutory Pay-As-You-Go Impact...................       -725     -2,606     -4,022     -4,504     -3,927     -2,181       -251      1,473      3,036      3,837        105    -17,965     -9,765
Memorandum:
    Changes in Outlays...........................          0        -15        -70       -150       -210       -235       -215       -195       -130        -40     -3,517       -680     -4,777
    Changes in Revenues..........................        725      2,591      3,952      4,354      3,717      1,946         36     -1,668     -3,166     -3,877     -3,622     17,285      4,988
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

    Estimated impact on state, local, and tribal governments: 
CBO has reviewed the nontax provisions of H.R. 5021 and 
determined that they contain no intergovernmental mandates as 
defined in UMRA and would impose no costs on state, local, or 
tribal governments. JCT has reviewed the tax provisions of H.R. 
5021 and determined that they also contain no intergovernmental 
mandates.
    Estimated impact on the private sector: CBO has determined 
that the nontax provisions of H.R. 5021 would impose a private-
sector mandate, as defined in UMRA, by extending customs fees 
for one year. CBO estimates that those fees would total about 
$3.5 billion in 2024. Consequently, the cost of the mandate 
would well exceed the annual threshold established in UMRA for 
private-sector mandates ($152 million in 2014, adjusted 
annually for inflation). JCT has reviewed the tax provisions of 
H.R. 5021 and determined that they contain no private-sector 
mandates.
    Estimate prepared by: Federal spending: Sarah Puro, Mark 
Grabowicz, and Sheila Dacey; Federal revenues: Mark Booth and 
the staff of the Joint Committee on Taxation; Impact on state, 
local, and tribal governments: Mike Hirsch and Leo Lex; Impact 
on the private sector: Amy Petz.
    Estimate approved by: Peter H. Fontaine, Assistant Director 
for Budget Analysis.

                    D. Macroeconomic Impact Analysis

    In compliance with clause 3(h)(2) of rule XIII of the Rules 
of the House of Representatives, the following statement is 
made by the Joint Committee on Taxation with respect to the 
provisions of the bill amending the Internal Revenue Code of 
1986: the effects of the bill on economic activity are so small 
as to be incalculable within the context of a model of the 
aggregate economy.

     V. OTHER MATTERS TO BE DISCUSSED UNDER THE RULES OF THE HOUSE


          A. Committee Oversight Findings and Recommendations

    With respect to clause 3(c)(1) of rule XIII of the Rules of 
the House of Representatives (relating to oversight findings), 
the Committee advises that it was as a result of the 
Committee's review of the provisions of H.R. 5021 that 
warranted a referral to the Committee on Ways and Means that 
the Committee concluded that it is appropriate to report the 
bill favorably to the House of Representatives with the 
recommendation that the bill do pass.

        B. Statement of General Performance Goals and Objectives

    With respect to clause 3(c)(4) of rule XIII of the Rules of 
the House of Representatives, the Committee advises that the 
provisions that warranted a referral to the Committee on Ways 
and Means contain no measures that authorize funding for 
specific programs supported by the Highway Trust Fund, so no 
statement of general performance goals and objectives for which 
any measure authorizes funding is required.

              C. Information Relating to Unfunded Mandates

    This information is provided in accordance with section 423 
of the Unfunded Mandates Reform Act of 1995 (Pub. L. No. 104-
4).
    Among the provisions of the bill that warranted a referral 
to the Committee on Ways and Means, the Committee has 
determined that the bill's tax provisions do not contain any 
Federal private sector mandates--and do not impose a Federal 
intergovernmental mandate on State, local, or tribal 
governments--within the meaning of Public Law No. 104-4, the 
Unfunded Mandates Reform Act of 1995 (UMRA). The Committee also 
states that, according to the Congressional Budget Office 
(CBO), the provision related to Customs user fees would impose 
a private-sector mandate, as defined by UMRA, but would not 
impose intergovernmental mandates or costs on state, local, or 
tribal governments.

                D. Applicability of House Rule XXI 5(b)

    Clause 5(b) of rule XXI of the Rules of the House of 
Representatives provides, in part, that ``A bill or joint 
resolution, amendment, or conference report carrying a Federal 
income tax rate increase may not be considered as passed or 
agreed to unless so determined by a vote of not less than 
three-fifths of the Members voting, a quorum being present.'' 
The Committee has carefully reviewed the provisions of the 
bill, and states that the provisions of the bill do not involve 
any Federal income tax rate increases within the meaning of the 
rule.

                       E. Tax Complexity Analysis

    Section 4022(b) of the Internal Revenue Service Reform and 
Restructuring Act of 1998 (the ``IRS Reform Act'') requires the 
Joint Committee on Taxation (in consultation with the Internal 
Revenue Service and the Department of the Treasury) to provide 
a tax complexity analysis. The complexity analysis is required 
for all legislation reported by the Senate Committee on 
Finance, the House Committee on Ways and Means, or any 
committee of conference if the legislation includes a provision 
that directly or indirectly amends the Internal Revenue Code 
and has widespread applicability to individuals or small 
businesses.
    Pursuant to clause 3(h)(1) of rule XIII of the Rules of the 
House of Representatives, the staff of the Joint Committee on 
Taxation has determined that a complexity analysis is not 
required under section 4022(b) of the IRS Reform Act because 
the bill contains no provisions that amend the Code and have 
``widespread applicability'' to individuals or small businesses 
within the meaning of that section.

  F. Congressional Earmarks, Limited Tax Benefits, and Limited Tariff 
                                Benefits

    With respect to clause 9 of rule XXI of the Rules of the 
House of Representatives, the Committee has carefully reviewed 
the provisions of the bill that warranted a referral to the 
Committee on Ways and Means, and states that such provisions do 
not contain any congressional earmarks, limited tax benefits, 
or limited tariff benefits within the meaning of the rule.

                   G. Duplication of Federal Programs

    In compliance with Sec. 3(j)(2) of H. Res. 5 (113th 
Congress), the Committee states that, with respect to 
provisions that warranted a referral to the Committee on Ways 
and Means, the Government Accountability Office has included 
the Highway Trust Fund and related programs and Customs user 
fees in reports to Congress pursuant to section 21 of Public 
Law 111-139. The Committee also states that, with respect to 
provisions that warranted a referral to the Committee on Ways 
and Means, the most recent Catalog of Federal Domestic 
Assistance, published pursuant to the Federal Program 
Information Act (Public Law 95-220, as amended by Public Law 
98-169), identified programs related to the Leaking Underground 
Storage Tank Trust Fund.

                 H. Disclosure of Directed Rule Makings

    In compliance with Sec. 3(k) of H. Res. 5 (113th Congress), 
the following statement is made concerning directed rule 
makings: The Committee estimates that the provisions of the 
bill that warranted a referral to the Committee on Ways and 
Means require no directed rule makings within the meaning of 
such section.

       VI. CHANGES IN EXISTING LAW MADE BY THE BILL, AS REPORTED

  In compliance with clause 3(e) of rule XIII of the Rules of 
the House of Representatives, changes in existing law made by 
the bill, as reported, are shown as follows (existing law 
proposed to be omitted is enclosed in black brackets, new 
matter is printed in italic, existing law in which no change is 
proposed is shown in roman):

                                 MAP-21




           *       *       *       *       *       *       *
   DIVISION A--FEDERAL-AID HIGHWAYS AND HIGHWAY SAFETY CONSTRUCTION 
                                PROGRAMS

                     TITLE I--FEDERAL-AID HIGHWAYS

Subtitle A--Authorizations and Programs

           *       *       *       *       *       *       *


SEC. 1102. OBLIGATION CEILING.

  (a) General Limitation.--Subject to subsection (e), and 
notwithstanding any other provision of law, the obligations for 
Federal-aid highway and highway safety construction programs 
shall not exceed--
          (1) $39,699,000,000 for fiscal year 2013; [and]
          (2) $40,256,000,000 for fiscal year 2014[.]; and
          (3) $26,800,569,863 for the period beginning on 
        October 1, 2014, and ending on May 31, 2015.
  (b) Exceptions.--The limitations under subsection (a) shall 
not apply to obligations under or for--
          (1) * * *

           *       *       *       *       *       *       *

          (10) section 105 of title 23, United States Code 
        (but, for each of fiscal years 2005 through [2011] 
        2012, only in an amount equal to $639,000,000 for each 
        of those fiscal years);

           *       *       *       *       *       *       *

          (12) section 119 of title 23, United States Code 
        (but, for each of fiscal years 2013 through 2014, only 
        in an amount equal to $639,000,000 for each of those 
        fiscal years, and for the period beginning on October 
        1, 2014, and ending on May 31, 2015, only in an amount 
        equal to $639,000,000, less any reductions that would 
        have otherwise been required for that year by section 
        251A of the Balanced Budget and Emergency Deficit 
        Control Act of 1985 (2 U.S.C. 901a), then multiplied by 
        \243/365\ for that period).
  (c) Distribution of Obligation Authority.--For each of fiscal 
years 2013 through 2014 and for the period beginning on October 
1, 2014, and ending on May 31, 2015, the Secretary--
          (1) shall not distribute obligation authority 
        provided by subsection (a) for the fiscal year or 
        period for--
                  [(A) amounts authorized for administrative 
                expenses and programs by section 104(a) of 
                title 23, United States Code; and]
                  (A) amounts provided for administrative 
                expenses and programs; and

           *       *       *       *       *       *       *

          (2) shall not distribute an amount of obligation 
        authority provided by subsection (a) that is equal to 
        the unobligated balance of amounts or, for the period 
        beginning on October 1, 2014, and ending May 31, 2015, 
        that is equal to \243/365\ of such unobligated 
        balance--
                  (A) * * *

           *       *       *       *       *       *       *

          (3) shall determine the proportion that--
                  (A) the obligation authority provided by 
                subsection (a) for the fiscal year or period, 
                less the aggregate of amounts not distributed 
                under paragraphs (1) and (2) of this 
                subsection; bears to
                  (B) the total of the sums authorized to be 
                appropriated for the Federal-aid highway and 
                highway safety construction programs (other 
                than sums authorized to be appropriated for 
                provisions of law described in paragraphs (1) 
                through (11) of subsection (b) and sums 
                authorized to be appropriated for section 119 
                of title 23, United States Code, equal to the 
                amount referred to in subsection (b)(12) for 
                the fiscal year or period), less the aggregate 
                of the amounts not distributed under paragraphs 
                (1) and (2) of this subsection;
          (4) shall distribute the obligation authority 
        provided by subsection (a), less the aggregate amounts 
        not distributed under paragraphs (1) and (2), for each 
        of the programs (other than programs to which paragraph 
        (1) applies) that are allocated by the Secretary under 
        this Act and title 23, United States Code, or 
        apportioned by the Secretary under sections 202 or 204 
        of that title, by multiplying--
                  (A) * * *
                  (B) the amounts authorized to be appropriated 
                for each such program for the fiscal year or 
                period; and
          (5) shall distribute the obligation authority 
        provided by subsection (a), less the aggregate amounts 
        not distributed under paragraphs (1) and (2) and the 
        amounts distributed under paragraph (4), for Federal-
        aid highway and highway safety construction programs 
        that are apportioned by the Secretary under title 23, 
        United States Code (other than the amounts apportioned 
        for the national highway performance program in section 
        119 of title 23, United States Code, that are exempt 
        from the limitation under subsection (b)(12) and the 
        amounts apportioned under [section 204] sections 202 
        and 204 of that title) in the proportion that--
                  (A) amounts authorized to be appropriated for 
                the programs that are apportioned under title 
                23, United States Code, to each State for the 
                fiscal year or period; bears to
                  (B) the total of the amounts authorized to be 
                appropriated for the programs that are 
                apportioned under title 23, United States Code, 
                to all States for the fiscal year or period.
  (d) Redistribution of Unused Obligation Authority.--
Notwithstanding subsection (c), the Secretary shall, after 
August 1 of each of fiscal years 2013 through [2014] 2015--
          (1) * * *

           *       *       *       *       *       *       *

  (f) Redistribution of Certain Authorized Funds.--
          (1) In general.--Not later than 30 days after the 
        date of distribution of obligation authority under 
        subsection (c) for each of fiscal years 2013 through 
        2014 and for the period beginning on October 1, 2014, 
        and ending on May 31, 2015, the Secretary shall 
        distribute to the States any funds (excluding funds 
        authorized for the program under section 202 of title 
        23, United States Code) that--
                  (A) are authorized to be appropriated for the 
                fiscal year or period for Federal-aid highway 
                programs; and
                  (B) the Secretary determines will not be 
                allocated to the States (or will not be 
                apportioned to the States under section 204 of 
                title 23, United States Code), and will not be 
                available for obligation, for the fiscal year 
                or period because of the imposition of any 
                obligation limitation for the fiscal year or 
                period.

           *       *       *       *       *       *       *

          (3) Availability.--Funds distributed to each State 
        under paragraph (1) shall be available for any purpose 
        described in [section 133(c)] section 133(b) of title 
        23, United States Code. 

           *       *       *       *       *       *       *


SEC. 1123. TRIBAL HIGH PRIORITY PROJECTS PROGRAM.

  (a) * * *

           *       *       *       *       *       *       *

  (h) Authorization of Appropriations.--
          (1) In general.--There is authorized to be 
        appropriated $30,000,000 out of the general fund of the 
        Treasury to carry out the program for each of fiscal 
        years 2013 and 2014 and $19,972,603 out of the general 
        fund of the Treasury to carry out the program for the 
        period beginning on October 1, 2014, and ending on May 
        31, 2015.

           *       *       *       *       *       *       *


  DIVISION C--TRANSPORTATION SAFETY AND SURFACE TRANSPORTATION POLICY

TITLE I--MOTOR VEHICLE AND HIGHWAY SAFETY IMPROVEMENT ACT OF 2012

           *       *       *       *       *       *       *


                       Subtitle A--Highway Safety

SEC. 31101. AUTHORIZATION OF APPROPRIATIONS.

  (a) In General.--The following sums are authorized to be 
appropriated out of the Highway Trust Fund (other than the Mass 
Transit Account):
          (1) Highway safety programs.--For carrying out 
        section 402 of title 23, United States Code--
                  (A) $235,000,000 for fiscal year 2013; [and]
                  (B) $235,000,000 for fiscal year 2014[.]; and
                  (C) $156,452,055 for the period beginning on 
                October 1, 2014, and ending on May 31, 2015.
          (2) Highway safety research and development.--For 
        carrying out section 403 of title 23, United States 
        Code--
                  (A) $110,500,000 for fiscal year 2013; [and]
                  (B) $113,500,000 for fiscal year 2014[.]; and
                  (C) $75,563,014 for the period beginning on 
                October 1, 2014, and ending on May 31, 2015.
          (3) National priority safety programs.--For carrying 
        out section 405 of title 23, United States Code--
                  (A) $265,000,000 for fiscal year 2013; [and]
                  (B) $272,000,000 for fiscal year 2014[.]; and
                  (C) $181,084,932 for the period beginning on 
                October 1, 2014, and ending on May 31, 2015.
          (4) National driver register.--For the National 
        Highway Traffic Safety Administration to carry out 
        chapter 303 of title 49, United States Code--
                  (A) $5,000,000 for fiscal year 2013; [and]
                  (B) $5,000,000 for fiscal year 2014[.]; and
                  (C) $3,328,767 for the period beginning on 
                October 1, 2014, and ending on May 31, 2015.
          (5) High visibility enforcement program.--For 
        carrying out section 2009 of SAFETEA-LU (23 U.S.C. 402 
        note)--
                  (A) $29,000,000 for fiscal year 2013; [and]
                  (B) $29,000,000 for fiscal year 2014[.]; and
                  (C) $19,306,849 for the period beginning on 
                October 1, 2014, and ending on May 31, 2015.
          (6) Administrative expenses.--For administrative and 
        related operating expenses of the National Highway 
        Traffic Safety Administration in carrying out chapter 4 
        of title 23, United States Code, and this subtitle--
                  (A) $25,500,000 for fiscal year 2013; [and]
                  (B) $25,500,000 for fiscal year 2014[.]; and
                  (C) $16,976,712 for the period beginning on 
                October 1, 2014, and ending on May 31, 2015.

           *       *       *       *       *       *       *

  (c) Applicability of Title 23.--Except as otherwise provided 
in chapter 4 of title 23, United States Code, and in this 
subtitle, amounts made available under subsection (a) for 
fiscal years 2013 and 2014 and for the period beginning on 
October 1, 2014, and ending on May 31, 2015, shall be available 
for obligation in the same manner as if such funds were 
apportioned under chapter 1 of title 23, United States Code.

           *       *       *       *       *       *       *

                              ----------                              


                               SAFETEA-LU



           *       *       *       *       *       *       *
TITLE II--HIGHWAY SAFETY

           *       *       *       *       *       *       *


SEC. 2009. HIGH VISIBILITY ENFORCEMENT PROGRAM.

  (a) In General.--The Administrator of the National Highway 
Traffic Safety Administration shall establish and administer a 
program under which at least 3 high-visibility traffic safety 
law enforcement campaigns will be carried out for the purposes 
specified in subsection (b) in each of fiscal years 2013 and 
2014 and in the period beginning on October 1, 2014, and ending 
on May 31, 2015,. The Administrator may also initiate and 
support additional campaigns in each of fiscal years 2013 and 
2014 and in the period beginning on October 1, 2014, and ending 
on May 31, 2015, for the purposes specified in subsection (b).

           *       *       *       *       *       *       *


TITLE IV--MOTOR CARRIER SAFETY

           *       *       *       *       *       *       *


              Subtitle A--Commercial Motor Vehicle Safety

SEC. 4101. AUTHORIZATION OF APPROPRIATIONS.

  (a) * * *
  (c) Grant Programs.--There are authorized to be appropriated 
from the Highway Trust Fund (other than the Mass Transit 
Account) the following sums for the following Federal Motor 
Carrier Safety Administration programs:
          (1) Commercial driver's license program improvement 
        grants.--For commercial driver's license program 
        improvement grants under section 31313 of title 49, 
        United States Code $30,000,000 for each of fiscal years 
        2013 and 2014 and $19,972,603 for the period beginning 
        on October 1, 2014, and ending on May 31, 2015.
          (2) Border enforcement grants.--For border 
        enforcement grants under section 31107 of such title 
        $32,000,000 for each of fiscal years 2013 and 2014 and 
        $21,304,110 for the period beginning on October 1, 
        2014, and ending on May 31, 2015.
          (3) Performance and registration information system 
        management grant program.--For the performance and 
        registration information system management grant 
        program under section 31109 of such title $5,000,000 
        for each of fiscal years 2013 and 2014 and $3,328,767 
        for the period beginning on October 1, 2014, and ending 
        on May 31, 2015.
          (4) Commercial vehicle information systems and 
        networks deployment.--For carrying out the commercial 
        vehicle information systems and networks deployment 
        program under section 4126 of this Act, $25,000,000 for 
        each of fiscal years 2013 and 2014 and $16,643,836 for 
        the period beginning on October 1, 2014, and ending on 
        May 31, 2015.
          (5) Safety data improvement grants.--For safety data 
        improvement grants under section 4128 of this Act, 
        $3,000,000 for each of fiscal years 2013 and 2014 and 
        $1,997,260 for the period beginning on October 1, 2014, 
        and ending on May 31, 2015.

           *       *       *       *       *       *       *


SEC. 4127. OUTREACH AND EDUCATION.

  (a) * * *

           *       *       *       *       *       *       *

  (e) Funding.--From amounts made available under section 
31104(i) of title 49, United States Code, the Secretary shall 
make available $4,000,000 to the Federal Motor Carrier Safety 
Administration for each of fiscal years 2013 and 2014 and 
$2,663,014 to the Federal Motor Carrier Safety Administration 
for the period beginning on October 1, 2014, and ending on May 
31, 2015, to carry out this section (other than subsection 
(f)).

           *       *       *       *       *       *       *


SEC. 4134. GRANT PROGRAM FOR COMMERCIAL MOTOR VEHICLE OPERATORS.

  (a) * * *

           *       *       *       *       *       *       *

  (c) Funding.--From amounts made available under section 
31104(i) of title 49, United States Code, the Secretary shall 
make available $1,000,000 for each of fiscal years 2005 through 
2014 and $665,753 for the period beginning on October 1, 2014, 
and ending on May 31, 2015, to carry out this section.

           *       *       *       *       *       *       *

                              ----------                              


                      TITLE 23, UNITED STATES CODE



           *       *       *       *       *       *       *
CHAPTER 4--HIGHWAY SAFETY

           *       *       *       *       *       *       *


Sec. 403. Highway safety research and development

  (a) * * *

           *       *       *       *       *       *       *

  (f) Cooperative Research and Evaluation.--
          (1) Establishment and funding.--Notwithstanding the 
        apportionment formula set forth in section 402(c)(2), 
        $2,500,000 of the total amount available for 
        apportionment to the States for highway safety programs 
        under subsection 402(c) in each fiscal year ending 
        before October 1, 2014, and $1,664,384 of the total 
        amount available for apportionment to the States for 
        highway safety programs under section 402(c) in the 
        period beginning on October 1, 2014, and ending on May 
        31, 2015, shall be available for expenditure by the 
        Secretary, acting through the Administrator of the 
        National Highway Traffic Safety Administration, for a 
        cooperative research and evaluation program to research 
        and evaluate priority highway safety countermeasures.

           *       *       *       *       *       *       *

                              ----------                              


                      TITLE 49, UNITED STATES CODE



           *       *       *       *       *       *       *
SUBTITLE III--GENERAL AND INTERMODAL PROGRAMS

           *       *       *       *       *       *       *


CHAPTER 51--TRANSPORTATION OF HAZARDOUS MATERIAL

           *       *       *       *       *       *       *


Sec. 5128. Authorization of appropriations

  (a) In General.--There are authorized to be appropriated to 
the Secretary to carry out this chapter (except sections 
5107(e), 5108(g)(2), 5113, 5115, 5116, and 5119)--
          (1) $42,338,000 for fiscal year 2013; [and]
          (2) $42,762,000 for fiscal year 2014[.]; and
          (3) $28,468,948 for the period beginning on October 
        1, 2014, and ending on May 31, 2015.
  (b) Hazardous Materials Emergency Preparedness Fund.--[From 
the]
          (1) Fiscal years 2013 and 2014.--From the Hazardous 
        Materials Emergency Preparedness Fund established under 
        section 5116(i), the Secretary may expend, during each 
        of fiscal years 2013 and 2014--
                  [(1)] (A) $188,000 to carry out section 5115;
                  [(2)] (B) $21,800,000 to carry out 
                subsections (a) and (b) of section 5116, of 
                which not less than $13,650,000 shall be 
                available to carry out section 5116(b);
                  [(3)] (C) $150,000 to carry out section 
                5116(f);
                  [(4)] (D) $625,000 to publish and distribute 
                the Emergency Response Guidebook under section 
                5116(i)(3); and
                  [(5)] (E) $1,000,000 to carry out section 
                5116(j).
          (2) Fiscal year 2015.--From the Hazardous Materials 
        Emergency Preparedness Fund established under section 
        5116(i), the Secretary may expend for the period 
        beginning on October 1, 2014, and ending on May 31, 
        2015--
                  (A) $125,162 to carry out section 5115;
                  (B) $14,513,425 to carry out subsections (a) 
                and (b) of section 5116, of which not less than 
                $9,087,534 shall be available to carry out 
                section 5116(b);
                  (C) $99,863 to carry out section 5116(f);
                  (D) $416,096 to publish and distribute the 
                Emergency Response Guidebook under section 
                5116(i)(3); and
                  (E) $665,753 to carry out section 5116(j).
  (c) Hazardous Materials Training Grants.--From the Hazardous 
Materials Emergency Preparedness Fund established pursuant to 
section 5116(i), the Secretary may expend $4,000,000 for each 
of the fiscal years 2013 and 2014 and $2,663,014 for the period 
beginning on October 1, 2014, and ending on May 31, 2015, to 
carry out section 5107(e).

           *       *       *       *       *       *       *


CHAPTER 53--PUBLIC TRANSPORTATION

           *       *       *       *       *       *       *


Sec. 5311. Formula grants for rural areas

  (a) * * *

           *       *       *       *       *       *       *

  (c) Apportionments.--
          (1) Public transportation on Indian reservations.--Of 
        the amounts made available or appropriated for each 
        fiscal year pursuant to section 5338(a)(2)(E) to carry 
        out this paragraph, the following amounts shall be 
        apportioned each fiscal year for grants to Indian 
        tribes for any purpose eligible under this section, 
        under such terms and conditions as may be established 
        by the Secretary:
                  (A) $5,000,000 for each fiscal year ending 
                before October 1, 2014, and $3,328,767 for the 
                period beginning on October 1, 2014, and ending 
                on May 31, 2015, shall be distributed on a 
                competitive basis by the Secretary.
                  (B) $25,000,000 for each fiscal year ending 
                before October 1, 2014, and $16,643,836 for the 
                period beginning on October 1, 2014, and ending 
                on May 31, 2015, shall be apportioned as 
                formula grants, as provided in subsection (j).

           *       *       *       *       *       *       *


Sec. 5336. Apportionment of appropriations for formula grants

  (a) * * *

           *       *       *       *       *       *       *

  (h) Apportionments.--Of the amounts made available for each 
fiscal year under section 5338(a)(2)(C)--
          (1) $30,000,000 for each fiscal year ending before 
        October 1, 2014, and $19,972,603 for the period 
        beginning on October 1, 2014, and ending on May 31, 
        2015, shall be set aside to carry out section 5307(h);

           *       *       *       *       *       *       *


Sec. 5338. Authorizations

  (a) Formula Grants.--
          (1) In general.--There shall be available from the 
        Mass Transit Account of the Highway Trust Fund to carry 
        out sections 5305, 5307, 5310, 5311, 5318, 5322(d), 
        5335, 5337, 5339, and 5340, and section 20005(b) of the 
        Federal Public Transportation Act of 2012, 
        $8,478,000,000 for fiscal year 2013 [and $8,595,000,000 
        for fiscal year 2014], $8,595,000,000 for fiscal year 
        2014, and $5,722,150,685 for the period beginning on 
        October 1, 2014, and ending on May 31, 2015.
          (2) Allocation of funds.--Of the amounts made 
        available under paragraph (1)--
                  (A) $126,900,000 for fiscal year 2013 [and 
                $128,800,000 for fiscal year 2014], 
                $128,800,000 for fiscal year 2014, and 
                $85,749,041 for the period beginning on October 
                1, 2014, and ending on May 31, 2015, shall be 
                available to carry out section 5305;
                  (B) $10,000,000 for each of fiscal years 2013 
                and 2014 and $6,657,534 for the period 
                beginning on October 1, 2014, and ending on May 
                31, 2015, shall be available to carry out 
                section 20005(b) of the Federal Public 
                Transportation Act of 2012;
                  (C) $4,397,950,000 for fiscal year 2013 [and 
                $4,458,650,000 for fiscal year 2014], 
                $4,458,650,000 for fiscal year 2014, and 
                $2,968,361,507 for the period beginning on 
                October 1, 2014, and ending on May 31, 2015, 
                shall be allocated in accordance with section 
                5336 to provide financial assistance for 
                urbanized areas under section 5307;
                  (D) $254,800,000 for fiscal year 2013 [and 
                $258,300,000 for fiscal year 2014], 
                $258,300,000 for fiscal year 2014, and 
                $171,964,110 for the period beginning on 
                October 1, 2014, and ending on May 31, 2015, 
                shall be available to provide financial 
                assistance for services for the enhanced 
                mobility of seniors and individuals with 
                disabilities under section 5310;
                  (E) $599,500,000 for fiscal year 2013 [and 
                $607,800,000 for fiscal year 2014], 
                $607,800,000 for fiscal year 2014, and 
                $404,644,932 for the period beginning on 
                October 1, 2014, and ending on May 31, 2015, 
                shall be available to provide financial 
                assistance for rural areas under section 5311, 
                of which not less than $30,000,000 for fiscal 
                year 2013 [and $30,000,000 for fiscal year 
                2014], $30,000,000 for fiscal year 2014, and 
                $19,972,603 for the period beginning on October 
                1, 2014, and ending on May 31, 2015, shall be 
                available to carry out section 5311(c)(1) and 
                $20,000,000 for fiscal year 2013 [and 
                $20,000,000 for fiscal year 2014], $20,000,000 
                for fiscal year 2014, and $13,315,068 for the 
                period beginning on October 1, 2014, and ending 
                on May 31, 2015, shall be available to carry 
                out section 5311(c)(2);
                  (F) $3,000,000 for each of fiscal years 2013 
                and 2014 and $1,997,260 for the period 
                beginning on October 1, 2014, and ending on May 
                31, 2015, shall be available for bus testing 
                under section 5318;
                  (G) $5,000,000 for each of fiscal years 2013 
                and 2014 and $3,328,767 for the period 
                beginning on October 1, 2014, and ending on May 
                31, 2015, shall be available for the national 
                transit institute under section 5322(d);
                  (H) $3,850,000 for each of fiscal years 2013 
                and 2014 and $2,563,151 for the period 
                beginning on October 1, 2014, and ending on May 
                31, 2015, shall be available to carry out 
                section 5335;
                  (I) $2,136,300,000 for fiscal year 2013 [and 
                $2,165,900,000 for fiscal year 2014], 
                $2,165,900,000 for fiscal year 2014, and 
                $1,441,955,342 for the period beginning on 
                October 1, 2014, and ending on May 31, 2015, 
                shall be available to carry out section 5337;
                  (J) $422,000,000 for fiscal year 2013 [and 
                $427,800,000 for fiscal year 2014], 
                $427,800,000 for fiscal year 2014, and 
                $284,809,315 for the period beginning on 
                October 1, 2014, and ending on May 31, 2015, 
                shall be available for the bus and bus 
                facilities program under section 5339; and
                  (K) $518,700,000 for fiscal year 2013 [and 
                $525,900,000 for fiscal year 2014], 
                $525,900,000 for fiscal year 2014, and 
                $350,119,726 for the period beginning on 
                October 1, 2014, and ending on May 31, 2015, 
                shall be allocated in accordance with section 
                5340 to provide financial assistance for 
                urbanized areas under section 5307 and rural 
                areas under section 5311.
  (b) Research, Development Demonstration and Deployment 
Projects.--There are authorized to be appropriated to carry out 
section 5312, $70,000,000 for fiscal year 2013 [and $70,000,000 
for fiscal year 2014], $70,000,000 for fiscal year 2014, and 
$46,602,740 for the period beginning on October 1, 2014, and 
ending on May 31, 2015.
  (c) Transit Cooperative Research Program.--There are 
authorized to be appropriated to carry out section 5313, 
$7,000,000 for fiscal year 2013 [and $7,000,000 for fiscal year 
2014], $7,000,000 for fiscal year 2014, and $4,660,274 for the 
period beginning on October 1, 2014, and ending on May 31, 
2015.
  (d) Technical Assistance and Standards Development.--There 
are authorized to be appropriated to carry out section 5314, 
$7,000,000 for fiscal year 2013 [and $7,000,000 for fiscal year 
2014], $7,000,000 for fiscal year 2014, and $4,660,274 for the 
period beginning on October 1, 2014, and ending on May 31, 
2015.
  (e) Human Resources and Training.--There are authorized to be 
appropriated to carry out subsections (a), (b), (c), and (e) of 
section 5322, $5,000,000 for fiscal year 2013 [and $5,000,000 
for fiscal year 2014], $5,000,000 for fiscal year 2014, and 
$3,328,767 for the period beginning on October 1, 2014, and 
ending on May 31, 2015.

           *       *       *       *       *       *       *

  (g) Capital Investment Grants.--There are authorized to be 
appropriated to carry out section 5309, $1,907,000,000 for 
fiscal year 2013 [and $1,907,000,000 for fiscal year 2014], 
$1,907,000,000 for fiscal year 2014, and $1,269,591,781 for the 
period beginning on October 1, 2014, and ending on May 31, 
2015.
  (h) Administration.--
          (1) In general.--There are authorized to be 
        appropriated to carry out section 5334, $104,000,000 
        for fiscal year 2013 [and $104,000,000 for fiscal year 
        2014], $104,000,000 for fiscal year 2014, and 
        $69,238,356 for the period beginning on October 1, 
        2014, and ending on May 31, 2015.
          (2) Section 5329.--Of the amounts authorized to be 
        appropriated under paragraph (1), not less than 
        $5,000,000 for each of fiscal years 2013 and 2014 and 
        not less than $3,328,767 for the period beginning on 
        October 1, 2014, and ending on May 31, 2015, shall be 
        available to carry out section 5329.
          (3) Section 5326.--Of the amounts made available 
        under paragraph (2), not less than $1,000,000 for each 
        of fiscal years 2013 and 2014 and not less than 
        $665,753 for the period beginning on October 1, 2014, 
        and ending on May 31, 2015, shall be available to carry 
        out section 5326.

           *       *       *       *       *       *       *


Sec. 5339. Bus and bus facilities formula grants

  (a) * * *

           *       *       *       *       *       *       *

  (d) Distribution of Grant Funds.--Funds allocated under 
section 5338(a)(2)(J) shall be distributed as follows:
          (1) National distribution.--$65,500,000 for each of 
        fiscal years 2013 and 2014 and $43,606,849 for the 
        period beginning on October 1, 2014, and ending on May 
        31, 2015, shall be allocated to all States and 
        territories, with each State receiving $1,250,000 for 
        each such fiscal year and $832,192 for such period and 
        each territory receiving $500,000 for each such fiscal 
        year and $332,877 for such period.

           *       *       *       *       *       *       *


SUBTITLE VI--MOTOR VEHICLE AND DRIVER PROGRAMS

           *       *       *       *       *       *       *


PART B--COMMERCIAL

           *       *       *       *       *       *       *


              CHAPTER 311--COMMERCIAL MOTOR VEHICLE SAFETY

SUBCHAPTER I--GENERAL AUTHORITY AND STATE GRANTS PROGRAMS

           *       *       *       *       *       *       *


Sec. 31104. Availability of amounts

  (a) In General.--Subject to subsection (f), there are 
authorized to be appropriated from the Highway Trust Fund 
(other than the Mass Transit Account) to carry out section 
31102--
          (1) * * *

           *       *       *       *       *       *       *

          (8) $215,000,000 for fiscal year 2013; [and]
          (9) $218,000,000 for fiscal year 2014[.]; and
          (10) $145,134,247 for the period beginning on October 
        1, 2014, and ending on May 31, 2015.

           *       *       *       *       *       *       *

  (i) Administrative Expenses.--
          (1) Authorization of appropriations.--There are 
        authorized to be appropriated from the Highway Trust 
        Fund (other than the Mass Transit Account) for the 
        Secretary of Transportation to pay administrative 
        expenses of the Federal Motor Carrier Safety 
        Administration--
                  (A) * * *

           *       *       *       *       *       *       *

                  (H) $251,000,000 for fiscal year 2013; [and]
                  (I) $259,000,000 for fiscal year 2014[.]; and
                  (J) $172,430,137 for the period beginning on 
                October 1, 2014, and ending on May 31, 2015.

           *       *       *       *       *       *       *

  (k) High-Priority Activities.--
          (1) * * *
          (2) Set aside.--The Secretary may set aside from 
        amounts made available by subsection (a) up to 
        $15,000,000 for each of fiscal years 2006 through 2014 
        and up to $9,986,301 for the period beginning on 
        October 1, 2014, and ending on May 31, 2015, for 
        States, local governments, and organizations 
        representing government agencies or officials described 
        in paragraph (3) for carrying out high priority 
        activities and projects that improve commercial motor 
        vehicle safety and compliance with commercial motor 
        vehicle safety regulations (including activities and 
        projects that are national in scope), increase public 
        awareness and education, demonstrate new technologies, 
        and reduce the number and rate of accidents involving 
        commercial motor vehicles.

           *       *       *       *       *       *       *


SUBCHAPTER III--SAFETY REGULATION

           *       *       *       *       *       *       *


Sec. 31144. Safety fitness of owners and operators

  (a) * * *

           *       *       *       *       *       *       *

  (g) Safety Reviews of New Operators.--
          (1) * * *

           *       *       *       *       *       *       *

          (5) New entrant audits.--
                  (A) * * *
                  (B) Set aside.--The Secretary shall set aside 
                from amounts made available by section 31104(a) 
                up to $32,000,000 per fiscal year and up to 
                $21,304,110 for the period beginning on October 
                1, 2014, and ending on May 31, 2015, for audits 
                of new entrant motor carriers conducted 
                pursuant to this paragraph.

           *       *       *       *       *       *       *

                              ----------                              


               DINGELL-JOHNSON SPORT FISH RESTORATION ACT



           *       *       *       *       *       *       *
  Sec. 4. (a) In General.--For each fiscal year through 2014 
and for the period beginning on October 1, 2014, and ending on 
May 31, 2015, the balance of each annual appropriation made in 
accordance with the provisions of section 3 remaining after the 
distributions for administrative expenses and other purposes 
under subsection (b) and for multistate conservation grants 
under section 14 shall be distributed as follows:
          (1) * * *

           *       *       *       *       *       *       *

  (b) Set-Aside for Expenses for Administration of the Dingell-
Johnson Sport Fish Restoration Act.--
          (1) In general.--
                  (A) Set-aside for administration.--From the 
                annual appropriation made in accordance with 
                section 3, [for each of fiscal years 2006 
                through 2011 and for the period beginning on 
                October 1, 2011, and ending on June 30, 2012,] 
                for each fiscal year ending before October 1, 
                2014, and for the period beginning on October 
                1, 2014, and ending on May 31, 2015, the 
                Secretary of the Interior may use no more than 
                the amount specified in subparagraph (B) for 
                the fiscal year for expenses for administration 
                incurred in the implementation of this Act, in 
                accordance with this section and section 9. The 
                amount specified in subparagraph (B) for a 
                fiscal year may not be included in the amount 
                of the annual appropriation distributed under 
                subsection (a) for the fiscal year.

           *       *       *       *       *       *       *

                              ----------                              


                     INTERNAL REVENUE CODE OF 1986



           *       *       *       *       *       *       *
Subtitle A--Income Taxes

           *       *       *       *       *       *       *


CHAPTER 1--NORMAL TAXES AND SURTAXES

           *       *       *       *       *       *       *


Subchapter D--Deferred Compensation, Etc

           *       *       *       *       *       *       *


   PART III--RULES RELATING TO MINIMUM FUNDING STANDARDS AND BENEFIT 
LIMITATIONS

           *       *       *       *       *       *       *


         Subpart A--Minimum Funding Standards for Pension Plans

SEC. 430. MINIMUM FUNDING STANDARDS FOR SINGLE-EMPLOYER DEFINED BENEFIT 
                    PENSION PLANS.

  (a) * * *

           *       *       *       *       *       *       *

  (h) Actuarial Assumptions and Methods.--
          (1) * * *
          (2) Interest rates.--
                  (A) * * *
                  (B) Interest rates for determining funding 
                target.--For purposes of determining the 
                funding target and target normal cost of a plan 
                for any plan year, the interest rate used in 
                determining the present value of the benefits 
                of the plan shall be--
                          (i) in the case of benefits 
                        reasonably determined to be payable 
                        during the 5-year period beginning on 
                        [the first day of the plan year] the 
                        valuation date for the plan year, the 
                        first segment rate with respect to the 
                        applicable month,

           *       *       *       *       *       *       *

                  (C) Segment rates.--For purposes of this 
                paragraph--
                          (i) * * *

           *       *       *       *       *       *       *

                          (iv) Segment rate stabilization.--
                                  (I) * * *
                                  (II) Applicable minimum 
                                percentage; applicable maximum 
                                percentage.--For purposes of 
                                subclause (I), the applicable 
                                minimum percentage and the 
                                applicable maximum percentage 
                                for a plan year beginning in a 
                                calendar year shall be 
                                determined in accordance with 
                                the following table:



------------------------------------------------------------------------
 [If the calendar year   The applicable minimum   The applicable maximum
          is:                percentage is:           percentage is:
------------------------------------------------------------------------
2012..................  90%                      110%
2013..................  85%                      115%
2014..................  80%                      120%
2015..................  75%                      125%
After 2015............  70%                      130%.]
------------------------------------------------------------------------




----------------------------------------------------------------------------------------------------------------
                                            The applicable minimum
       If the calendar year is:                 percentage is:           The applicable maximum percentage is:
----------------------------------------------------------------------------------------------------------------
2012, 2013, 2014, 2015, 2016, or 2017.  90%..........................  110%
2018..................................  85%..........................  115%
2019..................................  80%..........................  120%
2020..................................  75%..........................  125%
After 2020............................  70%..........................  130%
----------------------------------------------------------------------------------------------------------------

                                                                       

           *       *       *       *       *       *       *
       Subpart B--Benefit Limitations Under Single-Employer Plans

SEC. 436. FUNDING-BASED LIMITS ON BENEFITS AND BENEFIT ACCRUALS UNDER 
                    SINGLE-EMPLOYER PLANS.

  (a) * * *

           *       *       *       *       *       *       *

  (d) Limitations on Accelerated Benefit Distributions.--
          (1) * * *
          (2) Bankruptcy.--A defined benefit plan which is a 
        single- employer plan shall provide that, during any 
        period in which the plan sponsor is a debtor in a case 
        under title 11 or similar Federal or State law, the 
        plan may not pay any prohibited payment. The preceding 
        sentence shall not apply on or after the date on which 
        the enrolled actuary of the plan certifies that the 
        adjusted funding target attainment percentage [of such 
        plan] of such plan (determined by not taking into 
        account any adjustment of segment rates under section 
        430(h)(2)(C)(iv)) is not less than 100 percent.

           *       *       *       *       *       *       *


Subtitle I--Trust Fund Code

           *       *       *       *       *       *       *


CHAPTER 98--TRUST FUND CODE

           *       *       *       *       *       *       *


Subchapter A--Establishment of Trust Funds

           *       *       *       *       *       *       *


SEC. 9503. HIGHWAY TRUST FUND.

  (a) * * *
  (b) Transfer to Highway Trust Fund of Amounts Equivalent to 
Certain Taxes and Penalties.--
          (1) * * *

           *       *       *       *       *       *       *

          (6) Limitation on transfers to Highway Trust Fund.--
                  (A) * * *
                  (B) Exception for prior obligations.--
                Subparagraph (A) shall not apply to any 
                expenditure to liquidate any contract entered 
                into (or for any amount otherwise obligated) 
                before [October 1, 2014] June 1, 2015, in 
                accordance with the provisions of this section.
  (c) Expenditures from Highway Trust Fund.--
          (1) Federal-aid highway program.--Except as provided 
        in subsection (e), amounts in the Highway Trust Fund 
        shall be available, as provided by appropriation Acts, 
        for making expenditures before [October 1, 2014] June 
        1, 2015, to meet those obligations of the United States 
        heretofore or hereafter incurred which are authorized 
        to be paid out of the Highway Trust Fund under the 
        [MAP-21] Highway and Transportation Funding Act of 2014 
        or any other provision of law which was referred to in 
        this paragraph before the date of the enactment of such 
        Act (as such Act and provisions of law are in effect on 
        the date of the enactment of such Act).

           *       *       *       *       *       *       *

  (e) Establishment of Mass Transit Account.--
          (1) * * *

           *       *       *       *       *       *       *

          (3) Expenditures from Account.--Amounts in the Mass 
        Transit Account shall be available, as provided by 
        appropriation Acts, for making capital or capital 
        related expenditures (including capital expenditures 
        for new projects) before [October 1, 2014] June 1, 
        2015, in accordance with the [MAP-21] Highway and 
        Transportation Funding Act of 2014 or any other 
        provision of law which was referred to in this 
        paragraph before the date of the enactment of such Act 
        (as such Act and provisions of law are in effect on the 
        date of the enactment of such Act).

           *       *       *       *       *       *       *

  (f) Determination of Trust Fund Balances After September 30, 
1998.--
          (1) * * *

           *       *       *       *       *       *       *

          (5) Additional sums.--Out of money in the Treasury 
        not otherwise appropriated, there is hereby 
        appropriated--
                  (A) $7,765,000,000 to the Highway Account (as 
                defined in subsection (e)(5)(B)) in the Highway 
                Trust Fund; and
                  (B) $2,000,000,000 to the Mass Transit 
                Account in the Highway Trust Fund.
          (6) Additional increase in fund balance.--There is 
        hereby transferred to the Highway Account (as defined 
        in subsection (e)(5)(B)) in the Highway Trust Fund 
        amounts appropriated from the Leaking Underground 
        Storage Tank Trust Fund under section 9508(c)(3).
          [(5)] (7) Treatment of amounts.--Any amount 
        appropriated or transferred under this subsection to 
        the Highway Trust Fund shall remain available without 
        fiscal year limitation.

SEC. 9504. SPORT FISH RESTORATION AND BOATING TRUST FUND.

  (a) * * *
  (b) Sport Fish Restoration and Boating Trust Fund.--
          (1) * * *
          (2) Expenditures from Trust Fund.--Amounts in the 
        Sport Fish Restoration and Boating trust Fund shall be 
        available, as provided by appropriation Acts, for 
        making expenditures--
                  (A) to carry out the purposes of the Dingell-
                Johnson Sport Fish Restoration Act (as in 
                effect on the date of the enactment of the 
                [MAP-21] Highway and Transportation Funding Act 
                of 2014),
                  (B) to carry out the purposes of section 
                7404(d) of the Transportation Equity Act for 
                the 21st Century (as in effect on the date of 
                the enactment of the [MAP-21] Highway and 
                Transportation Funding Act of 2014), and
                  (C) to carry out the purposes of the Coastal 
                Wetlands Planning, Protection and Restoration 
                Act (as in effect on the date of the enactment 
                of the [MAP-21] Highway and Transportation 
                Funding Act of 2014).
        Amounts transferred to such account under section 
        9503(c)(4) may be used only for making expenditures 
        described in subparagraph (C) of this paragraph.

           *       *       *       *       *       *       *

  (d) Limitation on Transfers to Trust Fund.--
          (1) * * *
          (2) Exception for prior obligations.--Paragraph (1) 
        shall not apply to any expenditure to liquidate any 
        contract entered into (or for any amount otherwise 
        obligated) before [October 1, 2014] June 1, 2015, in 
        accordance with the provisions of this section.

           *       *       *       *       *       *       *


SEC. 9508. LEAKING UNDERGROUND STORAGE TANK TRUST FUND.

  (a) * * *

           *       *       *       *       *       *       *

  (c) Expenditures.--
          (1) In general.--Except as provided in [paragraph 
        (2)] paragraphs (2) and (3), amounts in the Leaking 
        Underground Storage Tank Trust Fund shall be available, 
        as provided in appropriation Acts, only for purposes of 
        making expenditures to carry out sections 9003(h), 
        9003(i), 9003(j), 9004(f), 9005(c), 9010, 9011, 9012, 
        and 9013 of the Solid Waste Disposal Act as in effect 
        on the date of the enactment of the Public Law 109-168.

           *       *       *       *       *       *       *

          (3) Additional transfer to highway trust fund.--Out 
        of amounts in the Leaking Underground Storage Tank 
        Trust Fund there is hereby appropriated $1,000,000,000 
        to be transferred under section 9503(f)(6) to the 
        Highway Account (as defined in section 9503(e)(5)(B)) 
        in the Highway Trust Fund.

           *       *       *       *       *       *       *

  (e) Limitation on Transfers to Leaking Underground Storage 
Tank Trust Fund.--
          (1) * * *
          (2) Exception for prior obligations.--Paragraph (1) 
        shall not apply to any expenditure to liquidate any 
        contract entered into (or for any amount otherwise 
        obligated) before [October 1, 2014] June 1, 2015, in 
        accordance with the provisions of this section.

           *       *       *       *       *       *       *

                              ----------                              


            EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974



           *       *       *       *       *       *       *
TITLE I--PROTECTION OF EMPLOYEE BENEFIT RIGHTS

           *       *       *       *       *       *       *


Subtitle B--Regulatory Provisions

           *       *       *       *       *       *       *


                    Part 1--Reporting and Disclosure

                    duty of disclosure and reporting

  Sec. 101. (a) * * *

           *       *       *       *       *       *       *

  (f) Defined Benefit Plan Funding Notices.--
          (1) * * *
          (2) Information contained in notices.--
                  (A) * * *

           *       *       *       *       *       *       *

                  (D) Effect of segment rate stabilization on 
                plan funding.--
                          (i) In general.--In the case of a 
                        single-employer plan for an applicable 
                        plan year, each notice under paragraph 
                        (1) shall include--
                                  (I) a statement that the MAP-
                                21 and the Highway and 
                                Transportation Funding Act of 
                                2014 modified the method for 
                                determining the interest rates 
                                used to determine the actuarial 
                                value of benefits earned under 
                                the plan, providing for a 25-
                                year average of interest rates 
                                to be taken into account in 
                                addition to a 2-year average,
                                  (II) a statement that, as a 
                                result of the MAP-21 and the 
                                Highway and Transportation 
                                Funding Act of 2014, the plan 
                                sponsor may contribute less 
                                money to the plan when interest 
                                rates are at historical lows, 
                                and

           *       *       *       *       *       *       *

                          (ii) Applicable plan year.--For 
                        purposes of this subparagraph, the term 
                        ``applicable plan year'' means any plan 
                        year beginning after December 31, 2011, 
                        and before January 1, [2015] 2020, for 
                        which--
                                  (I) * * *

           *       *       *       *       *       *       *


Part 2--Participation and Vesting

           *       *       *       *       *       *       *


       other provisions relating to form and payment of benefits

  Sec. 206. (a) * * *

           *       *       *       *       *       *       *

  (g) Funding-Based Limits on Benefits and Benefit Accruals 
Under Single-Employer Plans.--
          (1) * * *

           *       *       *       *       *       *       *

          (3) Limitations on accelerated benefit 
        distributions.--
                  (A) * * *
                  (B) Bankruptcy.--A defined benefit plan which 
                is a single-employer plan shall provide that, 
                during any period in which the plan sponsor is 
                a debtor in a case under title 11, United 
                States Code, or similar Federal or State law, 
                the plan may not pay any prohibited payment. 
                The preceding sentence shall not apply on or 
                after the date on which the enrolled actuary of 
                the plan certifies that the adjusted funding 
                target attainment percentage [of such plan] of 
                such plan (determined by not taking into 
                account any adjustment of segment rates under 
                section 303(h)(2)(C)(iv)) is not less than 100 
                percent.

           *       *       *       *       *       *       *


Part 3--Funding

           *       *       *       *       *       *       *


SEC. 303. MINIMUM FUNDING STANDARDS FOR SINGLE-EMPLOYER DEFINED BENEFIT 
                    PENSION PLANS.

  (a) * * *

           *       *       *       *       *       *       *

  (h) Actuarial Assumptions and Methods.--
          (1) * * *
          (2) Interest rates.--
                  (A) * * *
                  (B) Interest rates for determining funding 
                target.--For purposes of determining the 
                funding target and normal cost of a plan for 
                any plan year, the interest rate used in 
                determining the present value of the benefits 
                of the plan shall be--
                          (i) in the case of benefits 
                        reasonably determined to be payable 
                        during the 5-year period beginning on 
                        [the first day of the plan year] the 
                        valuation date for the plan year, the 
                        first segment rate with respect to the 
                        applicable month,

           *       *       *       *       *       *       *

                  (C) Segment rates.--For purposes of this 
                paragraph--
                          (i) * * *

           *       *       *       *       *       *       *

                          (iv) Segment rate stabilization.--
                                  (I) * * *
                                  (II) Applicable minimum 
                                percentage; applicable maximum 
                                percentage.--For purposes of 
                                subclause (I), the applicable 
                                minimum percentage and the 
                                applicable maximum percentage 
                                for a plan year beginning in a 
                                calendar year shall be 
                                determined in accordance with 
                                the following table:


------------------------------------------------------------------------
                                                    The          The
                                                 applicable   applicable
           [If the calendar year is:              minimum      maximum
                                                 percentage   percentage
                                                    is:          is:
------------------------------------------------------------------------
[2012.........................................          90%         110%
2013..........................................          85%         115%
2014..........................................          80%         120%
2015..........................................          75%         125%
After 2015....................................          70%       130%.]
------------------------------------------------------------------------




----------------------------------------------------------------------------------------------------------------
                                            The applicable minimum
       If the calendar year is:                 percentage is:           The applicable maximum percentage is:
----------------------------------------------------------------------------------------------------------------
2012, 2013, 2014, 2015, 2016, or 2017.  90%..........................  110%
2018..................................  85%..........................  115%
2019..................................  80%..........................  120%
2020..................................  75%..........................  125%
After 2020............................  70%..........................  130%
----------------------------------------------------------------------------------------------------------------

                                                                       

           *       *       *       *       *       *       *
                              ----------                              


         CONSOLIDATED OMNIBUS BUDGET RECONCILIATION ACT OF 1985



           *       *       *       *       *       *       *
SEC. 13031. FEES FOR CERTAIN CUSTOMS SERVICES.

  (a) * * *

           *       *       *       *       *       *       *

  (j) Effective Dates.--(1) * * *

           *       *       *       *       *       *       *

  (3)(A) Fees may not be charged under paragraphs (9) and (10) 
of subsection (a) after [September 30, 2023] September 30, 
2024.
  (B)(i) Subject to clause (ii), Fees may not be charged under 
paragraphs (1) through (8) of subsection (a) after [September 
30, 2023] September 30, 2024.

           *       *       *       *       *       *       *


                         VII. ADDITIONAL VIEWS

    There is no disagreement that the Committee on Ways and 
Means must not allow the financing of our nation's 
transportation and infrastructure programs to lapse. That 
notion was clearly evidenced by the Committee's support, by 
voice vote, to ensure that projects already underway would be 
funded, and projects to be scheduled in the short term would 
not be canceled.
    What was missing was Republican support for a better 
alternative. Representative Earl Blumenauer offered an 
amendment at the markup that would place pressure on the 
Committee and the House, by the end of this Congress, to enact 
a long-term transportation authorization, through at least 
2020. The amendment provided adequate funding to the Highway 
Trust Fund (``Trust Fund'') to ensure continued long-term 
financing of our nation's surface transportation projects, and 
the proposal enjoyed the unanimous support of Committee 
Democrats. Consistent with their prior performance, Ways and 
Means Republicans unanimously rejected the notion that the 
Committee should commit to such a policy that offers certainty 
and stability, not to mention ensuring years of good-paying 
jobs.
    However, when the Committee focuses on enacting short-term 
fixes, the momentum and drive behind enacting long-term 
policies run out of gas. In the last three-plus years, the 
Republican majority on this prestigious panel has failed to 
take advantage of its potential influence and responsibility to 
adequately fund the Trust Fund over the long term. In fact, 
this Committee has not held a single hearing on financing 
options for the Trust Fund since House Republicans assumed the 
majority, despite Democrats urging otherwise.
    Six months ago, every Democrat on this committee requested 
that the Chairman hold a series of hearings on financing 
options. ``Time is of the essence,'' we wrote in that January 
letter. Democrats repeated this request less than a month ago--
still, no hearing.
    Our infrastructure, once a point of pride around the world, 
is literally falling apart. The American Society of Civil 
Engineers gave our country's roads an overall grade of D in its 
2013 report card. More and more of our nation's bridges are 
becoming structurally unsound. The Congressional Budget Office 
estimates that, in its current form, the Trust Fund will 
experience a shortfall of $120 billion over the next 10 years. 
Federal inaction and short-term extensions create uncertainty 
at the state and local level, and hinder needed transportation 
investments.
    Americans deserve better. They deserve a long-term solution 
from this Congress that provides certainty for states and local 
communities and construction workers alike, and that addresses 
our nation's overwhelming infrastructure needs.
    We must acknowledge that our nation's transportation 
infrastructure requires reliable and sustainable funding. 
Funding the Trust Fund through the end of the year will 
continue the pressure on this Congress to reach that critical 
long-term solution.
    Finally, given that the majority's legislation is using the 
same offsets used to pay for the bipartisan Senate-passed 
unemployment insurance extension and since Speaker Boehner has 
demanded that any action on this issue be attached to a jobs 
bill, House Republicans should take this opportunity to finally 
extend assistance to America's job seekers. In the more than 
six months since Republicans first blocked an extension of 
unemployment insurance, more than three million Americans have 
been cut off benefits--hurting both families and our economy.
                                   Sander M. Levin,
                                           Ranking Member.
                                   Earl Blumenauer.