Page:United States Statutes at Large Volume 100 Part 1.djvu/308

 100 STAT. 272

26 USC 6323. Ante, p. 237.

29 USC 1368.

PUBLIC LAW 99-272—APR. 7, 1986

"employer or employers" and inserting in lieu thereof "person"; (iii) in subsection (d)(1), by striking out "employer" and inserting in lieu thereof "liable person"; (iv) in subsection (d)(2), by striking out "employer" each place it appears and inserting in lieu thereof "liable person"; (v) in subsection (e), by striking out "employer or employers" and inserting in lieu thereof "liable person"; and (vi) by striking out subsection (c)(1) (29 U.S.C. 1368(c)(1)) and inserting in lieu thereof the following: "(c)(1) Except as otherwise provided under this section, the priority of a lien imposed under subsection (a) shall be determined in the same manner as under section 6323 of the Internal Revenue Code of 1954 (as in effect on the date of the enactment of the SingleEmployer Pension Plan Amendments Act of 1986). Such section 6323 shall be applied for purposes of this section by disregarding subsection (g)(4) and by substituting— "(A) 'lien imposed by section 4068 of the Employee Retirement Income Security Act of 1974' for 'lien imposed by section 6321' each place it appears in subsections (a), (b), (c)(1), (c)(4)(B), (d), (e), and (h)(5); "(B) 'the corporation' for 'the Secretary' in subsections (a) and (b)(9)(C); "(C) 'the payment of the amount on which the section 4068(a) lien is based' for 'the collection of any tax under this title' in subsection (b)(3); "(D) 'a person whose property is subject to the lien' for 'the taxpayer' in subsections (b)(8), (c)(2)(A)(i) (the first place it appears), (c)(2)(A)(ii), (c)(2)(B), (c)(4)(B), and (c)(4)(C) (in the matter preceding clause (i)); "(E) 'such person' for 'the taxpayer' in subsections (c)(2)(A)(i) (the second place it appears) and (c)(4)(C)(ii); "(F) 'payment of the loan value of the amount on which the lien is based is made to the corporation' for 'satisfaction of a levy pursuant to section 6332(b)' in subsection (b)(9)(C); "(G) 'section 4068(a) lien' for 'tax lien' each place it appears in subsections (c)(1), (c)(2)(A), (c)(2)(B), (c)(3)(B)(iii), (c)(4)(B), (d), and (h)(5); and "(H) 'the date on which the lien is first filed' for 'the date of the assessment of the tax' in subsection (g)(3)(A).". (b) CLARIFICATION OF DESCRIPTION OF CERTAIN INFORMATION REQUIRED To BE FILED IN ANNUAL REPORT.—

(1) IN GENERAL.—Section 103(d)(6) (29 U.S.C. 1023(d)(6)) is amended to read as follows: "(6) Information required in regulations of the Pension Benefit Guaranty Corporation with respect to: "(A) the current value of the assets of the plan, "(B) the present value of all nonforfeitable benefits for participants and beneficiaries receiving payments under the plan, "(C) the present value of all nonforfeitable benefits for all other participants and beneficiaries, "(D) the present value of all accrued benefits which are not nonforfeitable (including a separate accounting of such

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