Page:United States Statutes at Large Volume 120.djvu/3055

 120 STAT. 3024

26 USC 9704.

VerDate 14-DEC-2004

09:16 Jul 13, 2007

Jkt 059194

PUBLIC LAW 109–432—DEC. 20, 2006 (B) by striking paragraph (2) and inserting the following new paragraph: ‘‘(2) USE OF FUNDS.—Any amount transferred under paragraph (1) for any fiscal year shall be used to pay benefits and administrative costs of beneficiaries of the Combined Fund or for such other purposes as are specifically provided in the Acts described in paragraph (1).’’; and (C) by striking ‘‘FROM ABANDONED MINE RECLAMATION FUND’’ in the heading thereof. (2) MODIFICATIONS OF PREMIUMS TO REFLECT FEDERAL TRANSFERS.— (A) ELIMINATION OF UNASSIGNED BENEFICIARIES PREMIUM.—Section 9704(d) of such Code (establishing unassigned beneficiaries premium) is amended to read as follows: ‘‘(d) UNASSIGNED BENEFICIARIES PREMIUM.— ‘‘(1) PLAN YEARS ENDING ON OR BEFORE SEPTEMBER 30, 2006.—For plan years ending on or before September 30, 2006, the unassigned beneficiaries premium for any assigned operator shall be equal to the applicable percentage of the product of the per beneficiary premium for the plan year multiplied by the number of eligible beneficiaries who are not assigned under section 9706 to any person for such plan year. ‘‘(2) PLAN YEARS BEGINNING ON OR AFTER OCTOBER 1, 2006.— ‘‘(A) IN GENERAL.—For plan years beginning on or after October 1, 2006, subject to subparagraph (B), there shall be no unassigned beneficiaries premium, and benefit costs with respect to eligible beneficiaries who are not assigned under section 9706 to any person for any such plan year shall be paid from amounts transferred under section 9705(b). ‘‘(B) INADEQUATE TRANSFERS.—If, for any plan year beginning on or after October 1, 2006, the amounts transferred under section 9705(b) are less than the amounts required to be transferred to the Combined Fund under subsection (h)(2)(A) or (i) of section 402 of the Surface Mining Control and Reclamation Act of 1977 (30 U.S.C. 1232)), then the unassigned beneficiaries premium for any assigned operator shall be equal to the operator’s applicable percentage of the amount required to be so transferred which was not so transferred.’’. (B) PREMIUM ACCOUNTS.— (i) CREDITING OF ACCOUNTS.—Section 9704(e)(1) of such Code (relating to premium accounts; adjustments) is amended by inserting ‘‘and amounts transferred under section 9705(b)’’ after ‘‘premiums received’’. (ii) SURPLUSES ATTRIBUTABLE TO PUBLIC FUNDING.—Section 9704(e)(3)(A) of such Code is amended by adding at the end the following new sentence: ‘‘Amounts credited to an account from amounts transferred under section 9705(b) shall not be taken into account in determining whether there is a surplus in the account for purposes of this paragraph.’’. (C) APPLICABLE PERCENTAGE.—Section 9704(f)(2) of such Code (relating to annual adjustments) is amended by adding at the end the following new subparagraph:

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