Page:United States Statutes at Large Volume 88 Part 1.djvu/1056

 1012

Regulations.

res^sT*^'\°c^o^." mittees.

"Resolution."

PUBLIC LAW 93-406-SEPT. 2, 1974

[88 STAT.

The rate for the additional charge referred to in clause (ii) shall be set by the corporation for every year at a level (determined separately for multiemployer plans and for plans which are not multiemployer plans) which the corporation estimates will jdeld total revenue approximately equal to the total revenue to be derived by the corporation from the premiums referred to in clause (i) of this subparagraph, (B) The corporation may establish annual premiums based on— (i) the number of participants in a plan, but such premium rates shall not exceed the rates described in paragraph (3), (ii) unfunded basic benefits guaranteed under this title, but such premium rates shall not exceed the limitations applicable under subparagraph (A)(i), or (iii) total guaranteed basic benefits, but such premium rates may not exceed the rates determined under subparagraph (A) ( i i). If the corporation uses 2 or more of the rate bases described in this subparagraph, the premium rates shall be designed to pro(hice approximate]y equal amounts of aggregate premium revenue f lom each of the rate bases used. ^('^ -^pj^g corporation shall by regulation define the terms "value of the assets" and "present value of the benefits of the plan which are guaranteed" in a manner consistent with the purposes of this title aud the provisions of this section. (^)(1) ^^^ ordcr to place a revised coverage schedule (other than a schedulc described in subsection (a)(2)(B) or (C) in effect, the corporation shall transmit the proposed schedule, its proposed effective date, and the reasons for its proposal to the Committee on Ways and Means and the Committee on Education and Labor of the House ol' Representatives, and to the Committee on Finance and the Committee on Labor and Public Welfare of the Senate. (2) The succeeding paragraphs of this subsection are enacted by Congress as an exercise of the rulemaking power of the Senate and the I louse of Representatives, respectively, and as such they shall be deemed a part of the rules of each House, respectively, but applicable only with respect to the procedure to be followed in that House in the case of resolutions described in paragraph (3). They shall supersede other rules only to the extent that they are inconsistent therewith. They are enacted with full recognition of the constitutional right of either House to change the rules (so far as relating to the procedure of that House) at any time, in the same manner and to the same extent as in the case of any rule of that House. (3) jfor the purposc of the succeeding paragraphs of this subsection, "resolution" means only a concurrent resolution, the matter after- the resolving clause of which is as follows: "That the Congress favors the proposed revised coverage schedule transmitted to Congress by the Pension Benefit Guaranty Corporation on .", the blank space therein being filled with the date on which the corporation's message proposing the rate was delivered. (4) A resolution shall be referred to the Committee on Ways anil Means and the Committee on Education and Labor of the House of Representatives and to the Committee on Finance and the Committee on IjaboT- and Public Welfare of the Senate. (6) If a committee to which has been referred a resolution has not reported it before the expiration of 10 calendar days after its introduction, it shall then (but not before) be in order to move to discharge the committee from further consideration of that resolution, or to discharge the committee from further consideration of any other

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