Page:United States Statutes at Large Volume 94 Part 1.djvu/1350

 94 STAT. 1300 Ante, p. 1271. Ante, p. 1249.

PUBLIC LAW 96-364—SEPT. 26, 1980

regulation authorized by subpart C of part I of subchapter D of chapter 1 of the Internal Revenue Code of 1954, or by sections 4241 through 4245 of this Act, before publishing any such proposed or final regulation.". SEC. 403. CONFORMING AMENDMENTS.

29 USC 1305.

29 USC 1322. Ante, p. 1210.

29 USC 1307.

(a) Section 4005 is amended— (1) by striking out the second sentence of subsection (a) and inserting in lieu thereof the following: "One of the funds shall be used with respect to basic benefits guaranteed under section 4022, one of the funds shall be used with respect to basic benefits guaranteed under section 4022A, one of the funds shall be used with respect to nonbasic benefits guaranteed under section 4022 (if any), and the remaining fund shall be used with respect to nonbasic benefits guaranteed under section 4022A (if any), other than subsection (g)(2) thereof (if any)."; (2) in subsection (b)(2)(A\ by inserting "or 4022A" after "4022"; (3) by striking out subparagraph (B) of subsection (b)(2) and redesignating subparagraphs (C), (D), and (E) as subparagraphs (B), (C), and (D), respectively; and (4) by adding at the end thereof the following new subsections: "(d)(1) A fifth fund shall be established for the reimbursement of uncollectible withdrawal liability under section 4222, and shall be credited with the appropriate— "(A) premiums, penalties, and interest charges collected under this title, and "(B) earnings on investments of the fund or on assets credited to the fund. The fund shall be available to make payments pursuant to the supplemental program established under section 4222, including those expenses and other charges determined to be appropriate by the corporation. "(2) The corporation may invest amounts of the fund in such obligations as the corporation considers appropriate. "(e)(1) A sixth fund shall be established for the supplemental benefit guarantee program provided under section 4022A(g)(2). "(2) Such fund shall be credited with the appropriate— "(A) premiums, penalties, and interest charges collected under section 4022A(g)(2), and "(B) earnings on investments of the fund or on assets credited to the fund. The fund shall be available for making payments pursuant to the supplemental benefit guarantee program established under section 4022A(g)(2), including those expenses and other charges determined to be appropriate by the corporation. "(3) The corporation may invest amounts of the fund in such obligations as the corporation considers appropriate. "(fKD Amounts in any fund established under this section may be used only for the purposes for which such fund was established and may not be used to make loans to (or on behalf of) any other fund or to finance any other activity of the corporation. "(2) None of the funds borrowed under subsection (c) may be used to make loans to (or on behalf of) any fund other than a fund described in the second sentence of subsection (a). "(3) Any repayment to the corporation of any amount paid out of any fund in connection with a multiemployer plan shall be deposited in such fund.". (b) Section 4007(a) is amended by striking out the second sentence.

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