
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC9705]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                Subtitle J--Coal Industry Health Benefits
 
                CHAPTER 99--COAL INDUSTRY HEALTH BENEFITS
 
                   Subchapter B--Combined Benefit Fund
 
                           PART II--FINANCING
 
Sec. 9705. Transfers


(a) Transfer of assets from 1950 UMWA Pension Plan

                           (1) In general

        From the funds reserved under paragraph (2), the board of 
    trustees of the 1950 UMWA Pension Plan shall transfer to the 
    Combined Fund--
            (A) $70,000,000 on February 1, 1993,
            (B) $70,000,000 on October 1, 1993, and
            (C) $70,000,000 on October 1, 1994.

                           (2) Reservation

        Immediately upon the enactment date, the board of trustees of 
    the 1950 UMWA Pension Plan shall segregate $210,000,000 from the 
    general assets of the plan. Such funds shall be held in the plan 
    until disbursed pursuant to paragraph (1). Any interest on such 
    funds shall be deposited into the general assets of the 1950 UMWA 
    Pension Plan.

                          (3) Use of funds

        Amounts transferred to the Combined Fund under paragraph (1) 
    shall--
            (A) in the case of the transfer on February 1, 1993, be used 
        to proportionately reduce the premium of each assigned operator 
        under section 9704(a) for the plan year of the Fund beginning 
        February 1, 1993, and
            (B) in the case of any other such transfer, be used to 
        proportionately reduce the unassigned beneficiary premium under 
        section 9704(a)(3) and the death benefit premium under section 
        9704(a)(2) of each assigned operator for the plan year in which 
        transferred and for any subsequent plan year in which such funds 
        remain available.

    Such funds may not be used to pay any amounts required to be paid by 
    the 1988 agreement operators under section 9704(i)(1)(B).

               (4) Tax treatment; validity of transfer

        (A) No deduction

            No deduction shall be allowed under this title with respect 
        to any transfer pursuant to paragraph (1), but such transfer 
        shall not adversely affect the deductibility (under applicable 
        provisions of this title) of contributions previously made by 
        employers, or amounts hereafter contributed by employers, to the 
        1950 UMWA Pension Plan, the 1950 UMWA Benefit Plan, the 1974 
        UMWA Pension Plan, the 1974 UMWA Benefit Plan, the 1992 UMWA 
        Benefit Plan, or the Combined Fund.

        (B) Other tax provisions

            Any transfer pursuant to paragraph (1)--
                (i) shall not be treated as an employer reversion from a 
            qualified plan for purposes of section 4980, and
                (ii) shall not be includible in the gross income of any 
            employer maintaining the 1950 UMWA Pension Plan.

                      (5) Treatment of transfer

        Any transfer pursuant to paragraph (1) shall not be deemed to 
    violate, or to be prohibited by, any provision of law, or to cause 
    the settlors, joint board of trustees, employers or any related 
    person to incur or be subject to liability, taxes, fines, or 
    penalties of any kind whatsoever.

(b) Transfers from abandoned mine reclamation fund

                           (1) In general

        The Combined Fund shall include any amount transferred to the 
    Fund under section 402(h) of the Surface Mining Control and 
    Reclamation Act of 1977 (30 U.S.C. 1232(h)).

                          (2) Use of funds

        Any amount transferred under paragraph (1) for any fiscal year 
    shall be used to proportionately reduce the unassigned beneficiary 
    premium under section 9704(a)(3) of each assigned operator for the 
    plan year in which transferred.

(Added Pub. L. 102-486, title XIX, Sec. 19143(a), Oct. 24, 1992, 106 
Stat. 3046.)

                  Section Referred to in Other Sections

    This section is referred to in sections 9703, 9704 of this title.
