26 U.S.C. § 9602 — Management of Trust Funds

Page 4156 TITLE 26—INTERNAL REVENUE CODE § 9601 Secretary of Health and Human Services shall distribute— (i) 80 percent to the Office of Commu- nication and Knowledge Transfer of the Agency for Healthcare Research and Qual- ity (or any other relevant office designated by Agency for Healthcare Research and Quality) to carry out the activities de- scribed in section 937 of the Public Health Service Act; and (ii) 20 percent to the Secretary to carry out the activities described in such section 937. (e) Net revenues For purposes of this section, the term ‘‘net revenues’’ means the amount estimated by the Secretary of the Treasury based on the excess of— (1) the fees received in the Treasury under subchapter B of chapter 34, over (2) the decrease in the tax imposed by chap- ter 1 resulting from the fees imposed by such subchapter. (f) Termination No amounts shall be available for expenditure from the PCORTF after September 30, 2029, and any amounts in such Trust Fund after such date shall be transferred to the general fund of the Treasury. (Added Pub. L. 111–148, title VI, § 6301(e)(1)(A), Mar. 23, 2010, 124 Stat. 742; amended Pub. L. 116–59, div. B, title IV, § 1403, Sept. 27, 2019, 133 Stat. 1107; Pub. L. 116–69, div. B, title IV, § 1403, Nov. 21, 2019, 133 Stat. 1139; Pub. L. 116–94, div. N, title I, § 104(a), Dec. 20, 2019, 133 Stat. 3097.) Editorial Notes REFERENCES IN TEXT The Social Security Act, referred to in subsecs. (b)(2) and (d)(1), is act Aug. 14, 1935, ch. 531, 49 Stat. 620. Part D of title XI of the Act is classified generally to part D (§ 1320e et seq.) of subchapter XI of chapter 7 of Title 42, The Public Health and Welfare. Sections 1181(b) and 1183 of the Act are classified to sections 1320e(b) and 1320e–2, respectively, of Title 42. For complete classi- fication of this Act to the Code, see section 1305 of Title 42 and Tables. The date of enactment of such Act, referred to in sub- sec. (d)(1), probably means the date of enactment of Pub. L. 111–148, which enacted part D of title XI of the Social Security Act and was approved Mar. 23, 2010. Section 937 of the Public Health Service Act, referred to in subsec. (d)(2)(A), (C), is classified to section 299b–37 of Title 42, The Public Health and Welfare. PRIOR PROVISIONS A prior section 9511, added Pub. L. 102–240, title VIII, § 8003(a), Dec. 18, 1991, 105 Stat. 2205; amended Pub. L. 105–130, § 9(c), Dec. 1, 1997, 111 Stat. 2561, related to Na- tional Recreational Trails Trust Fund, prior to repeal by Pub. L. 105–178, title IX, § 9011(a), June 9, 1998, 112 Stat. 508. AMENDMENTS 2019—Subsec. (b)(1). Pub. L. 116–94, § 104(a)(1)(A)(ii), substituted ‘‘(E)(ii), and (F)(ii)’’ for ‘‘and (E)(ii)’’ in concluding provisions. Subsec. (b)(1)(F). Pub. L. 116–94, § 104(a)(1)(A)(i), added subpar. (F). Subsec. (b)(4). Pub. L. 116–94, § 104(a)(1)(B), added par. (4). Subsec. (d)(2)(A). Pub. L. 116–94, § 104(a)(2), sub- stituted ‘‘2029’’ for ‘‘2019’’. Subsec. (f). Pub. L. 116–94, § 104(a)(3), substituted ‘‘September 30, 2029’’ for ‘‘December 20, 2019’’. Pub. L. 116–69 substituted ‘‘December 20’’ for ‘‘Novem- ber 21’’. Pub. L. 116–59 substituted ‘‘November 21’’ for ‘‘Sep- tember 30’’. Subchapter B—General Provisions Sec. 9601. Transfer of amounts. 9602. Management of Trust Funds. § 9601. Transfer of amounts The amounts appropriated by any section of subchapter A to any Trust Fund established by such subchapter shall be transferred at least monthly from the general fund of the Treasury to such Trust Fund on the basis of estimates made by the Secretary of the Treasury of the amounts referred to in such section. Proper ad- justments shall be made in the amounts subse- quently transferred to the extent prior esti- mates were in excess of or less than the amounts required to be transferred. (Added Pub. L. 97–119, title I, § 103(a), Dec. 29, 1981, 95 Stat. 1638.) § 9602. Management of Trust Funds (a) Report It shall be the duty of the Secretary of the Treasury to hold each Trust Fund established by subchapter A, and (after consultation with any other trustees of the Trust Fund) to report to the Congress each year on the financial condi- tion and the results of the operations of each such Trust Fund during the preceding fiscal year and on its expected condition and oper- ations during the next 5 fiscal years. Such re- port shall be printed as a House document of the session of the Congress to which the report is made. (b) Investment (1) In general It shall be the duty of the Secretary of the Treasury to invest such portion of any Trust Fund established by subchapter A as is not, in his judgment, required to meet current with- drawals. Such investments may be made only in interest-bearing obligations of the United States. For such purpose, such obligations may be acquired— (A) on original issue at the issue price, or (B) by purchase of outstanding obligations at the market price. (2) Sale of obligations Any obligation acquired by a Trust Fund es- tablished by subchapter A may be sold by the Secretary of the Treasury at the market price. (3) Interest on certain proceeds The interest on, and the proceeds from the sale or redemption of, any obligations held in a Trust Fund established by subchapter A shall be credited to and form a part of the Trust Fund. (Added Pub. L. 97–119, title I, § 103(a), Dec. 29, 1981, 95 Stat. 1638.) Page 4157 TITLE 26—INTERNAL REVENUE CODE § 9701 1 Section numbers editorially supplied. Subtitle J—Coal Industry Health Benefits Chapter Sec.1 99. Coal industry health benefits ................ 9701 CHAPTER 99—COAL INDUSTRY HEALTH BENEFITS Subchapter Sec.1 A. Definitions of general applicability ...... 9701 B. Combined benefit fund ........................... 9702 C. Health benefits of certain miners .......... 9711 D. Other provisions .................................... 9721 Subchapter A—Definitions of General Applicability Sec. 9701. Definitions of general applicability. § 9701. Definitions of general applicability (a) Plans and funds For purposes of this chapter— (1) UMWA Benefit Plan (A) In general The term ‘‘UMWA Benefit Plan’’ means a plan— (i) which is described in section 404(c), or a continuation thereof; and (ii) which provides health benefits to re- tirees and beneficiaries of the industry which maintained the 1950 UMWA Pension Plan. (B) 1950 UMWA Benefit Plan The term ‘‘1950 UMWA Benefit Plan’’ means a UMWA Benefit Plan, participation in which is substantially limited to individ- uals who retired before 1976. (C) 1974 UMWA Benefit Plan The term ‘‘1974 UMWA Benefit Plan’’ means a UMWA Benefit Plan, participation in which is substantially limited to individ- uals who retired on or after January 1, 1976. (2) 1950 UMWA Pension Plan The term ‘‘1950 UMWA Pension Plan’’ means a pension plan described in section 404(c) (or a continuation thereof), participation in which is substantially limited to individuals who re- tired before 1976. (3) 1974 UMWA Pension Plan The term ‘‘1974 UMWA Pension Plan’’ means a pension plan described in section 404(c) (or a continuation thereof), participation in which is substantially limited to individuals who re- tired in 1976 and thereafter. (4) 1992 UMWA Benefit Plan The term ‘‘1992 UMWA Benefit Plan’’ means the plan referred to in section 9712. (5) Combined Fund The term ‘‘Combined Fund’’ means the United Mine Workers of America Combined Benefit Fund established under section 9702. (b) Agreements For purposes of this section— (1) Coal wage agreement The term ‘‘coal wage agreement’’ means— (A) the National Bituminous Coal Wage Agreement, or (B) any other agreement entered into be- tween an employer in the coal industry and the United Mine Workers of America that required or requires one or both of the fol- lowing: (i) the provision of health benefits to re- tirees of such employer, eligibility for which is based on years of service credited under a plan established by the settlors and described in section 404(c) or a con- tinuation of such plan; or (ii) contributions to the 1950 UMWA Ben- efit Plan or the 1974 UMWA Benefit Plan, or any predecessor thereof. (2) Settlors The term ‘‘settlors’’ means the United Mine Workers of America and the Bituminous Coal Operators’ Association, Inc. (referred to in this chapter as the ‘‘BCOA’’). (3) National Bituminous Coal Wage Agreement The term ‘‘National Bituminous Coal Wage Agreement’’ means a collective bargaining agreement negotiated by the BCOA and the United Mine Workers of America. (c) Terms relating to operators For purposes of this section— (1) Signatory operator The term ‘‘signatory operator’’ means a per- son which is or was a signatory to a coal wage agreement. (2) Related persons (A) In general A person shall be considered to be a re- lated person to a signatory operator if that person is— (i) a member of the controlled group of corporations (within the meaning of sec- tion 52(a)) which includes such signatory operator; (ii) a trade or business which is under common control (as determined under sec- tion 52(b)) with such signatory operator; or (iii) any other person who is identified as having a partnership interest or joint ven- ture with a signatory operator in a busi- ness within the coal industry, but only if such business employed eligible bene- ficiaries, except that this clause shall not apply to a person whose only interest is as a limited partner. A related person shall also include a suc- cessor in interest of any person described in clause (i), (ii), or (iii). (B) Time for determination The relationships described in clauses (i), (ii), and (iii) of subparagraph (A) shall be de- termined as of July 20, 1992, except that if, on July 20, 1992, a signatory operator is no longer in business, the relationships shall be determined as of the time immediately be- fore such operator ceased to be in business. (3) 1988 agreement operator The term ‘‘1988 agreement operator’’ means—