,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #bacd  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,may #bc1 #bjac ,mrs4 
,brooks ( ,indiana 7= h]self & ,mr4     
,k9d7 introduc$ ! foll[+ bill2 :i* 0    
ref]r$ to ! ,committee on ,education & !
 ,work=ce1 & 9 addition to ! ,committee 
on ,ways & ,means1 = a p]iod to be      
subsequ5tly det]m9$ by ! ,speak]1 9 ea* 
case = consid]ation ( su* provisions z  
fall )9 ! jurisdiction ( ! committee    
conc]n$  ,a ,,bill  ,to provide an      
election = fund+ p>ity = *>ity-sponsor$ 
p5sion plans4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,*>itable ,p5sion      
,flexibility ,act ( #bjac4  #b4         
,election to cease to be treat$ z an    
eligible *>ity plan  7a7 ,9 g5]al       
,subsection 7d7 ( section #ajd ( !      
,p5sion ,protection ,act ( #bjjf1 z add$
 by section #bjb ( ! ,pres]vation (     
,access to ,c>e = ,m$ic>e ,b5efici>ies &
 ,p5sion ,relief ,act ( #bjaj1 is am5d$ 
by--  7#a7 /rik+ ,= purposes ( & ins]t+ 
7#a7 ,9 g5]al4--,= purposes (1 &  7#b7  

add+ at ! end ! foll[+3  7#b7 ,election 
n to be an eligible *>ity plan ,a plan  
sponsor may elect = a plan to cease to  
be treat$ z an eligible *>ity plan =    
plan ye>s beg9n+ aft] ,decemb] #ca1     
#bjac4 ,su* election %all be made at su*
 "t & 9 su* =m & mann] z %all be        
prescrib$ by ! ,secret>y ( ! ,treasury4 
,any su* election may be revok$ only ) !
 cons5t ( ! ,secret>y ( ! ,treasury4    
7#c7 ,election to use fund+ options     
available to o!r plan sponsors  7,a7 ,9 
g5]al ,a plan sponsor t makes ! election
 describ$ 9 p>agraph 7#b7 may also elect
 = a plan to apply ! rules describ$ 9   
subp>agraphs 7,b71 7,c71 & 7,d7 = plan  
ye>s beg9n+ aft] ,decemb] #ca1 #bjac4   
,su* election %all be made at su* "t & 9
 su* =m & mann] z %all be prescrib$ by !
 ,secret>y ( ! ,treasury4 ,any su*      
election may be revok$ only ) ! cons5t (
 ! ,secret>y ( ! ,treasury4  7,b7       
,applicable %ortfall amortization bases 
,"u ! rules describ$ 9 ?is subp>agraph1 
= ! fir/ plan ye> beg9n+ aft] ,decemb]  

#ca1 #bjac1 a plan has--  7i7 an #aa-ye>
 %ortfall amortization base1  7ii7 a    
#ab-ye> %ortfall amortization base1 &   
7iii7 a #g-ye> %ortfall amortization    
base4  7,c7 ,det]m9ation ( in/allm5ts   
,"u ! rules describ$ 9 ?is subp>agraph1 
section #dcj7;c77#b77;,a7 & 7,b7 ( !    
,int]nal ,rev5ue ,code ( #aihf & section
 #cjc7;c77#b77;,a7 & 7,b7 ( ! ,employee 
,retirem5t ,income ,security ,act (     
#aigd %all be appli$--  7i7 9 ! case (  
an #aa-ye> %ortfall amortization base1  
by sub/itut+ #aa-plan-ye> p]iod =       
#g-plan-ye> p]iod :]ev] x appe>s1 &     
7ii7 9 ! case a #ab-ye> %ortfall        
amortization base1 by sub/itut+         
#ab-plan-ye> p]iod = #g-plan-ye> p]iod  
:]ev] x appe>s4  7,d7 ,alt]nate requir$ 
in/allm5ts ,"u ! rules describ$ 9 ?is   
subp>agraph1 section #dcj7;c77#g7 ( !   
,int]nal ,rev5ue ,code ( #aihf & section
 #cjc7;c77#g7 ( ! ,employee ,retirem5t  
,income ,security ,act ( #aigd %all     
apply to a plan = :i* an election has   
be5 made "u subp>agraph 7,a74 ,su*      

provisions %all apply 9 ! foll[+ mann]3 
7i7 ,! fir/ plan ye> beg9n+ aft]        
,decemb] #ca1 #bjac1 %all be treat$ z an
 election ye>1 & no o!r plan ye>s %all  
be s treat$4  7ii7 ,all ref]5ces 9      
section #dcj7;c77#g7 ( su* ,code & 9    
section #cjc7;c77#g7 ( su* ,act to      
,febru>y #bh1 #bjaj or ,m>* #a1 #bjaj   
%all be treat$ z ref]5ces to ,febru>y   
#bh1 #bjac or ,m>* #a1 #bjac1           
respectively4  7,e7 #aa-ye> %ortfall    
amortization base ,= purposes ( ?is     
p>agraph1 ! #aa-ye> %ortfall            
amortization base is an am\nt1 det]m9$ =
 ! fir/ plan ye> beg9n+ aft] ,decemb]   
#ca1 #bjac1 equal to ! unamortiz$       
pr9cipal am\nt ( ! %ortfall amortization
 base 7z def9$ 9 section #dcj7;c77#c7 ( 
! ,int]nal ,rev5ue ,code ( #aihf &      
section #cjc7;c77#c7 ( ! ,employee      
,retirem5t ,income ,security ,act (     
#aigd7 t w\ld h appli$ to ! plan = !    
fir/ plan ye> beg9n+ aft] ,decemb] #ca1 
#bjji1 if--  7i7 ! plan _h nev] be5 an  
eligible *>ity plan4  7ii7 ! plan       

sponsor _h made ! election describ$ 9   
section #dcj7;c77#b77;,d77i7 ( !        
,int]nal ,rev5ue ,code ( #aihf & 9      
section #cjc7;c77#b77;,d77i7 ( !        
,employee ,retirem5t ,income ,security  
,act ( #aigd to h section               
#dcj7;c77#b77;,d77iii7 ( su* ,code &    
section #cjc7;c77#b77;,d77iii7 ( su*    
,act apply ) respect to ! %ortfall      
amortization base = ! fir/ plan ye>     
beg9n+ aft] ,decemb] #ca1 #bjji1 &      
7iii7 no ev5t _h occurr$ "u p>agraph    
7#f7 or 7#g7 ( section #dcj7;c7 ( su*   
,code or p>agraph 7#f7 or 7#g7 ( section
 #cjc7;c7 ( su* ,act t1 z ( ! fir/ day (
 ! fir/ plan ye> beg9n+ aft] ,decemb]   
#ca1 #bjac1 w\ld h modifi$ ! %ortfall   
amortization base or ! %ortfall         
amortization in/allm5ts ) respect to !  
fir/ plan ye> beg9n+ aft] ,decemb] #ca1 
#bjji4  7,f7 #ab-ye> %ortfall           
amortization base ,= purposes ( ?is     
p>agraph1 ! #ab-ye> %ortfall            
amortization base is an am\nt1 det]m9$ =
 ! fir/ plan ye> beg9n+ aft] ,decemb]   

#ca1 #bjac1 equal to ! unamortiz$       
pr9cipal am\nt ( ! %ortfall amortization
 base 7z def9$ 9 section #dcj7;c77#c7 ( 
! ,int]nal ,rev5ue ,code ( #aihf &      
section #cjc7;c77#c7 ( ! ,employee      
,retirem5t ,income ,security ,act (     
#aigd7 t w\ld h appli$ to ! plan = !    
fir/ plan beg9n+ aft] ,decemb] #ca1     
#bjaj1 if--  7i7 ! plan _h nev] be5 an  
eligible *>ity plan1  7ii7 ! plan       
sponsor _h made ! election describ$ 9   
section #dcj7;c77#b77;,d77i7 ( !        
,int]nal ,rev5ue ,code ( #aihf & 9      
section #cjc7;c77#b77;,d77i7 ( !        
,employee ,retirem5t ,income ,security  
,act ( #aigd to h section               
#dcj7;c77#b77;,d77iii7 ( su* ,code &    
section #cjc7;c77#b77;,d77iii7 ( su*    
,act apply ) respect to ! %ortfall      
amortization base = ! fir/ plan ye>     
beg9n+ aft] ,decemb] #ca1 #bjaj1 &      
7iii7 no ev5t _h occurr$ "u p>agraph    
7#f7 or 7#g7 ( section #dcj7;c7 ( su*   
,code or p>agraph 7#f7 or 7#g7 ( section
 #cjc7;c7 ( su* ,act t1 z ( ! fir/ day (

 ! fir/ plan ye> beg9n+ aft] ,decemb]   
#ca1 #bjac1 w\ld h modifi$ ! %ortfall   
amortization base or ! %ortfall         
amortization in/allm5ts ) respect to !  
fir/ plan ye> beg9n+ aft] ,decemb] #ca1 
#bjaj4  7,g7 #g-ye> %ortfall            
amortization base ,= purposes ( ?is     
p>agraph1 ! #g-ye> %ortfall amortization
 base is an am\nt1 det]m9$ = ! fir/ plan
 ye> beg9n+ aft] ,decemb] #ca1 #bjac1   
equal to--  7i7 ! %ortfall amortization 
base = ! fir/ plan ye> beg9n+ aft]      
,decemb] #ca1 #bjac1 )\t reg>d to ?is   
p>agraph1 m9us  7ii7 ! sum ( ! #aa-ye>  
%ortfall amortization base & ! #ab-ye>  
%ortfall amortization base4  4  7b7     
,effective date ,! am5dm5ts made by ?is 
section %all take effect on ! date ( !  
enactm5t ( ?is ,act4