,i  #aaeth ,,congress  #ast ,session    
,h4 ,r4 #chib  ,,in ,,the ,,house ,,of  
,,representatives  ,september #bh1      
#bjag,mrs4 ,walorski 7for herself and   
,mr4 ,carson of ,indiana7 introduced the
 following bill2 which was referred to  
the ,committee on ,ways and ,means  ,a  
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to provide an exception 
for certain spun-off voluntary          
employees' beneficiary associations to  
the limitation on the exemption from tax
 on unrelated business taxable income of
 amounts set aside for qualified        
benefits4  #a4 ,exception from tax on   
unrelated business taxable income for   
certain spun-off voluntary employees'   
beneficiary associations  7a7 ,in       
general ,section #eab7;a77#c77;,e7 of   
the ,internal ,revenue ,code of #aihf is
 amended by adding at the end the       
following new clause3  7iv7 ,certain    
spun-off voluntary employees'           
beneficiary associations ,this          
subparagraph shall not apply to any     

voluntary employees' beneficiary        
association described in section        
#eja7;c77#i7 for any taxable year if--  
7,i7 such organization was originally   
established before the date of the      
enactment of this clause by an employer 
to provide benefits described in section
 #eja7;c77#i7 for eligible employees and
 retirees and their dependents and      
beneficiaries1  7,,ii7 the only benefits
 provided by such organization are      
post-retirement medical and life        
benefits1  7,,iii7 such employer has    
7before the beginning of such taxable   
year7 delegated all authority and       
responsibility with respect to such     
organization to one or more independent 
persons who do not have an employment   
relationship with the members entitled  
to benefits from such organization1     
7,,iv7 no member entitled to benefits   
from such organization is entitled to   
benefits from any other organization    
described in section #eja7;c77#i7 as a  
result of employment with such employer1

 and  7,v7 such employer1 as of the     
close of such taxable year1 has no      
obligation to make any contribution to  
such organization and has not made a    
contribution to such organization at any
 time during the #aa-taxable-year period
 ending with such taxable year4  4  7b7 
,effective date ,the amendment made by  
this section shall apply to taxable     
years beginning after ,december #ca1    
#bjag4