,i  #aaf? ,,congress  #a/ ,session  ,h4 
,r4 #aiaf  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,m>* #bg1 #bjai ,ms4  
,del,bene 7= h]self1 ,mrs4 ,rodg]s (    
,wa%+ton1 ,mr4 ,smi? ( ,wa%+ton1 & ,mr4 
,ne:\se7 introduc$ ! foll[+ bill2 :i* 0 
ref]r$ to ! ,committee on ,education &  
,labor1 & 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 am5d ! ,int]nal 
,rev5ue ,code ( #aihf & ! ,employee     
,retirem5t ,income ,security ,act (     
#aigd to provide alt]native m9imum fund+
 rules = c]ta9 s+le-employ] plans       
ma9ta9$ by a community newspap]4  #a4   
,%ort title ,?is ,act may be cit$ z !   
,save ,community ,newspap] ,act ( #bjai4
  #b4 ,special rules = m9imum fund+     
/&>ds = community newspap] plans  7a7   
,am5dm5t to ,int]nal ,rev5ue ,code (    
#aihf ,section #dcj ( ! ,int]nal ,rev5ue
 ,code ( #aihf is am5d$ by add+ at ! end

 ! foll[+ new subsection3  7m7 ,special 
rules = community newspap] plans  7#a7  
,9 g5]al ,! plan sponsor ( a community  
newspap] plan "u :i* no p>ticipant has  
_h ! p>ticipant's accru$ b5efit increas$
 7:e!r because ( s]vice or comp5sation7 
aft] ,decemb] #ca1 #bjag1 may elect to h
 ! alt]native /&>ds describ$ 9 p>agraph 
7#c7 apply to su* plan1 & any plan      
sponsor$ by any memb] ( ! same controll$
 gr\p1 = purposes ( ?is section = plan  
ye>s beg9n+ ) any plan ye> 9 effect on  
or beg9n+ aft] ! date ( ! enactm5t ( ?is
 subsection4  7#b7 ,election ,an        
election "u p>agraph 7#a7 %all be made  
at su* "t & 9 su* mann] z prescrib$ by !
 ,secret>y4 ,su* election1 once made )  
respect to a plan ye>1 %all apply to all
 subsequ5t plan ye>s unless revok$ ) !  
cons5t ( ! ,secret>y4  7#c7 ,alt]native 
m9imum fund+ /&>ds ,! alt]native /&>ds  
describ$ 9 ?is p>agraph are ! foll[+3   
7,a7 ,int]e/ rates  7i7 ,9 g5]al        
,not)/&+ subsection 7h77#b77;,c7 &      
except z provid$ 9 clause 7ii71 ! fir/1 

second1 & ?ird segm5t rates 9 effect =  
any mon? = purposes ( ?is section %all  
be #h p]c5t4  7ii7 ,new b5efit accruals 
,not)/&+ subsection 7h77#b71 = purposes 
( det]m9+ ! fund+ t>get & normal co/ ( a
 plan = any plan ye>1 ! pres5t value (  
any b5efits accru$ or e>n$ "u ! plan = a
 plan ye> ) respect to :i* an election  
"u p>agraph 7#a7 is 9 effect %all be    
det]m9$ on ! basis ( ! ,u4,s4 ,treasury 
obligation yield curve = ! day t is !   
valuation date ( su* plan = su* plan    
ye>4  7iii7 ,u4,s4 ,treasury obligation 
yield curve ,= purposes ( ?is           
subsection1 ! t]m ,u4,s4 ,treasury      
obligation yield curve means1 ) respect 
to any day1 a yield curve :i* %all be   
prescrib$ by ! ,secret>y = su* day on   
int]e/-be>+ obligations ( ! ,unit$      
,/ates4  7,b7 ,%ortfall amortization    
base  7i7 ,previ\s %ortfall amortization
 bases ,! %ortfall amortization bases   
det]m9$ "u subsection 7c77#c7 = all plan
 ye>s prec$+ ! fir/ plan ye> to :i* !   
election "u p>agraph 7#a7 applies 7& all

 %ortfall amortization in/allm5ts       
det]m9$ ) respect to su* bases7 %all be 
r$uc$ to z]o "u rules simil> to ! rules 
( subsection 7c77#f74  7ii7 ,new        
%ortfall amortization base ,not)/&+     
subsection 7c77#c71 ! %ortfall          
amortization base = ! fir/ plan ye> to  
:i* ! election "u p>agraph 7#a7 applies 
%all be ! fund+ %ortfall ( su* plan =   
su* plan ye> 7det]m9$ us+ ! int]e/ rates
 z modifi$ "u subp>agraph 7,a774  7,c7  
,det]m9ation ( %ortfall amortization    
in/allm5ts  7i7 #cj-ye> p]iod           
,subp>agraphs 7,a7 & 7,b7 ( subsection  
7c77#b7 %all be appli$ by sub/itut+     
#cj-plan-ye> = #g-plan-ye> ea* place x  
appe>s4  7ii7 ,no special election ,!   
election "u subp>agraph 7,d7 (          
subsection 7c77#b7 %all n apply to any  
plan ye> to :i* ! election "u p>agraph  
7#a7 applies4  7,d7 ,exemption f at-risk
 treatm5t ,subsection 7i7 %all n apply4 
7#d7 ,community newspap] plan ,=        
purposes ( ?is subsection3  7,a7 ,9     
g5]al ,! t]m community newspap] plan    

means a plan to :i* ?is section applies 
ma9ta9$ by an employ] :i*1 z ( ,decemb] 
#ca1 #bjag-- 7i7 publi%es & di/ributes1 
ei!r electronically or 9 pr9t$ =m1 #a or
 m newspap]s1  7ii7 is n a company !    
/ock ( :i* is publicly trad$ 7on a /ock 
ex*ange or 9 an ov]-!-c\nt] m>ket71 & is
 n controll$1 directly or indirectly1 by
 su* a company1 &  7iii7 is controll$1  
directly or indirectly--  7,i7 by #a or 
m p]sons resid+ prim>ily 9 a ,/ate 9 :i*
 ! newspap] is publi%$ or di/ribut$1    
7,,ii7 by a tru/ or tru/s1 #a or m ( :i*
 0 creat$ or organiz$ 9 a ,/ate 9 :i* ! 
newspap] is publi%$ or di/ribut$1 or    
7,,iii7 by a comb9ation ( p]sons        
describ$ 9 subclauses 7,i7 & 7,,ii74    
7,b7 ,control ,a p]son %all be treat$ z 
controll$ by ano!r p]son if su* o!r     
p]son possesses1 directly or indirectly1
 ! p[] to direct or cause ! direction & 
managem5t ( su* p]son 7includ+ ! p[] to 
elect a majority ( ! memb]s ( ! bo>d (  
directors ( su* p]son7 ?r\gh ! own]%ip (
 vot+ securities4  7#e7 ,controll$ gr\p 

,= purposes ( ?is subsection1 ! t]m     
controll$ gr\p means all p]sons treat$ z
 a s+le employ] "u subsection 7b71 7c71 
7m71 or 7o7 ( section #dad z ( ! date ( 
! enactm5t ( ?is subsection4  4  7b7    
,am5dm5t to ,employee ,retirem5t ,income
 ,security ,act ( #aigd ,section #cjc ( 
! ,employee ,retirem5t ,income ,security
 ,act ( #aigd 7#bi ,u4,s4,c4 #ajhc7 is  
am5d$ by add+ at ! end ! foll[+ new     
subsection3  7m7 ,special rules =       
community newspap] plans  7#a7 ,9 g5]al 
,! plan sponsor ( a community newspap]  
plan "u :i* no p>ticipant has _h !      
p>ticipant's accru$ b5efit increas$     
7:e!r because ( s]vice or comp5sation7  
aft] ,decemb] #ca1 #bjag1 may elect to h
 ! alt]native /&>ds describ$ 9 p>agraph 
7#c7 apply to su* plan1 & any plan      
sponsor$ by any memb] ( ! same controll$
 gr\p1 = purposes ( ?is section = plan  
ye>s beg9n+ ) any plan ye> 9 effect on  
or beg9n+ aft] ! date ( ! enactm5t ( ?is
 subsection4  7#b7 ,election ,an        
election "u p>agraph 7#a7 %all be made  

at su* "t & 9 su* mann] z prescrib$ by !
 ,secret>y ( ! ,treasury4 ,su* election1
 once made ) respect to a plan ye>1 %all
 apply to all subsequ5t plan ye>s unless
 revok$ ) ! cons5t ( ! ,secret>y ( !    
,treasury4  7#c7 ,alt]native m9imum     
fund+ /&>ds ,! alt]native /&>ds describ$
 9 ?is p>agraph are ! foll[+3 7,a7      
,int]e/ rates  7i7 ,9 g5]al ,not)/&+    
subsection 7h77#b77;,c7 & except z      
provid$ 9 clause 7ii71 ! fir/1 second1 &
 ?ird segm5t rates 9 effect = any mon? =
 purposes ( ?is section %all be #h      
p]c5t4  7ii7 ,new b5efit accruals       
,not)/&+ subsection 7h77#b71 = purposes 
( det]m9+ ! fund+ t>get & normal co/ ( a
 plan = any plan ye>1 ! pres5t value (  
any b5efits accru$ or e>n$ "u ! plan = a
 plan ye> ) respect to :i* an election  
"u p>agraph 7#a7 is 9 effect %all be    
det]m9$ on ! basis ( ! ,u4,s4 ,treasury 
obligation yield curve = ! day t is !   
valuation date ( su* plan = su* plan    
ye>4  7iii7 ,u4,s4 ,treasury obligation 
yield curve ,= purposes ( ?is           

subsection1 ! t]m ,u4,s4 ,treasury      
obligation yield curve means1 ) respect 
to any day1 a yield curve :i* %all be   
prescrib$ by ! ,secret>y ( ! ,treasury =
 su* day on int]e/-be>+ obligations ( ! 
,unit$ ,/ates4  7,b7 ,%ortfall          
amortization base  7i7 ,previ\s %ortfall
 amortization bases ,! %ortfall         
amortization bases det]m9$ "u subsection
 7c77#c7 = all plan ye>s prec$+ ! fir/  
plan ye> to :i* ! election "u p>agraph  
7#a7 applies 7& all %ortfall            
amortization in/allm5ts det]m9$ )       
respect to su* bases7 %all be r$uc$ to  
z]o "u rules simil> to ! rules (        
subsection 7c77#f74  7ii7 ,new %ortfall 
amortization base ,not)/&+ subsection   
7c77#c71 ! %ortfall amortization base = 
! fir/ plan ye> to :i* ! election "u    
p>agraph 7#a7 applies %all be ! fund+   
%ortfall ( su* plan = su* plan ye>      
7det]m9$ us+ ! int]e/ rates z modifi$ "u
 subp>agraph 7,a774  7,c7 ,det]m9ation (
 %ortfall amortization in/allm5ts  7i7  
#cj-ye> p]iod ,subp>agraphs 7,a7 & 7,b7 

( subsection 7c77#b7 %all be appli$ by  
sub/itut+ #cj-plan-ye> = #g-plan-ye> ea*
 place x appe>s4  7ii7 ,no special      
election ,! election "u subp>agraph 7,d7
 ( subsection 7c77#b7 %all n apply to   
any plan ye> to :i* ! election "u       
p>agraph 7#a7 applies4  7,d7 ,exemption 
f at-risk treatm5t ,subsection 7i7 %all 
n apply4  7#d7 ,community newspap] plan 
,= purposes ( ?is subsection3  7,a7 ,9  
g5]al ,! t]m community newspap] plan    
means a plan to :i* ?is section applies 
ma9ta9$ by an employ] :i*1 z ( ,decemb] 
#ca1 #bjag-- 7i7 publi%es & di/ributes1 
ei!r electronically or 9 pr9t$ =m1 #a or
 m newspap]s1  7ii7 is n a company !    
/ock ( :i* is publicly trad$ 7on a /ock 
ex*ange or 9 an ov]-!-c\nt] m>ket71 & is
 n controll$1 directly or indirectly1 by
 su* a company1 &  7iii7 is controll$1  
directly or indirectly--  7,i7 by #a or 
m p]sons resid+ prim>ily 9 a ,/ate 9 :i*
 ! newspap] is publi%$ or di/ribut$1    
7,,ii7 by a tru/ or tru/s1 #a or m ( :i*
 0 creat$ or organiz$ 9 a ,/ate 9 :i* ! 

newspap] is publi%$ or di/ribut$1 or    
7,,iii7 by a comb9ation ( p]sons        
describ$ 9 subclauses 7,i7 & 7,,ii74    
7,b7 ,control ,a p]son %all be treat$ z 
controll$ by ano!r p]son if su* o!r     
p]son possesses1 directly or indirectly1
 ! p[] to direct or cause ! direction & 
managem5t ( su* p]son 7includ+ ! p[] to 
elect a majority ( ! memb]s ( ! bo>d (  
directors ( su* p]son7 ?r\gh ! own]%ip (
 vot+ securities4  7#e7 ,controll$ gr\p 
,= purposes ( ?is subsection1 ! t]m     
controll$ gr\p means all p]sons treat$ z
 a s+le employ] "u subsection 7b71 7c71 
7m71 or 7o7 ( section #dad ( ! ,int]nal 
,rev5ue ,code ( #aihf z ( ! date ( !    
enactm5t ( ?is subsection4  7#f7 ,effect
 on premium rate calculation ,not)/&+   
any o!r provision ( law or any          
regulation issu$ by ! ,p5sion ,b5efit   
,gu>anty ,corporation1 9 ! case ( a plan
 ) respect to :i* ! election "u p>agraph
 7#a7 has be5 made1 ! additional premium
 "u section #djjf7;a77#c77;,e7 %all be  
det]m9$ z if su* election _h n be5 made4

  4  7c7 ,effective date ,! am5dm5ts    
made by ?is section %all apply to plan  
ye>s end+ aft] ,decemb] #ca1 #bjag4