companies, represents at least 10,000 em-
ployees. 
‘‘(D) QUALIFIED
STEEL
COMPANY.—The 
term ‘qualified steel company’ includes any per-
son who, on or before January 1, 2003, was en-
gaged in the transportation of any steel product 
or iron ore products solely or principally for an-
other qualified steel company described in the 
preceding sentence, but only if such person and 
such other person bear a relationship to each 
other specified in section 267(b).’’. 
(2) CONFORMING AMENDMENTS.—
(A) Paragraph (1) of section 35(c) of such 
Code is amended by striking ‘‘and’’ at the end 
of subparagraph (B), by striking the period at 
the end of subparagraph (C) and inserting ‘‘, 
and’’, and by adding the following new subpara-
graph: 
‘‘(D) an eligible steel industry retiree.’’. 
(B) Paragraph (1) of section 35(d) of such 
Code is amended—
(i) in subparagraph (A) by inserting 
‘‘, or the eligible steel industry retiree’s,’’ 
after ‘‘taxpayer’s’’, and
(ii) in subparagraph (B) by inserting 
‘‘or the eligible steel industry retiree’’ after 
‘‘taxpayer’’. 
(d) ADDITION OF STEEL RETIREE HEALTH BENE-
FITS
TO DEFINITION
OF QUALIFIED HEALTH INSUR-
ANCE.—Paragraph (1) of section 35(e) of such Code is 
amended by adding at the end the following new subpara-
graphs: 
‘‘(K) Coverage under an employee benefit 
plan of a qualified steel company or coverage 
funded by a steel industry retiree benefits 
health trust. 
‘‘(L) In the case of an eligible steel indus-
try retiree, coverage under a medicare supple-
mental policy (as defined in section 1882(g)(1) 
of the Social Security Act), Medicare+Choice 
plan (as defined in part C of title XVIII of such 
Act), and similar plans.’’. 
(e) EXCEPTION FROM SPECIFIED COVERAGE RULE 
FOR STEEL INDUSTRY RETIREES.—Subsection (f) of sec-
tion 35 of such Code is amended by adding at the end 
the following flush sentence: ‘‘Paragraph (2) shall not 
apply in the case of a credit under this section otherwise 
allowable to an eligible steel industry retiree and quali-
fying family members of such retiree.’’.
(f) SPECIAL RULE FOR QUALIFIED STEEL COMPANY 
PAYMENTS TO A STEEL INDUSTRY RETIREE HEALTH 
BENEFITS TRUST.—Subsection (g) of section 35 of such 
Code, as amended by subsection (b), is further amended 
by adding at the end the following new paragraph: 
‘‘(10) TREATMENT OF PAYMENTS BY A QUALI-
FIED STEEL COMPANY TO A STEEL INDUSTRY RE-
TIREE HEALTH BENEFITS TRUST.—For purposes of 
this section—
‘‘(A) IN
GENERAL.—Amounts paid by a 
qualified steel company to a steel industry re-
tiree health benefits trust shall be treated as 
amounts paid for qualifying coverage for pur-
poses of subsection (a)(2) (determined without 
regard to paragraph (9)). 
‘‘(B) STEEL INDUSTRY RETIREE HEALTH 
BENEFITS TRUST.—The term ‘steel industry re-
tiree health benefits trust’ means a trust estab-
lished for the purpose of paying health and 
death benefits to eligible steel industry retirees 
and qualifying family members either pursuant 
to section 501(c)(9) or in connection with the 
acquisition by a qualified steel company of an-
other qualified steel company or of a substan-
tial portion of the assets of another qualified 
steel company.’’. 
(g) OTHER CONFORMING AMENDMENTS.—
(1) Section 35(g)(1) of such Code is amended 
by striking ‘‘subsection (a)’’ and inserting ‘‘sub-
section (a)(1)’’. 
(2) Section 35(g)(2) of such Code is amended 
by striking ‘‘162(l) or 213’’ and inserting ‘‘162(l), 
213, or 419’’. 
(h) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2003.
Æ