(B) meet fiduciary and other requirements
of the Employee Retirement Income Security
Act of 1974 deemed necessary and applicable
by the Secretary of Labor.
(2) NEW ENTRANT.—For purposes of this sec-
tion, a new entrant is a person hired after December
31, 2001, who would otherwise be covered by the
Railroad Retirement Act of 1974 and who has never
previously been covered by such Act.
(d) OPTIONAL ELEMENTS OF PLAN.—
(1) ADDITIONAL
BENEFITS.—The plan sub-
mitted to the Secretary of Labor may include provi-
sion of pension benefits for persons other than new
entrants (and auxiliary beneficiaries of new en-
trants), if such benefits are fully funded under the
standards of the Employee Retirement Income Secu-
rity Act of 1974.
(2) TRANSFER
OF
EXISTING
OBLIGATIONS.—
The plan may also include the transfer of existing
Railroad Retirement Act pension obligations (other
than social security equivalent benefit obligations).
To transfer these pensions obligations, the Railroad
Retirement Board must certify to the Secretary of
Labor, for each individual beneficiary affected by
such transfer, that the beneficiary will get his or her
pension payment from the plan in lieu of a payment
from the Railroad Retirement Account.
(e) AGREED PLAN DEPOSITS.—Employers and em-
ployees covered by the multiemployer pension plan cer-
tified under this section may directly deposit pension fund
contributions into the fund and such deposits shall be
taken into consideration by the Secretary of Labor for
purposes of the payment amount specified in subsection
(b).
SEC. 7. REPEAL OF 4.3-CENT MOTOR FUEL EXCISE TAXES
ON RAILROADS AND INLAND WATERWAY
TRANSPORTATION WHICH REMAIN IN GEN-
ERAL FUND.
(a) TAXES ON TRAINS.—
(1) IN GENERAL.—Subparagraph (A) of section
4041(a)(1) of the Internal Revenue Code of 1986 is
amended by striking ‘‘or a diesel-powered train’’
each place it appears and by striking ‘‘or train’’.
(2) CONFORMING AMENDMENTS.—
(A) 
Subparagraph 
(C) 
of 
section
4041(a)(1) of such Code is amended by striking
clause (ii) and by redesignating clause (iii) as
clause (ii).
(B) 
Subparagraph 
(C) 
of 
section
4041(b)(1) of such Code is amended by striking
all that follows ‘‘section 6421(e)(2)’’ and insert-
ing a period.
(C) Subsection (d) of section 4041 of such
Code is amended by redesignating paragraph
(3) as paragraph (4) and by inserting after
paragraph (2) the following new paragraph:
‘‘(3) DIESEL FUEL USED IN TRAINS.—There is
hereby imposed a tax of 0.1 cent per gallon on any
liquid other than gasoline (as defined in section
4083)—
‘‘(A) sold by any person to an owner, les-
see, or other operator of a diesel-powered train
for use as a fuel in such train, or
‘‘(B) used by any person as a fuel in a die-
sel-powered train unless there was a taxable
sale of such fuel under subparagraph (A).
No tax shall be imposed by this paragraph on the
sale or use of any liquid if tax was imposed on such
liquid under section 4081.’’
(D) Subsection (f) of section 4082 of such
Code 
is 
amended 
by 
striking 
‘‘section
4041(a)(1)’’ and inserting ‘‘subsections (d)(3)
and (a)(1) of section 4041, respectively’’.
(E) Paragraph (3) of section 4083(a) of
such Code is amended by striking ‘‘or a diesel-
powered train’’.
(F) Paragraph (3) of section 6421(f) of
such Code is amended to read as follows:
‘‘(3) GASOLINE USED IN TRAINS.—In the case
of gasoline used as a fuel in a train, this section
shall not apply with respect to the Leaking Under-
ground Storage Tank Trust Fund financing rate
under section 4081.’’
(G) Paragraph (3) of section 6427(l) of
such Code is amended to read as follows:
‘‘(3) REFUND
OF
CERTAIN
TAXES
ON
FUEL
USED IN DIESEL-POWERED TRAINS.—For purposes
of this subsection, the term ‘nontaxable use’ includes
fuel used in a diesel-powered train. The preceding
sentence shall not apply to the tax imposed by sec-
tion 4041(d) and the Leaking Underground Storage
Tank Trust Fund financing rate under section 4081
except with respect to fuel sold for exclusive use by
a State or any political subdivision thereof.’’
(b) FUEL USED ON INLAND WATERWAYS.—
(1) IN
GENERAL.—Paragraph (1) of section
4042(b) of such Code is amended by adding ‘‘and’’
at the end of subparagraph (A), by striking ‘‘, and’’
at the end of subparagraph (B) and inserting a pe-
riod, and by striking subparagraph (C).
(2) CONFORMING AMENDMENT.—Paragraph (2)
of section 4042(b) of such Code is amended by strik-
ing subparagraph (C).
(c) EFFECTIVE DATE.—The amendments made by
this section shall take effect on October 1, 2000.
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