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HR 1319 PCS
its most recently completed certifi-
cation of plan status before January 
1, 2021, unless such assumptions are 
unreasonable. 
‘‘(ii) INTEREST RATE.—For purposes 
of clause (i), the interest rate limit is the 
rate specified in section 430(h)(2)(C)(iii) 
(disregarding modifications made under 
clause (iv) of such section) for the month 
in which the application for special finan-
cial assistance is filed by the eligible multi-
employer plan or the 3 preceding months, 
with such specified rate increased by 200 
basis points. 
‘‘(iii) CHANGES IN ASSUMPTIONS.—If 
a plan determines that use of one or more 
prior assumptions is unreasonable, the 
plan may propose in its application to 
change such assumptions, provided that 
the plan discloses such changes in its ap-
plication and describes why such assump-
tions are no longer reasonable. The plan 
may not propose a change to the interest 
rate otherwise required under this sub-
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section for eligibility or financial assistance 
amount. 
‘‘(D) PLANS APPLYING FOR PRIORITY CON-
SIDERATION.—In the case of a plan applying 
for special financial assistance under rules pro-
viding for temporary priority consideration, as 
provided in paragraph (4)(C), such plan’s appli-
cation shall be submitted to the Secretary in 
addition to the Pension Benefit Guaranty Cor-
poration. 
‘‘(2) PLANS RECEIVING SPECIAL FINANCIAL AS-
SISTANCE.—In the case of an eligible multiemployer 
plan receiving special financial assistance under sec-
tion 4262 of the Employee Retirement Income Secu-
rity Act of 1974— 
‘‘(A) REINSTATEMENT
OF
SUSPENDED 
BENEFITS.—The plan shall— 
‘‘(i) reinstate any benefits that were 
suspended under subsection (e)(9) or sec-
tion 4245(a) of the Employee Retirement 
Income Security Act of 1974, effective as 
of the first month in which the effective 
date for the special financial assistance oc-
curs, for participants and beneficiaries as 
of such month, and 
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‘‘(ii) provide payments equal to the 
amount of benefits previously suspended to 
any participants or beneficiaries in pay 
status as of the effective date of the special 
financial assistance, payable, as determined 
by the plan— 
‘‘(I) as a lump sum within 3 
months of such effective date; or 
‘‘(II) in equal monthly install-
ments over a period of 5 years, com-
mencing within 3 months of such ef-
fective date, with no adjustment for 
interest. 
‘‘(B) RESTRICTIONS ON THE USE OF SPE-
CIAL FINANCIAL ASSISTANCE.—Special financial 
assistance received by the plan may be used to 
make benefit payments and pay plan expenses. 
Such assistance shall be segregated from other 
plan assets, and shall be invested by the plan 
in investment-grade bonds or other investments 
as permitted by regulations or other guidance 
issued by the Pension Benefit Guaranty Cor-
poration. 
‘‘(C) CONDITIONS
ON
PLANS
RECEIVING 
SPECIAL FINANCIAL ASSISTANCE.— 
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‘‘(i) IN GENERAL.—The Pension Ben-
efit Guaranty Corporation, in consultation 
with the Secretary, may impose, by regula-
tion, reasonable conditions on an eligible 
multiemployer plan receiving special finan-
cial assistance relating to increases in fu-
ture accrual rates and any retroactive ben-
efit improvements, allocation of plan as-
sets, reductions in employer contribution 
rates, diversion of contributions and alloca-
tion of expenses to other benefit plans, and 
withdrawal liability. 
‘‘(ii) LIMITATION.—The Pension Ben-
efit Guaranty Corporation shall not impose 
conditions on an eligible multiemployer 
plan as a condition of, or following receipt 
of, special financial assistance relating 
to— 
‘‘(I) any prospective reduction in 
plan benefits (including benefits that 
may be adjusted pursuant to sub-
section (e)(8)), 
‘‘(II) plan governance, including 
selection of, removal of, and terms of 
contracts with, trustees, actuaries, in-
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vestment managers, and other service 
providers, or 
‘‘(III) any funding rules relating 
to the plan. 
‘‘(D) ASSISTANCE DISREGARDED FOR CER-
TAIN PURPOSES.— 
‘‘(i) FUNDING
STANDARDS.—Special 
financial assistance received by the plan 
shall not be taken into account for deter-
mining contributions required under sec-
tion 431. 
‘‘(ii) INSOLVENT PLANS.—If the plan 
becomes insolvent within the meaning of 
section 418E after receiving special finan-
cial assistance, the plan shall be subject to 
all rules applicable to insolvent plans. 
‘‘(E) INELIGIBILITY FOR SUSPENSION OF 
BENEFITS.—The plan shall not be eligible to 
apply for a new suspension of benefits under 
subsection (e)(9)(G). 
‘‘(3) ELIGIBLE MULTIEMPLOYER PLAN.— 
‘‘(A) IN GENERAL.—For purposes of this 
section, a multiemployer plan is an eligible mul-
tiemployer plan if— 
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‘‘(i) the plan is in critical and declin-
ing status in any plan year beginning in 
2020 through 2022, 
‘‘(ii) a suspension of benefits has been 
approved with respect to the plan under 
subsection (e)(9) as of the date of the en-
actment of this subsection; 
‘‘(iii) in any plan year beginning in 
2020 through 2022, the plan is certified by 
the plan actuary to be in critical status, 
has a modified funded percentage of less 
than 40 percent, and has a ratio of active 
to inactive participants which is less than 
2 to 3, or 
‘‘(iv) the plan became insolvent within 
the meaning of section 418E after Decem-
ber 16, 2014, and has remained so insol-
vent and has not been terminated as of the 
date of enactment of this subsection. 
‘‘(B) MODIFIED FUNDED PERCENTAGE.— 
For purposes of subparagraph (A)(iii), the term 
‘modified funded percentage’ means the per-
centage equal to a fraction the numerator of 
which is current value of plan assets (as defined 
in section 3(26) of the Employee Retirement 
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Income Security Act of 1974) and the denomi-
nator of which is current liabilities (as defined 
in section 431(c)(6)(D)). 
‘‘(4) COORDINATION WITH PENSION BENEFIT 
GUARANTY CORPORATION.—In prescribing the appli-
cation process for eligible multiemployer plans to re-
ceive special financial assistance under section 4262 
of the Employee Retirement Income Security Act of 
1974 and reviewing applications of such plans, the 
Pension Benefit Guaranty Corporation shall coordi-
nate with the Secretary in the following manner: 
‘‘(A) In the case of a plan which has sus-
pended benefits under subsection (e)(9)— 
‘‘(i) in determining whether to ap-
prove the application, such corporation 
shall consult with the Secretary regarding 
the plan’s proposed method of reinstating 
benefits, as described in the plan’s applica-
tion and in accordance with guidance 
issued by the Secretary, and 
‘‘(ii) such corporation shall consult 
with the Secretary regarding the amount 
of special financial assistance needed based 
on the projected funded status of the plan 
as of the last day of the plan year ending 
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in 2051, whether the plan proposes to 
repay benefits over 5 years or as a lump 
sum, as required by paragraph (2)(A)(ii), 
and any other relevant factors, as deter-
mined by such corporation in consultation 
with the Secretary, to ensure the amount 
of assistance is sufficient to meet such re-
quirement and is sufficient to pay benefits 
as required in section 4262(j)(1) of such 
Act. 
‘‘(B) In the case of any plan which pro-
poses in its application to change the assump-
tions used, as provided in paragraph (1)(C)(iii), 
such corporation shall consult with the Sec-
retary regarding such proposed change in as-
sumptions. 
‘‘(C) If such corporation specifies in regu-
lations or guidance that temporary priority con-
sideration is available for plans which are insol-
vent within the meaning of section 418E or 
likely to become so insolvent or for plans which 
have suspended benefits under subsection 
(e)(9), or that availability is otherwise based on 
the funded status of the plan under this sec-
tion, as permitted by section 4262(d) of such 
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Act, such corporation shall consult with the 
Secretary regarding any granting of priority 
consideration to such plans.’’. 
SEC. 9705. EXTENDED AMORTIZATION FOR SINGLE EM-
PLOYER PLANS. 
(a) 15-YEAR AMORTIZATION UNDER THE INTERNAL 
REVENUE CODE OF 1986.—Section 430(c) of the Internal 
Revenue Code of 1986 is amended by adding at the end 
the following new paragraph: 
‘‘(8) 15-YEAR AMORTIZATION.—With respect to 
plan years beginning after December 31, 2019 (or, 
at the election of the plan sponsor, after December 
31, 2018)— 
‘‘(A) the shortfall amortization bases for 
all plan years preceding the first plan year be-
ginning after December 31, 2019 (or after De-
cember 31, 2018, whichever is elected), and all 
shortfall amortization installments determined 
with respect to such bases, shall be reduced to 
zero, and 
‘‘(B) subparagraphs (A) and (B) of para-
graph (2) shall each be applied by substituting 
‘15-plan-year period’ for ‘7-plan-year period’.’’. 
(b) 15-YEAR AMORTIZATION UNDER THE EMPLOYEE 
RETIREMENT INCOME SECURITY ACT OF 1974.—Section 
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303(c) of the Employee Retirement Income Security Act 
of 1974 (29 U.S.C. 1083(c)) is amended by adding at the 
end the following new paragraph: 
‘‘(8) 15-YEAR AMORTIZATION.—With respect to 
plan years beginning after December 31, 2019 (or, 
at the election of the plan sponsor, after December 
31, 2018)— 
‘‘(A) the shortfall amortization bases for 
all plan years preceding the first plan year be-
ginning after December 31, 2019 (or after De-
cember 31, 2018, whichever is elected), and all 
shortfall amortization installments determined 
with respect to such bases, shall be reduced to 
zero, and 
‘‘(B) subparagraphs (A) and (B) of para-
graph (2) shall each be applied by substituting 
‘15-plan-year period’ for ‘7-plan-year period’.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to plan years beginning after De-
cember 31, 2018. 
SEC. 9706. EXTENSION OF PENSION FUNDING STABILIZA-
TION PERCENTAGES FOR SINGLE EMPLOYER 
PLANS. 
(a) AMENDMENT TO INTERNAL REVENUE CODE OF 
1986.— 
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(1) IN GENERAL.—The table contained in sub-
clause (II) of section 430(h)(2)(C)(iv) of the Inter-
nal Revenue Code of 1986 is amended to read as fol-
lows: 
‘‘If the calendar year is: 
The applica-
ble min-
imum per-
centage is: 
The applica-
ble max-
imum per-
centage is: 
Any year in the period starting in 2012 and end-
ing in 2019 .........................................................
90% 
110%
Any year in the period starting in 2020 and end-
ing in 2025 .........................................................
95% 
105%
2026 ........................................................................
90% 
110%
2027 ........................................................................
85% 
115%
2028 ........................................................................
80% 
120%
2029 ........................................................................
75% 
125%
After 2029 ..............................................................
70% 
130%.’’. 
(2) FLOOR ON 25-YEAR AVERAGES.—Subclause 
(I) of section 430(h)(2)(C)(iv) of such Code is 
amended by adding at the end the following: ‘‘Not-
withstanding anything in this subclause, if the aver-
age of the first, second, or third segment rate for 
any 25-year period is less than 5 percent, such aver-
age shall be deemed to be 5 percent.’’. 
(b) AMENDMENTS TO EMPLOYEE RETIREMENT IN-
COME SECURITY ACT OF 1974.— 
(1) IN GENERAL.—The table contained in sub-
clause (II) of section 303(h)(2)(C)(iv) of the Em-
ployee Retirement Income Security Act of 1974 (29 
U.S.C. 1083(h)(2)(C)(iv)(II)) is amended to read as 
follows: 
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‘‘If the calendar year is: 
The applica-
ble min-
imum per-
centage is: 
The applica-
ble max-
imum per-
centage is: 
Any year in the period starting in 2012 and end-
ing in 2019 .........................................................
90% 
110%
Any year in the period starting in 2020 and end-
ing in 2025 .........................................................
95% 
105%
2026 ........................................................................
90% 
110%
2027 ........................................................................
85% 
115%
2028 ........................................................................
80% 
120%
2029 ........................................................................
75% 
125%
After 2029 ..............................................................
70% 
130%.’’. 
(2) FLOOR ON 25-YEAR AVERAGES.—Subclause 
(I) of section 303(h)(2)(C)(iv) of such Act (29 
U.S.C. 1083(h)(2)(C)(iv)(I)) is amended by adding 
at the end the following: ‘‘Notwithstanding anything 
in this subclause, if the average of the first, second, 
or third segment rate for any 25-year period is less 
than 5 percent, such average shall be deemed to be 
5 percent.’’. 
(3) CONFORMING AMENDMENTS.— 
(A) IN GENERAL.—Section 101(f)(2)(D) of 
such Act (29 U.S.C. 1021(f)(2)(D)) is amend-
ed— 
(i) in clause (i) by striking ‘‘and the 
Bipartisan Budget Act of 2015’’ both 
places it appears and inserting ‘‘, the Bi-
partisan Budget Act of 2015, and the 
American Rescue Plan Act of 2021’’, and 
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(ii) in clause (ii) by striking ‘‘2023’’ 
and inserting ‘‘2029’’. 
(B) 
STATEMENTS.—The 
Secretary 
of 
Labor shall modify the statements required 
under subclauses (I) and (II) of section 
101(f)(2)(D)(i) of such Act to conform to the 
amendments made by this section. 
(c) EFFECTIVE DATE.— 
(1) IN GENERAL.—The amendments made by 
this section shall apply with respect to plan years be-
ginning after December 31, 2019. 
(2) ELECTION NOT TO APPLY.—A plan sponsor 
may elect not to have the amendments made by this 
section apply to any plan year beginning before Jan-
uary 1, 2021, either (as specified in the election)— 
(A) for all purposes for which such amend-
ments apply, or 
(B) solely for purposes of determining the 
adjusted funding target attainment percentage 
under sections 436 of the Internal Revenue 
Code of 1986 and 206(g) of the Employee Re-
tirement Income Security Act of 1974 for such 
plan year. 
A plan shall not be treated as failing to meet the re-
quirements of sections 204(g) of such Act and 
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411(d)(6) of such Code solely by reason of an elec-
tion under this paragraph. 
SEC. 9707. MODIFICATION OF SPECIAL RULES FOR MIN-
IMUM FUNDING STANDARDS FOR COMMU-
NITY NEWSPAPER PLANS. 
(a) AMENDMENT TO INTERNAL REVENUE CODE OF 
1986.—Subsection (m) of section 430 of the Internal Rev-
enue Code of 1986 is amended to read as follows: 
‘‘(m) SPECIAL RULES FOR COMMUNITY NEWSPAPER 
PLANS.— 
‘‘(1) IN GENERAL.—An eligible newspaper plan 
sponsor of a plan under which no participant has 
had the participant’s accrued benefit increased 
(whether because of service or compensation) after 
April 2, 2019, may elect to have the alternative 
standards described in paragraph (4) apply to such 
plan. 
‘‘(2) ELIGIBLE NEWSPAPER PLAN SPONSOR.— 
The term ‘eligible newspaper plan sponsor’ means 
the plan sponsor of— 
‘‘(A) any community newspaper plan, or 
‘‘(B) any other plan sponsored, as of April 
2, 2019, by a member of the same controlled 
group of a plan sponsor of a community news-
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paper plan if such member is in the trade or 
business of publishing 1 or more newspapers. 
‘‘(3) ELECTION.—An election under paragraph 
(1) shall be made at such time and in such manner 
as prescribed by the Secretary. Such election, once 
made with respect to a plan year, shall apply to all 
subsequent plan years unless revoked with the con-
sent of the Secretary. 
‘‘(4) ALTERNATIVE MINIMUM FUNDING STAND-
ARDS.—The alternative standards described in this 
paragraph are the following: 
‘‘(A) INTEREST RATES.— 
‘‘(i) IN
GENERAL.—Notwithstanding 
subsection (h)(2)(C) and except as pro-
vided in clause (ii), the first, second, and 
third segment rates in effect for any 
month for purposes of this section shall be 
8 percent. 
‘‘(ii) NEW BENEFIT ACCRUALS.—Not-
withstanding subsection (h)(2), for pur-
poses of determining the funding target 
and normal cost of a plan for any plan 
year, the present value of any benefits ac-
crued or earned under the plan for a plan 
year with respect to which an election 
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under paragraph (1) is in effect shall be 
determined on the basis of the United 
States Treasury obligation yield curve for 
the day that is the valuation date of such 
plan for such plan year. 
‘‘(iii) UNITED STATES TREASURY OB-
LIGATION YIELD CURVE.—For purposes of 
this subsection, the term ‘United States 
Treasury obligation yield curve’ means, 
with respect to any day, a yield curve 
which shall be prescribed by the Secretary 
for such day on interest-bearing obligations 
of the United States. 
‘‘(B) SHORTFALL AMORTIZATION BASE.— 
‘‘(i) PREVIOUS SHORTFALL AMORTIZA-
TION
BASES.—The shortfall amortization 
bases determined under subsection (c)(3) 
for all plan years preceding the first plan 
year to which the election under paragraph 
(1) applies (and all shortfall amortization 
installments determined with respect to 
such bases) shall be reduced to zero under 
rules similar to the rules of subsection 
(c)(6). 
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‘‘(ii) NEW SHORTFALL AMORTIZATION 
BASE.—Notwithstanding subsection (c)(3), 
the shortfall amortization base for the first 
plan year to which the election under para-
graph (1) applies shall be the funding 
shortfall of such plan for such plan year 
(determined using the interest rates as 
modified under subparagraph (A)). 
‘‘(C) DETERMINATION OF SHORTFALL AM-
ORTIZATION INSTALLMENTS.— 
‘‘(i) 
30-YEAR
PERIOD.—Subpara-
graphs (A) and (B) of subsection (c)(2) 
shall be applied by substituting ‘30-plan- 
year’ for ‘7-plan-year’ each place it ap-
pears. 
‘‘(ii) NO
SPECIAL
ELECTION.—The 
election under subparagraph (D) of sub-
section (c)(2) shall not apply to any plan 
year to which the election under paragraph 
(1) applies. 
‘‘(D) EXEMPTION FROM AT-RISK TREAT-
MENT.—Subsection (i) shall not apply. 
‘‘(5) COMMUNITY NEWSPAPER PLAN.—For pur-
poses of this subsection— 
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‘‘(A) IN GENERAL.—The term ‘community 
newspaper plan’ means any plan to which this 
section applies maintained as of December 31, 
2018, by an employer which— 
‘‘(i) maintains the plan on behalf of 
participants and beneficiaries with respect 
to employment in the trade or business of 
publishing 1 or more newspapers which 
were published by the employer at any 
time during the 11-year period ending on 
December 20, 2019, 
‘‘(ii)(I) is not a company the stock of 
which is publicly traded (on a stock ex-
change or in an over-the-counter market), 
and is not controlled, directly or indirectly, 
by such a company, or 
‘‘(II) is controlled, directly or indi-
rectly, during the entire 30-year period 
ending on December 20, 2019, by individ-
uals who are members of the same family, 
and does not publish or distribute a daily 
newspaper that is carrier-distributed in 
printed form in more than 5 States, and 
‘‘(iii) is controlled, directly or indi-
rectly— 
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‘‘(I) by 1 or more persons resid-
ing primarily in a State in which the 
community newspaper has been pub-
lished on newsprint or carrier-distrib-
uted, 
‘‘(II) during the entire 30-year 
period ending on December 20, 2019, 
by individuals who are members of the 
same family, 
‘‘(III) by 1 or more trusts, the 
sole trustees of which are persons de-
scribed in subclause (I) or (II), or 
‘‘(IV) by a combination of per-
sons described in subclause (I), (II), 
or (III). 
‘‘(B) NEWSPAPER.—The term ‘newspaper’ 
does not include any newspaper (determined 
without regard to this subparagraph) to which 
any of the following apply: 
‘‘(i) Is not in general circulation. 
‘‘(ii) Is published (on newsprint or 
electronically) less frequently than 3 times 
per week. 
‘‘(iii) Has not ever been regularly 
published on newsprint. 
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‘‘(iv) Does not have a bona fide list of 
paid subscribers. 
‘‘(C) CONTROL.—A person shall be treated 
as controlled by another person if such other 
person possesses, directly or indirectly, the 
power to direct or cause the direction and man-
agement of such person (including the power to 
elect a majority of the members of the board of 
directors of such person) through the ownership 
of voting securities. 
‘‘(6) CONTROLLED
GROUP.—For purposes of 
this subsection, the term ‘controlled group’ means all 
persons treated as a single employer under sub-
section (b), (c), (m), or (o) of section 414 as of De-
cember 20, 2019.’’. 
(b) AMENDMENT TO EMPLOYEE RETIREMENT IN-
COME SECURITY ACT OF 1974.—Subsection (m) of section 
303 of the Employee Retirement Income Security Act of 
1974 (29 U.S.C. 1083(m)) is amended to read as follows: 
‘‘(m) SPECIAL RULES FOR COMMUNITY NEWSPAPER 
PLANS.— 
‘‘(1) IN GENERAL.—An eligible newspaper plan 
sponsor of a plan under which no participant has 
had the participant’s accrued benefit increased 
(whether because of service or compensation) after 
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April 2, 2019, may elect to have the alternative 
standards described in paragraph (4) apply to such 
plan. 
‘‘(2) ELIGIBLE NEWSPAPER PLAN SPONSOR.— 
The term ‘eligible newspaper plan sponsor’ means 
the plan sponsor of— 
‘‘(A) any community newspaper plan, or 
‘‘(B) any other plan sponsored, as of April 
2, 2019, by a member of the same controlled 
group of a plan sponsor of a community news-
paper plan if such member is in the trade or 
business of publishing 1 or more newspapers. 
‘‘(3) ELECTION.—An election under paragraph 
(1) shall be made at such time and in such manner 
as prescribed by the Secretary of the Treasury. Such 
election, once made with respect to a plan year, shall 
apply to all subsequent plan years unless revoked 
with the consent of the Secretary of the Treasury. 
‘‘(4) ALTERNATIVE MINIMUM FUNDING STAND-
ARDS.—The alternative standards described in this 
paragraph are the following: 
‘‘(A) INTEREST RATES.— 
‘‘(i) IN
GENERAL.—Notwithstanding 
subsection (h)(2)(C) and except as pro-
vided in clause (ii), the first, second, and 
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third segment rates in effect for any 
month for purposes of this section shall be 
8 percent. 
‘‘(ii) NEW BENEFIT ACCRUALS.—Not-
withstanding subsection (h)(2), for pur-
poses of determining the funding target 
and normal cost of a plan for any plan 
year, the present value of any benefits ac-
crued or earned under the plan for a plan 
year with respect to which an election 
under paragraph (1) is in effect shall be 
determined on the basis of the United 
States Treasury obligation yield curve for 
the day that is the valuation date of such 
plan for such plan year. 
‘‘(iii) UNITED STATES TREASURY OB-
LIGATION YIELD CURVE.—For purposes of 
this subsection, the term ‘United States 
Treasury obligation yield curve’ means, 
with respect to any day, a yield curve 
which shall be prescribed by the Secretary 
of the Treasury for such day on interest- 
bearing obligations of the United States. 
‘‘(B) SHORTFALL AMORTIZATION BASE.— 
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‘‘(i) PREVIOUS SHORTFALL AMORTIZA-
TION
BASES.—The shortfall amortization 
bases determined under subsection (c)(3) 
for all plan years preceding the first plan 
year to which the election under paragraph 
(1) applies (and all shortfall amortization 
installments determined with respect to 
such bases) shall be reduced to zero under 
rules similar to the rules of subsection 
(c)(6). 
‘‘(ii) NEW SHORTFALL AMORTIZATION 
BASE.—Notwithstanding subsection (c)(3), 
the shortfall amortization base for the first 
plan year to which the election under para-
graph (1) applies shall be the funding 
shortfall of such plan for such plan year 
(determined using the interest rates as 
modified under subparagraph (A)). 
‘‘(C) DETERMINATION OF SHORTFALL AM-
ORTIZATION INSTALLMENTS.— 
‘‘(i) 
30-YEAR
PERIOD.—Subpara-
graphs (A) and (B) of subsection (c)(2) 
shall be applied by substituting ‘30-plan- 
year’ for ‘7-plan-year’ each place it ap-
pears. 
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‘‘(ii) NO
SPECIAL
ELECTION.—The 
election under subparagraph (D) of sub-
section (c)(2) shall not apply to any plan 
year to which the election under paragraph 
(1) applies. 
‘‘(D) EXEMPTION FROM AT-RISK TREAT-
MENT.—Subsection (i) shall not apply. 
‘‘(5) COMMUNITY NEWSPAPER PLAN.—For pur-
poses of this subsection— 
‘‘(A) IN GENERAL.—The term ‘community 
newspaper plan’ means a plan to which this sec-
tion applies maintained as of December 31, 
2018, by an employer which— 
‘‘(i) maintains the plan on behalf of 
participants and beneficiaries with respect 
to employment in the trade or business of 
publishing 1 or more newspapers which 
were published by the employer at any 
time during the 11-year period ending on 
December 20, 2019, 
‘‘(ii)(I) is not a company the stock of 
which is publicly traded (on a stock ex-
change or in an over-the-counter market), 
and is not controlled, directly or indirectly, 
by such a company, or 
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‘‘(B) NEWSPAPER.—The term ‘newspaper’ 
does not include any newspaper (determined 
without regard to this subparagraph) to which 
any of the following apply: 
‘‘(i) Is not in general circulation. 
‘‘(ii) Is published (on newsprint or 
electronically) less frequently than 3 times 
per week. 
‘‘(iii) Has not ever been regularly 
published on newsprint. 
‘‘(iv) Does not have a bona fide list of 
paid subscribers. 
‘‘(C) CONTROL.—A person shall be treated 
as controlled by another person if such other 
person possesses, directly or indirectly, the 
power to direct or cause the direction and man-
agement of such person (including the power to 
elect a majority of the members of the board of 
directors of such person) through the ownership 
of voting securities. 
‘‘(6) CONTROLLED
GROUP.—For purposes of 
this subsection, the term ‘controlled group’ means all 
persons treated as a single employer under sub-
section (b), (c), (m), or (o) of section 414 of the In-
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ternal Revenue Code of 1986 as of December 20, 
2019. 
‘‘(7) EFFECT
ON
PREMIUM
RATE
CALCULA-
TION.—In the case of a plan for which an election 
is made to apply the alternative standards described 
in paragraph (3), the additional premium under sec-
tion 4006(a)(3)(E) shall be determined as if such 
election had not been made.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to plan years ending after Decem-
ber 31, 2017. 
SEC. 9708. COST OF LIVING ADJUSTMENT FREEZE. 
(a) IN GENERAL.—Subsection (d) of section 415 of 
the Internal Revenue Code of 1986 is amended by adding 
at the end the following new paragraph: 
‘‘(5) FREEZE
ON
COST
OF
LIVING
ADJUST-
MENTS.— 
‘‘(A) IN GENERAL.—Except as provided in 
subparagraph (B), in the case of calendar years 
beginning after December 31, 2030— 
‘‘(i) no adjustment shall be made 
under paragraph (1), and 
‘‘(ii) the dollar amounts as adjusted 
under such paragraph for calendar year 
2030 shall apply. 
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‘‘(B) 
EXCEPTION.—Subparagraph 
(A) 
shall not apply in the case of a plan maintained 
pursuant to 1 or more collective bargaining 
agreements.’’. 
(b) COMPENSATION LIMIT.—Paragraph (17) of sec-
tion 401(a) of the Internal Revenue Code of 1986 is 
amended by adding at the end the following new subpara-
graph: 
‘‘(C) FREEZE ON COST OF LIVING ADJUST-
MENTS.— 
‘‘(i) IN
GENERAL.—Except as pro-
vided in clause (ii), in the case of calendar 
years 
beginning 
after 
December 
31, 
2030— 
‘‘(I) no adjustment shall be made 
under subparagraph (B), and 
‘‘(II) the dollar amount as ad-
justed under such subparagraph for 
calendar year 2030 shall apply. 
‘‘(ii) EXCEPTION.—Clause (i) shall 
not apply in the case of a plan maintained 
pursuant to 1 or more collective bargaining 
agreements.’’. 
(c) CONFORMING AMENDMENTS.— 
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(1) Section 45A(c)(3) of the Internal Revenue 
Code of 1986 is amended by striking ‘‘415(d)’’ and 
inserting ‘‘415(d) (without regard to paragraph (5) 
thereof)’’. 
(2) Section 402(g)(4) of such Code is amended 
by striking ‘‘415(d)’’ and inserting ‘‘415(d) (without 
regard to paragraph (5) thereof)’’. 
(3) Section 408(p)(2)(E)(ii) of such Code is 
amended by striking ‘‘415(d)’’ and inserting ‘‘415(d) 
(without regard to paragraph (5) thereof)’’. 
(4) Section 409(o)(2) of such Code is amended 
by striking ‘‘415(d)’’ and inserting ‘‘415(d) (without 
regard to paragraph (5) thereof)’’. 
(5) Section 416(i)(1)(A) of such Code is 
amended by striking ‘‘415(d)’’ and inserting ‘‘415(d) 
(without regard to paragraph (5) thereof)’’. 
(6) Section 457(e)(11)(B)(iii) of such Code is 
amended by striking ‘‘415(d)’’ and inserting ‘‘415(d) 
(without regard to paragraph (5) thereof)’’. 
(7) Section 457(e)(15)(B) of such Code is 
amended by striking ‘‘415(d)’’ and inserting ‘‘415(d) 
(without regard to paragraph (5) thereof)’’. 
(8) Section 664(g)(7)(B) of such Code is 
amended by striking ‘‘415(d)’’ and inserting ‘‘415(d) 
(without regard to paragraph (5) thereof)’’. 
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Subtitle I—Child Care for Workers 
SEC. 9801. CHILD CARE ASSISTANCE. 
(a) APPROPRIATION.— 
(1) IN GENERAL.—Section 418(a)(3) of the So-
cial Security Act (42 U.S.C. 618(a)(3)) is amended 
to read as follows: 
‘‘(3) APPROPRIATION.—For grants under this 
section, there are appropriated $3,550,000,000 for 
each fiscal year, of which— 
‘‘(A) $3,375,000,000 shall be available for 
grants to States; 
‘‘(B) $100,000,000 shall be available for 
grants to Indian tribes and tribal organizations; 
and 
‘‘(C) $75,000,000 shall be available for 
grants to territories.’’. 
(2) 
CONFORMING
AMENDMENT.—Section 
418(a)(2)(A) of such Act (42 U.S.C. 618(a)(2)(A)) 
is amended by striking ‘‘paragraph (3), and remain-
ing after the reservation described in paragraph (4) 
and’’ and inserting ‘‘paragraph (3)(A),’’. 
(b) SUSPENSION OF STATE MATCH REQUIREMENT 
IN FISCAL YEARS 2021 AND 2022.—With respect to the 
amounts made available by section 418(a)(3)(A) of the So-
cial Security Act for each of fiscal years 2021 and 2022, 
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