Pension and Budget Integrity Act of 2017

Bill: 115-s-270
Sponsor: full_name: Sen. Enzi, Michael B. [R-WY]
Introduced: 2017-02-01
Policy area: Economics and Public Finance
Subjects: Budget process

Employee benefits and pensions

Executive agency funding and structure

Government corporations and government-sponsored enterprises

Legislative rules and procedure

Pension Benefit Guaranty Corporation
Latest action: action_date: 2017-02-01
text: Read twice and referred to the Committee on the Budget.

Summaries:
action_date: 2017-02-01
action_desc: Introduced in Senate
text: <p><b>Pension and Budget Integrity Act of 2017</b></p> <p>This bill prohibits provisions that increase or extend an increase of Pension Benefit Guaranty Corporation (PBGC) premiums from being counted as an offset to determine budget points of order for legislation in the House or the Senate. </p> <p>(The PBGC is a federal agency that insures the benefits of private sector, defined benefit pension plans. The PBGC is financed by insurance premiums paid by sponsors of the plans, investment income, assets from pension plans taken over by the PBGC, and recoveries from the companies formerly responsible for the plans. This bill prevents increases in PBGC premiums from being used to pay for provisions that increase the deficit in determining whether a budget point of order applies to legislation.) </p>

tv_txt: II 115th CONGRESS 1st Session S. 270 IN THE SENATE OF THE UNITED STATES February 1, 2017 Mr. Enzi (for himself, Mr. Alexander , Mr. Portman , and Mr. Isakson ) introduced the following bill; which was read twice and referred to the Committee on the Budget A BILL To prohibit the use of premiums paid to the Pension Benefit Guaranty Corporation as an offset for other Federal spending.

1. Short title This Act may be cited as the Pension and Budget Integrity Act of 2017 . 2. Prohibition on the use of premiums as an offset (a) In general In the Senate and the House of Representatives, for purposes of determining points of order under the Congressional Budget Act of 1974 ( 2 U.S.C. 621 et seq.) or any concurrent resolution on the budget, any provision that increases, or extends the increase of, any premiums payable to the Pension Benefit Guaranty Corporation shall not be counted in estimating the level of budget authority, outlays, or revenues— (1) in the Senate, for any bill, joint resolution, amendment, amendment between the Houses, conference report, or motion; or (2) in the House of Representatives, for any bill or joint resolution, or amendment thereto or conference report thereon. (b) Rules of Senate and House of Representatives Congress adopts the provisions of this section— (1) as an exercise of the rulemaking power of the Senate and the House of Representatives, respectively, and as such is deemed a part of the rules of each House, respectively, and supersede other rules only to the extent that they are inconsistent with such rules; and (2) with full recognition of the constitutional right of either House to change the rules (so far as relating to the procedure of that House) at any time, in the same manner, and to the same extent as in the case of any other rule of that House.