A bill to amend the Internal Revenue Code of 1954 to ensure that the deduction for contributions to a black lung benefit trust be allowed for any such contributions which are made for the purpose of satisfying unfunded future liability, and for other purposes.
PL 95-488 (H.R.13167), enacted 10/20/1978

PUBLIC LAW 95-488—OCT. 20, 1978 
92 STAT. 1637 
Public Law 95-488 
95th Congress 
An Act 
To amend the Internal Revenue Code of 1954 to insure that the deduction for 
contributions to a black lung benefit trust be allowed for any such contributions 
which are made for the purpose of satisfying unfimded future liability, and for 
other purposes. 
Be it enacted hy the Senate and House of Representatives of the 
United States of Avnerica in Congress assemoled^ That (a) subsection 
(b) of section 192 of the Internal Eevenue Code of 1954 (relating to 
contributions to black lung benefit trusts) is amended to read as 
follows: 
" (b) LIMITATION.—The maximum amount of the deduction allowed 
by subsection (a) for any taxpayer for any taxable year shall not 
exceed the greater of— 
"(1) the amount necessary to fund (with level funding) the 
remaining unfunded liability of the taxpayer for black lung 
claims filed (or expected to be filed) by (or with respect to) past 
or present employees of the taxpayer, or 
''(2) the aggregate amount necessary to increase each trust 
described in section 501(c) (21) to the amount required to pay all 
amounts payable out of such trust for the taxable year." 
(b) Paragraph (1) of section 192(c) of such Code (relating to 
special rules) is amended to read as follows: 
"(1) 
METHOD OF DETERMINING AMOUNTS REFERRED TO IN SUB-
SECTION (b).— 
"(A) I N GENERAL.—The amounts described in subsection 
(b) shall be determined by using reasonable actuarial methods 
and assumptions which are not inconsistent with regulations 
prescribed by the Secretary. 
"(B) FUNDING PERIOD.—Except as provided in subpara-
graph (C), the funding period for purposes of subsection 
(b) (1) shall be the greater of— 
"(i) the average remaining working life of miners 
who are present employees of the taxpayer, or 
"(ii) 10 taxable years. 
For purposes of the preceding sentence, the term 'miner' has 
the same meaning as such term has when used in section 402 
(d) of the Black Lung Benefits Act (30 U.S.C. 902(d)). 
"(C) DIFFERENT FUNDING PERIODS.—To the extent that— 
"(i) regulations prescribed by the Secretary provide 
for a different period, or 
"(ii) the Secretary consents to a different period pro-
posed by the taxpayer, 
such different period shall be substituted for the funding 
period provided in subparagraph (B)." 
(c) Subsection (c) of section 192 of such Code is amended by adding 
at the end thereof the following new paragraph: 
"(5) DENIAL OF SECTION 162 DEDUCTION WITH RESPECT TO LIABIL-
ITY.—NO deduction shall be allowed under section 162(a) with 
respect to any liability taken into account in determining the 
deduction under subsection (a) of this section of the taxpayer 
(or a predecessor)." 
Oct. 20, 1978 
[H.R. 13167] 
Taxes. 
Deductions for 
contributions to a 
black lung 
benefit trust. 
26 use 192. 
26 use 501. 
26 use 192. 
"Miner. 
26 use 162. 
92 STAT. 1638 
PUBLIC LAW 95-488—OCT. 20, 1978 
(d) (1) The first sentence of subparagraph (A) of section 6104(a) 
26 use 6104. 
(1) of such Code (relating to inspection of applications for tax exemp-
tion) is amended by striking out "(other than in paragraph (21) 
thereof)", 
(2) Subsection (b) of section 6104 of such Code (relating to inspec-
tion of annual information returns) is amended by striking out the 
last sentence. 
26 use 192 note. 
(e) The amendments made by this section shall apply to taxable 
years beginning after December 31,1977. Nothing in tne amendments 
made by subsection (d) to section 6104 of the Internal Revenue Code 
of 1964 shall be construed to permit the disclosure under such section 
6104 of confidential business information of contributors to any trust 
26 use 501. 
described in section 501 (c) (21) of such Code. 
Approved October 20, 1978. 
LEGISLATIVE HISTORY: 
HOUSE REPORT No. 95-1656 (Comm. on Ways and Means). 
eONGRESSIONAL RECORD, Vol. 124 (1978): 
Oct. 3, considered and passed House. 
Oct. 10, considered and passed Senate.