Butch Lewis Act of 2017
Latest action · Jan 30, 2018 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-161.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedNov 16, 2017
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Butch Lewis Act of 2017
This bill establishes the Pension Rehabilitation Administration within the Department of the Treasury and a related trust fund to make loans to certain multiemployer defined benefit pension plans.
To receive a loan, a plan must be either in critical and declining status (including any plan with respect to which a suspension of benefits has been approved) or insolvent, if the plan became insolvent after December 16, 2014, and has not been terminated.
Treasury must issue bonds to fund the loan program and transfer amounts equal to the proceeds to the trust fund established by this bill. The Pension Rehabilitation Administration may use the funds, without a further appropriation, to make loans, pay principal and interest on the bonds, or for administrative and operating expenses.
The bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to allow the sponsor of a multiemployer pension plan that is applying for a loan under this bill to also apply to the Pension Benefit Guaranty Corporation (PBGC) for financial assistance if, after receiving the loan, the plan will still become (or remain) insolvent within the 30-year period beginning on the date of the loan.
The bill also appropriates to the PBGC the funds that are necessary to provide the financial assistance required by this bill.
Cosponsors 24
Members who signed on, in the order they did. Signatures ran from Nov 16, 2017 to Nov 29, 2018; 11 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MN | Al Franken | Original | Nov 16, 2017 |
| D-MN | Amy Klobuchar | Original | Nov 16, 2017 |
| D-MO | Claire McCaskill | Original | Nov 16, 2017 |
| D-MI | Debbie Stabenow | Original | Nov 16, 2017 |
| D-MI | Gary C. Peters | Original | Nov 16, 2017 |
| D-ND | Heidi Heitkamp | Original | Nov 16, 2017 |
| D-IN | Joe Donnelly | Original | Nov 16, 2017 |
| D-WV | Joe Manchin III | Original | Nov 16, 2017 |
| D-IL | Richard J. Durbin | Original | Nov 16, 2017 |
| D-WI | Tammy Baldwin | Original | Nov 16, 2017 |
| D-IL | Tammy Duckworth | Original | Nov 16, 2017 |
| D-FL | Bill Nelson | Dec 1, 2017 | |
| D-PA | Robert P. Casey Jr. | Dec 20, 2017 | |
| D-MN | Tina Smith | Jan 18, 2018 | |
| D-AL | Doug Jones | Jan 30, 2018 | |
| D-NH | Jeanne Shaheen | Jan 30, 2018 | |
| D-NJ | Cory A. Booker | Feb 14, 2018 | |
| D-NH | Margaret Wood Hassan | Feb 14, 2018 | |
| D-MA | Elizabeth Warren | Mar 6, 2018 | |
| D-HI | Mazie K. Hirono | Mar 14, 2018 | |
| D-MA | Edward J. Markey | Apr 24, 2018 | |
| D-OR | Jeff Merkley | Apr 24, 2018 | |
| D-CA | Kamala D. Harris | Nov 29, 2018 | |
| D-RI | Sheldon Whitehouse | Nov 29, 2018 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Referred Nov 16, 2017 |
| Senate | Banking, Housing, and Urban Affairs Committee | Hearings Jan 30, 2018 |
Actions 3
Everything that happened, newest first.
- Jan 30, 2018Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-161.
- Nov 16, 2017Introduced in Senate
- Nov 16, 2017Read twice and referred to the Committee on Finance.
In the Congressional Record 5
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Debate and remarks S2667–S2672 | Amy Klobuchar D-MN, Gary C. Peters D-MI, Heidi Heitkamp D-ND, Joe Donnelly D-IN, Joe Manchin III D-WV, Robert P. Casey Jr. D-PA, Tammy Baldwin D-WI | May 15, 2018 |
| Senate | Debate and remarks S435 | Sherrod Brown D-OH | Jan 22, 2018 |
| Senate | Debate and remarks S341 | Robert P. Casey Jr. D-PA | Jan 19, 2018 |
| Senate | Debate and remarks S181–S185 | Amy Klobuchar D-MN, Charles E. Schumer D-NY, Debbie Stabenow D-MI, Joe Donnelly D-IN, Robert P. Casey Jr. D-PA, Sherrod Brown D-OH, Tammy Baldwin D-WI | Jan 16, 2018 |
| House | Debate and remarks H80 | Marcy Kaptur D-OH | Jan 9, 2018 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Congressional Budget Office cost estimates 2
- Oct 11, 2018S. 2147, Butch Lewis Act of 2017Letter to the Honorable Jim Renacci
- Jul 16, 2018Preliminary Analysis of S. 2147, the Butch-Lewis Act of 2017, as introducedLetter to the Honorable Orrin G. Hatch
Printed hearings 3
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| S. Hrg. 115-781 | HOW THE MULTIEMPLOYER PENSION SYSTEM AFFECTS STAKEHOLDERS87 pages | Joint Select Committee on Solvency of Multiemployer Pension Plans | Jul 25, 2018 |
| S. Hrg. 115-719 | EMPLOYER PERSPECTIVES ON MULTIEMPLOYER PENSION PLANS122 pages | Joint Select Committee on Solvency of Multiemployer Pension Plans | Jun 13, 2018 |
| S. Hrg. 115-638 | THE HISTORY AND STRUCTURE OF THE MULTIEMPLOYER PENSION SYSTEM131 pages | Joint Select Committee on Solvency of Multiemployer Pension Plans | Apr 18, 2018 |
CRS reports 4
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
About this bill 1
Products that name it in their title: its number, its law number or one of its short titles.
| Product | Title | Kind | Published |
|---|---|---|---|
| IF10976 | S. 2147, the Butch Lewis Act of 2017, and H.R. 4444, the Rehabilitation for Multiemployer Pensions Act Archived | Resource | Sep 10, 2018 |
Also cite it 3
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R45311 | Policy Options for Multiemployer Defined Benefit Pension Plans Archived | Report | Oct 14, 2020 |
| R45187 | Data on Multiemployer Defined Benefit (DB) Pension Plans Archived | Report | May 22, 2020 |
| IF11144 | H.R. 397 (116th Congress), the Rehabilitation for Multiemployer Pensions Act Archived | Resource | Jul 19, 2019 |
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 4444 | Rehabilitation for Multiemployer Pensions Act | Related bill | Nov 16, 2017 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the Internal Revenue Code of 1986 to create a Pension Rehabilitation Trust Fund to establish a Pension Rehabilitation Administration within the Department of the Treasury to make loans to multiemployer defined benefit plans, and for other purposes.
- Short Titles as Introduced
- Butch Lewis Act of 2017
Subjects
Assigned by the Library of Congress. Policy area: Labor and Employment.
Text 1
Each version as it was printed, newest first.
- Nov 16, 2017Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
