[Congressional Bills 103th Congress] [From the U.S. Government Publishing Office] [S. 400 Introduced in Senate (IS)] 103d CONGRESS 1st Session S. 400 To amend the Employee Retirement Income Security Act of 1974 to provide for the treatment of settlement agreements reached with the Pension Benefit Guaranty Corporation. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES February 18 (legislative day, January 5), 1993 Mr. Jeffords (for himself and Mr. Campbell) introduced the following bill; which was read twice and referred to the Committee on Labor and Human Resources _______________________________________________________________________ A BILL To amend the Employee Retirement Income Security Act of 1974 to provide for the treatment of settlement agreements reached with the Pension Benefit Guaranty Corporation. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Pension Benefit Guaranty Corporation Lease Settlements Act of 1993''. SEC. 2. TREATMENT OF SETTLEMENT LEASES WITH THE PENSION BENEFIT GUARANTY CORPORATION. Section 4062 of the Employee Retirement Income Security Act of 1974 is amended by adding at the end the following new subsection: ``(f) Treatment of Leases.--In the case of any settlement for liability under title IV of this Act entered into by the corporation and one or more other parties, if-- ``(1) such settlement was entered into before the date of the enactment of the Pension Benefit Guaranty Corporation Lease Settlements Act of 1993, ``(2) one party to such settlement was a debtor under title 11, United States Code, and ``(3) the corporation is a party-in-interest to an agreement being entered into as part of such settlement, which agreement provided that it is to be treated as a lease, then, for purposes of such title 11, such agreement shall be treated as a lease for purposes of section 1110 of such title 11.''. <all>