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United States · Bill · S

S. 2254 (116th)

Butch Lewis Act of 2019

referredUnited States· United States Congress· EN

Introduced

24 July 2019

Last action

24 July 2019 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Sen. Brown, Sherrod [D-OH], Sen. Baldwin, Tammy [D-WI], Sen. Blumenthal, Richard [D-CT], Sen. Booker, Cory A. [D-NJ], Sen. Casey, Robert P., Jr. [D-PA], Sen. Duckworth, Tammy [D-IL], Sen. Durbin, Richard J. [D-IL], Sen. Harris, Kamala D. [D-CA], Sen. Hassan, Margaret Wood [D-NH], Sen. Heinrich, Martin [D-NM], Sen. Hirono, Mazie K. [D-HI], Sen. Jones, Doug [D-AL], Sen. Kaine, Tim [D-VA], Sen. Klobuchar, Amy [D-MN], Sen. Manchin, Joe, III [D-WV], Sen. Markey, Edward J. [D-MA], Sen. Merkley, Jeff [D-OR], Sen. Peters, Gary C. [D-MI], Sen. Rosen, Jacky [D-NV], Sen. Sanders, Bernard [I-VT], Sen. Schumer, Charles E. [D-NY], Sen. Shaheen, Jeanne [D-NH], Sen. Smith, Tina [D-MN], Sen. Stabenow, Debbie [D-MI], Sen. Van Hollen, Chris [D-MD], Sen. Warren, Elizabeth [D-MA], Sen. Whitehouse, Sheldon [D-RI], Sen. Schatz, Brian [D-HI], Sen. Cortez Masto, Catherine [D-NV], Sen. Coons, Christopher A. [D-DE], Sen. King, Angus S., Jr. [I-ME], Sen. Warner, Mark R. [D-VA], Sen. Gillibrand, Kirsten E. [D-NY], Sen. Collins, Susan M. [R-ME], Sen. Reed, Jack [D-RI], Sen. Menendez, Robert [D-NJ], Sen. Tester, Jon [D-MT], Sen. Leahy, Patrick J. [D-VT], Sen. Udall, Tom [D-NM], Sen. Feinstein, Dianne [D-CA]

Subjects

Discovery layer

Source updated

13 January 2026

Official sourceDownload fileView documentsShare

Summary

Butch Lewis Act of 2019 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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 24 July 2019

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 24 July 2019

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 24 July 2019

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  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 24 July 2019

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 24 July 2019

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Sponsors

Related records

Sources

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