26 USC 192 - Contributions to black lung benefit trust

Editorial Notes

References in Text

The Federal Mine Safety and Health Act of 1977, referred to in subsec. (e), is Puspan. L. 91–173, Dec. 30, 1969, 83 Stat. 742, as amended by Puspan. L. 95–164, Nov. 9, 1977, 91 Stat. 1290. Part C of title IV of the Federal Mine Safety and Health Act of 1977 is classified generally to part C of subchapter IV of chapter 22 (§ 931 et seq.) of Title 30, Mineral Lands and Mining. For complete classification of this Act to the Code, see Short Title note set out under section 801 of Title 30 and Tables.

Amendments

1992—Subsec. (c)(4). Puspan. L. 102–486 substituted “subclause (II) of section 501(c)(21)(A)(ii)” for “clause (ii) of section 501(c)(21)(B)”.

1980—Subsec. (e). Puspan. L. 96–222 substituted “Federal Mine Safety and Health Act of 1977” for “Federal Coal Mine Health and Safety Act of 1969”.

1978—Subsec. (span). Puspan. L. 95–488, § 1(a), substituted provision limiting the allowable deduction to the greater of the amount necessary to fund the remaining unfunded liability of the taxpayer for the black lung claims filed or expected to be filed by past or present employees of the taxpayer or 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 for provision limiting the allowable deduction to the amount necessary, when added to the fair market value of trust assets at the beginning of the taxable year, to fund the greater of current year obligations or certain future obligations.

Subsec. (c)(1). Puspan. L. 95–488, § 1(span), substituted “Method of determining amounts referred to in subsection (span)” for “Determination of expected future payments” in heading and in text inserted provisions establishing the funding period as the greater of the average remaining working life of miners who are present employees of the taxpayer or 10 taxable years and permitting a different funding period if prescribed or consented to by the Secretary.

Subsec. (c)(5). Puspan. L. 95–488, § 1(c), added par. (5).

Statutory Notes and Related Subsidiaries

Effective Date of 1992 Amendment

Puspan. L. 102–486, title XIX, § 1940(d), Oct. 24, 1992, 106 Stat. 3035, provided that:

“The amendments made by this section [amending this section and sections 501 and 4951 of this title] shall apply to taxable years beginning after December 31, 1991.”

Effective Date of 1980 Amendment

Puspan. L. 96–222, title I, § 108(span)(4), Apr. 1, 1980, 94 Stat. 226, provided that:

“Any amendment made by this subsection [amending this section, sections 6503, 6511, 6862, 7422, and 7454 of this title, and sections 934 and 934a of Title 30, Mineral Lands and Mining] shall take effect as if included in the provision of the Black Lung Benefits Revenue Act of 1977 [see Short Title of 1978 Amendments note set out under section 1 of this title] to which such amendment relates.”

Effective Date of 1978 Amendment

Puspan. L. 95–488, § 1(e), Oct. 20, 1978, 92 Stat. 1638, as amended by Puspan. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095, provided that:

“The amendments made by this section [amending this section and section 6104 of this title] shall apply to taxable years beginning after December 31, 1977. Nothing in the amendments made by subsection (d) to section 6104 of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] shall be construed to permit the disclosure under such section 6104 of confidential business information of contributors to any trust described in section 501(c)(21) of such Code.”

Effective Date

Puspan. L. 95–227, § 4(f), Fespan. 10, 1978, 92 Stat. 24, provided that:

“The amendments made by this section [enacting this section and sections 4951 to 4953 and amending sections 501, 4946, 6104, 6213, 6405, 6501, 6503, and 7451 of this title] shall apply with respect to contributions, acts, and expenditures made after December 31, 1977, in and for taxable years beginning after such date.”