Political Quotes

“Mr. President, I ask unanimous consent that my amendment No. 3430 be modified with the changes at the desk. The ACTING PRESIDENT pro tempore. Without objection, it is so ordered. The amendment, as modified, is as follows: Strike title III and insert the following: TITLE III--PENSION FUNDING RELIEF Subtitle A--Single Employer Plans SEC. 301. EXTENDED PERIOD FOR SINGLE-EMPLOYER DEFINED BENEFIT PLANS TO AMORTIZE CERTAIN SHORTFALL AMORTIZATION BASES. (a) Amendments to ERISA.-- (1) In general.--Paragraph (2) of section 303(c) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1083(c)) is amended by adding at the end the following subparagraph: ``(D) Special election for eligible plan years.-- ``(i) In general.--If a plan sponsor elects to apply this subparagraph with respect to the shortfall amortization base of a plan for any eligible plan year (in this subparagraph and paragraph (7) referred to as an `election year'), then, notwithstanding subparagraphs (A) and (B)-- ``(I) the shortfall amortization installments with respect to such base shall be determined under clause (ii) or (iii), whichever is specified in the election, and ``(II) the shortfall amortization installment for any plan year in the 9-plan-year period described in clause (ii) or the 15-plan-year period described in clause (iii), respectively, with respect to such shortfall amortization base is the annual installment determined under the applicable clause for that year for that base.…”